Friendly Nations Visa UPDATE (2021)

May 24, 2021 | Moving to Panama, Relocating to Panama

The government of Panama just passed a new law (Executive Decree 197 of the 7th of May 2021) that changes the requirements for the Friendly Nations residency program. Beginning on the 5th of August 2021, Panama’s Friendly Nations residency program will grant a 2-year temporary residency permit, and then the applicant may apply for permanent residency.

The economic activity requirement is now limited to two options:

1. Be employed in Panama by a legal Panama Corporation with a formal labor contract, and a work permit.

2. Purchase a real estate property with a minimum value of US$200,000 (bank financing is permitted).
Please note that those who already submitted their applications for residency under the Friendly Nations program and are in process, or those who submit their applications before the 5th of August 2021, will enter under the previous Friendly Nations law requirements.

However, those who have not applied by the 5th of August 2021 will be required to comply with the new requirements.

For more information, please contact our law offices at info@pols.com.pa

Get the official statement from the government here:

https://www.gacetaoficial.gob.pa/pdfTemp/29290_A/84916.pdf

POLS Attorneys Staff Writer

POLS Attorneys Staff Writer

As one of the leading Panama Law Firms, and one of the regions most reliable offshore service providers, POLS Attorneys brings a wide range of professional knowledge to our clients needs. Our staff is made up of professional offshore consultants, Panama attorneys and immigration specialists who are experienced in offshore business, understand international investment and asset protection strategies, and are experts in providing a seamless Panama immigration process.

The Asset Protection Newsletter

Sign up free and receive the latest news on Asset Protection