At LEGAL@work, we understand that the process of obtaining Permanent Residency in Panama can be overwhelming, especially when it comes to meeting the financial requirements. Our team of experienced attorneys is here to guide you through the process and ensure that your application is successful.
The Permanent Residency for Economic Solvency through Mixed Investment (PPT-SEP-IM) program requires foreign applicants to invest a minimum of 300,000 balboas in real estate or fixed-term deposits, or a combination of both, and demonstrate that the funds originate from abroad. This permit will be valid for a term of two years, after which the applicant can opt for permanent residency. To include dependents, an additional investment of B/.2,000.00 per dependent must be made and can be justified through a local bank reference.
The requirements for this program include:
Exceptions to the rule include:
18. When the properties are in the name of a private interest foundation, the foreigner may apply for this permit as long as they demonstrate that the founder and he or his dependents are the beneficiaries. The Public Register certificate must show the designation of the founder and beneficiary.
19. Applications for Permanent Residency for self-sustaining economic solvency will be considered for those foreigners who have invested a minimum of 200,000 balboas and less than 300,000 balboas in real estate in the national territory, and who, due to force majeure or fortuitous events, were unable to prove the ownership of the property before the entry into force of this regulation.
Our legal fees will vary depending on the complexity of the case, but we will provide a detailed estimate at the beginning of the process. With LEGAL@work, you can trust that your application will be handled with the utmost professionalism and accuracy. Don't hesitate to contact us for more information or to schedule a consultation.