The Provisional Resident Permit for nationals from specific countries that maintain friendly, professional, and economic investment relations with Panama is a temporary residency status granted for two years. This permit is designed as a precursor to obtaining permanent residency in Panama and is aimed at those intending to engage in professional or economic activities within the country.
Applicants must meet general requirements, such as providing notarized legal documents, a health certificate, a criminal background check, and making specific payments to Panamanian authorities. Beyond these general requirements, applicants must qualify under one of the following three categories:
- Employment: The applicant must provide a letter of employment from a Panamanian company, along with documentation proving the legal standing of the employer, including registration and operational licenses.
- Real Estate Investment: The applicant must show ownership of real estate in Panama valued at a minimum of $200,000, either directly or through a legal entity where the applicant is the beneficial owner.
- Fixed-Term Deposit: The applicant must maintain a fixed-term deposit of at least US$200,000 in a Panamanian bank, free from any encumbrances, with a term of no less than three years.
Once these requirements are met, the applicant can obtain provisional residency and, eventually, apply for permanent residency, following similar but slightly adjusted requirements. This process is foundational for those looking to establish long-term residency in Panama through economic or professional ties. Any document written in a foreign language must be translated into Spanish by a Panamanian public translator.
If you need to apply for this type of provisional residency in Panama, please send us an email to info@certifiedtranslatorpanama.com or call us at +507 6290-3468.