Panama Friendly Nations Visa - Latest Changes

[Julisa Jaramillo]

Executive Decree No.226 of July 20, 2021, modifies articles of Executive Decree No.197 of May 7, 2021 in the following requirements:

1. Incorporates the Republic of Peru in the list of countries with which friendly, professional, economic and investment relations are maintained;

2. For reasons of investment in a real estate property: Certificate of Public Registry of Panama that proves the ownership of the real estate property that has a minimum value of TWO HUNDRED THOUSAND BALBOAS, not only in a personal capacity of the applicant but now also through a legal entity (corporation) in which this is the final beneficiary of the shares, contributions or social quotas of the company; or, founder and final beneficiary of a private interest foundation.

3. For reasons of Fixed-Term Deposit (Certificate of Deposit): Certification of a general license bank operating in the national territory, in which it is stated the existence of the deposit with a minimum validity of 3 years and for a value not less than TWO HUNDRED THOUSAND BALBOAS, which may not only be in the personal capacity of the applicant but now may also be in the name of a legal person (corporation) in which this is the final beneficiary of the shares, contributions or social quotas of the company; or, founder and final beneficiary of a private interest foundation.

4. This Executive Decree will become effective on August 7, 2021.