Panama

Panama

Golden Visa & Residency by Investment

Strategically positioned between Central and South America, Panama is a global center for international banking. Significant seaborne trade — the result of the Panama Canal, connecting the Atlantic and Pacific oceans.

Banking

Many Panamanian banks won’t let foreigners open a bank account unless they have a residence permit

Incorporation

To qualify, you will first need to show that you conduct some professional or economic activity in the country

Taxes

No taxes on global income, dividends, interest or royalties from other countries, inheritance, capital gains

Ease of business

In Panama, when compared to other jurisdictions, you can be in business in an expedite time. 2 weeks to get a business license

Retirement

Panama tops the list of the best places in the world to live or work or retire, with friendly people, a safe living environment

Education

Investor's children may attend schools and universities in Panama. Both private and public schools are available

Panama Residency

Panama is a country that offers several residency programs. If you are interested in obtaining a residency in this tropical heaven it will save you lots of money on taxes. That’s probably one of the biggest reasons why Panama is so popular with more and more foreign entrepreneurs rushing to settle there. 

Route to Panama residency:

Qualified Investor: Investments must be held for at least five years to maintain permanent residence status. Additional government fees for the main applicant and dependents apply. One of the following options: Real estate investment of USD 300,000. Stock exchange investment of USD 500,000. Fixed-term deposit of USD 750,000 in the banking sector.
Friendly Nations: For citizens of one of Panama’s ‘friendly nations’ (contact us for the latest list of friendly nations). One of the following options: Real estate investment of USD 200,000. Employment by a company in Panama for residence by labor reasons.
Forestry Investor: Investment in a company that has a forest registry with the Ministry of Environment. One of the following options: Real estate investment of USD 100,000. Investment of USD 100,000 in teak reforestation. This option grants two years of temporary residence, after which the applicant can apply for permanent residence. Investment of USD 350,000 in teak reforestation. This option grants immediate permanent residence.
Country Overview Residency Law Tax Regime

The Republic of Panama is a country located in the southeast of Central America, on the isthmus of Panama that unites South America with Central America. It borders the north with the Caribbean Sea, the south with the Pacific Ocean, the east with Colombia and to the west lies Costa Rica. Its mountainous territory is only interrupted by the Panama Canal that connects the Pacific Ocean with the Caribbean.

It has a population of over 4 million inhabitants, with half living in the metropolitan area of its capital, Panama City. Its official language is Spanish. Its legal tender currencies are the US Dollar (USD) and the Balboa (PAB), which is pegged to the Dollar at a 1:1 ratio.

On 18’th April 2013, Greece introduced Law 4146/2013 giving Non-EU citizens and their family members the right to obtain Residency Permits by investing in Real Estate in Greece. The allowance for these types of residency permits has been integrated into the existing Law 3386/2005 “Entry residence and social integration of third-country nationals in Greece.”

According to Article 36A of the Law, a five-year Residency Permit can be granted to Non-EU citizens who own or purchase real estate in Greece, the value of which exceeds 250,000 euro.

In July 2015, Greece introduced new amendments to Law 4251/2014 under the Law 4332/2015, giving Non-EU citizens the right to obtain citizenship if they reside in Greece for 7 consecutive years, providing they stay in Greece for a minimum of 180 days for each year.

Panama’s tax regime is territorial, this means that Panama will tax all income that is sourced locally, regardless of residency status. This presents a great advantage for foreign investors and digital nomads, as their income most likely is sourced outside of Panamanian territory, thus their income tax will be 0%.

No requirement to have a work permit if your job is done remotely for a foreign company, this applies if you own your business too.

The local currency is the US Dollar, so your assets held in local banks will be protected from drastic currency fluctuations.

In Panama, to be consider a tax resident, the interested person can opt to comply with one of the following requirements:

  • spend 183 days in Panama, or;
  • Proof to the tax office that they have strong links with the country that they do not have with any other country.

You can make a case for the latter by becoming a resident of Panama, having a physical address (that could be a long-time rental), and certifying that you hold businesses in Panama. This requirement might seem elaborate but is very simple with the assistance of a qualified attorney.

Contact

  • Tamani Arts Office Towers
    1009 Al Asayel Street
    Dubai, UAE
  • +1-888-477-4370
  • info@grsvcs.com
How it works

Key Stages in the Application Process

Registration of cooperation

Expert analysis of documents and selection of the optimal investment option begins after the signing of a cooperation agreement. Our team of specialists will determine the most profitable investment option for you to obtain Panama residency.

Document collection

We will help you fill out official forms and prepare a full package of documents required for submission, including legalized translations and notarizations, in accordance with the requirements of the Panama investment program.

Processing of application

Each application is vetted by the government through a thorough due diligence check, during which time submitted information is examined and verified.

Residency permit

An application for a Panama residence permit is processed within 1-2 months. The family members can receive residence permit cards themselves or entrust an attorney to collect them. The investors international passport is required to get the residence permit.

Renewal of residence permit

The Panama residence permit is valid for five years, after which it can be renewed. The application and the documents are submitted within two months before the expiration date. If the investor plans to renew the residence permit, they cannot sell the investment property.

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