What do you want to accomplish
If you are willing to invest the amount of USD 300,000 in real estate and/or make a deposit in a Panama bank you might be interested in the Economic Solvency Visa. Compared to the Qualified Investor Visa, it will allow you to save money in government fees, but you will need to renew
your temporary residency card after 2 years.
Your family (spouse, children, and parents) can be included as well, upon
an additional investment of USD 2,000 per dependent. This program
offers three options:
Option1
The easiest investment path is real estate which brings returns of around 6-8% ROI.
Option 2
Investing $300,000 or more in a local bank's fixed deposit account.
Option 3
The combination of the two above-mentioned options.
Time Frame
Any of these 3 options will give you access to a Panama residency card for 2 years. By keeping your investment for at least 3 years you will be eligible for a permanent residency card.
General Requirements
- Photocopy of valid passport of the applicant (and dependents – if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all pages showing entry/exit stamps (all pages used in the passport).
- Birth Certificate (if applicable – for the dependents only), duly notarized and apostilled or authenticated by the Panamanian Consulate nearest you.
- Original Police record of the applicant, from the place of residence (and spouse & dependents over 18 years of age – if applicable), duly notarized and apostilled or authenticated by the Panamanian Consulate nearest you.
- Three (3) passport sized photographs of the applicant (and dependents – if applicable).
- Original Marriage Certificate (if applicable – for Spouse only), duly notarized and apostilled or authenticated by the Panamanian Consulate nearest you.
- Original Financial Reference Letters: These can be from any bank, brokerage firm, or credit union. They should be on the financial institutions letterhead, signed by a representative of the financial institution, and show the contact information (address, tel, fax, email, etc.) for the reference to be verified.
OPTION 1
Investing in Panamanian real estate
The easiest investment path is real estate which brings returns of around 6-8% ROI. At present you can buy inner city apartments from USD 2000-3000 per sq. m. Thus, the typical investment would be three 50 sq.m. apartments bringing returns of around USD 800 each. A USD 300,000 investment would therefore return roughly up to USD 2400 a month yielding around 6-8% after expenses. Since real estate in Panama grows at a rate of 5-7% per year and it is anticipated to keep growing over the next twenty years, investing is not only a perfect residency alternative but a financial solution as well.
OPTION 2
Investing $300,000 or more in a local bank's fixed deposit account.
An investment of USD 300,000 or more is made in a fixed deposit account in a local bank. The minimum deposit time is three years, and the investor needs to open an additional savings account in Panama for the collection of interest.
OPTION 3
The combination of the two above-mentioned options.
The combination of the two above-mentioned options by
making an investment in both Panama real estate and a Panama bank deposit for the total minimum amount of USD 300,000. For example, an investment of USD 200,000 in real estate property plus a deposit of USD
100,000 in a Panamanian bank.