Immigration to Panama
Panama Immigration and Panama Visas
The Panamanian government created several laws which, depending on the particular type of Panama visa applied for, enables foreigners to obtain legal Panama temporary residency or Panama permanent residency, Panama work permits, and in some cases, Panama citizenship and / or Panama passports. Most of these laws have been created to promote foreign investment in Panama which benefits the local environment or local economy of Panama.
Our Panama immigration law firm specializes in all of the Panama immigration programs and Panama visas.
Panamanian government Decree Law Nº 3 of February 22, 2008 along with Executive Degree 320 of August 8, 2008 became effective on August 26, 2008 revising many of the immigration visas requirements and procedures.
Below we have listed several of the Panama government immigration programs. Some of these Panama immigration visa programs offer Panama temporary residency or Panama permanent residency, Panama citizenship, and Panama passports and others may not. Some of these Panama immigration programs only offer Panama temporary resident visas, or Panama work permits.
Many international investors and companies find excellent opportunities for Panama investments in reforestation, manufacturing plants, assembly plants, distribution facilities for import/export, software creation facilities, call centers, and a variety of other business activities. Many times, investors find that a Panama legal residency is just an "extra benefit" to the Panama investments that they are making. The fact that there are different Panama immigration visas and Panama residency programs suited for investors is an incentive for relocating to Panama and obtaining Panama citizenship and a Panamanian passport. Relocating to Panama and getting Panama legal residency can be easier by using our experienced Panama immigration lawyers.
Obtaining a second Panama residency is useful for those who wish to:
- Have a second home overseas in a tropical country where they can live at or visit. - - - Have a "safe haven" to escape to in the event of war or any type of civil unrest that may threaten their family.
- Actually live in Panama permanently, perhaps after retirement and get legal Panama residency.
- Relocating to Panama to a tropical, stable, safe country where it is very economical to live in comparison with most other developed countries such as the US, Canada, Europe, etc.
- Relocate to a more "tax friendly" country where foreign earned income, capital gains, and interest income are not taxed.
- Relocate to a country where frivolous lawsuits are not recognized by the courts, and protecting assets through a corporate shield, without the risks of "piercing the corporate veil".
- Relocate to a country where one can begin business operations economically, and without heavy restrictions, regulations, or taxes that hinder the growth of the business.
- Relocate to a country where real estate is still affordable for purchasing homes in the city or land at the beaches, mountains, lakes, etc.
- Relocating to Panama purchasing a second residence in Panama or taking advantage of the Panama immigration programs, Panama immigration visas, and choosing Panama citizenship with a Panama passport if you wish.
According to the National Immigration Directory, 1,118 retiring foreigners (pensionado visas) immigrated to Panama between January 2002 and April 2005. The trend is accelerating rapidly, showing a 29% increase in 2003 over 2002, and 99% in 2004 over 2003. The 2004 increase was over 400%. In 2005 already 2500 new immigration visas have been issued. The largest group are US nationals, making up 67% of the total.