Panama Info

 

GET SECOND RESIDENCY AND CITIZENSHIP IN PANAMA

Panama has a relatively easy and straightforward process when it comes to becoming a resident, and citizenship can be obtained after only 5 years. You can get started with your Panama residency by making a bank deposit, and opening a business or making an investment.

HERE IS WHY YOU SHOULD GET A SECOND RESIDENCY IN PANAMA?

 

  • You can apply for Panama citizenship after five years
  • The process is inexpensive and straightforward
  • Panama only requires a small bank deposit to qualify, and opening a business is affordable
  • There are no minimum income requirements
  • You do not need to relocate to Panama to maintain residency
  • Panama speaks Spanish, an easy language to learn
  • The country’s economy is constantly growing

HOW OT WORKS

Time to Citizenship: 5 years
Economic Citizenship: Yes
Minimum Investment: Bank Deposit of US$5,000 and opening a business
Physical Presence: Minimal
Nationalities Allowed: “Friendly Nations”

TAXES AND COSTS

Cost of living: $1,500+
Income Tax Rate: 7-27%
Taxes Foreign Income: No

THE PANAMA PASSPORT

Visa Free Countries: 124
Passport Ranking: 28th
Can Visit Europe: Mostly
Can Visit the US: No

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