The deadline to apply under the current regulations is determined for August 20th, 2021.

The Ministry of Public Security through the Executive Decree No. 197 of May 7, 2021, adjusted the requirements to secure the residence permit for foreign nationals of specific countries who maintain friendly, professional, economic relations and investment with the Republic of Panama, commonly known as the “residence permit for friendly nations”, namely:

1. Taiwan is eliminated from the list of countries whose nationals can apply for this immigration category.
2. This permit will be granted in 2 stages. The first stage that grants temporary residency for 2 years and the second stage, that grants permanent residency after that 2-year period. This permanent residency obtained in the second stage will be valid indefinitely.
3. The option of being able to request this residence permit for investment reasons as a holder of a certificate of shares of a Panamanian company is eliminated.
4. This residence permit may be requested for:
   • Work reasons, when hired by a Panamanian company.
   • Investment reasons, when owning real estate in Panama.

To apply for this residence permit for work reasons, you must provide:

1. Job letter from the employing company certifying the position, salary, and commitment to assume the repatriation expenses, according to the case.
2. Certificate from the Public Registry of Panama of the employing company.
3. Notice of Operations of the employing company.
4. For the approval of the residence permit, the work permit must be processed before the Ministry of Labor of Panama. The approval of this permit normally takes about 2-4 months, but being there is a special treatment to friendly nation’s nationals submissions, it could be ready sooner than that.

To apply for this residence permit for investment reasons as the owner of real estate, you must provide:

1. Certificate from the Public Registry of Panama that proves
   • The ownership of the real estate in the personal title of the applicant.
   • The minimum value of $200,000.00 USD for real estate, which may be financed through a local bank.

In addition to the aforementioned requirements, the following must be provided:

1. The general requirements established in article 28 of Decree-Law No. 3 of February 22, 2008, are
   • A copy of the passport,
   • Certificate of criminal record from the country of origin or residence,
   • Certificate of good health from a Panamanian certified doctor,
   • Payment of $250.00 USD to the National Treasury,
   • Payment of $800.00 USD to the National Immigration Service, and
   • Affidavit of personal background.
   • Three (3) passport-size photographs.
   • In the case of including dependents,
     • A certification that proves the relationship must be provided either through a marriage or birth certificate, according to the case, and
     • A letter of responsibility from the applicant towards their dependents.

To apply for permanent residence, the same requirements mentioned above must be met, with the exception of the payment of $250.00 USD and $800.00 USD.

This decree will take effect 90 days from its promulgation, hence this change will apply to all applications submitted after August 20, 2021.

Additional facts that may be of your interest:

• This residence permit currently grants permanent residence in a single stage, however, with the change introduced in this Decree, the permanent residence will be granted in the second stage.
• Currently, this residence permit can be requested if the foreigner is the owner of real estate, with a value greater than $100,000.00 USD. With this new decree, the amount is increased to $200,000.00 USD.
• With this decree, the requirement of a bank certification or statement of account of the applicant with a balance of no less than 4 average figures is eliminated
• Applicants will have until August 20, 2021, to submit the application for their residence permit under the friendly nations category with the current requirements established in Executive Decree No. 416 of June 13, 2012.

The process for a Friendly Nations visa takes approximately 10 months. We can guide you through it from start to finish, check the details here.