Panama Immigration and Visa Laws
Due to the increasing number of foreigners visiting Panama seeking residency, the Panamanian government recently updated its immigration and visa laws. Law 20 of 2008 created new mechanisms through which visitors could obtain temporary or permanent residency.
Under Panamanian immigration laws, there are several different kinds of visas that authorize an alien either to visit or reside in Panama, as long as she/he meets the requirements established under the law.
TYPES OF VISAS:1. TOURIST VISA REQUIREMENTS. Most foreigners enter Panama, first, with a tourist visa or a tourist card, which
allows them to stay in the country for a 180-day period, renewable for two
successive periods of 30 days each. Almost all Latin Americans and USA citizens are allowed to enter Panama with a
tourist card
At present, the tourist cards can be obtained from almost all airlines flying into Panama, while the tourist visas are issued by the Panamanian Consuls.
2. VISAS FOR RESIDING AND WORK. The most common among businessmen are immigrant visa, temporary visa and special temporary visa, as follows:
a. IMMIGRANT VISA. An immigrant visa is recommended for those intending to reside permanently in Panama while they work or do business.
b. TEMPORARY VISITORS VISA. A temporary visitors visa applies to technicians, specialists, students, and other aliens that will have a transitory stay in Panama.
c. SPECIAL TEMPORARY VISITORS VISA. A special temporary visitors visa, known also as the executive visa is suitable for personnel of international companies and banks who have a monthly salary of at least one thousand US dollars (US$1,000) which comes from sources located outside of Panamanian territory or non-Panamanian-sourced income.
3. PANAMA'S PENSIONADO PROGRAM. Panama has put together the most appealing program of special benefits for foreign residents and retirees you will find anywhere in the world today, starting with the pensionado, or pensioner visa, program.
In Panama, qualified pensionados or retirees are entitled to:
- 50 percent off the price charged as general admission to recreational or entertainment activities such as theaters, movies, sports and several public shows.
- 30 percent discount on bus, boat, and train fares.
- 25 percent discount on airline tickets.
- 25 percent discount on the individual food consumption invoice (first and second class restaurants).
- 50 percent off hotel stays from Monday through Thursday and 30 percent from Saturday through Sunday.
- 10 percent off prescription drugs.
- 20 precent discount on medical consultations.
- 15 percent discount on dental and eye exams.
- and much more...
As a pensionado, you will be entitled to a one-time exemption of duties on the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation or local purchase of a car.
Plus, the Panama pensionado law stipulates that anyone entering the country as a qualified pensioner is guaranteed that status for as long as they reside in Panama.
To qualify under the pensionado program you must show proof of receiving a minimum pension of $750 and invest at least $100,000 in property in Panama or you must have a pension of at least $1,000 per month (no real estate requirement).
NOTE:There are many more visa opportunities in Panama. Our knowledgeable staff will help you find the visa program best suited for your needs.