Residency and Citizenship

Multiple exit visa in Panama: a key step on your path to permanent residency

6/7/2023 8:00:00 AM
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Panama is a stunning place to live, particularly for those that are looking for new opportunities and stable environments. There are plenty of Panama visas that fit different cases and contribute to the country's popularity. If you're looking for a nation that has been able to combine financial incentives with different types of visa, Panama is the right choice. 

Getting a Panama visa is ideal for Latin Americans and Europeans

People who decide to settle abroad make this decision for various reasons. Throughout history, war, persecution, economic issues, and lack of opportunity have been the main factors that drove people to leave their countries.

Especially in the past few decades, we've seen more positive reasons for immigration. This includes those that want to follow their sense of adventure, access a higher education level, or simply travel the world. Digital transformation has created the perfect field for people to work online and independently from a particular place. Take digital nomads, crypto investors, or content developers as examples.

However, although each case is different, we can analyze certain tendencies.

Panama for Latin Americans

Since it has managed to keep a stable economy and political environment for several decades, many choose Panama as a place to live and do business. Especially those that come from Latin American countries that suffer from inflation, political turmoil, high volatility, and elevated crime rates.

Panama for Europeans

For Europeans, there’s a different story. Many of them also choose Panama but for separate reasons. Here they find a freer environment, more business incentives, and friendlier taxation.

Types of visa: Panama definitely has something for you

For investors

Getting a Panama visa is possible through investment. There are several Panama visas that allow this, naturally, with different thresholds and conditions. Right now, and for the next two years, the minimum real estate investment is 300,000 USD (under Qualified Investor). On the other hand, you can access a lower threshold through the reforestation visa, but this option grants you a temporary permit (two years), and the investment will bring you benefits in the long term. For a detailed comparison between these two Panama visas, check out this article.

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For retirees

If you have a lifetime pension of at least $1,000 a month you can access what Panama calls the “pensionado visa.” Through this Panama visa process, you can get permanent residency and access interesting discounts that are exclusive to retirees. However, this option does not allow you to have a work permit. It's also possible to combine it with a real estate investment.

For professionals and entrepreneurs

When it comes to types of visa, Panama has plenty of opportunities. Through the professional program, for example, you can access residency. Keep in mind that you need to have a profession that's considered to be valuable in the country and that doesn't fall into the category of job positions that can only be covered by Panama residents or citizens. 

Here we can also name the Friendly Nations Program. Getting a Panama visa through this option is only possible if you're from any of the countries that Panama considers to be “friendly”. In this case, you can access residency through investment, through a working contract, or by creating your own company and employing yourself (with everything the law stipulates in that case).

Multiple exit visa in Panama: what is it?

The Panama multiple visa, short for “multiple exit and entry visa”, allows applicants to exit and enter the country as many times as they want during the Panama visa process. To understand the importance of this visa it's key to understand that the immigration law stipulated that when a person has an ongoing visa process, they couldn’t leave the country. If they did, they had to pay a $2000 fine. 

Why should I get the Panama multiple visa?

A few years ago, when getting a Panama visa, the multiple exit visa in Panama was not mandatory, especially if you were not planning a trip abroad during the immigration process. However, if you had an emergency or an expected trip came up, the multiple exit and entry visa would save you from paying the fine. Keep in mind that the immigration process can last from three to six months, and sometimes a year. Nonetheless, now the story has changed and the multiple exit visa in Panama became mandatory. The government fee is 50 USD. Thus, any individual applying for a temporary, provisional, or permanent permit will receive a document stating that he/she has an ongoing immigration process. Such a document includes permission to leave the country and come back without restrictions. 

Disclaimer: this article is only meant to provide general information. Book a professional consultation for accurate details on the requirements and conditions to get the multiple exit visa and other Panama visas available.

Panama visas have their secrets

Getting a Panama visa is quite simple when compared to other jurisdictions, but it has its tricks and secrets. A good lawyer will help you get the Panama multiple visa on your path to residency. 

From this we can learn another important lesson: always consult with the best lawyers when getting a Panama visa, or a residence permit in any part of the world. If you have doubts, our team of experts is ready to help you as we have contacts with lawyers and certified professionals offering banking, residency, and corporate services in the country of the canal.

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