Panama has several residency programs that can suit the needs of any qualified investor, remote worker, or retiree looking to become a Panama citizen after five years of residence. The process is relatively simple compared to the document collection for residency in other countries.

The standard documents are shown below. Each qualified investor must ensure they cover each point on the checklist:

• A valid passport and secondary I.D. of the applicants;
• Original criminal history record (of the principal applicant, spouse, and dependents over eighteen if applicable) notarized, apostilled, or authenticated by the Consulate of Panama (valid for six months);
• If presenting a record from a country of residence different from nationality, provide proof of residency (notarized, apostilled, or authenticated by the Consulate of Panama);
• Dependent Spouse: Original notarized, apostilled, or certified marriage certificate (valid for three months);
• Dependent Child: Original notarized, apostille birth certificate;
• Certificate of Good Health (can be arranged in Panama);
• Five passport-sized photos of the applicant and dependents;
• Registration form (affiliation) migration office (provided); and
• There will be document and certification checks during the collection process in Panama.

Permanent Residence Visa Program for the Real Estate Investment

Proof of origin of foreign funds to buy property (3 options):

• Letter from foreign/local bank certifying the transfer;
• Foreign bank statement showing transfer and destination; and
• Letter from the recipient of funds or local bank certification of deposit/transfer.

Required property documentation:

• Certification from the Public Registry of Panama and apostilled certificate; and
• For Qualified Investors only: authenticated contract of promise of sale registered in the Public Registry of Panama and original/authenticated Trust Contract.

Fixed-Term Deposit Investment:

Required bank documentation:

• Authenticated copy of Fixed Term Deposit Certificate from issuing bank; and
• Bank certificate of deposit existence.

Retiree Program:

Certificate of lifelong pension: Status certification from a foreign government, international organisation, or private company (pension of at least US$ 1,000/month).

If pension from your government or private company:

• Letter from pension/trust/insurance/banking company;
• Certification of company validity; and
• Proof of payment/bank statement.

Reforestation Program:

Proof of origin of foreign funds to make an investment into an approved reforestation project. Additional documents.

• Certification from Panamanian CPA of invested capital paid by the applicant;
• Authenticated certificate of shares in Reforestation of Panama;
• Copies of business tax return with invested capital;
• Resolution from the National Environmental Authority (ANAM) of Forest Registry Certification; and
• Original certification of business registration and property title.

Opening a Bank Account (Panama Corporate/Personal)

The list of bank requirements varies by account purpose, type, and bank. The process can differ depending on opening a bank account for your Panama corporate organisation for your personal use. However, there are a few standardised documents that you can prepare:

• Proof of identity: passport, I.D. card, or other government-issued identification;
• Proof of residency: local utility bill, rental agreement, or other proof of address;
• Evidence of source of income: recent pay stubs, bank statements, or tax returns;
• Introduction letter from your current bank; and
• Bank reference letter from your current bank.