PANAMA RELOCATION

 

Living abroad is not a simple task. We understand that it is a big decision, both for you, your business, and your family. That is why having a truly trained advisor and knowing in-depth all the steps necessary for proper relocation and immigration is of the utmost importance for success in your international transfer plan. 

PGS Attorneys has more than 15 years of experience in the correct advice, both to families and entrepreneurs, in the due transfer and relocation into Panama. We can offer you quality legal services, real estate advice, the opening of bank accounts, and other services related to your relocation and thus initiate a new life in due form in due form in Panama. 

"IF YOUR WORLD DOES NOT ALLOW YOU TO DREAM, MOVE TO ONE WHERE YOU CAN..." 

The Republic of Panama offers a unique immigration program for citizens of more than 50 countries known as the "Panama's Friendly Nations Residency Program.".  Panama recently modified the recognized migratory residency program of “FRIENDLY NATIONS.” The new rules grants:

  • Two years Residency, with subsequent “lifetime status ID”
  • Allows applying with family members.
  • 3 Residency Options: By Real Estate, by a Fixed Term Account, or Employment.

how do you think your life should change, if you have not taken the steps to do something to change it?

 

   steps

The application for this residency program is not a complicated process, and you should divide the migration process into two stages. The first one would be "the preparation of documents in your country," "the formation of a Panama Company (for Self-Employment)," "the acquisition of a Real Estate," or the "Opening of a Fix Term Account."  

Before Departure...  

You should prepare some minimal documents before your trip to Panama, such as Non-Background Records, Marriage Certificates, Birth Certificates for kids, and a copy of your National ID. All documents must be APOSTILLED (Hague Convention) or LEGALIZED in the nearest Panama Consulate in your home country. Don't hesitate to contact us for detailed documents needed to apply.

Important: Also, it is essential to complete the bank account opening or buy-sell process of your property or the formation of your company in Panama for the "self-employment option."

After Arrival in Panama...  

Besides an initial meeting with us, the additional steps are done before the National Immigration Service in Panama City when any residency options are ready. Our firm will assist you at all times.

fAMILY

Parents, kids, and spouses may be included within the visa application forms, regardless of their nationalities and origins, getting the same benefits as the principal applicant. It is essential to know that kids need a legalized "birth certificate." Still, adult sons can only apply until 25 years old, so adult sons must be enrolled at any local universities after the application because of their legal age.

 

Accounts

With dependents is also necessary to open a Bank Account with 5,000 USD$ to prove initial economic solvency for dependents. The reality is that achieving it is not as simple as expected, being Panama a banking center. But we can assist you with the correct bank lobbies to achieve it, according to local due diligence regulations.

Retirees

If you are retired or pensioned from any German, Austrian, Canadian, European, or American Public Institution, and earn a monthly payment of approx. 1,000 USD$, you and your family, do qualify for a LIFETIME RESIDENCY IN PANAMA with a PANAMA, plus tax benefits and special discounts. There is no minimum age to apply under this Pensioned Visa Program.

PROPERTIES

Certainly, Panama offers a wide range of real estate options for living or investments. Oceanfront, city, and the mountains properties are available throughout the country. Indeed, buying a property in Panama is NOT like in your country. We have a dedicated real estate consulting department and real estate brokers readyto assist you in your language.

Nomads

Our firm understands the online, internet, and blockchain revolution and the need to provide legal support, banking, and asset protection quality services to the new so-called "digital nomads" entrepreneurs with worldwide income. The proper migratory residency, added to your online business's due legal structure.

QUALIFIED reAL ESTATE INVESTORS RESIDENCY

  • Panama has created the "RESIDENCY PROGRAM FOR QUALIFIED INVESTORS", where you and your family can obtain a "lifetime residency" status in only "30 days" by a direct buying of a  property in Panama. 
  • The program allows you to apply with properties priced over $300,000, where the difference of the sale price can have a mortgage. 

Why is a Residence for Investment in Panama more convenient than applying to the EB-5 Program?

Obtaining lifetime residency through Panama's Qualified Investment Immigration Program is an increasingly popular option for international investors from Asia, India, and Latin America. In addition to the fact that Panama meets the minimum standards that investors seek for asset allocation: security, political stability, use of the dollar, banking, and global connection, among other competitive advantages (like first-world countries), Panama Qualified Investor Program certainly has direct advantages over the U.S. EB-5 program, in several aspects.

Investment: First, the qualified investment program in Panama (under Decree 722 of 2020) is significantly less expensive than the EB-5 program. The EB-5 program requires a minimum investment of between $800,000 and $1,000,000 in purchasing property, establishing a business, or participating in a project or fund approved by the authorities. On the other hand, the qualified residency program in Panama only requires an investment of $300 K (until October 2024) with the purchase of a property to obtain a lifetime residency, with no additional requirements. The EB-5 program, on the other hand, requires the creation of at least 10 local jobs in addition to the investment to obtain residency.

Time frame:  In terms of time, the Panama Qualified Investment Program is much faster than the EB-5 program. The process to obtain residency through the EB-5 program can take several years, while obtaining permanent residency in Panama takes only 30 days once all required documentation has been correctly submitted to the Panamanian Immigration Service.

Documents: As for the requirements and documents, the EB-5 program requires a large amount of documentation, while Panama only requires the purchase of the property registered in the Public Registry as "proof of investment," plus the essential applicant's and family documentation, such as backgrounds, passports, birth certificates, and similars, to receive the proper approval.

Panama Citizenship

Those who wish to become citizens of Panama can only do so once they have been legal residents of the country for five years, with a PERMANENT residence status. If you are married to a Panamanian citizen or have Panamanian children, just three years are needed for the application. The applicant will also need to do some examinations on subjects about Panama to obtain nationality.

Contact us ..!

Panama Immigration Lawyer

PGS Attorneys 

A Panama Immigration Law Firm

SL55 Tower, 17th fl, Samuel 

Lewis Ave, Panama City

+507-391-8878

mail@panamags.com  

www.PanamaGS.com