Panama includes Peru in the list of Friendly Countries

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By Executive Decree No. 226 of July 20, 2021, Panama includes Peru in its list of Friendly Countries, which allows people of Peruvian nationality to apply for a Permanent Resident permit through this category.

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The National Immigration Service may grant a Provisional Residence permit for a period of two years to those persons who request the Permanent Resident subcategory, as foreign nationals of specific countries who maintain friendly, professional, economic and investment relations with the Republic of Panama, in order to carry out economic or professional activities, in accordance with the provisions of this Executive Decree.

To do so, all applicants must meet requirements such as a police record, copies of passports, health certificates, passport-sized photographs and must provide documentation that demonstrates the purpose of requesting their residence based on the economic or professional activity to be carried out, except for activities or professions reserved by law for nationals, which may be demonstrated for any of the following reasons:

For work reasons:

1. Letter of employment on letterhead, signed by the employer’s legal representative, certifying the position, salary and commitment to assume repatriation expenses, as applicable.
2. Certificate from the Public Registry of Panama of the employing company.
3. Notice of Operation from the employer company. In the event that the employer company is not required to maintain a Notice of Operation, proof must be provided, as established in article 4 of Law 5 of 2017.

For the approval of the Residence Permit, the applicant and his/her employer will be required to process before the Ministry of Labor and Labor Development the work permit that authorizes the applicant to work in the national territory.

For investment in real estate: Certificate from the Public Registry of Panama proving the ownership of the real estate, in the applicant’s personal capacity, of a legal entity in which the applicant is the natural person who is the final beneficiary of the shares, contributions or social quotas of the company; or, founder and final beneficiary of a private interest foundation; provided that the real estate has a minimum value of two hundred thousand dollars (US$200,000.00). The operation of acquiring the real estate may be financed through a local bank.

For Fixed Term Deposit Reasons : Certification from a general license bank operating in the national territory, stating the existence of the deposit, its owner, the value, the term and that it is free of liens, with a minimum validity of three years and for a value of no less than two hundred thousand dollars (US$200,000.00). This investment may be made in a personal capacity by the applicant, by a legal entity in which the applicant is the natural person who is the final beneficiary of the shares, contributions or social quotas of the company; or, founder and final beneficiary of a private interest foundation.

This option allows you to obtain Provisional Residence for two years and apply for Permanent Residence in the third year. If you prefer to opt for Permanent Residence directly, the Qualified Investor option grants Permanent Residence in Panama within a period of no more than thirty (30) days, with a real estate investment valued at US$300,000.00.

Descargar el Decreto Ejecutivo 226 [/vc_column_text][/vc_column][/vc_row]

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