{"id":27462,"date":"2019-09-23T13:03:00","date_gmt":"2019-09-23T17:03:00","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=27462"},"modified":"2020-09-21T09:35:07","modified_gmt":"2020-09-21T14:35:07","slug":"everything-you-need-to-know-about-panamas-friendly-nations-visa","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/everything-you-need-to-know-about-panamas-friendly-nations-visa\/","title":{"rendered":"Everything You Need to Know About Panama&#8217;s Friendly Nations Visa"},"content":{"rendered":"<p><strong>Back in 2012, <a title=\"Top 16 Reasons to Move To Panama\" href=\"https:\/\/www.escapeartist.com\/blog\/top-16-reasons-to-move-to-panama\/\" target=\"_blank\" rel=\"noopener noreferrer\">Panama<\/a> introduced the <a href=\"https:\/\/panamafriendlynationsvisa.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Friendly Nations Visa<\/a> under Presidential Decree 343. The fast-track permanent residency program not only made it easier to obtain residence there if you belonged to one of the 22 eligible countries, but it also opened up investment opportunities. Let&#8217;s talk about what I need to know about Panama&#8217;s Friendly Nations Visa.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Today, What Countries Are Eligible For Friendly Nations Visa<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Today, the list of friendly nations has increased to 50 countries. These include:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">1. Andorra<br \/>\n2. Argentina<br \/>\n3. Australia<br \/>\n4. Austria<br \/>\n5. Belgium<br \/>\n6. Brazil<br \/>\n7. Canada<br \/>\n8. Chile<br \/>\n9. Costa Rica<br \/>\n10. Croatia<br \/>\n11. Cyprus<br \/>\n12. Czech Republic<br \/>\n13. Denmark<br \/>\n14. Estonia<br \/>\n15. Finland<br \/>\n16. France<br \/>\n17. Germany<br \/>\n18. Great Britain<br \/>\n19. Greece<br \/>\n20. Hong Kong<br \/>\n21. Hungary<br \/>\n22. Ireland<br \/>\n23. Israel<br \/>\n24. Japan<br \/>\n25. Latvia<br \/>\n26. Liechtenstein<br \/>\n27. Lithuania<br \/>\n28. Luxembourg<br \/>\n29. Malta<br \/>\n30. Mexico<br \/>\n31. Monaco<br \/>\n32. Montenegro<br \/>\n33. Netherlands<br \/>\n34. New Zealand<br \/>\n35. Norway<br \/>\n36. Paraguay<br \/>\n37. Poland<br \/>\n38. Portugal<br \/>\n39. Republic of Korea<br \/>\n40. San Marino<br \/>\n41. Serbia<br \/>\n42. Singapore<br \/>\n43. Slovakia<br \/>\n44. South Africa<br \/>\n45. Spain<br \/>\n46. Sweden<br \/>\n47. Switzerland<br \/>\n48. Taiwan<br \/>\n49. Uruguay<br \/>\n50. United States of America<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>What Makes You Eligible?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Panama is known for offering a low-cost and highly accessible environment to both migrants and foreign investors looking to expand in the international market and set up business in Panama. But before any of that happens, let\u2019s take a look at the <a title=\"A History Of Panama Friendly Nations Visa\" href=\"https:\/\/www.escapeartist.com\/blog\/a-history-of-panama-friendly-nations-visa\/\" target=\"_blank\" rel=\"noopener noreferrer\">Friendly Nations Visa<\/a> requirements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from being a resident or citizen of any of these 50 countries, you also need to meet a few other eligibility requirements to qualify for the Friendly Nations Visa. These include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An established professional or economic relationship with the Republic of Panama<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Clear proof of professional solvency<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Availability of all supporting documents and required fees.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><b>Documentation For Friendly Nations Visa<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Proof of ownership of a titled property in Panama. The property must be free of liens and can be either in the name of the applicant or applicant\u2019s corporation\/business. If you own an LLC or IBC Panamanian company or work for a Panamanian corporation, you\u2019re also eligible to apply\u2014subject to additional documentation.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Active passport with an additional ID such as driver\u2019s license<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Eight passport-size pictures<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A criminal check that provides evidence of your legal standing in the country of residence. For US residents, the FBI is responsible for conducting background check but if you\u2019re residing in any other country, make sure that it&#8217;s nationwide and not local. If you have a citizenship of another country, a background check is also required from there.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A health certificate verified by a general physician in Panama and issued within the 90 days of application filing<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Proof of residency and address<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A sworn declaration.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you\u2019re applying for your spouse as well, you\u2019ll also need a marriage certificate; whereas in case of children additional documentation is required which includes:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Birth certificate<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Passport<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Purpose of applying for residency in Panama<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Proof of ability to support dependents<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Authorization of both parents on the child\u2019s application form.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This only applies to children that are dependents and under the age of 25 years. If your child is over 25 years old, you\u2019ll also need to provide an affidavit that confirms their single status as well as show proof of enrollment as a full-time student.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>Costs Of Applying For Friendly Nations Visa<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Applicants over the age of 12 are required to fulfill the costs of deportation in case of criminal activity. Other costs include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A bank letter that certifies deposits of at least $5000<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">$800 for repatriation fee in the form of a certified check made to the National Immigration Services<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">$250 for application fee in the form of a certified check made to the National Treasury.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You may incur additional costs such as attorney fees, cost of opening a Panama bank account, charges for securing multiple entry visa and incorporation costs, among others. Keep in mind that for a single applicant, you\u2019ll need to spend at least $10,000 USD; so, keep the cash ready and get started.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>What Do You Need To Do To Get A Friendly Nations Visa<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">If you\u2019re based in any of the friendly nations, this is your step-by-step application guide for Panama residence. This guide will help you minimize the applying costs and fast-track the process.<\/span><\/p>\n<h3><strong>Start with documents<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Prepare all that you can before arriving in Panama. If you need to translate or <a href=\"https:\/\/www.internationalapostille.com\/what-is-an-apostille\/\" target=\"_blank\" rel=\"noopener noreferrer\">Apostille <\/a>them, do it beforehand. The law company that you\u2019ve hired in Panama can move along the company set-up and incorporation process, while you handle the documentation. Remember that legal assistance is imperative in applying for a <a title=\"Personal and Financial Advantages of Panama\u2019s Friendly Nations Visa\" href=\"https:\/\/www.escapeartist.com\/blog\/personal-and-financial-advantages-of-panamas-friendly-nations-visa\/\" target=\"_blank\" rel=\"noopener noreferrer\">Friendly Nations Visa.<\/a><\/span><\/p>\n<h3><strong>Get Ready to Travel<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">It can take anywhere between a few days to a month on your first visit to Panama. If you follow the first step prior to travel, you may not need to spend more than a week. The purpose of the first visit is so you can open a bank account\u2014which requires physical presence\u2014because without an account, you can\u2019t move ahead with the filing process.<\/span><\/p>\n<h3><strong>Register Your Passport<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The immigration office in Panama handles the registration process. The registration number on the stamp provided by an immigration officer is necessary for a smooth immigration process and application filing.<\/span><\/p>\n<h3><strong>Open a Bank Account<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Banks can deny your account opening application for any number of reasons, which is why you should apply at multiple banks. The process involves an interview, document submission and signature of all bank forms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once your application has been approved, apply for a reference letter and request the certified checks required to pay the fees for the application and deposit the $5,000 bank deposit fee.<\/span><\/p>\n<h3><strong>File the Application<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The attorneys can file the application on your behalf if you can\u2019t or don\u2019t want to stay in Panama for long. However, if you\u2019re planning to stay longer, visit the immigration office for a temporary residence card.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Important note: Use the same passport as the one on the application to enter Panama if you have dual or multiple citizenships. Authorities will check this and in case of discrepancies, your application may be denied.<\/span><\/p>\n<h3><strong>Request a Multiple-Entry-Visa<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">To leave the country, you\u2019ll need to obtain a multiple-entry-visa otherwise you may be subjected to a $2,000 civil fine. It may take at least three days before you\u2019re issued the visa, so plan your trip accordingly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you don\u2019t plan on leaving <a title=\"Panama\" href=\"https:\/\/www.escapeartist.com\/blog\/best-time-visit-panama\/\" target=\"_blank\" rel=\"noopener noreferrer\">Panama<\/a>, you need the multiple-entry visa and can wait for the approval of the application for as long as the temporary residence card is active\u2014which usually expires after 6 months (the same time it takes for the approval of the application and permanent residence card).<\/span><\/p>\n<p><strong>Here are a few great articles on Panama and what you can expect when you chose to invest or live there.<\/strong><\/p>\n<p style=\"text-align: left;\"><strong><a title=\"Enlightenment in Panama - Teak as Generational Wealth Stewardship\" href=\"https:\/\/www.escapeartist.com\/blog\/enlightenment-panama-teak-generational-wealth-stewardship\/\" target=\"_blank\" rel=\"noopener noreferrer\">Enlightenment in Panama &#8211; Teak as Generational Wealth Stewardship<\/a><\/strong><\/p>\n<p style=\"text-align: left;\"><strong><a title=\"Offshore Precious Metals\" href=\"https:\/\/www.escapeartist.com\/offshore-precious-metals\/\" target=\"_blank\" rel=\"noopener noreferrer\">Offshore Precious Metals<\/a><\/strong><\/p>\n<p style=\"text-align: left;\"><strong><a title=\"Panama Pacifico and Colon Free Trade Zone\" href=\"https:\/\/www.escapeartist.com\/blog\/panama-pacifico-and-colon-free-trade-zone\/\" target=\"_blank\" rel=\"noopener noreferrer\">Panama Pacifico and Colon Free Trade Zone<\/a><\/strong><\/p>\n<p style=\"text-align: left;\"><strong><a title=\"5 Best Countries to Move Your Gold to - So The US Government Can't Touch It\" href=\"https:\/\/www.escapeartist.com\/blog\/5-best-countries-to-move-your-gold-to-so-the-us-government-cant-touch-it\/\" target=\"_blank\" rel=\"noopener noreferrer\">5 Best Countries to Move Your Gold to &#8211; So The US Government Can&#8217;t Touch It<\/a><\/strong><\/p>\n<p><a title=\"Rachel Jensen - Interviewed by Mikkel Thorup\" href=\"https:\/\/expatmoneyshow.com\/rachel-jensen-buying-international-real-estate-caribbean-latin-america\/\" rel=\"\"><strong>Rachel Jensen &#8211; Interviewed by Mikkel Thorup<\/strong><\/a><\/p>\n<h2><\/h2>\n<h2><b>Conclusion<\/b><\/h2>\n<p><strong>Panama is a business-friendly nation that offers a lot to investors and companies operating in the Republic. However, you should keep in mind that obtaining a permanent Panamanian residence through the Friendly Nations Visa isn\u2019t the same as tax residence. So, if you\u2019re applying for tax purposes, you\u2019ll need to meet further requirements that include permanent address in Panama and at least 183 days spent in the Republic in a tax year.<\/strong><\/p>\n<p><strong>I hope you enjoyed this article on What do I Need to Know About Panama&#8217;s Friendly Nations Visa.\u00a0 For more information and to talk to our expert, please contact us <a title=\"Residency in Panama\" href=\"https:\/\/www.escapeartist.com\/residency-panama\" target=\"_blank\" rel=\"noopener noreferrer\">HERE.<\/a><\/strong><\/p>\n<p><strong>Interested in learning about how going Offshore for your business or for your life, you must read <a title=\"The Ultimate Guide to Going Offshore\" href=\"https:\/\/www.escapeartist.com\/blog\/ultimate-guide-to-going-offshore\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Ultimate Guide to Going Offshore.<\/a>\u00a0 It&#8217;s a must read!<\/strong><\/p>\n<p><strong>For any other questions about moving overseas, please feel free to contact our office <a title=\"Contact us\" href=\"https:\/\/www.escapeartist.com\/contact\/\" target=\"_blank\" rel=\"noopener noreferrer\">HERE<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Back in 2012, Panama introduced the Friendly Nations Visa under Presidential Decree 343. The fast-track permanent residency program not only made it easier to obtain residence there if you belonged to one of the 22 eligible countries, but it also opened up investment opportunities. Let&#8217;s talk about what I need to know about Panama&#8217;s Friendly [&hellip;]<\/p>\n","protected":false},"author":678,"featured_media":27467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1399],"tags":[56,71,222,442],"yst_prominent_words":[7147,7146,7144,7149,7145,7142,4607,2365,2364,7286,7285,3835,2366,7148,1888,4596,4595,3402,3427,2376],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2019\/09\/Panama-Canal.jpg","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/27462"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/678"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=27462"}],"version-history":[{"count":17,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/27462\/revisions"}],"predecessor-version":[{"id":42118,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/27462\/revisions\/42118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/27467"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=27462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=27462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=27462"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=27462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}