A lawyer advises

How to get Panamanian residence as an immigrant
All people interested in this subject want to know the different types of residence permits an immigrant can request. Here in Panama.

It is important to know the different types, because this can affect the final result of the request, which is obtaining the residence permit; and it is important for you to know that the entity in charge of approving the requests is the Department of Migration and Naturalization of the Ministry of Government and Justice. A person or family group can present this request.

The immigrant status here in Panama is obtained in two phases, the first one is when you receive a provisional permit of residence for a year, and it is a provisional card given to a person or family group. In the second and final phase you receive the Permanent Residence, with the right to have an i.d. card.

Person of Means
Once you know the previous information, then you can apply for residence under various types of visa such as: Person of Means, in which you must have a two-year deposit in a local bank with a minimum of US $200,000. Or buy in your own name, a real estate property in Panama for the minimum sum of US $200,000. Or it could be a combination of these two options: acquire in your own name a property in Panama for the sum of US $80,000, and in addition, have a two-year deposit in a local bank for a minimum of US $120,000.

Macro Investor
Another type of residence option is as a Macro Investor, designed for those who wish to establish a business in Panama. There must be a minimum investment of US $150,000 and minimum of 3 Panamanian employees hired.

Small Business Investor
Another option of residency is the Small Business Investor, in which there must be a minimum investment on a business in Panama of US $40,000 and minimum of 3 Panamanian employees hired.