Passport and Citizenship in Panama

Citizenship by Investment | Get Second Passport in Panama

Panama is a country in Central America. Its official name is the Republic of Panama, and it is most famous for the Panama Canal. Countries bordering Panama are Costa Rica in the Northwest and Colombia in the Southeast. Panama is between the Caribbean Sea and the Pacific Ocean. Most of the people in Panama are Roman Catholic (about 80%).

The country is best known for the Panama Canal, a man-made waterway, opened in 1914. The canal cuts through the isthmus, linking the Caribbean Sea (Atlantic) with the Pacific Ocean.

Panama occupies an area of 74,177 km², making it slightly larger than the Republic of Ireland or slightly smaller than the U.S. state of South Carolina.

Panama’s landscape is mostly montainous. The highest point in Panama is Volcán Barú, an active stratovolcano with an elevation of 3,475 m (11,460 feet) is located in west close to the border with Costa Rica.

Panama has a population of 3.4 million people (2010 census); capital is Panama City; official language is Spanish.

 

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Main Benefits of Obtaining Citizenship in Panama through the Citizenship-by-Investment Program

  • Applicant is entitled to the unrestricted right to live, work, and travel in and out of Panama.
  • Due to the country’s membership in CARICOM, the passport received upon approval for citizenship will be a CARICOM passport, valid for travel to the other membership countries.

Main Requirements

Hold no criminal record.
Applicant must have high net worth
Have proof of funds, and show that the funds were acquired legally
Be at least 18 years of age

Investment Options

Investment in the Self Economic Solvency Visa (SESV)

The SESV requires only a minimum investment amount of $300,000USD and has three ways.

1)It allows the foreign national to invest the required amount into a Panama bank certificate of deposit for a minimum period of three years. The CD must be in the national’s own name. If the national is bringing dependents to Panama, the national must invest an additional $2,000USD per dependent. Any interest gained can be deposited into a Panama savings account and is not subject to income taxes.

2)It allows a foreign national to invest a minimum amount of $300,000USD into Panama real estate (the same $2,000USD per dependent applies).

3)It offers the possibility to combine the two options. The minimum $300,000USD can be divided between a CD and real estate (the same $2,000USD per dependent applies).

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Investment in the Panama Restoration Visa (PRV)

The PRV allows applicants to invest into government approved reforestation projects in order to obtain Panama permanent residence. To take advantage of this program, the foreign national must invest at least $80,000USD into one of the reforestation projects, and the investment is used to purchase at least five hectares of forest.

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