The Panama Flag
This is one of the first things you’ll have to find out if you’re thinking about making a permanent move to Panama. The good news is that it’s pretty easy to obtain permanent residency in Panama, so long as you’re a retiree with a formal monthly pension or you’ve got at least $160,000 to invest. If you’re low on funds or looking for work on your own, you may be out of luck – at least technically. The Panamanian government does everything possible to make sure that jobs in Panama go to Panamanians, so unless you have a very special skill or are sponsored by a large multinational, you may have to go a less official route. Keep in mind that immigration and visa laws have a tendency to change quickly, so it’s best to seek legal counsel as soon as you start thinking about relocating to Panama.
If your retired
The Turista Pensionado Visa is available to those receiving at least a $1,000 (up from $500) monthly pension from a verifiable source. There’s no expiration date on this visa, but you’ll have to check in with the Immigration Department once a year to demonstrate that you’re still receiving a pension. If you received your pension in a lump sum and aren’t receiving monthly payments, you can obtain a Rentista Retirado Visa. You’ll just have to deposit your funds, in a 5-year CD at the Banco Nacional de Panama and be earning returns of at least $2,000 monthly (up from $750) In order to retain residency status, the CD must be renewed every five years.
If your an investor
Panama provides a very friendly environment for those looking to go into business. The provisional two year Inversionista Visa requires an initial investment of at least $160,000 and the hiring of at least five full-time Panamanian employees. The visa must be renewed at least three times every two years before it becomes permanent and provides a path for obtaining Panamanian nationality. The Inversionista de Pequeña Empresa Visa (Small Business Investor Visa) was recently eliminated.
If your not retired, not an investor but you’re independently wealthy
You may qualify for the Solvencia Económica Propia (Person of Means) Visa. You must deposit at least $300,000 to be left in a bank for three years. You can also apply $300,000 toward the purchase of mortgage-free property or do a combination of both. This visa can become permanent after an initial renewal, so long as your economic situation remains unchanged. The Solvenica Económica Propia also provides a path to Panamanian nationality.
If you do not meet any of the above categories
Relocating to Panama and obtaining permanent residency will be a bit more difficult if not impossible, unless you marry a Panamanian. As an American, Canadian or European man, you’ll find this is pretty easy to do in Panama!
If marriage doesn’t interest you, however, there is an unofficial way to move to Panama. American, Canadian, and most European citizens are legally entitled to stay in Panama for up to 90 days without a visa, so many expatriates simply cross over into Costa Rica or explore Central America every three months. You’ll have to remain abroad for at least 72 hours before reentering Panama. This is an at-your-risk “permanent tourist” option, but I’ve heard of many people who have lived like for months and even years. As far as I can tell, the government doesn’t seem to mind as long as you’re not trying to take jobs from Panamanians.
Another option is to teach English. Private schools are always looking for ESL teachers, and they seem to prefer American and Canadian candidates. Likely, you’ll be required to provide evidence of a Bachelor’s degree, TEFL certification and teaching experience. If you wish to remain in Panama for more than a year, you may be able to renegotiate your contract with your employer. Keep in mind however, that teachers in Panama usually only make between $600-$1,000 a month, so you won’t be living large by any means.
In order to apply for a visa and residency status you’ll have to talk to a Panamanian lawyer. If a law office’s rates seem too good to be true, they probably are. Ask around for a reputable firm before you get the process started. I haven’t found the Panamanian embassy to be particularly helpful, but they do have a bit of investor and retirement information on line. My Panama Lawyer is an informative, unofficial relocation blog and is a good place to keep up with Panama’s frequently changing visa and residency requirements. You can also find a few other visa/residency options here.
Panamanian citizenship can only be acquired after five years of legal permanent residence and full immigrant status. Citizenship may be applied for by all foreigners who have conferred immigrant status (i.e. not pensionado or retiree residence status), after a period of five years following the date of approval of the Immigrant Visa (“Provisional Resident Permit”). For immigrants married to Panamanians or with Panamanian children, this period is reduced to three years.
The Panamanian nationality law requires (as does US naturalization law) an oath of renunciation of former citizen-ships as a condition of naturalization. However, currently the US court system interprets the renunciation as “non-meaningful” and therefore it will not result in the loss of US citizenship, unless the US citizen renounces their citizenship directly to the US State Department, which will then result in loss of US nationality.
With that said, it is not necessary to renounce US citizenship to the US State Department to obtain naturalization in Panama. There are many cases in which US citizens acquire dual citizenship. The easiest ways to obtain dual citizenship is if you were born in the foreign country where you are trying to gain citizenship, or if one of your parents were born in said country. Both these circumstances will not affect your US citizenship. Furthermore, dual citizenship between Panama and the US can also occur when the person is naturalized in Panama without intending to relinquish their US nationality. As said above, to become naturalized one will need to legally live in Panama for a minimum of five years before being applicable.
Required Documents to Obtain Panamanian Citizenship
Five testimonials, rendered before a Civil Court of Panama, by five witnesses, who cannot be relatives, acknowledging that the applicant is known to them and has lived in Panama for more than three years or five years, according to the case, on an uninterrupted basis, from the date the Immigrant Visa was granted.
Negative HIV Test; X Rays of the lungs, and a general medical certificate attesting that the applicant does not suffer from any physical, mental or infectious diseases.
Notarized copy of the entire passport (i.e. every page of the passport).
Two passport photographs.
Various fees and stamp duties, totalling about US$600.
Written statement renouncing your previous nationality. However, such renunciation may have no effect , whatsoever in the country of the applicants current citizenship.
Stamps in the total amount of US$ 300, which must be adhered to the Letter of Naturalization. (Stamps may be bought when the Letter of Naturalization is issued).
Letter from the employer, or banking reference letter, or any other document certifying the monetary solvency of the applicant; and the Social Security Fund Record if the applicant works in Panama.
Power of Attorney to request a Certificate from the Personal Identification Division attesting to the date of issuance of the “Cédula” (Identiy card).
Upon filing of the application for a Letter of Naturalization, the applicant will be required to appear before the Electoral Tribunal to the effect of rendering examinations on Spanish language and geography, history and civil rights of the Republic of Panama
New Citizens will be able to obtain a passport and Personal ID card, which give them the right to vote for their desire candidate during elections, in the same way they acquire other constitutional rights and duties of Panama.
After the approval and issue of the Letter of Naturalization, the following steps must be taken by the new citizen:
1. Appear before the Immigration Department to personally receive the Letter of Naturalization and to hand over stamps for US$300 to be adhered to the Letter of Naturalization.
2. Appear before the Governor of the Province of Panama so as to solemnly swear that the Panama Constitution and laws shall be respected. US$ 200 will have to be paid to the Governor’s Office, in terms of official fees.
3. Register as a Panamanian Citizen before the Electoral Tribunal and obtain a new “Cedula” for which it will be necessary to pay the amount of US$ 60.
