Italians can become Panamanian residents and enjoy the benefits of the territorial tax system. Italian citizens have extremely favorable residency options in Panama.
Benefits of Panama Residency for Italian Citizens
Italian passport holders may obtain Panama residency thanks to the existing 1966 treaty between Italy and Panama. Some of the benefits of the Italy-Panama treaty include:
Italian citizens may apply regardless of any other citizenship
Dependents may apply with the main applicant regardless of their citizenship
Visa does NOT require $800 repatriation deposit which is required for other programs
You only pay $250 in government fees for applications
Visa does NOT require neither an initial investment nor purchasing a property in Panama
This process also provides a path to obtain Panamanian ID (cedula)
Who can apply for the visa for Italian citizens?
This visa is granted to any Italian citizen who wants to establish a permanent residence in Panama. The objective is to promote commerce between both countries; therefore applicants need to prove intentions of future business activities in Panama.
Requirements for the visa for Italian citizens
Five passport photos and valid passport
Criminal background check (apostilled or legalized)
Good health certificate
Open a bank account with an initial deposit of $5,000
Copy of Italian personal ID
Create a Panamanian company
Timeline for visa for Italian citizens
Open personal bank account – 1 to 5 days
Passport registration application for residence and multiple entry visa – 3 to 5 days
Permanent residence approval 3 to 6 months
Obtain the Cedula (Panama local ID) – 45 to 60 days