Emigrating to Panama
Emigrating to Panama
If you are investing or have invested US$40,000 in a non-retail business in Panama and have employed 3 Panamanians quite effectively, then you are eligible for permanent residency. Owning a house worth US$80,000 and having a timed deposit of at least US$120,000 as well as having proof of your source of income that is used for your subsistence will also make you a qualified applicant for a permanent residency visa. If you have a timed deposit account of US$200,000 CD in a bank in Panama for at least two years or if you have been married to a Panamanian, you are also eligible for the visa.
You have to remember that when you become a permanent resident in Panama, you must also pay taxes on your income. This is if you are earning an income that comes from sources in Panama, excluding income from bank accounts or securities from public companies in the country.
You can also migrate to Panama by getting a Pensioner Visa. If you are holding a US$125,000 CD in the Panama National Bank that yields US$750 monthly for 5 years, you will be granted a pensioner visa as a Retiree. You can also get a visa as a Pensioner if you earn a pension of US$500 monthly from any foreign social security authority.
