17/10/2018 New visa measures
Visa issued for up to five years for nationals of Cuba, China, Dominican Republic, India and Venezuela.
The Decree No. 611 of October 11, 2018 states the stamped visa for multiple-entry to nationals of Cuba, China, Dominican Republic, India and Venezuela is valid for up to five years. It is effective as of 12 October 2018. This was granted for up to three years previously.
The National Immigration Authority has confirmed that the maximum duration of stay per visit is 30 days. This can be extended up to 90 days at the discretion of the immigration authorities.
04/10/2018 Hesitating to Make the Move to Panama?
Many retirees and expats choose Panama because of the lower cost of living yet still offering the same luxury and amenities of their own country.
Panama is one of the most developed countries in Latin America. It is ranked number 7 on the list of Latin American countries by Human Development Index released by the UN in 2016.
Panama has a strong U.S. influence due to its use of the US dollar as its currency, the Canal, and the supermarkets and malls are quite similar to those in the U.S.
This presence makes it easier for Americans to move to Panama.
The Panama Canal together with the banking sector, tourism industry and commerce make up the biggest part of Panama’s economy.
The quality of medical care in Panama City is worldclass. Most doctors are bilingual and have studied abroad in high quality schools in the US or Spain. We now see a growing trend in medical tourism, due to the low costs of operations and the quality of the doctors.
There are three Health Care systems, two government and one private system. Most expats are in the private system. Panamanian Health Care is available at low costs and very affordable for expats in comparison to a number of First World countries.
Some other benefits include the growing and stable economy, lower income tax and Panama’s immigration law. With the Friendly Nations Visa it has become easier for citizens of these countries to obtain a residency visa. You can find more info on this topic in the previous blog.
And what about all the beautiful beaches and islands Panama has to offer? The San Blas Islands alone count 365 islands, of which 49 are inhabited. Other islands are Bocas del Toro, Coiba and many more. The rich biodiversity makes this country a hotspot for any nature lover. Even the capital city of Panama has its own rain forest inside the city boundaries.
Not me ; )
28/09/2018 Friendly Nations Visa
In May of 2012 ex-president Ricardo Martinelli introduced the Friendly Nations Visa. A visa that should attract foreigners to live and work in Panama and make it easy for them to obtain it.
50 countries are considered as “friendly” and are eligible for permanent residence.
These countries are: Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Monaco, Marino, Montenegro, Netherlands, New Zealand, Norway, Paraguay, Poland, Portugal, Serbia, Singapore, Slovakia, Spain, South Africa, South Korea, Sweden, Switzerland, Taiwan, United States of America, Uruguay, United Kingdom (Great Britain & Northern Ireland).
- Citizenship of one of the above countries
- Have $5000 deposit on a Panamanian bank account
- Prove economic/professional ties to Panama (starting a business in Panama, get a job at a Panamanian company, buy property in Panama)
- Permanent residence
- Work permit
- Panamanian ID
The whole process can take 6-9 months. You will receive a temporary residence permit during this process. After 5 years you are eligible for naturalization.
Other ways to obtain a permanent residency visa: Pensionado program, Reforestation Investor Visa, Professional Residence Permit, Business Investor Visa, Self-Economic Solvency Visa, Marriage to a Panamanian citizen.