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Panama’s passport is ranked as the 36th the strongest passport in the world. It allows visa-free access to over 120 countries.
The law that initiated the Permanent Residence Program in Panama was passed in 1987 (Law 9 Decree No. 26). A foreigner having established a deposit of a minimum of USD 300,000* gaining interests of minimum USD 850 at the National Bank of Panama or at La Caja de Ahorros (savings bank) may request for a Temporary Residence Visa with an Independent Retired Status. The time deposit is to be for a minimum term of 5 years with the amount of it depending on the interest rate at the moment of creation of the deposit. The expected available rates are approximately 3% - 4%.
The Permanent Residence Card granted is a Travel document which enables you to your travel to 120 countries including the European Union.
The Panamanian Residency Program requires making a bank deposit of USD 300,000 in one of Panama’s Governmental banks.
Qualifying investments:Real estate investment, Agriculture and Government approved projects.
Visa type:Immediate permanent residency
IVS Retainer Agreement signed and first Payment of IVS Professional Fees
Applicant signs a limited power of attorney for IVS executes immigration proceedings in Panama and opens the bank account.
If required, IVS will obtain a tourist visa to travel at the time of collecting the PR card.Applicant signs IVS retainer agreement and a limited power of attorney for IVS executes immigration proceedings in Panama and opens the bank account.
If required, IVS will obtain a tourist visa to travel at the time of collecting the passport.
IVS opens bank account and provides Client with official bank confirmation including account details.
The applicant transfers the required funds.
Upon applicant confirmation of transfer, IVS obtain bank certificate for the immigration department as part of residency application documents.
Once IVS obtains residency and travel PR approval, applicant travels to Panama to have passport pictures taken and to collect the travel PR card in person.
Tourist visa would have been processed and ready at the time of travel.
IVS final Professional Fees are paid.
Visa requirements for Panamanian citizens are administrative entry restrictions by the authorities of other states placed on citizens of Panama.
As of 22 May 2018, Panamanian citizens had visa-free or visa on arrival access to 141 countries and territories, ranking the Panamanian passport 31st in terms of travel freedom (tied with the Grenadian passport) according to the Henley Passport Index, and 8th in Latin America, passed by Chile (13th), Brazil and Argentina (15th), Mexico (21st), Uruguay (23rd), Costa Rica, (25th) and Paraguay (29th).
