Is there an application to begin the process to residency??

Member since 16 February 2021

adammreesMember16 February 2021 23:49:37

Hi,

As I understand it, you're supposed to open a bank account and deposit at least $5k in panama, then start your business.

And if you're from the US then the Visa part is already taken care of.

However, is there any other formality/paperwork/application that has to be filled out before hand?

And if not, then do you handle the legal processing of the business just as you would in the states with a lawyer or filing your own LLC?

I'm having trouble finding anything other than conceptual information, even when asking the embassy and such.

Does anyone on here have experience with the process of working toward citizenship and permanent residence in Panama?

kristc99 Serial expat

Member since 09 December 2012

kristc99Serial expat17 February 2021 00:13:08

881

A lawyer can answer those questions. Marcos Kraemer has quite a bit of info on his website 听

A visa is not residency. You can stay in the country on a tourist visa for 180 days (automatically granted to ppl from the US)

You can get residency by meeting the requirements and working with a lawyer.

Your chances are slim to none of becoming a citizen here. But legal residency should give you all you need.

MagnesiumHelps Member

Member since 28 September 2020

MagnesiumHelpsMember17 February 2021 02:52:40

kristc99 wrote:
Your chances are slim to none of becoming a citizen here. But legal residency should give you all you need.

Not the OP, but could you please explain the difference, and why citizenship is difficult? Thanks.

kristc99 Serial expat

Member since 09 December 2012

kristc99Serial expat17 February 2021 03:26:11

881

What do you mean by OP?
There is a process to apply for citizenship, and the final step is it has to be signed by the president. From what I have heard, even if you jump through all the hoops and pass all the tests, only a very few get signed. Look up Bob Adams on YouTube. He talked about this in one of his videos some time back.

adammrees Member

Member since 16 February 2021

adammreesMember20 February 2021 23:19:29

THANKYOU

Writing to that firm right away.

Appreciate you taking the time to help.

adammrees Member

Member since 16 February 2021

adammreesMember20 February 2021 23:26:12

If you don't mind me asking, do you need a lawyer for the residency application?

And if not, who do you contact to get the ball rolling?

kristc99 Serial expat

Member since 09 December 2012

kristc99Serial expat21 February 2021 03:56:01

881

Yes, you need a lawyer to apply for residency

SimCityAT Expert

Member since 08 April 2014

SimCityATExpert21 February 2021 04:07:13

12089

kristc99 wrote:
What do you mean by OP?

OP = Opening Post

adammrees Member

Member since 16 February 2021

adammreesMember22 February 2021 01:29:56

THANKS

罢别补肠丑别谤肠谤眉别 Member

Member since 02 October 2020

罢别补肠丑别谤肠谤眉别Member14 May 2021 13:04:27

#10

A $5000 deposit into a Panamanian account is only for certain Visas. The Pensionado Visa only requires proof of a steady income of , I think, is $1250(?).

As for American citizens, there is no longer a treaty agreement in place. Tourists have 180 days, and must complete the standard visa process. There are several Visas to choose from.

I can send you the information I have saved. Do you feel comfortable sending me your email, and I will send you all I have, all verified by my attorney.

I will try to private message you my email if you鈥檙e interested in the information.

Best of luck!!