Hello

Thank you for reaching out to me for more information about the Permanent Residence program offered by the Panamanian Government.

First of all, let me introduce myself properly. My name is Ana Patricia, and I am the SpokesPerson for Punta Pacifica Realty, the largest Real Estate company in Panama.

It is a pleasure for me to provide you with the answers to the main questions related to the Red Carpet Visa.

What opportunities does this Visa offer?

This visa offers you the possibility of obtaining Panamanian Permanent Residence (Indefinite) and the E-card (local ID).

After five (5) years of obtaining permanent residence, you will have the option to apply for Panamanian citizenship.

Is it necessary to be in Panama for the application?

It is not necessary to physically come to Panama for the application until Permanent Residence has been approved and is ready for
collection. The application can be made through a lawyer.

How long does the approval process for this residence take?

The approval process for this residence will take a maximum of thirty (30) business days after the application has been submitted.

What type of property do you need to buy to apply for this residence?

The property can be a ready-to-occupy property or a property under construction, as long as the investment is a minimum of three hundred thousand US dollars (US$300,000.00).

The Government allows applications for Pre-Construction Properties while they are still under construction. The applicant must send the funds to a Trust Institution and show the Trust Agreement as part of the documentation.

Until when will this investment amount be valid?

Based on the law governing this visa, the investment of three hundred thousand dollars is valid until October 2024. After this date, the minimum investment to apply for this visa will increase to five hundred thousand US dollars (US$500,000.00).

IMPORTANT
The applicant must maintain the real estate investment for at least five (5) years after the initial application, which will be verified by the Government annually.

The property can be acquired in the applicant’s name or under a company name. The Panamanian Government requires that you be in Panama at least once every two (2) years to maintain Panamanian Residence.

Does financing apply to this program?

The applicant can use financing to purchase the property for any amount above the minimum required for the investment, meaning the amount above 300,000 US dollars can be financed.

Can dependents be included in this residence?

Yes, they can. You only need to submit the following information:

a. For Spouses: The Marriage Certificate cannot be more than six (6) months old.

b. For Children: Birth Certificate. For Children between 18 and 25 years old, they must also prove that they are enrolled full-time in a University in the Republic of Panama.

c. For Parents: Birth Certificate of the applicants.

For these documents to be valid, they must be authenticated by the Consulate of Panama in the country of issuance at the time of
application.

How should the proof of investment be presented?

The following documents need to be provided:

a. The property certificate from the Public Registry. If the property is under construction, the Trust will issue a certification that the funds are under their custody and a copy of the Trust Agreement.

b. A registered copy of the purchase contract.