Can I get citizenship in Panama?

Almost every country has some kind of residency program available to foreigners. But few (if any) can compare to Panama for ease of application and cost, not to mention the incredibly diverse selection of programs it offers.

Panama’s residence-by-investment program allows high-net-worth individuals to contribute to the development of the tropical maritime nation, while acquiring permanent residence and investment opportunities. The process can be completed in 30 days or just over four-six months, depending on the option chosen, and citizenship is possible after five years.

Another of Panama’s popular residency options is its Friendly Nations Visa, which provides a streamlined path to citizenship for citizens of 50 select countries. Citizens of the US, Argentina, Costa Rica, Australia, Canada, France, Germany, Hungary, Italy, Portugal, Singapore, South Africa, Switzerland and the UK are all eligible for this program, which grants residency after just six months and permanent residency after two years.

The main requirement is a deposit of at least $500,000 in a Panamanian bank account, with an additional $25,000 required for each dependent. The property can be in the applicant’s name or in a Panama private interest foundation (the primary applicant must be either a beneficiary or a creator).

Alternatively, you could purchase an annuity that pays out a minimum of $10,000 per month to qualify for residency, provided it is guaranteed by a reputable international company. This is a popular option for those who want to retire in Panama but may not be ready to make the move right away.

A clean police record is also necessary and must be apostilled or else authenticated by a Panamanian consulate. In addition, applicants will need a medical certificate for themselves and each family member, which must be carried out by a Panamanian doctor.

At Mundo, we have a great team of experts who can help you get your Panama resident permit with minimal fuss and expense. Once you’ve obtained your visa, you can start enjoying the many benefits of life in Panama, from the excellent infrastructure and climate to the low crime rate and affordable cost of living.

Of course, the ease with which you can obtain residence in Panama won’t necessarily determine whether you’ll be happy living there. The key to choosing a location is to do your research and choose the one that best suits your personal needs. To learn more about the different options available to you, contact the Mundo team today! We’ll be happy to answer all your questions.