FRIENDLY NATIONS VISA
The friendly nations visa is unanimously voted by experts to be the best, fastest and cheapest permanent residency visa available today. The Republic of Panama has made this option available to passport holders of 47 countries which are deemed important to the growing economy of the nation. This includes South Africa, United States of America, all European countries– including Spain, Italy, Germany and France– along with many others
If you are from any of the above mentioned countries, all you need is a clean criminal record certificate (in some cases a waiver can be obtained), a clean bill of health, and a registered Panamanian company.
This you will be able to get your initial residency card in 4 weeks and permanent residency card in 3 months from the day of application. Besides from the actual residency fees, all you need is 5000 $ in your personal bank account. It is that easy. That is why many Europeans, South Africans, Americans, as well as many others are finding Panama to be the best place to live and conduct business.
The advantages of the Panamanian Friendly Nations visa include:
- You have permanent residence which means you are entitled to all the rights Panamanians have except voting. After 5 years you will be eligible for a Panamanian Passport.
- You are fully and legally entitled to work for Panamanian companies in most professions (with an additional application granted as of right). You can also hold driver’s license, bank account, gun license, etc.
- You can own or start any business in Panama and will not be taxed on your worldwide income. This means that if you make money from investing in cryptocurrency, shares, bonds, international real estate, consultancy or international business, you will pay no tax on this money in Panama and can legally declare it as your personal income.
- There is no minimum stay requirement, which means you can travel internationally or go on a worldwide yacht trip, and Panama will not revoke your residency. In fact, as long as you come here for a few days a year you will still be welcome as a permanent resident. This makes Panama one of the few countries in the world not to tie residency to minimum stay periods.
- Panamanian residents are eligible to open bank accounts in Panama which gives them access to a banking system rivaled only by Switzerland in terms of diversity, confidentiality and safety. Furthermore, with the correct income statement, residents are eligible to borrow from Panamanian banks in order to invest in the local economy, which is predicted to have an investment boom in 2020.