PANAMA CITY, PA / ACCESSWIRE / January 7, 2025 / In recent years, Panama has become a popular destination for those who decide to move to another country. Actually, in 2024, Panama was named the best place to retire in the entire world, not just the Americas, but the whole world! Whether it's its safe streets, its world-class health clinics, its luxury real estate at low prices, or the lower cost of living compared to the United States, the expat community is turning its attention to Panama.
In this sense, many are seeking options to move them and their families to the country. But what visas are the most popular for foreigners? And how can they be obtained through real estate investment?
The most popular visas
Friendly Nations visa: Residents of 53 countries can opt for the Friendly Nations Visa. This temporary resident visa later allows individuals to obtain a work permit and eventually transition to permanent residency through a work contract, investment in the country (such as real estate), and/or a certificate of deposit.
Retiree/pensioner visa: Since it's a retiree visa, those who choose this visa cannot work in the country, but they can invest and profit from it. One of the main requirements of this visa is that retirees must have proof of a monthly pension of at least $1,000 or invest at least $100,000 with a monthly pension income of at least $750.
Qualified Investor: Those who invest at least $500,000 in commercial or real estate property can obtain this visa, which allows them to obtain a work permit.
"Everyone calls it a 'red carpet visa' because you can obtain residency within 30 days," says Gloristell Espino, a Panamanian attorney specializing in properties.
The qualified investor visa is one of the most popular options, as many expats-especially from Canada and the United States-trust Punta Pacifica Realty to help them find their dream home and obtain this visa simultaneously.
Panama also presents an attractive option for homeowners who are seeking insurance for their investment or their health. Homeowner insurance policies in Panama typically cover a wide range of risks, including fire, theft, and natural disasters.
And despite offering comprehensive coverage, homeowner insurance rates in Panama are often among the lowest in the Americas due to the low probability of earthquakes and hurricanes.
Many health insurance plans in Panama offer coverage for prescription medications at local pharmacies, providing added convenience and cost-effectiveness.
Which countries qualify for the Friendly Nations program?
Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico Monaco, Montenegro, Netherlands, New Zealand, Norway, Paraguay, Poland, Portugal, Peru, San Marino, Serbia, Slovakia, Singapore, Spain, Sweden, Switzerland, South Africa, South Korea, Uruguay, and the USA.
Do you want to know more about Panama's visas and real estate investment? Contact us at Punta Pacifica Realty. We will gladly assist you in your journey to Panama.
Contact Information
Sandy Chan
Project Manager - Punta Pacifica Realty
sandy@puntapacificarealty.com
+ (507) 6793-8160
SOURCE: Punta Pacifica Realty
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