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Inmigration and Visas

PANAMA INMIGRATION VISAS

Compass Offshore Services provides four different Immigration visas options that will allow you to live in an enjoy Panama. If you've followed any of the major survey agencies around the world that rate places for retirement, Panama has been on top of the list in many, and for a few years running. For the fourth time in a row, Panama is ranked number one for retirement living. Bellow you will find of each type of visa and its benefits.

PANAMA RETIRED PENSIONER`S VISA

According to the Immigration Department in the Republic of Panama, it applies to retired and pensioned individuals who are at least 45 years old or cannot work because of a physical disability. Applicants for a  retired - pensionee-visa must prove to the Panama Government that you have a permanent income of 750.00 US dollars monthly (plus US$100.00 for each dependent). Funds must come from the applicant's pension or retirement funds (Social Security Office, Government, Private Companies or International Organizations).

As an alternative, the Panamanian Government also offers the program allows foreigners to obtain immediate Panamanian Passport under the condition that they have to earn a minimum of US$750.00 monthly interest from a 5 year Certificate of Deposit (CD), at the Panama National Bank.


Benefit:  Allows retiree, spouse and dependents to live in Panama. Retirees may import up to US$10,000 in personal goods (furniture etc) duty free, and are allowed to import an automobile duty free each two years. Panama has the best “pensionado” program (retirement program for foreigners) in the world.

Required Documents for Retired Pensioner's Visa:

  1. Photocopy of valid passport of the applicant, 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).
  2. Original Police record of the applicant, from the place of residence,
  3. Original Birth Certificate of the applicant, and dependent.                   
  4. Original Marriage Certificate for the applicant and dependent
  5. Six (6) passport sized photographs of the applicant and dependents..
  6. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant has no contagious diseases and is in good mental and physical condition. This must be done during your initial visit to Panama.
  7. Financial letter from your bank, Social Security Office, Government, Private Companies or International Organizations or proof of your annual income.

    Note: All documents must be apostilled or authenticated by the Panama Consulate in your country.


Compass offshore services provide to you:

  1. Special Power of Attorney, signed by the applicant, authorizing our company to process the immigration applications and documentation.
  2. Documents authenticated by the Panamanian Authority
  3. PodAssist you in opening bank account

PANAMA SELF ECONOMIC SOLVENCY VISA
 
Designed for those people who which to live in Panama, not being employed or starting a business, but living of their own means and solvency. Investor  must deposit US$100,000 in a two year  minimum Certificate  of Deposit in a Panamanian Bank.

Benefit: This immigration program entitles investors (and their dependent) to eventual permanent residency in Panama  without having to open a business.

Required Documents for Self Economic Solvency VISA

  1. 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).
  2. Original Police record of the applicant, from the place of residence (and spouse & dependents over 18 years of age - if applicable), duly notarized and authenticated by the Panamanian Consulate nearest you.
  3. Original Marriage Certificate for the applicant (and dependents - if applicable), duly notarized and authenticated by the Panamanian Consulate nearest you.
  4. Birth Certificate (for the dependents only), duly notarized and authenticated by the Panamanian Consulate nearest you.
  5. Six (6) passport sized photographs of the applicant (and dependents - if applicable).
  6. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition.

THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA.


Compass offshore services provide to you

  1. .Special Power of Attorney, signed by the applicant (and dependents - if applicable), authorizing our law firm to process the immigration applications and documentation.
  2. Letter of Responsibility, signed by the applicant, whereby the applicant takes responsibility for his/her dependents.

    * Note: for authenticating documents through the Panamanian Consulate, please contact us to request the contact information of the Panamanian Consulate nearest you.

PANAMA SMALL BUSINESS INVESTOR:

This Law allows foreign business owners to obtain legal residency in Panama under the condition that they invest at least US$40,000 in either a new business venture, or an established company in Panama. Part of the requirement is that the business must employ at least 3 Panamanian employees paying them at least minimum wage, with social security benefits.
Benefit: Immigration visa also applies to spouse and dependents.

Required Documents for Small Business investor

  1. Certificate of Good Health, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition.
  2. Notarized and authenticated police record from the place of residence for the applicant (and spouse & children - if applicable).
  3. Certified or notarized Birth Certificate of the applicant (and dependents - if applicable).
  4. Marriage Certificate for the applicant (and dependents - if applicable).
  5. Valid passport of the applicant (and dependents - if applicable).
  6. Four (4) passport sized photographs of the applicant (and dependents - if applicable).
  7. Financial reference letter from your bank, credit union, or brokerage / investment firm.


*All documents must be apostilled or authenticated by the Panama Consulate in your country.

Compass offshore services provide to you

  1. Power of Attorney allowing our company to act on behalf of the applicant (and dependents – If applicable).
  2. Letter of Responsibility, signed by the applicant, whereby the applicant takes responsibility for his/her dependents

PANAMA MULTIPLE  ENTRY AND EXIT VISA

The Government of the Republic of Panama provides Residency Visas for foreigners so they can establish residency and permanently reside within the territory of the Republic of Panama.
The Multiple Entry & Exit Visa allows foreigners to enter and exit the Republic of Panama as many times as necessary during the validity of the Multiple Entry & Exit Visa, or until the expiration date of the Visa.

Required Documents for Multiple entry and exit VISA

  1. Original and Photocopy of complete valid passport of the applicant, including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all other pages (all pages of the passport).
  2. Two (2) passport sized photographs of the applicant.
  3. Document that proof that you are an Immigrant or a Permanent Resident.

Compass offshore services provide to you:

  1. Special Power of Attorney, signed by the applicant, authorizing our law firm to process the immigration documentation for the Multiple Entry & Exit Visa.
  2. Application Form, signed by the applicant, requesting the Multiple Entry and Exit Visa.

PANAMA REFORESTATION VISAS

Panama has two very attractive programs that allow forestry investors apply for legal residency/ immigrant status in the Republic of Panama. It does not matter which of these two programs you decide to use, they both give the Forestry Investor the right to apply for citizenship after 5 years from initial application. The applicant does not actually need to live in Panama, however they do need to present themselves to immigration authorities in Panama.

For both Forestry Investor programs, we have the following.

General Rules:

  • All visa applications must be handled through a Panama Lawyer.

  • All overseas documentation presented to the authorities in Panama must be authenticated by the Panama Consulate nearest you or by Apostille.

  • All applicants, regardless of the type of visa that you choose, must present a Police Record, or if it sounds better, a Police Clearance Report. This document is less complicated if optioned through your Local County Sheriff Dept. and it must be presented on a letterhead of the Police dept. It should also be duly signed by an official from that institution. The document does not need to be finger printed. For further assistance, please contact us.

  • All documents must be issued no more than 4 or 5 months prior to visa application.

  • Passports must have at least 6 months validity.

  • In both cases dependents can be included in the program. That is, the applicant’s children that are under 18 and one spouse. Children between the ages of 18 and 25 years of age that are studying, single and childless can also be considered dependents. In any case, a marriage certificate must be produced and for the applicants children a birth certificate. Do not bring originals since immigration will keep these, bring updated official transcripts.

  • All visa applications in Panama require you to apply for a health certificate in Panama. Your legal council should help you with this prior to the application process.

SMALL FORESTRY INVESTOR VISA

  • Minimum investment is US$40,000.00.

LARGE FORESTRY INVESTOR VISA

  • Minimum investment is US$80,000.00
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