Why get a Panamanian Residency?
If you plan to live in Panama, you can only stay five months then you need to leave for at least 30 days before you can come back with the regular Tourist status. If you’re driving, you can only stay for 90 days, then you need to leave for at least 30 days before you can come back. To avoid this problem, you will need to get a residency Visa. Once you have a residency Visa, you can live in Panama as long as you want to.
But, you are not required to live in Panama full time. You only need to come back to Panama every two years and stay for a few days.
Five years after getting your permanent Residency and ‘Cedula’, you can apply for a Panamanian citizenship and a Panamanian passport, and being able to travel visa-free to 80 countries.
Once you get your permanent Visa and if you meet the age requirements (55 for women and 60 for men), you will qualify for these discounts:
- 50% off on recreation and entertainment such as movies, theaters, sports, etc.
- 50% off hotels Monday through Thursday (30% off on weekends)
- 50% off panamanian passports (if you get panamanian citizenship)
- 50% off movie theaters (about $2 with your discount)
- 30% off public transportation like buses, trains, and boats
- 25% off airfare
- 25% off restaurants (15% off fast food)
- 25% off electrical, telephone, and water service
- 20% off doctors and specialists
- 20% off prosthetics and other personal assistance devices
- 15% off hospitals and private clinics
- 15% off dental and optometry services
- 10% off prescription medications
- tax-free importation of household goods, up to $10,000
- tax-free importation of a vehicle, or tax-free purchase of a local vehicle
These discounts alone pay for the Visa within a few years!
Getting a Visa with us is pretty easy.
The process always starts with buying your RESIDENCY PACKAGE ONLINE, please be sure you pick the right residency, if you are not sure which one best suites you don’t hesitate to CONTACT US and one of our representan will guide you to pick your best option. Once you picked your RESIDENCY PACKAGE our attorney will email you a list of documents you need to bring with you to Panama to apply for a Visa. Some of the documents will need to be authenticated. Yes, you do need to be in Panama to apply for a Visa, but we can start all the paper work required in advance after you check out. When you apply for a Visa, you will be issued a temporary Visa card which is good for six months. About three months later, your permanent Visa will be ready and requires another trip to Panama City to pick it up. About 30 days later you can get a Cedula. A Cedula is a national ID card. You are not required to get a Cedula but I highly recommend it because it will make your life so much easier when you live in Panama.
During the time between getting your temporary Visa and your permanent Visa, you are required to stay in Panama UNLESS you get a multi-entry Visa stamp in your passport. The multi-entry Visa stamp allows you to leave the country and come back any time while you are waiting for your permanent Visa. If you leave the country without a multi-entry Visa stamp then attempt to come back in to Panama, there is a $2,000 fine. So you definitely want to get the multi-entry Visa stamp if you plan to leave the country. (This Multi-entry Visa Stamp has an additional cost of $250).
WONDERING WHAT’S THE COST OF LIVING IN PANAMA? CHECK THIS OUT THIS ARTICLE