The document promotes immigrating to Panama, highlighting the country's growing economy, tax benefits, and various visa options for residency including through investment, pensions, or the Friendly Nations Visa program. It provides details on requirements and costs for the different visa pathways and notes Panama's welcoming immigration policies and business opportunities. The legal services company presenting the information offers assistance with all aspects of relocating to and establishing residency in Panama.

1. IMMIGRATE TO PANAMÁ
NOW! YOUR SAFE HAVEN -
YOUR PLAN B
Yes, you can afford it!
.
legal.work.pa

2. INTRODUCTIO
N
Live, work and play in a
tropical paradise. Panamá
welcomes South Africans
with an easy and friendly
immigration process.
TABLE OF
CONTENTS
Why Panama?
Popular Visa Options
Friendly Nations Visa
Opportunities

3. WHY PANAMA?
1. Fastest growing economy in Latin America.
2. A safe and friendly country in Central
America and the Caribbean.
3. US dollar-based economy.
4. Abundance of nature and wildlife. Multiple
beaches, islands, mountains, rainforest and
farmland. World class sport-fishing, golfing
and bird watching destination with a great
opportunity for entrepreneurship.
5. Territorial tax system.
6. Population diversity.

4. FRIENDLY NATIONS VISA
Panama's Friendly Nations Visa gives the amazing opportunity to immigrants from 50
nationalities (including South Africa) to easily obtain residency and work permits.
Friendly Nation Visa Expenses-Legal Fees Per Applicant
Government fees (x2 if application includes spouse) $1,050
Immigration fees $100
Medical clearance $50
Notary $125
Documents Translations (Criminal Background check, marriage certificate,
birth certificate of children-if applicable)
$150
(Approximate)
Legal fees (includes assistance for opening bank account) $3,500
Legal fees for additional dependent (Spouse) $1,750
Legal fees for children under 25 $500
YOU CAN ALSO APPLY!

5. Through the Executive Decree No.226 of July 20th, 2021, improvements have been made to the Friendly Nations Visa. The changes
includes the removal of the previously required company registration and the opening of a bank account, funded with at least Five
Thousand Dollars (US$5,000.00). The new requirements of the Friendly Nations Visa are as follows:
EXECUTIVE DECREE NO.226 OF JULY 20TH, 2021
Upon the initial filing, a temporary Residence
Visa is issued for two (2) years and with the
second application approval, permanent
residency is granted.
Friendly Nations Residency Options
a) Employment Offer from a Panamanian company with a local operating license.
b) Real Estate purchase of at least $200K held under your personal name or Panamanian
corporation / foundation of which applicant is the sole beneficial owner.
c) Long term fixed deposit for at least 3 years- $200K minimum in a Panamanian bank.

6. STEPS TOWARDS PERMANENT RESIDENCY
Decide on a Residency Option that best suits your needs
Obtain all the necessary documents including a police clearance which needs to be
Apostilled (DIRCO) or Certified (by Panamanian consulate in Pretoria)
Schedule visit to Panama within 3 months
Gather documents and submit application for residency
3 to 6 months for application approval. (May exit Panama)
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7. REGISTRATION OF
CORPORATION
If you wish to conduct business in
Panama or offshore you may register
a foreign entity or create a local one
such as an LLC or a corporation.
Setting up a corporation in Panama is
a quick and uncomplicated process. It
merely requires choosing an available
name, main area of business and
officers & directors, who may or may
not be Panamanian citizens or
residents.

8. PENSIONADO VISA
Panama offers its pensionado / retiree residency
to those who benefit from a “lifetime” monthly
pension issued by a qualifying government or a
private financial institution of at least $USD
1,000 ($1,250 minimum for joint application with
spouse) or its equivalent. A married couple with
a combined pension for said amount can also
qualify.

9. REQUIREMENTS FOR PENSIONADO VISA (Private
Pension)
A letter from a foreign
pension administrator,
such as a trust
company, a mutual fund
company, an insurance
company, or a bank,
certifying that the funds
are sufficient to provide
the applicant with a
lifelong pension.
Certification of the
private entity that
provided the
pension and
administers the
funds' existence
and validity.
A copy of the bank's
proof of payment or
statement of account.
A B C

10. PROCESS
TIMELINE
2 months 3 days 1 week 6 months 1 day 2 months
First obtain and Apostille (DIRCO) or certify
(Panamanian Consulate) relevant
documents for our review. Upon arrival of
applicant in Panama, remaining documents
are gathered.
Preparing documents
Once the document file is complete, it’s delivered to
the Immigration Office. When all requirements are
met, a temporary ID is issued, the temporary
residency is granted within 3-6 months pending
approval.
Delivery of application
Prior to application it is
necessary to register in
Immigration’s data base.
Registration
The Director of Immigration
approves the initial phase by
issuing a resolution valid for two
years.
Temporary approval
Reapplication is filed upon the two-year
expiration. The document file will not
require another inclusion of a criminal
background check.
Permanent Residency
Application
Final resolution granting
permanent residency is issued
within 3 to 6 months of
reapplication.
End of Process

11. INVESTMENT VISA
Economic Solvency Visa
Reforestation Visa
Business Investor Program
Golden / Red-Carpet Visa
Agriculture Investment
In Panama there are many types of Investments that provide the option to obtain residency, such as:

12. ECONOMIC SOLVENCY VISA
• If you invest US$300,000 in a fixed-term deposit in
a Panamanian local bank or buy real estate, or a
combination of both, you can get a temporary
residency status under the Self Economic Solvency
plan.
• The investment amount will need to be increased
by US$2,000 for each dependent.
• The fixed term deposit must be held in your
personal name at a local bank for a minimum of
three years.
• There must be no encumbrances on the time
deposit.
• The visa is valid for two years.
• You can apply for a permanent residency permit
after this time period if you keep the investment.
The permanent residency permit allows you to stay
in Panama indefinitely.

13. REFORESTATION VISA
• The Panama Reforestation Visa grants
permanent residency to foreigners who
invest a minimum of USD $100K or USD
$350K in a reforestation project
approved and managed by a forestry
company regulated by the Ministry of
Environment of the Republic of Panama.
• This investment must be maintained for
at least 5 years after obtaining
permanent residency.

14. BUSINESS INVESTOR PROGRAM
A minimum investment of $160,000 in a
valid new firm or a new setup corporation
is required for the Panama Business
Investor Visa. Additional requirements
include obtaining a commercial business
license, registering with social security,
and recruiting 5 Panamanian employees
who pay their social security benefits and
at least the minimum wage.
Before becoming permanent residents,
every Panama Business Investor Visa
requires three 2-year temporary residence
visas. Panama's Business Investor
Program

15. GOLDEN / RED CARPET VISA
Panama has introduced a new visa that includes permanent
residency in the country. This visa is designed for investors who
want a straightforward and quick immigration process without
having to travel to Panama. Furthermore, the options for
qualifying for the visa serve as steppingstones for any investor
wishing to settle in Panama, whether alone or with family or
dependents.

16. AGRICULTURE INVESTMENT
The Panama Agricultural Investor
program is for anyone who want to
become temporary residents of
Panama by making inward
investments in Panamanian
agriculture. Farms, agriculture, and
aquaculture enterprises are
included in this visa category. The
scheme needs a minimum
investment of US$60,000 and
provides temporary residency for a
period of six years, which can be
extended every two years. Other
passport and residency options
are available in Panama.

17. MULTINATION CORPORATIONS IN PANAMA
Doing business in and out of
Panama is simple: the country has one of
the most established commercial
infrastructures in the world, giving it a
suitable basis for regional company
coordination and central management
functions, as well as sales, marketing, and
customer support.
Panama has been designated as a
profit center and a true base to manage
international or regional operations by
various Fortune 500 businesses engaged in
a variety of commercial activities. There are
tons of multinational corporation here in
Panama such as: Dell Panama Inc, Nestle,
Sanofi Aventis.

18. ECONOMY IN
PANAMA
• Panama is one of the fastest growing economy in the world.
• Its leading industries include construction, mining, petroleum
refining, brewing, among others.
• The country is a major exporter of produce to other nations in
North America, Europe and Asia.
• Real estate is a growing industry in Panama which provides a
stable rule of law.
According to Trading Economics global macro models and analysts, Panama's
GDP is predicted to reach 67.00 USD billion by the end of 2021. According to our
econometric models, Panama's GDP will trend at 68.50 USD billion in 2022.

19. ABOUT US

20. We understand moving to a
foreign country can involve many
steps. Our team is composed of
expats from South Africa and
Europe, and we are dedicated to
helping you have the best
experience.
Legal @Work, is a fully bilingual
prepared team that offers
guidance through a wide variety of
legal issues; guaranteeing reliable
advice that satisfies our clients
because we ensure to make them
our main priority.
• Panamanian Residency
• Bank Accounts
• Immigration​
• Corporations
• Foundations​​
• Contract Law​
• Family Law
• Trademarks
• Criminal Defense
• Real Estate Transaction
Our team of attorneys have extensive practice
experience and can handle your legal needs in
the multiple fields of law:
SOUTH AFRICAN

21. OUR MISSION
We are here to provide the best service customized to
your needs with the upmost attention.

22. CONTACT US
• Email: Legal@work.pa
• Phone: +507 6153-9709
• Address: PH TOC, LS-30, Punta Paitilla
• Website: legal.work.pa
• Instagram:
• @legalworksouthafrica
• @legalworkpanama