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Panama is one of the most popular ex-pat destinations and one of the best retirement locations. Many consider it a country of opportunities because of its tropical environment, favourable tax structure, dynamic capital, and unique culinary scene. Panama is a global centre for international banking, strategically located between Central and South America. Significant maritime commerce.
Panama was colonized by Spain in the 16th century and became a founding member of the United Nations in 1821. Panama’s unusual terrain contains hundreds of islands, many of which are yet unknown.
The Pearl Islands are the most well-known on the Pacific Coast, while the San Blas archipelago is located in the Caribbean. Panama is regarded as the safest country in Latin America due to its stable government and small population. Because of the Canal and the tax jurisdiction, there is a strong international interest in maintaining a secure investment climate in Panama.
Panama is a tropical paradise with a booming flora and wildlife, serving as a biological gateway between North and South America. One of the most popular activities in Panama is spotting wildlife. Whales, jaguars, butterflies, eagles, and golden frogs are among the animal species found in Panama that are not found anyplace else.
The province of Bocas Del Roco, on the other hand, is home to a network of Caribbean islands where people can enjoy authentic Caribbean flair. The terrain in Bocas del Toro is virtually unspoilt, with tropical rainforest, the Nivida Bat Cave, and 95 per cent of the Caribbean coral species.
Panama is home to seven separate indigenous cultures. The country’s cities, towns, traditional and modern cuisines, and way of life all reflect its African background and Spanish influence. Panama City, the country’s capital, is a cosmopolitan melting pot of modern architecture and classic bungalows.
Beaches on both the Pacific and Caribbean coasts, cloud forests in the highlands, a volcano, mountain vegetation on the highest peaks, lakes, rivers, mangroves, and thousands of islands may all be found in Panama. The country is a unique and mainly undisturbed natural sanctuary with such biodiversity that you can only uncover little by little.
Panama is a member of various international financial institutions, including the United Nations General Assembly, the Organization of American States, and the Latin American Economic System.
Panama has remarkable infrastructure for such a small country. It boasts a strong economy, making it a sought-after business and financial centre. Panama is home to the world’s second-largest free trade zone and 90 banks. With banking, commerce, and tourism as growing industries that draw foreign investors from around the world, this high-income country enjoys its emerging role as a regional commercial and financial services centre.
The word “tropical paradise” comes to mind while thinking of Panama. It has everything you want when you think of the ideal holiday after a lifetime of hard work. It’s no surprise that it’s become a popular retirement and expat destination. Working professionals, ambitious company owners, and immigrants from all over the world have made Panama one of the most popular locations.
Applicants must choose one of the three investment options to be considered for residency:
Through investing, there are numerous options for obtaining permanent residency in Panama. The most affordable approach is to spend $80,000 on a government-approved reforestation project. Additionally, investors must hold five hectares of titled land. Initially, the temporary residency will be given, followed by permanent residency a year later.
Permanent residency in Panama through real estate investment is also highly common. Applicants must spend at least $300,000 on real estate, plus costs. La Vida has a number of real estate projects that are eligible for the program. After October 16, 2022, the minimum amount will increase to $500,000.
A qualifying investment in Panama is required of the applicant. Foreign-sourced investment funds are required. In addition, the investment must be kept for at least five years. This program does not provide direct citizenship through investment in Panama. After five years of permanent presence in Panama, the investor and their family can petition for citizenship.
Completed application forms must be sent with the relevant fees and accompanying papers, including details on the investment funds and their source (abroad), as well as the investor’s basic information. As a result, the process will take at least five years.
The application can be filed after the initial due diligence checks have been completed. The applicant can meet the standards after additional due diligence procedures, and the application may be accepted.
From the moment the application is submitted to the time it is approved, the qualified investor route takes 30 days, while the friendly nations and forestry investor routes take four to six months.
This program does not provide direct citizenship through investment in Panama. After five years of permanent presence in Panama, the investor and their family can petition for citizenship. After one–three years, inhabitants of various Latin American nations and Spain can apply for citizenship.
Never have getting citizenship and residency been so easy, right?. Wrong! Cause we got you covered with everything you need in order to achieving your dream