½ûÂþÌìÌÃ

I know people who have the Friendly Nations visa and who have set up their own business. Or, you also have the option to apply for permission to work so you can get a job. They are becoming strict about enforcing the laws that a business can only have 10% of it's employees be foreigners, so that route might be a bit harder.

Thanks for your reply. So it's a choice of opening a business or getting a work visa? There's so much information out there it's hard to work out what's what. The same with dual nationality? Is it legal or is it not?! 😂😂

Yes, that is my understanding, though I have no experience with this myself so check with a lawyer to be sure.

I also have no experience with citizenship here, but I know there are people with dual citizenship. I have heard it's fine to be a citizen of the US and Panama, but I have read US law that says if you willingly take citizenship in another country, you are renouncing your US citizenship. Rumor is that this really isn't an issue and people do it all the time without problems, but I have family in the US and wouldn't think of risking it. And, with the politics in the US at the moment, who knows what might happen? I'm legal here and have everything I need so I don't see what I would gain with a Panamanian citizenship, and I've heard that even if you renounce your US citizenship the IRS will be after you for something like 10 years.

I know...  clear as mud   Maybe best to spend a couple months here, and if you think it is going to work for you start the process of applying for residency. I think you have to be a resident for 5 years before you can even start the process of applying for citizenship so that's a discussion for later.

Absolutely :-) thanks for your replies :-)

i want to apply for panama.i live in pakistan.

   I don’t be see Pakistan on the list, so I imagine you would have to apply for a visa. I don’t know that process though.

Hello,

The Friendly Nations program can get you a permanent residency in about 2-3 months time and will cost about $8k USD. You will be required to set up a corporation in the name of your choice. This is to demonstrate an economic tie the country in order to qualify for the permanent residency. You are also required to set up a bank account and make a bank deposit. You can choose to work if you want as a permanent resident and you won't need a sponsor but will still have to apply for a work permit.

You can contact me anytime about more questions on this. I am happy to help.

Sorry, Pakistan is not a friendly nation member country. You will need to invest $300k USD in Panama to qualify for residency.

mikkey201 wrote:

Hi all. I'm looking for some information about the Friendly Nations Visa. Do those who apply and set up a business actually run a business? Or is it just a loop hole to jump through (and pay for) but without any actual dealings with the business? I don't understand why you'd need to start a 'business' and then have the option to apply for permission to work..

Apologies for my ignorance. I've been looking at applying for the Dominican but they're in the process of changing their visas. Basically I'm looking to get permanent residency abroad as a general back up should anything happen and as somewhere to retire in my later years.

Also in what region can I expect to pay for a lawyer to assist with the visa application?

Thanks in advance

Mike

Hi guys, sorry for bringing this old thread up, but it deals with the same questions I have.
I have similar intentions and look for a permanent residency as a backup in case I decide I want to leave my home country. Getting the permanent residency in Panama via the Friendly Nations visa seems like a good option. However I have several aspects I don't understand about it.

1. Let's say I open up a Panamian company in order to get the permanent residency, do I have to maintain the company in the following years or can I just close after I get the permanent residency along with the Cedula?
So how permanent is the permanent residency? On some websites I read you are awarded the permanent residency for life and only have to come at least once every two years + renewing your cedula every 10 years and that's it.

2. The guy who invented the friendly nations visa, the former president, is in jail now as far as I know. I know this involves speculation, but from those living in Panama, how stable is legal security in Panama? Can they revoke permanent residencies on the basis that it was obtained under a certain president?

3. As I mentioned my understanding is that in order to maintain the permanent residency, you need appear in Panama at least once every two years. That wouldn't be a problem for me, in fact I have no problem to stay there every year for a few weeks or a couple of months. But is it possible that they change the rules and say in order to be a permanent resident you need to stay for let's say 180 days per year? Again this question targets the stability of the Panama's legal framework.

4. Can anyone recommend any other options? Alternative countries? So far Paraguay seems an interesting option although eventually getting a citizenship much more complicated than in Panama.

I know I'm asking a lot of questions. However where else can you ask these questions, there are so many people here with so much experience. So thank you for your time and sharing your knowledge!

Hello,

Assuming you are Russian as it seems on your profile you do not qualify for the friendly nations program.

Hi guys, sorry for bringing this old thread up, but it deals with the same questions I have.
I have similar intentions and look for a permanent residency as a backup in case I decide I want to leave my home country. Getting the permanent residency in Panama via the Friendly Nations visa seems like a good option. However I have several aspects I don't understand about it.

1. Let's say I open up a Panamian company in order to get the permanent residency, do I have to maintain the company in the following years or can I just close after I get the permanent residency along with the Cedula?
So how permanent is the permanent residency? On some websites I read you are awarded the permanent residency for life and only have to come at least once every two years + renewing your cedula every 10 years and that's it.

2. The guy who invented the friendly nations visa, the former president, is in jail now as far as I know. I know this involves speculation, but from those living in Panama, how stable is legal security in Panama? Can they revoke permanent residencies on the basis that it was obtained under a certain president?

3. As I mentioned my understanding is that in order to maintain the permanent residency, you need appear in Panama at least once every two years. That wouldn't be a problem for me, in fact I have no problem to stay there every year for a few weeks or a couple of months. But is it possible that they change the rules and say in order to be a permanent resident you need to stay for let's say 180 days per year? Again this question targets the stability of the Panama's legal framework.

4. Can anyone recommend any other options? Alternative countries? So far Paraguay seems an interesting option although eventually getting a citizenship much more complicated than in Panama.

I know I'm asking a lot of questions. However where else can you ask these questions, there are so many people here with so much experience. So thank you for your time and sharing your knowledge!

joyfulfeet_immigration wrote:

Hello,

Assuming you are Russian as it seems on your profile you do not qualify for the friendly nations program.

Well, the assumption is neither wrong nor correct ;-). I am citizen of one of the 50 nations that are considered friends of Panama. But let's stick to the topic :-).

Yes, I understand. I was just trying to save you trouble about worrying about a program you may not qualify for. So basically:

1. You don't need to maintain the company. However you may want to if you plan to try to apply for citizenship one day.
2. Very stable, I wouldn't worry about this.
3. Not true. This 2 year visit schedule is just what most recommend if you are trying to apply for citizenship one day. However, this is only an internet suggestion. Permanent residency is PERMANENT.
4. I can recommend other countries but won't because in all my experience dealing with countries around the world Panama still is the best overall.

joyfulfeet_immigration wrote:

Yes, I understand. I was just trying to save you trouble about worrying about a program you may not qualify for. So basically:

1. You don't need to maintain the company. However you may want to if you plan to try to apply for citizenship one day.
2. Very stable, I wouldn't worry about this.
3. Not true. This 2 year visit schedule is just what most recommend if you are trying to apply for citizenship one day. However, this is only an internet suggestion. Permanent residency is PERMANENT.
4. I can recommend other countries but won't because in all my experience dealing with countries around the world Panama still is the best overall.

I'm sorry, my profile is a little bit confusing in that regard :-). Thanks so much for your detailed and yet to the point answer, that really helps in the jungle of the internet. Even some attorneys write on their website that they recommend to visit at least once every two years in order not to get your permanent residency revoked (!). That's why I was wondering what permanent actually means.

Hello

Actually, the Law states that you cannot leave the country for two years if you have your permanent residence status as immigration can cancel the Visa. However, this rarely happens. I have a client that came back to Panama after 5 years of getting his permanent residence and nothing happened, he still has visa permanent residence, in fact, he has a Panamanian cedula.

As far i know Panama does not have dual citizenship.

For what else then the low taxation good salary level
compared to other increasing countries and the
warm climate should any one go to Panama if
their country of origin offers the better legal stability
then the Panama's legal framework? I wouldnt leave
my citizenship behind to change to a panamaian
only about the low taxation - as i sometimes really
hate the gov here for what they do.
Banking a.e. is bad and tricky in Panama. UBS, CS,
Deutsche Bank or the HSBC i didnt found yet in Panama.
Only the anglosaxony crooks are there.

A.e., Turkey or Singapur offers in theory the higher
income and a low taxation by stabil legal framework.

Russia i would keep in mind but the difficult
language the bureaucrazy low average salary and
high taxation for expats kicks them out of interest
to make there business, or settlement. If you are not
a global player. But they have a good education, and
are good workers.

Yes, it technically has been a law that has never been enforced that you can not leave for more than 2 years. Decreto Ley No. 3. There are other laws in the same category as well as some citizenship requirements. They were created and never enforced. The general rule from immigration was always as long as you have your permanent resolution it is permanent. There are also exemptions, and reinstatements that are available even for some sudden reason it was enforced.

I have updated in another thread that under the new president and his administration there is talks that they WILL start enforcing all laws on the books and there is great potential for new laws as well as stricter immigration regulations. Before it didn't matter, permanent residency was permanent. Now we are waiting for clarifications from the new government to see if there will be changes that will need to be followed.

Would you advise that if we are in the beginning of the process to immigrate to Panama, that we must wait and see what the change  will be?

What is the feeling in Panana between expats, still a better option than for instance South Africa?

I’ve heard a number of people wanting to get out of South Africa because of racial tensions and violence against white people. Others who have first hand knowledge of this are likely to pop up here with better info.
I wouldn’t hesitate to begin the process of immigration to Panama. I think the main concerns are for people wanting to live in Panama as tourists rather than get legal.

Ignorance is not an excuse. Never!

I would say there are much more important factors to consider first if considering to relocate to Panama for the long term and only you can determine those. I would say the rumors/news should add some slight weight to your potential "Yes to Panama" decision.