{"id":"panama-friendly-nations","name":"Panama Friendly Nations Residence","type":"RBI","status":"operational","country":"Panama","country_code":"PA","url":"https://www.mirabelloconsultancy.com/best-golden-visa-investment-programs","min_investment":{"amount":200000,"currency":"USD","route":"B/. 200,000 (at par with USD) in Panamanian real estate, local bank financing allowed, or a B/. 200,000 fixed-term deposit with a 3-year term, or an employment relationship with a Panamanian company. Nationals of the 51 listed countries only"},"qualification_basis":"investment","investment_routes":[{"name":"Friendly Nations Visa (secondary route)","type":"friendly_nations","min":200000,"currency":"USD","amount_usd":200000,"eligible_nationalities":["GB","DE","AR","AU","KR","AT","BR","BE","CA","ES","US","SK","FR","FI","NL","IE","JP","NO","CZ","CH","SG","UY","CL","SE","PL","HU","GR","PT","HR","EE","LT","LV","CY","MT","RS","ME","IL","DK","ZA","NZ","HK","LU","LI","MC","AD","SM","CR","PY","MX","PE","EC"],"summary":"For nationals of the 51 countries listed in article 2 of Executive Decree 416 of 13 June 2012, as modified by Executive Decrees 197 of 7 May 2021, 226 of 20 July 2021 and 16 of 31 August 2026 (which added Ecuador from 1 September 2026). Requires one of: an employment relationship with a Panamanian company, real estate of at least B/. 200,000 (local bank financing permitted), or a B/. 200,000 fixed-term deposit held free of encumbrance for 3 years. Grants a 2-year PROVISIONAL residence permit first, then permanent residency.","legal_basis":["Executive Decree 416 of 13 June 2012, article 2 (country list) and article 3 (provisional permit)","Executive Decree 197 of 7 May 2021","Executive Decree 226 of 20 July 2021, Gaceta Oficial 29335 of 21 July 2021","Executive Decree 16 of 31 August 2026, Gaceta Oficial 30601-B of 31 August 2026 (adds Ecuador; in force the day after promulgation)"],"fees":"B/. 250 certified cheque to the National Treasury and B/. 800 to the Servicio Nacional de Migración for the provisional permit (SNM requirement sheet PPT-PE). The permanent stage (PPP-PE) repeats the requirements except the criminal-record certificate and the cheque.","dependants":"Dependants file a letter of responsibility from the resident, proof of relationship (marriage certificate, birth certificates, or judicial proof of guardianship) and, for dependants aged 18 to under 25, proof of full-time study and a sworn declaration of single status. The resident proves economic solvency with an income-tax return showing at least B/. 1,000 a month plus B/. 100 for each dependant, or a current employment letter with payslip or social-security record and a copy of the work permit (SNM requirement sheet PPT-PE).","permanent_stage":"After the two-year provisional permit, the permanent permit (PPP-PE) is requested with the same requirements except the criminal-record certificate and the cheque (SNM requirement sheet PPP-PE).","work_permit_note":"Friendly Nations permanent residence does not exempt the holder from obtaining a work permit from the Ministry of Labour (MITRADEL) under the authorised categories, nor grant the right to practise professions regulated by special laws (recital of Executive Decree 16 of 2026).","holding_period_note":"No single holding period applies to the route. The fixed-term deposit option must have a 3-year term ('libre de gravamen con vigencia de 3 años', SNM sheet PPT-PE item (c)); the sheet states no holding period for the real-estate option. The 2 years are the provisional permit period, not a holding period.","minimum_stay":"No minimum stay is set. Once permanent, residence may be cancelled after an absence of more than two years unless the absence is justified and authorised by the SNM Director (Decreto Ley 3 of 2008 art. 31(3), 2008 text; amendments not checked). No presence rule for the 2-year provisional phase was found.","not_eligible_note":"Italy is NOT on the list; Italian nationals use the Italy-Panama treaty route instead. Nor are Italy, Taiwan, Iceland, Slovenia, Bulgaria, Romania, Colombia, Venezuela or India on it (checked against the decree text 2026-09-26).","processing_time_note":"No official processing time is published (UNVERIFIED).","deposit_term_years":3}],"family_pricing":null,"processing_time":null,"processing_time_note":"No official processing time is published (UNVERIFIED).","visa_free_count":null,"passport_index_rank":null,"key_destinations":null,"travel_access":null,"minimum_stay":"No minimum stay is set. Once permanent, residence may be cancelled after an absence of more than two years unless the absence is justified and authorised by the SNM Director (Decreto Ley 3 of 2008 art. 31(3), 2008 text; amendments not checked). No presence rule for the 2-year provisional phase was found.","tax_note":"income tax: Progressive rates on Panama-source income only: 0% up to USD 11,000; 15% on USD 11,000-50,000; 25% above USD 50,000.; CGT: Capital gains on Panama-source assets are taxable; real-estate sale gains generally attract a 10% capital-gains tax (often collected as a 3% advance on the sale price). Foreign-source capital gains are not taxed under territoriality.; inheritance tax: No inheritance or estate tax in Panama.","path_to_citizenship":"Naturalisation is governed by article 10 of the Constitution, which sets three routes: five consecutive years of residence, with an express declaration renouncing the nationality of origin and proof of Spanish and of basic knowledge of Panama's geography, history and political organisation; three consecutive years for a foreigner with a Panamanian spouse, or with children born in Panama to a Panamanian parent; and, on a reciprocity basis, nationals by birth of Spain or of a Latin American state. There is no citizenship by investment. Italian nationals are not on the reciprocity list, so they naturalise after five years, or three through a Panamanian spouse or children; no treaty shortens the period. Italian law lets a citizen who acquires another nationality keep Italian citizenship, which is lost only by the citizen's own renunciation (Law 91/1992, art. 11). How Panama's renunciation declaration applies in a particular case should be confirmed with counsel.","highlights":["Nationals of the 51 listed countries only (Executive Decree 416 of 2012 art. 2, as amended by Decree 16 of 2026); Italy is not listed","Two-year provisional permit, then permanent residence; a Ministry of Labour work permit is still needed to work"],"atomic_answer":"Panama's Friendly Nations permit is open only to nationals of the 51 countries listed in Executive Decree 416 of 2012 as amended, most recently by Decree 16 of 31 August 2026, which added Ecuador. The applicant shows an economic tie: real estate of at least B/. 200,000 (local bank financing allowed), a B/. 200,000 fixed-term deposit with a 3-year term, or an employment relationship with a Panamanian company. It grants a two-year provisional residence permit, then permanent residence, with cheques of B/. 250 to the National Treasury and B/. 800 to the Servicio Nacional de Migración. The status does not exempt the holder from a Ministry of Labour work permit.","fees":null,"last_updated":"2026-10-09","data_freshness":null,"mirabello_index":null,"regulatory_status":{"fatf_list":null,"eu_tax_list":"annex_i","us_sanctions":null,"oecd_crs_high_risk_scheme":true,"as_of":"2026-06","note":"Factual status as published by the FATF and the EU Council. Inclusion reflects AML/CFT or tax-governance work programmes, changes regularly (several reputable jurisdictions have been listed and delisted), and its practical impact varies by use-case. Always linked to the official source.","sources":["https://www.oecd.org/en/topics/sub-issues/international-standards-on-tax-transparency/residence-citizenship-by-investment.html","https://www.consilium.europa.eu/en/policies/eu-list-of-non-cooperative-jurisdictions/"],"oecd_crs_note":"Names JURISDICTIONS whose investment-migration schemes meet OECD risk criteria for circumventing Common Reporting Standard tax reporting (low/no personal income tax on offshore assets + <90 days physical presence). It is a tax-transparency monitoring list, NOT a statement on programme legitimacy; in practice financial institutions apply additional residence/tax checks to documents from these schemes."},"processing_stages":null,"required_documents":null,"biometric_enrolment":null,"dependant_additions":null,"nationality_naturalisation":{"years_of_permanent_residence":{"1":["SV"],"2":["AR","CO","EC","ES","HN","MX","NI","PE"],"3":["UY"]},"default_years_for_unlisted":5,"basis":"Constitution of Panama art. 10(3): nationals by birth of Spain or of a Latin American state may naturalise on the same terms their country applies to Panamanians. SNM publishes the resulting reciprocity list, expressed as years of permanent residence in Panama.","note":"Every nationality not on this list, Italy included, naturalises on the ordinary five consecutive years (art. 10(1)), or three through a Panamanian spouse or children (art. 10(2)). The shortened route requires nationality by birth, not by naturalisation. Colombia: an older SNM sheet lists it at one year (Ley 43 of 1993); the current version cites Ley 2332 of 2023 at two years, and the newer, more conservative figure is used."},"record_kind":"nationality_route","region":null,"provider":"Mirabello Consultancy","source":"Mirabello Consultancy","verified_by":"Mirabello Consultancy (IMC member, ACAMS certified)","book_a_consultation":"https://www.mirabelloconsultancy.com/contact-us-for-your-free-consultation","terms":"https://www.mirabelloconsultancy.com/ai","disclaimer":"Provided by Mirabello Consultancy Ltd. for general information only, indicative and subject to change without notice; not legal, financial, tax, or immigration advice, nor an offer or solicitation. Programmes are operated and governed solely by the respective sovereign governments. No warranty of accuracy or completeness; Mirabello accepts no liability for reliance on this information. © Mirabello Consultancy Ltd. This data and its selection, structure and provenance are Mirabello's proprietary compilation — permitted for interactive, attributed use only; systematic bulk extraction, scraping, or redistribution to rebuild a competing dataset is prohibited (acceptable-use terms: https://mcp.mirabelloconsultancy.com/v1/terms). Terms: https://www.mirabelloconsultancy.com/ai","data_updated":"2026-10-10T05:30:03.352Z"}