
Our personal experience obtaining temporary residence, and later, permanent residence in the Republic of Panama using the “Friendly Nations” visa.
In the last few years, we have been busy looking for the best options to obtain (or even purchase) a second, third, or even a fourth passport. As discussed in my article “Live Free,” it is my opinion that having multiple citizenships – like speaking multiple languages – is not just a luxury of the modern world, it is a necessity.
We studied all of the information that we could find on the internet and then we personally visited Panama, met with lawyers, bankers and real estate agents and then we drew our conclusions based on our first-hand knowledge.

This is our story about how to obtain permanent residence in the Republic of Panama.
Why Panama, you ask? For many reasons:
* Panama has a warm and pleasant climate for most of the year.
* Panama has an advantageous tax system.
* It is the second largest banking center in the world behind Hong Kong.
* Over the past decade, there has been a constant climb in real estate prices. The real estate conditions in Panama offer not only a good chance for appreciation on owned property but also for the likelihood of a positive cash flow in the form of rents.
* The Panamanian Government is “progressive;” they actively seek educated, trained and “quality” expat workers and residents.
* The Panamanian passport is well considered a “good” passport in that it offers visa free travel to the EU. On a Panamanian passport, you can travel visa free to 125 countries making it the 32nd most valuable passport in the world.
Let’s start off by saying that Panama does not sell passports. To obtain a Panamanian passport isn’t something you just “get,” it is obtained through a process that first begins with establishing legal residence there. This is one reason why the Panamanian passport is well respected throughout the world and affords so much visa free travel: because the Panamanian Government doesn’t “cheapen” their passport by selling it to anyone who has some money in the bank.
In my opinion, another excellent quality of Panamanian residency (and eventually citizenship) is that Panama is a neutral country. Panama is often described as the “Switzerland” of the Western Hemisphere. Offshore bank accounts aside, a Panama passport draws no ire from terrorists or nations embroiled in “cold wars.” For Americans or Russians, this may provide to be quite useful if another Cold War breaks out between East and West. As stated by Brandon Rowe, “No one kills the Slovaks.” Panama is off by itself, causing no problems in the world, it truly is a neutral country. From my point of view, these are attractive features if you are going to look for a second residency, home, and/or passport.
Also, Panama is an emerging – and rapidly growing economy. All we have to do is look to the United Arab Emirates to see what can happen when a progressive government teams with a rapidly growing economic and business sector. The pricing for Panamanian residency was very reasonable and we now have access to a beautiful tropical nation with beautiful ocean views, scenic mountain vistas, and exotic jungle rainforests. Panama is warm enough that you can swim year round; in fact, the “high season” is during the Christmas and New Year holiday months.
The process
For qualified nationalities, easiest and best way to obtain a Panamanian residency visa is through the Friendly Nations Visa. As the law is currently written, the Friendly Nations program is first issued as a temporary and then a permanent residency visa.
The following nations are eligible to apply under this new law for a permanent residency in Panama through the Friendly Nations Program:
Great Britain, Germany, Argentina, Australia, Republic of Korea, Austria, Brazil, Belgium, Canada, Spain, USA, Slovakia, France, Finland, Netherlands, Ireland, Japan, Norway, Czech Republic, Switzerland , Singapore, Uruguay, Shile, Sweden, Poland, Hungary, Greece , Portugal, Croatia, Estonia, Lithuania, Latvia, Cyprus, Malta, Serbia, Montenegro, Israel, Denmark, South Africa, New Zealand , Hong Kong, Luxembourg, Liechtenstein, Monaco, Andorra, San Marino, Taiwan, Costa Rica, Mexico, and Paraguay.
The spouses and children (and other dependents) of applicants are also eligible for this visa.
How did we apply for a Panamanian Friendly Nations Visa?
Obtaining a temporary residence card took two weeks; the card had a validity of one year. It was to be used while the permanent residence application was processed. Only 4 months later, the permanent residency is approved and after a return to Panama, the new (permanent) residency cards were issued in one week. In total, obtaining permanent residency in Panama took us only 4 months.
We were very impressed by the speed at which we were able to obtain our temporary residency. In the span of two weeks we had Panamanian identification cards and the ability to open a bank account, start a company, indeed, to buy a home. And in equally impressive timing, we returned only 4 months later to pick up our permanent residence cards.
Requirements for the visa:
* It was necessary to open a Panamanian Corporation in order to show “economic ties” to the country.
* Starting capital (to show economic solvency) was $5,000, plus an additional $2,000 for each family member.
* We were required to appear in person with all family members.
Before hiring our law firm, we asked many questions and discussed the process at length. Before traveling to Panama we scanned and emailed all of our documents for the attorney to review.
When dealing with Panama, you need to remember these inevitable problems:
* Panamanians fully embrace a Mediterranean lifestyle complete with long lunch siestas, they are often late to appointments (if they show up at all) and rarely, if ever, answer their telephones.
* Not all attorneys speak English.
Our startup capital for our company was $9,000 ($5,000 + $2,000 for two dependents).
Documents
The following documents are required:
* Passport
* Criminal history background check + apostille (must be dated less than 90 days of visa application)
* State ID (driver’s license or state ID or other “official” government ID card) – a notarized copy of this card should be apostillized
* Original marriage license + apostille
* Birth certificates of all dependent children + apostille
Upon arrival in Panama:
* You must obtain a medical checkup from a licensed Panamanian doctor. Our attorney recommended a clinic that didn’t require an appointment. We were able to obtain our medical certificate in about a half an hour.
* Articles of incorporation of your newly formed Panamanian corporation. This can take some time – we ordered our corporation before our first visit and the papers were waiting for us upon arrival.
* Confirmation of solvency deposit. Our lawyer introduced us to a bank who opened our account and gave us a statement of deposit in one visit.
I noticed that it is better to get as many documents translated (or prepared) in Panama as is possible, in this way, no alterations need be made to any documents.
A breakdown of the costs:
* Official fees and taxes (notary)
* Legal (lawyer) fees
* Bank deposit
* Costs associated with opening a Panamanian corporation
Before we came to Panama, we didn’t make any payments with the exception of the formation of the corporation (about $1,400). We wanted to meet our lawyer and verify all fees and expenses before we invested into this process.
We made all subsequent payments to our lawyer and others (bank) as they came up during our first visit.
Here is a summary of the costs we incurred:
$1,400 Panama incorporation (filing and legal fees)
$2,000 attorney fees for primary applicant
$1,000 attorney fees for secondary (and subsequent) applicant(s)
In the end, we did not file for the visa for our child. As we will not be living in Panama, we found that a visa for her was unnecessary: all children under the age of 18 are granted citizenship in Panama when their parents are naturalized. If you are planning to live in Panama, you will need a visa for your child(ren) or other dependents.
$500 bank introduction fee – fee to our attorney for facilitating the opening of a bank account.
$3,300 in official fees and taxes including notary, temporary visas, medical check, translation of all documents and applicable taxes.
In total, for a family of two, $8,200. For this amount:
– Panama corporation in our name (which we already use and we are further studying the benefits of working in the offshore zone).
– Obtained a 1 year temporary residency permit during our first visit
– Received a permanent residence permit for 5 years on our second visit
Additional costs may include:
– Panama bank deposit
– Airline tickets
– The cost of living in Panama City for 2 x 14 days. About half of this time was spent on a Pacific Ocean beach with warm water so I’ll take it as a vacation ;-)
In general, the whole bureaucratic process in Panama can be described as “organized chaos.” But in the end, you have your result.
Opening the bank account took only one day using our attorney’s introduction. The deposit in the account is ours to use later.
The corporation was opened in advance of our arrival.
The medical exam was 30 minutes and included the examination of 3 people. The doctor listened to our hearts and drew blood samples.
We visited the immigration office twice. During both visits, the lines of people waiting for immigration services were huge.

At the end of our first visit, we received a registration stamp in our passports.

During our second visit, we applied for multiple entry visas allowing us to leave the country while our permanent residence applications were processed. Our multi-entry visa was valid for one year.
And then we received our temporary Panama residency cards.
All of the aforementioned stamps, visas, and immigration cards were issued in our first two week visit to Panama. The term of consideration of the permanent residence application is 3 to 4 months. In our case, it took exactly 4 months before our permanent residency cards were approved. When our lawyer contacted us to tell us that our applications were approved we planned our second visit to Panama. We came to the immigration department and our cards were issued to us personally.
An important point: once your permanent residency is approved, you have only 90 days to arrive to Panama to pick up your permanent residency cards or else you will lose your application and you will have to start the process over again.
All negotiations in the government offices and in the banks are transacted in business. If you are not fluent in Spanish, you will need a translator. Our lawyer sent us with one of his Spanish-speaking employees (who served as translator) to each of our appointments.
On our second visit we came back to the immigration service where they took out photos again and then issued us our permanent residency cards.

We did not receive any more stamps in our passports, we only received the residency cards. When we departed Panama at the conclusion of this visit, we were asked for our cards. The border officer examined our cards and then allowed us to pass: our passports were not stamped upon exit.
Panama has a formal dress code in government offices: absolutely no shorts, open shoes, no Hawaii shirts and Women must cover their shoulders.
In order to obtain a passport after 5 years of residency, you will need to show a relationship with Panama. This can be acquired by using your corporation; it is actually better to think of ways to use your corporation: internet business, trade (Panama Canal), consulting, tourism, real estate agency or apartment rental, etc. It is also possible to purchase a house in Panama City or on the coast, spend part of the year in Panama and then rent the house out to tourists during the rest of the year. Due to the strong economy and increasing numbers of retiree arrivals, the price of real estate is constantly growing. Panama is not limited to the seasons of the year. It is always warm, and personally, I like the rainy season. And if you are interested in getting a Panamanian driver license, I share my recent experience of receiving one here.
Note: Dear readers! Thank you so much for your interest to my article and all your comments. I am also very pleased that some of you want to repeat my journey and try to establish residency in Panama. Many of you asked me a lot of questions and also require to share the contact information of the lawyer who helped me with their advice and prepared all the documents to reach my goal – to get Panamanian residency. I tried to answer most of the questions in a separated e-book, where I also share my lawyers contact information. Please download it here and start your own Panamanian journey. Wish you luck! Anna.
at 10:48 pm
Hi Anna
Thank you for a very informative site. I admire your conviction in living your life not trapped by material things.
I really appreciated your detailed description of the Panama residency process. I am about to start the same process. I would greatly appreciate it if you could provide me with some information.
1. What was the total time required for your first visit? You mentioned you stayed 14 days, but did the procedures take all this time?
2. Which bank did you select and do you have any contact details?
3. Which law firm did you use?
Thank You in Advance.
at 4:44 pm
Dear Nasier!
I am glad that you`ve found something useful in my article.
As for my beliefs, I think that people still should try to be free. For me freedom means to live where I want and to travel where I want without problems.
Besides it will never hurt to have a plan “B” or even “C”. Look what`s going on right now in Turkey (looks like a coup) .
Speaking of Panama. It took actually a little less than 2 weeks to get our temporary residency cards. But I would recommend to try to reserve for about 2 weeks, just in case. It would be a pity to come their and don`t get what you are planing to get because of the lack of time…
But we had some preparations before we arrived to Panama. Our lawyer opened a Panamanian corporation for us, checked our documents, told us what we need to get (the documents) before we buy the airline tickets… So make sure that you contact with a lawyer first and arrive to Panama only after he will give you a “green light”.
It is a very difficult process to open a bank account in Panama. They don`t care how much money you have, they want the recommendations (no kidding!). So my advice is also to open a bank account at the bank which your lawyer will recommend you. In our case, our lawyer was a “golf buddy” with one of the bank owners, he gave us a “letter of trust” and prepared other documents and all we did just showed up at the bank.
After we got a permanent residency, we decided to open a bank account in a different bank. What can I say… It took some work, was not easy and we succeeded in only about a month after we started. So I know what I am talking about. It`s really not so easy. My advice is let your lawyer take care of it.
Yes, for sure I can give you my lawyer contact details.
if you will start the process and will get a result I would appreciate if you could find a moment to share it with me, and I would know that the information I am sharing on my blog is still actual.
Hope I answered your questions.
Wish you the best!
at 6:56 am
Hi Anna,
Thanks for this article, it was so helpful!
I had a couple of questions:
1) Do you know if you need to be naturalized after your 5 years of permanent residency to acquire a passport?
2) Could you please forward me the contact info for your immigration lawyer?
3) Do you have a bank you can recommend for foreigners? I’ve heard that Multibank is the best one.
Thanks!
Elisa
at 10:16 pm
Ignore the naturalization question. Of course you need to be naturalized haha
at 12:27 pm
Dear Elisa, sorry for the delay with my reply, last week was pretty busy for me. As i can see according to your additional comment you answered your own question about the “naturalization”. As for my recommendation about the banks, I would definitely recommend to use the bank your lawyer will recommend to you. My experience shows that it`s not so easy to open a bank account in Panama even if being a resident, so I would use an easy way and to open an account in the bank where your lawyer will have the connections.
at 9:54 pm
Hi Anna, Great article thank you so much, I am very interested in starting the process to, currently I live in the UK and I am looking for alternative residency and weather ! :)
May i please have the contact details of your recommended legal adviser?
at 12:44 pm
Hello Rick! I`ve sent you an email.
at 1:24 am
Thanks for the detailed explications. Getting residency is something Im keen to do. My question is, after you obtain your residency, do you have to spend a certain amount of time each year in the country to maintain it?
at 12:23 pm
You are welcome, Rob. If we are speaking specifically about Panamanian residency, than you should come to Panama every 2 years for a week (more or less depends on your desire). It`s enough to keep your permanent residency. And it`s what I like about Panama. But my lawyer told me that if in the future I would like to apply for a Panamanian citizenship, I need to show some connections with the country. So my husband and I have a Panamanian corporation and from time to time we get money to the corporate bank account opened in one of the Panamanian banks. And we are also seriously thinking about buying a property in Panama and probably renting it…
at 1:20 pm
Dear Anna,
Hope time finds you well.
I would like to ask some questions regarding to emigrate to Panama, if it’s possible in private please…
Thanks
Regards,
Vince.
at 3:58 pm
Hello Vince, sorry that I have a chance to read your comment only now. I am sending you an “introducing” email now and you could reply to it and ask your questions.
at 5:34 pm
Hi Anna,
Not a problem.
Just replied there.
Vince.
at 3:42 pm
Great article. It is making me consider Panama as the place to get the second residency. Though it is often told as a good place to retire, do you reckon its also a good place to live in for those in their prime?
Also may i please have the contact details of your recommended lawyer who helped you with the process?
Thanks
at 5:55 pm
Dear Anna, many thanks for shedding light into this visa process, very interesting.
What type of company did found, an offshore corporation or one that can do business in Panama? An LLC or a PLC? Could you please share your lawyer with me?
Wishing you lots of luck and fun with your endeavours in Panama!
at 4:05 pm
Hello Miranda! I am glad if you found this article useful and interesting. As for your question, it`s all on you what type of companies do you prefer. You can have an offshore corporation if it fits your interests and this offshore company can do business in Panama. As for me I have just a trading incorporation, it can do business in Panama and worldwide. I will share the information about the lawyers in my privet message to you. Good luck to you too!
at 12:53 pm
Hi Anna,thanks for your valuable insights into the permanent residence visa process.Would you mind to share the contact data of your lawyer?Although the emigration procedures are reasonably straight forward,the real stumbling block seems to be the in part outrageous information requirements of certain banks for account opening (proof of solvency),without which one can’t even start the whole process.In this regard a good engaged and well connected lawyer can make the difference.
at 8:37 am
Hi Anna – thanks for this detailed information. Absolutely fantastic. I’d like to contact the lawyer you recommended. Could you please send me his details as soon as possible? Thanks in advance. Appreciate it!
at 9:00 am
Hi Anna,
do you know if they it is possible for other nationalities than the 50 mentioned to get the same privileges? Do you know the procedure?
if not then can you please send me a contact of your attorney who helped you out.
thanks a lot.
at 3:11 pm
Hello Mohamad. The easiest procedure of obtaining a residency in Panama for nationalities which are not listed as “friendly nations” is a self economic solvency visa. I will try to write a separate article about it, because many of my friends, being Russians or Ukrainians or South Africans, use this program and I know that it works.
The deal is that you need to invest $300 000 in one of the Panamanian banks for 3 years. After 3 years you can take the money back and still keep your residency. You either can invest this amount of money in the bank or buy a property in Panama.
The procedure looks like this:
1. Arriving to Panama.
2. Opening a bank account.
3. Transferring money to the bank account.
4. Getting a temporary residency for 2 years.
5. Getting a permanent residency.
6. Getting a possibility of applying for a Panamanian citizenship and Panamanian passport after 5 years of keeping a Panamanian residency.
I hope it will help you.
at 2:08 am
Hi Anna – can you give me some information or perhaps some guidance on where to get information for my questions? If a person born, raised and educated in Panama moves to the US and obtains citizenship in the USA and keeps the Panama citizenship as well as owns property in Panama but rents in the USA, and then they move back to Panama permanently? do they forfeit their USA citizenship? If they moved to the USA to obtain Medicare and SSI based on the work they did in PANAMA, who verifies this and how is this legal? By moving back to Panama do they loose the SSI and Medicare?
at 3:02 pm
Hello Liz! Sorry for the delay with my answer, I was so busy during the last half of a year that couldn`t devote even a minute to this blog.
As for your question. I am not very much familiar with medicare. I personally never have used it. Besides now Tramp posted a new insurance plan, so we will see how everything will be changed in the future. But I know for sure that there is no problem with keeping both citizenship: American and Panamanian. It could be a problem only if a person has a green card in the US, not actually a passport. Being a green card holder you have an obligation to spend more time in the US, than in another country. And if a person has a job oversees (like a contract job, for example) than he/she needs to get a special permission to spend more than over a year outside of the USA. But if you are a citizen, you don`t have this problem at all.
at 3:32 pm
Hello Anna, how are you doing my name is Samuel from West Africa, I do like to visit Panama City. although I had a Transit their couples of years ago on my way to Trinidad and Tobago.. So please kindly advice how I can get their visa because there is no any Panamanian High Commission here in Nigeria.. I will be looking forward to read from you thanks a lot.
at 3:34 pm
Hi Anna, my name is Sam from Nigeria how can I get a visa to panama as they don’t have embassy here thanks alot
at 6:06 pm
Hi Anna,my passport has been stamped with the ‘register’ stamp as I’m busy with applying for residency and work permit. I am leaving Panama in June to go on holiday in Cape Town. Do I need permission to leave or not? Regards Marlene
at 2:41 pm
Hello Marlene! Yes, you need a travel parole, and it`s pretty pricey as far as I remember (close to $150…).
at 8:35 pm
Hi Anna! thanks for this detailed information. Absolutely fantastic. I’d like to contact the lawyer you recommended. Could you please email me his details? Thanks in advance. Appreciate it!
at 3:05 pm
Dear Anna,
Many thanks for your fantastic and informative article. Just wanted to know whether the registered corporation actually needs to be trading or not? You mentioned that you “get money from corporate accounts from time to time”. Could you please shed some light on this matter?
Many thanks
Sebastian
at 5:34 pm
Hello Sebastian! I am glad that you found the article useful, it`s my pleasure. As for your question, the bank account could be not trading, just a regular bank account for a corporation, with the abilities to get money on and to send money out… After getting a permanent residency we were able to close that account and probably we will do it during our next visit to Panama (in November of 2017) and will open just a personal account for my name. I hope I have answered your question, if not, please don`t be hesitated to ask again. Wish you best, Anna.
at 4:47 am
Hello Anna,
Thanks so much for taking the time to write this detailed information about Panama. At your convenience, could you please send me the information for your lawyer? I think the lawyer’s help is definitely needed to get through the process.
One question I have is once one obtains the permanent residency and wants to apply for Panama citizenship/passport, one has to show economic activity. This sounds difficult for someone who does not actually plan to do any business in Panama right? Are there any ways around this?
Thank you,
Charles
at 7:38 am
Hello Anna,
Thank you so much for creating such an elaborate and well documented article!
May I kindly ask for a referral to the law firm that assisted you?
Also, if you happen to have any additional info about the corporation process this would be very helpful. I don’t own a business at the moment and frankly ignorance is not always a bliss…
Thanks again for your time, help and attention.
Best,
Daniel
at 11:13 pm
Dear Daniel, you can find more information about obtaining a residency in Panama, including the contact of my lawyers here.
at 1:42 pm
Cool and informative – thanks
at 10:59 pm
Hi Ana
Thanks for this informative post.
Could you please share the info of the lawyer you used in a private email.
Thanks
Sonia
at 6:58 pm
Hello Anna,
My apologies, but this is another request for the name of the law firm you used.
Thanks in advance.
Regards,
Ian
at 11:04 pm
Ian, sorry I didn`t reply earlier. I have many questions about obtaining a panamanian residency and I tried to collect the most common of them and answer all at once. You can find the name of the law firm I highly recommend to use (because the last time I used them was November of 2017 and everything worked out again) and some other information about panamanian residency here. Wish you luck.
at 7:28 am
Hi Anna,
I know that the applicant for permanent residence requires a criminal history background check, but do you need one for the dependents as well?
at 11:55 am
Hello Jenifer! Yes, each dependent over the age of 18 (if I remember the age correctly) requires to have a criminal background check. For instance, my 3 years daughter does not need it, but my 70 years old Mom does and etc.
at 7:26 pm
what is about the reforestation program? does it give passport later?
at 9:32 am
Arif, my lawyers told me that in the reality this way dosen`t work…