As I am often asked about how to immigrate to Panama, I thought that I would let you know of our personal experiences here. Last week we picked up Susie’s E Cedula which provides for permanent residency here in Panama. 10 years ago we got her a pensionado visa which was a paper document laminated at the office in David and the only document available for foreigners.
While the process was quite lengthy, today it is not difficult and with the assistance of a good lawyer, it can done quite easily. I was lucky in that like John McCain, I was born here but unlike McCain, I chose to get my Panamanian Cedula 10 years ago and affirm my citizenship in Panama. Last month, I renewed it here in Boquete at the Tribubal Electoral which took all of 5 minutes and is a free service to the citizens here. Susie can do the same in 10 years as there will be no need to return to the City.
So, Susie and I are good for 10 years now and as I am 63 and she is still classified as a pensionado, we enjoy discounts that can save hundreds of dollars in travel, lodging and meals. We do not abuse the privilege and use it only when staying at nice hotels, fine dining and air line ticketing. Our trip to the Tribunal Electoral in Panama City included the night over in Casco where we receive 40% off out hotel bill, 25% off our air line ticketing, and 20% off our expensive Sushi dinner. Total savings for the trip was $250. This works for airline ticketing no matter where you go, so that alone can amount to thousands of dollars in savings.
While the pensionado visa is one of the most popular and available to foreigners who can prove that they receive a pension or social security, there is also the Friendly Nations Visa and related work visas available to most foreigners. These are easier and require a bank account with a small deposit of sufficient funds. The required financial amounts for visas have gone up since we moved here, so you will need to get the current amount from your attorney. Legal Fees for the immigration process can run $1,500 per person plus expenses and while I know people claim that they can get it done cheaper, you want ti use a good law firm that has an invaluable back office staff and that results in more expenses to the law firm than a solo practitioner who works out of their home.
In all instances and like bank accounts, you need to be a resident and cannot use this just to visit. Your passport allows you to stay her for 6 months and your drivers license is recognized here for 3 months which I hope one day they change to 6.
So coming to Panama is no big deal and it is an excellent Plan B should your home government start getting out of control like is happening more and more around the world. Most US banks do not allow you to hold gold or currency in safety deposit boxes and if you were unlucky enough to have lived in Cyprus your bank account could have been seized and used to save the robber bankers!
I hope that this post is helpful and I am more than happy to recommend attorneys who I have personally worked with in these matters.
Tom, Your message is very clear, concise and enlightening….I was born in the city of Colon…..and after obtaining a high school diploma, I went to the US and obtained a BS degree from the VILLANOVA UNIVERSITY and a MBA at the WHARTON SCHOOL of BUSINESS at the UNIVERSITY of PENNSYVANIA …. My dad was 19 years old when he migrated to Panamá from China…..He was a foot soldier under generalísimo CHIANG KAY SHEK, and came to Panamá to work in the construction of the PANAMA CANAL by the USA under the direction of President THEODORE ROOSEVELT…The IMMIGRATION SERVICE in Panamá told my dad that he had come too late because the CANAL was already built and in operation….and that he would have to return to CHINA…which my dad could no longer afford to do, because he had no more money….FORTUNATELY, the conversation was overheard by a CHINESE business proprietor, who offered my dad a job in his store in COLON…..My dad accepted, and the IMMIGRATION SERVICE immediately provided the document for permanent residency to my dad ….
Five years later, my dad met his wife who was born in PORTO BELLO…. As the saying goes….” ALL IA WELL THAT ENDS WELL….I read your mail with GREAT INTEREST and MUCHO GUSTO…Have a perfect day,,,,,,and keep ´em coming……( GIL )
Good info….thanks……gil
Can you please recommend lawyers? I am not a US citizen nor from a “friendly nation.”