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Rank #72
Panama

Panama

LocationCentral America • UTC-5 • America/Panama
Monthly Cost
$1,374
-37% vs USA
Internet
43 Mbps
Mobile Avg

Friendly Nations Visa

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Designed for citizens of specific 'friendly nations' to obtain permanent residency by establishing economic ties in Panama, such as forming a company or getting a job.

Min. Income

Proof of Solvency

Economic Solvency

Min. Income

Processing

6–12 Months

Average Time

Processing

Validity

Permanent

Direct Permanent Residency

Validity

Citizenship

5 Years

Years to Apply

Citizenship
Info

Eligibility & Required Docs

Eligibility Requirements

  • CheckmarkCitizen of one of the 50+ friendly nations
  • CheckmarkDemonstrate economic solvency (e.g., bank account with $5,000 minimum)
  • CheckmarkEstablish economic ties (e.g., form a Panamanian company, get a job offer, or purchase real estate)
  • CheckmarkClean criminal record
  • CheckmarkValid passport

Required Documents

  • CheckmarkPassport copy (notarized)
  • CheckmarkCriminal record certificate (apostilled)
  • CheckmarkBank reference letter and statements
  • CheckmarkProof of economic activity (e.g., company registration, job letter)
  • CheckmarkMarriage certificate (if applicable)
  • CheckmarkBirth certificates for dependents (if applicable)
  • Checkmark8 passport-sized photos
Info

Residency Rules

Taxation

Residents under the Friendly Nations Visa are subject to Panama's territorial tax system, meaning only income generated from Panamanian sources is taxed. Foreign-source income is exempt.

Physical Presence

While there's no strict minimum stay for maintaining permanent residency, applicants must be physically present in Panama for the initial application process. After obtaining permanent residency, occasional visits are sufficient.

Info

Advantages

  • Direct path to permanent residency
  • No requirement to live in Panama full-time after initial approval
  • Access to Panama's territorial tax system
  • Relatively straightforward process for eligible nationalities
Info

Disadvantages

  • Limited to citizens of specific 'friendly nations'
  • Requires establishing an economic tie in Panama
  • Processing times can be lengthy
  • Legal fees can be substantial

Compare with

Costa RicaRentista Visa
MexicoTemporary Resident Visa
ColombiaMigrant Visa (M)