Types of Resident Visas as of 2011

Since 2008, there are not new types of resident visas in Panama. However, the most populars are:

Pensionado Visa: For this visa, applicants may receive a pension of at least USD$1,000.00, plus USD$250.00, in case of dependant.

This pension could be from the social security or from a private pension program. But, in the case of private pensions, extra documentation proving the income and the existance of the company that pays the pension must have to be provided.

Self-income visa/Person of means visa: For this visa applicants may invest at least USD$300,000.00 in a property in Panama, get a long term deposit for a minimum of three years in a local bank for the same amount; or finally, do a combination of both figures.

This visa does not allow a corporation to be the owner of the property; it could only be under the personal name of the applicant or through a foundation in which the applicant is the founder.

*Please, take in consideration that when you file an application in the Immigration Deparment, you are entitled to get a temporary card. When your application is in process, in order to leave the country and come back again, you may need a "Multiple Entry Visa"; without it, you take the risk of getting a fine for USD$2,500.00.