How can I obtain the friendly nations visa in Panama without investing $200,000.00?
Since the publication of Decree 197 of May 2021, Panama has decided to limit the alternatives for obtaining the friendly nations visa. After August, people who were not retirees or investors could only obtain a visa in Panama through a fixed bank deposit of $200,000, the purchase of a property or an employment contract with a Panamanian company. Many interested parties always ask us about the possibility of obtaining the visa without investing this high sum of money and in this article we would like to inform you that this is possible.
How to do it?
Many tourists have been discouraged to learn that they will no longer be able to obtain a residency so easily in Panama. But this, in reality, is still simple. By obtaining a work contract, any tourist interested in living in this beautiful tropical country will be able to apply for a visa in just a couple of days. At Agroup consulting we offer the option for you to obtain your residency card through a work contract with a Panamanian company associated with us.
This option only requires that you have a valid passport and the necessary documents for the visa application. This alternative provided by the national immigration service in Panama will save a lot of money to those interested in residing in Panama and who don´t have the sum of $200,000 to apply through an investment or real estate.
Our partner companies will give you the opportunity to get an employment contract with them, as well as a work permit. Once you have secured the contract, you will be ready to submit your visa application. In the first instance you will receive a temporary residency card for two years and after these two years you will finally obtain a permanent residency that will give you the right to obtain a Panamanian ID which is known as “Cedula E”.
The estimated cost of the process which includes the relocation service, company search, bank account opening and immigration process until you have the card in your hands is reduced from $200k to only $14k for legal fees. Interesting, isn’t it?
If you wish to know more about the process or wish to obtain your residency in Panama, please do not hesitate to contact us.