Residence in Panama

Square Tree Corp. is pleased to accompany the client who wishes to transfer his residence in Panama by helping him in the documentation and practical requirements:

  • Assistance in the application, the collection and verification of the required documentation;
  • Coordination of the legal activity for the practice of immigration;
  • Assistance in the organization of the travel of the clients to Panama and at meetings with the local authority of immigration;
  • Monitoring of the procedure for obtaining a residence permit until their completion;
  • Assistance in the search for a residential property and in the handling of the documentation related to the rental or purchase of the same;
  • Assistance in the purchase of a car and in the related documentation;

RESIDENCE IN PANAMA FOR EUROPEANS

The most of European Countries have entered into specific Immigration agreements that would grant in favor of the applicant a permanent residence and would entitle him/her to request the Panamanian passport after 5 years.

There are different requirements to comply with for a European citizen to obtain the Panamanian residency. The assistance of a local Lawyer is essential for the immigration procedure to be finalized.

The following are the documents to be presented, all to be legalized with apostille either with a notary or at the nearest Consulate of Panama in the Country of residence of the applicant:

  • General certificate of criminal records
  • Full copy (all pages) of passport
  • Copy of ID card

The applicant is to bring with him/her the passport and ID card in original along with 6 photos, carnet size.

The opening of a personal bank account with a local bank is now compulsory for presenting the immigration procedure as a letter of reference to Servicio Nacional de Migración, issued from this bank, is part of the documents to be provided.

For opening a personal bank account, the following documentation is to be provided, no legalizations required:

  • Passport
  • ID card
  • Professional references issued either by a lawyer or a chartered accountant.
  • Letter of reference from the foreign bank of the applicant
  • Copy of any documentation supporting the personal income and a business plan of the activity to be developed in Panama.

 

Finally, a local doctor will visit the applicant and will issue a medical certificate of good health.

The foreigner is usually expected to either rent or purchase a real estate where to elect his/her residence. Also utility bills such as electricity, water, telephone in name of the applicant are to be provided.

In addition the applicant for the permanent residence is requested to prove his/her activity in Panama that could involve either the development of a business or an investment in real estates. The best way to prove the intention to operate in Panama is to be both President and Shareholder of a Panamanian company that could carry out an activity and/or purchase properties.

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