How to Apply for Your Residence Permit from Friendly Countries in Panama

Decree Law 197 of 2021 introduced significant changes to the process for obtaining a Residence Permit from Friendly Countries in Panama. Among the most important updates, it should be noted that the permission is now initially from temporary residence for two years, before you can apply for permanent residence.

Why this change? The primary objective is to ensure that applicants meet established requirements while demonstrating a genuine connection to the country, whether through work, family, educational or economic activities.

Below, we break down the main points of these changes and what they mean for future applicants:

• Provisional period: Two years before you can obtain permanent status.
• More specific documentation: Greater clarity and authenticity are required in the submitted documents.
• Strict control: The Ministry of Labor is more involved in ensuring compliance with labor laws in the country.

To apply for the Friendly Countries Residence Permit, you will need to gather a series of essential documents. Make sure everyone is complete and properly authenticated before starting the process. These are the main documents:

• Step 1: Valid Passport with their respective full copy.
• Criminal Record Certificate of the country of origin, duly apostilled.
• Proof of financial solvency: Bank statements that demonstrate stable income.
• Job offer letter: Issued by a company registered in Panama (if applicable for work reasons).
• Certificate of Ownership (if it is for investment in real estate)
• Bank Certification of investment (if it is by deposit in a fixed-term account)
• Request form: Completed and signed.
• Payment of government fees: Including the administrative cost and the repatriation bond.

It should be noted that any document issued abroad must be duly apostilled or legalized to be accepted in Panama.

One of the most popular ways to obtain a Residence Permit under the category of Friendly Countries is through work reasons. According to Decree Law 197, foreigners must submit proof of employment in a company established in Panama. This includes a formal letter that details:

• The position you will occupy in the company
• The agreed salary
• The company's registration in the Public Registry of Panama

Additionally, the employer must manage a work permit with the Ministry of Labor from Panama. This process, although it may seem complicated, is essential to align with current labor laws.

If you plan to pursue this route, consider seeking professional advice to ensure a smooth process and avoid refusals.

Filing an application for a Residence Permit in Panama can be a laborious procedure if the necessary precautions are not taken. Here are the most common mistakes you should avoid:

• Incomplete or outdated documentation: One of the most common reasons for rejection.
• Failure to meet deadlines: For example, not initiating the process within the established period may lead to stricter procedures.
• Request without meeting the requirements: It is essential to verify that you meet all the conditions to apply under this category.
• Don't consult with legal professionals: A mistake that can cost you time and resources.

Remember that proper planning and advance preparation are key to getting your request approved in the shortest possible time.

Obtaining your Residence Permit under the category of Friendly Countries in Panama not only provides you with the necessary legality to reside in the country, but also a series of additional benefits:

• Access to job opportunities: Panama has a growing labor market.
• Easy to open bank accounts and businesses: The country's economic stability makes it an ideal place for entrepreneurs.
• Quality of life: Panama offers a safe environment, tropical climate and excellent living standards.
• International connections: Thanks to its strategic location, the country is an access point for the rest of Latin America and beyond.

In addition, if you meet all the requirements, you will be able to choose permanent residence after two years of temporary residence.