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Panama

US citizenship

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+507

Currency

Panamanian Balboa (RAW)

Recognition of dual citizenship

yes

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There are no COVID restrictions

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Yellow fever vaccination certificate is required

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Insurance policy recommended

Residence permit

Citizenship

Panama offers several permanent residence permits.

Residence permit through marriage

A legal, valid marriage (not fictitious) to a Panamanian citizen can lead to permanent residency.

Residence permit in exchange for investment

In 2020, Panama established a special way to obtain permanent residency in the country by investment.

Investment options include the following options:

Purchase of real estate

The investment amount must be 500 000 American dollars

Buying shares on the Panama Stock Exchange

The investment amount must be 500 000 American dollars

Creation of a time deposit in a local bank

The investment amount must be 750 000 American dollars

Money for investment can come from foreign sources.

Once a year, during the first five years after receiving permanent residency, the investor is inspected by the Migration Service of Panama. He confirms that he owns real estate, shares or a deposit.

If the investor sells real estate, buys back shares or closes a bank deposit before the set deadline, the residence permit is canceled.

How much does permanent residency for investment cost?

A fee of 5 000 dollars must be paid to the National Migration Service.

If the investor's relatives receive a permanent residence permit, an additional 1000 dollars must be added to the fee.

What is the deadline for obtaining permanent residency?

The deadline for obtaining permanent residency for investments is one and a half months: applications from investors are considered within 30 working days from the moment of submission of the application.

Residence program for pensioners

Retirees who receive a monthly pension paid by a foreign government, private company, or international organization are eligible for this program. Applicants must also provide a health certificate and a criminal record certificate from their last place of residence. Once you receive this residence permit, your status will be protected by any future changes in the law. A possible disadvantage of this program is that you will not be able to apply for Panamanian citizenship.

Panamanian citizenship can be obtained by birth, by naturalization, or by special order.

Citizenship by birth

Citizens who have the right to obtain citizenship by birth:

Persons who were born on the territory of Panama
Persons born abroad who have established residence in the country and for whom at least one parent is a citizen by birth
Individuals for whom one parent is a naturalized Panamanian and who have established residency in the country and expressed a desire to be Panamanian within a year of reaching the age of 18.

Citizenship by special order

Children born abroad, under the age of seven, who have been adopted by a Panamanian citizen, acquire Panamanian citizenship through a special permit after the adoption process is completed with an entry in the Registry of Civil Status.

Naturalization

Naturalization allows a foreign citizen to obtain Panamanian citizenship. The procedure is different in each individual case.

What is naturalization?

Naturalization is the final step in the process of integration into the Panamanian way of life. This gives you the right to vote and run for office.

Since Panama recognizes dual citizenship, applicants for a Panamanian passport do not risk losing their original citizenship, provided the country of origin also allows dual citizenship.

What are the requirements for naturalization?

Applicants for naturalization must pay the required fees and submit the request to the President of Panama along with the following documents:

Documents confirming identification and migration status
A certificate from the authorities about the absence of a criminal record
Confirmation of financial self-sufficiency
Information on tax obligations
Certificate of relevant health status
Test results from the Electoral Tribunal for the language and knowledge of Panama.
Documents and petitions are considered by the Ministry and the National Migration Service.

Who is eligible for naturalization?

Individuals who have continuously resided in Panama for five years
Individuals who have Panamanian children or have married a Panamanian citizen after establishing a three-year residence in the territory
Citizens of Spain or Latin American countries who have established residence in the country.

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