Panama modifies the Friendly Nations Visa program and includes the Republic of Peru

Through Executive Decree No. 226 of July 20th, 2021, the Panama Friendly Nations Visa program has been modified to now include the Republic of Peru among the list of nations that maintain friendly, professional, economic and investment relations with the Republic of Panama.

The Decree indicates that the National Immigration Service may grant a Provisional Residence permit for a period of two years to nationals from those nations on the list of Friendly Nations, who request the subcategory of Permanent Resident; if they provide the documentation that demonstrates the purpose of requiring residency, either by:

Labor reasons: Letter of employment on letterhead, signed by the legal representative of the employer, Public Registry certificate and Notice of Operation of the employing company.

Real estate investment reasons: Public Registry certificate that proves ownership of real estate that has a minimum value of US 200,000.

Fixed-Term Deposit reasons: Certification from a bank with a general license that operates in Panamanian territory, stating the existence of a fixed-term deposit for a value not less than US 200,000.

Both the investment in a real estate or the fixed-term deposit can be made in the personal capacity of the applicant, or of a legal person in which the applicant is the natural person who is the final beneficiary of the shares, contributions or quotas; or the founder or final beneficiary of a private interest foundation.

To access Executive Decree 226, please click here: