The Friendly Nations Visa is ideal for those who are not retired and/or cannot prove a lifetime income, like Social Security or a Pension. The only income you will need to prove is putting $5,000 in a Panama bank account. For each additional dependent, you will need to add an extra $2,000 to the bank account. The Friendly Nations Visa allows you to get a work permit so you can sell products or services in Panama. To get any Visa in Panama, you will need to provide a nationwide criminal report, like an FBI report. If married and applying together, you’ll also need a certified copy of your marriage certificate.
If hired as a professional by a Panama company, the decree orders the Ministry of Labor to fast track the issuance of a work permit. (The Work permit if need it has an additional cost of $600) In addition, the foreign professional must register with Panama’s Social Security Administration. The employer will need to provide an employment contract or a letter explaining the professional capacity the foreigner is hired for. Certain professions are restricted only for Panama citizens like architects, attorneys, engineers, and medical & veterinary doctors.
Our attorneys can create a company for you for an additional $1,700 fee + $300 legal resident cost per year (first year is included on the incorporation cost).
The Panama 50 Friendly Nations
United States of America
United Kingdom (Great Britain & Northern Ireland)