Residency in Panama without investing a dime: move to a new country with options that don’t require investment

Panama opportunities are available both for locals and expats and they encompass a wide variety of aspects. From free zones to easy residency, Panama is one of the pillars when it comes to nomad capitalist and libertarian services. 

One of the characteristics that make Panama unique is its ample assortment of residency options and today we'll explore non-investment residency programs in the country of the canal.

Move to a new country: Panama non-investment visas

Everyone knows that moving to a new city or country presents challenges and they include the legal aspects of residency. In this sense, Panama presents interesting options right between traditional paths and investment programs. The latter usually requires investments no lower than 300,000 while traditional citizenship paths are mined with bureaucracy.

This is why the Mundo team thought that exploring non-investment residency in Panama might be a good idea for those wanting to walk through that gap in the middle. After dedicating several articles to the Qualified Investor Visa and its soon-to-be-implemented changes, we think it's time to cover residency without investment for a change.

Panama opportunities: What programs provide non-investment residency

Mundo has chosen two of the most innovative programs in the world to be featured in this article. If you're thinking “I want to move to another country legally without investing” any of these may be the right choice for you. Moreover, there's an interesting detail that will be pointed out at the end of this article.

Panama non-investment visa: the Friendly Nations

The history of the Friendly Nations Visa is quite interesting. It started as an initiative to bring citizens of countries that were considered to be valuable. Thus, a list of 50 countries was created and these are the so-called friendly nations.

Being a citizen of one of these is the first eligibility requirement. The following step is proving that the applicant has economic ties with the Republic of Panama. These may be:

• Being hired by a local company
• Setting up your own company and hiring yourself

Among the documents and requirements, the applicant will need a clean police record, a medical certificate stating excellent health, and depositing $5000 in a local bank account to prove solvency. This visa allows you to obtain a work permit.

More information

Easy residency: Panama Friendly Nations visa terms

Upon approval, the applicant is granted a two-year permit that can be renewed to a permanent status after the said period. 

Panama non-investment visa: Pensionado program

The Pensionado visa has its counterparts in other countries like Belize, but in Panama, it reaches a whole new level when it comes to residency without investment. 

In this case, applicants must prove having a lifetime pension of at least $1000 a month. It can come from private or state sources as long as it is for life. Approved applicants will obtain permanent residency without the right to work in the country or obtain a work permit as the target is retirees. 

An interesting perk is that retirees have a variety of discounts at their disposal. This includes areas like healthcare, entertainment, and medicine. Thus, regarding easy residency, Panama proposes an excellent option for single people and couples. However, when it comes to adding other dependents, this program is limited while the Friendly Nations allows you to add your spouse and children.

Easy residency: Panama with no investment – drawbacks

It's fair to point out the drawbacks of Panama non-investment residency options. While the Qualified Investor Visa and Forestry Visa are open for people of all countries, the Friendly Nations is limited to those 50 mentioned above. This is a huge limitation for those wanting to access residency without investment. 

Panama opportunities include everyone but not everyone is included in each program. In line with this, we can see that the Pensionado visa has two major limitations: it doesn't grant a work permit and it specifically requires a lifetime pension (which must be proven).

On the other hand, they give you an outstanding option: move to a new country without investing a dime apart from fees and expenses.

Exploring residency: Panama with no investment paves the way for investment

The heading above may sound strange or incorrect but it's not. Previously in this article, we mentioned an interesting detail and this is it: both of the programs have investment options as well. If anything, this is proof of the country’s ample versatility and Panama opportunities in general. Let us explain further.

As it was stated above, the Friendly Nations require applicants to prove having economic ties with the Republic of Panama. Besides the two examples above there's a third option: investing in real estate. The difference with typical investment alternatives is that the threshold is lower and the residency term is shorter (two years for Friendly Nations against immediate permanent residency for Qualified Investor). After all, there has to be an extra perk for throwing those additional $100,000 into the mix.

Interestingly, the Pensionado visa also includes a real estate investment option giving the applicant the opportunity to access through a lower monthly minimum. If the applicant purchases a property, the minimum income can be $750 instead of $1000.

Disclaimer: this article presents a general overview of Panama non-investment residency options; however, it does not replace a legal consultation. Keep in mind that, due to constant changes in regulations and the intricacies of each program, this information may not be updated or may not apply to some cases. Before making any important financial or migration decisions, consult with a Mundo expert or any other certified professional that you trust. 

Move to a new country: choose Panama with Mundo

To sum up, Panama opportunities are available also for those who don’t want to invest. Naturally, there are traditional alternatives like residency via marriage, studies, or by giving birth. 

Book a consultation with one of our experts and get in touch with our team of lawyers and advisors who can help you fulfill your goals in the country of the canal.

Don’t forget to ask about all our nomad capitalist services including banking, corporate, trusts, and investments. Any of these can fit perfectly into your business plan and help you achieve financial freedom. 

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