Panama

Panama Relocation Services

Joyful Feet is happy to announce our new full service Panama relocation services. Examples include services such as dealing with customs for importing your goods, Panama tours, Panama interpretation services, airport arrival, real estate tours and real estate lawyer services, hotel and car rental, apartment rental, bank account assistance, business formation, Panama permanent residency programs, and Panama retirement programs.

Panama Citizen Access to USA E-2 Investor Visa

5 Year Visa/ Unlimited Renewals (Next best thing to a Green Card!)

Strategically Establish In a Panama Special Economic Zone

The Panama Friendly Nations Program 

For citizens of the following nations: Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Germany, Greece, Holland, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Monaco, Montenegro, New Zealand, Norway, Paraguay, Poland, Portugal, Republic of Korea, Republic of San Marino, Serbia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, United Kingdom, United States of America, and Uruguay. Quickly establish your permanent residency through opening a bank account and making a bank deposit of $5,000 USD as well as opening a basic Panamanian IBC or LLC corporation. This can be closed after the residency process is finished if desired. *All prices below are in USD*

Legal Fees: $1,500 

Government Fees: $1,255 (Includes multi entry visa and ID cards)

Basic Corporation (IBC or LLC): $1,400

Additional Fees: Extra paperwork translation, notary services, add-on corporate services, and bank account services.

Panama Pensionado or Retirement Program (All Citizens)

One of the best and easiest in the world and with NO age requirements and open to all citizens. The applicant must present evidence of a monthly income for life,  of a minimum $1,000 USD/month. Additional dependents require an additional $250 USD/month. The income must come from a lifetime guaranteed government pension. Income can also come from an authorized and regulated lifetime annuity or company pension but additional documentation proof will be required.

Additional benefits include:

1. 50% off movies, concerts, and sports events.

2. 30% off bus, boat, and train fares, 25% off airline tickets.

3. 50% off hotel stays on Monday-Thursday, 30% off Friday-Sunday.

4. 25% off restaurants, 15% off at fast-food.

5. 20% off medical consultations, 15% off hospital bills without insurance, 10% off prescriptions.

6. 15% off dental and eye exams.

7. 50% reduction in closing costs for home loans.

8. 25% discounts on utility bills.

9. 1% less on home mortgages for homes used for personal residence

10. Tax exemptions include a one-time exemption on the importation of household goods up to US$10,000 in total value. 100% duty exemption on the importation of an automobile every 2 years.

Legal Fees: $1,500

Government Fees: $250 (Includes multi entry visa and ID cards)

Additional Fees: Paperwork translation, notary services, and bank account services.

For Citizens Not Included on the Friendly Nations List

Please refer to the Friendly Nations list above to check for your country. For citizens outside of the “Friendly Nations” that are still interested in other residency options in Panama, there are currently three options we work with.

1.  Invest a minimum of $300k USD in Panama real estate. The real estate must be held in the name of the applicant or a foundation (PIF).

2. A fixed (3 year) bank deposit of $300k USD may be Panamanian bank.

3. Investment in a Panama company of $160k USD that also employs 5 Panamanian workers.

For those that are looking for a good alternative residency program yet can not meet the Panama requirements, we suggest to take a look at the very underrated Serbia Residency program.

Panama Special Passport (All Citizens)

The Panama Traveler Passport is part of the benefits of the private income retiree visa. This includes permanent residency and a traveler passport for the applicant as well as dependents.

Requirements: A fixed (5 year) bank deposit must be made that generates $850 USD/month interest. Based on recent 4-5% interest rates that would require and estimated $350,000 USD deposit.  The deposit must be made in the Panama National Bank or the Savings Fund.

Obtaining the Panama Traveler Passport does not mean you have Panama citizenship. The passport can be used for visa free travel to the following countries: Albania, Andorra, Antigua and Barbuda, Argentina, Austria, Bahamas, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Brazil, Bulgaria, Chile, Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, El Salvador, Estonia, Finland, France, Gambia, Georgia, Germany, Greece, Guatemala, Guyana, Honduras, Hungary, Iceland, Indonesia, Ireland, Israel, Italy, Jamaica, South Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mauritius, Mexico, Micronesia, Monaco, Montenegro, Netherlands, Nicaragua, Norway, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russia, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, San Marino, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Trinidad and Tobago, Turkey, Ukraine, United Kingdom, Uruguay and Vatican City. Although this is a Panama Traveler Passport and can be used for travel to other countries, it will list your current citizenship.

Check your passport rank here Passport Index 2020

Check the 2020 Numbeo Cost of Living rank