Family Inclusion Under Panama’s Qualified Investor Visa: Spouses, Children, and Parents

Overview of U.S. and Panama Visa Programs

Today, we approach Panama residency from a new perspective: we delve into Qualified Investor visa for family groups. In simple words, we discuss the family members that can be included in the application.

Migration by investment always allows dependents, with the only difference being how wide the scope of acceptance is. Furthermore, it's vital to consider specific requirements. Family members may be restricted to certain ages, conditions, marital statuses, and so on. 

Types of Immigrant Visas

U.S. Immigrant Investor Visas: Friendly nations as the ideal path for US nationals

First, let’s discuss a residency that's highly convenient to applicants from a specific list of countries called “friendly nations”. Coming from any of these jurisdictions, all you need to do is prove that you have a financial connection to the country according to Executive Decree 226, article 3. 

Thus, the investor has a more convenient entry through a real estate investment of $200,000. After two years, the visa will need renewal as it's not a permanent permit. 

Panama Regrouping Family Visa

In this case, the visa is strictly related to family. It intends to reunite members of the same family core, providing temporary residency to the spouse and children (under 18) of any temporary resident in the country of the canal.

Panama Qualified Investor Visa

Qualified investor is purely an investment visa, i.e., it doesn't depend on nationality, having a pension, or any other previous requirement. If you have the funds, if these funds come from abroad, and if you don't have a criminal history, you are eligible and most likely to obtain the said visa. 

Due to its flexibility, cost-effectiveness, and direct access to a permanent resident status, this program is one of the most recommended by experts.

Details about Panama investor program (QI)

• Minimum investment of $300,000 in real estate or
• Minimum investment of $500,000 in the stock market or
• Minimum investment of $750,000 in a fixed bank deposit
• Immediate permanent residency
• Direct access to having a Panamanian ID (cedula)
• Flexible minimum stay permits
• Possibility to maintain residency even after selling (after 5 years)
• Fast processing (one month approximately)
• Allows the investor to apply with dependents (parents, spouse and children)
• Safe investment with returns
• Possibility to apply through a developing project (paying $300,000 up front)
• Access to a booming real estate market
• Access to high-quality units at reasonable prices
• Many projects come with a short-term rental license in place
• Many projects offer rental management services

Is Qualified Investor convenient for those who are also eligible for Friendly Nations?

If you came this far into the article, and you are from the US, Canada, France, Poland, South Africa, or any of the friendly nations, you're probably wondering which path to take. 

Having fewer options has a bright side: you don't have to make so many decisions. You get what you can get. So, the question arises: which one is more convenient?

The main difference lies in the following factors: time and money. With the friendly program, the real estate threshold is lower, yet you obtain only a two-year permit. On the other hand, Qualified Investor requires $300,000 ($100,000 more) but grants immediate permanent residency. Read our expert’s opinion on the subject below. 

QI vs Friendly nations 

Mundo’s expert opinion: “Many clients who are eligible for friendly nations have come to me asking whether to choose these over the standard investment visa. My answer is always the same: how urgently do you want your permanent status?

Like I always say, one of the country's best perks is its flexible stay terms. So, if you see yourself living in Panama for several years ahead, then why not throw in that extra 100,000 and obtain permanent residency right away?

Application Process for Immigrant Visas

Filing a Petition

Once you decide you want to get residency, write to us so we can assess your case. We will evaluate your source of funds, your profession, your background, and your dependents, and estimate the possibilities of approval or rejection.

Required Documentation

• Valid passport (has to have at least six months of validity ahead)
• Certificates of criminal history stating the absence of a criminal record
• Certificate of good health 
• Proof of having made the corresponding investment
• Proof of being the owner of a duly registered real estate 
• Purchase of sale agreement establishing the applicant’s commitment to buy real estate 
• Proof of having made the full deposit of $300,000 (in case of buying a property in development)
• Proving that the funds come from foreign sources
• Proving that the funds come from legal sources
• Certificates stating relationships with each dependent (birth or marriage certificates)

Visa Interview Process

Although there isn't a specific interview, the process does require physical presence. At the time of approval, applicants must provide biometric data to the immigration office, and receive the approval letter and resident card. 

Ask our experts

Medical Examinations and Vaccinations

All applicants must undergo a medical examination and provide a certificate from a Panamanian doctor stating that they are in good health.

Eligibility and Requirements

Key Requirements for Panama Visas

Another relevant program is Pensionado, which, in our experts' opinion, is the most convenient path to permanent residency. It's important to note that the main eligibility factor is having a lifetime pension of at least $1000 a month.

A very convenient advantage is that this pension can be 750 a month if the applicant makes a 100-000-dollar real estate investment (lower than both FN and QI).

Reforestation Program

Investing in reforestation constitutes an excellent approach, especially for those who want a cost-effective entry into the country. As you can see from the graphic below, the program contemplates both temporary and permanent permits. 

In this case, Mundo experts recommend the temporary option because it’s the lowest investment threshold across all programs (only $100,000) without asking for any additional requirements. If you want permanent residency, we recommend Qualified Investor, which is $300,000 ($50,000 less).

Visa Ineligibility Factors

Panama is quite open in the sense that it welcomes nationalities that other countries have banned. There is no chance of ineligibility if you have complied with all the conditions stipulated by law. 

This is why the process starts with a personal consultation and assessment of the case, together with your Mundo expert. This way, we can predict any potential issue and make decisions accordingly. 

Once your expert gives you the green light, and if you're totally honest with the information that you provide us and the migration authorities, there's no reason for rejection or ineligibility.

Apply for residency in Panama

Fees and Processing Times

The longest part of the process is the period when the application is being reviewed. Getting documents can take from one to three weeks, and purchasing property with the due register can take from one to four weeks. The fastest program is Qualified Investor, as processing by the migration office takes only 30 working days. 

Disclaimer: the information provided in this article may be inaccurate or outdated at the time of reading. Therefore, this article doesn't constitute legal or migration advice. Before applying for any migration permit abroad, always consult with certified professionals.

Visa Application Fees

All migration processes have two types of fees: legal fees (charged by your lawyer, advisor, or agency) and government fees (stipulated by the government). Besides, you need to factor in expenses (apostilles, translations, couriers, certificates, etc.)

Usually, in Panama, they can be broken down as follows: 

• Legal Fees – Main Applicant:
• Consult
• Legal Fees – Dependents: Consult
• Government Fees – Main Applicant: $750
• (pensionado)
• Government Fees – Each Dependent: $750 (pensionado)
• Government fees – Main applicant: 10,000 (QI)
• Government fees – dependents older than 12: 2,000 (QI)
• Dependents younger than 12: 1,000 (QI)
• Bank Account Opening:
• Consult
• Rental Agreement Assistance (if needed):
• consult
• Tax Residency Certificate (optional): Consult

Disclaimer: fees are subject to change at the authorities’ discretion. Therefore, this information may be outdated at the time of reading. Write to your Mundo expert for up-to-date information. 

Family Considerations

Can Family Members Also Receive Visas?

Yes. In Panama, the spouse, the children, and the parents of the main applicant are welcome to apply. Interestingly, the scope of dependents can be wider. If we take a look at citizenship by investment countries, we can see that some of them allow the siblings, others allow the grandparents, and others even the in-laws.  Here's a table that might be useful if you have a large family.

Conclusion on family eligibility 

The table above clearly shows that Antigua is the most comprehensive alternative when it comes to family inclusion. Panama, being a residency program (unlike the others in the chart), allows only the closest relatives.

Special considerations for children

In Panama, children over 18 must be full-time students at a university and financially dependent on the main applicant. 

Special considerations for all dependents 

All family members applying must be financially dependent on the main applicant. 

Special Considerations for Adopted Children

Legally adopted children can be included in the applications as long as the corresponding documentation is provided. If there are any suspicions of the adoption being made with the sole purpose of acquiring residency, the application might be rejected. 

Permanent Residency Status

At the end of the day, acquiring a permanent resident status in the country of the canal is relatively easy, even through temporary permits at an initial stage. In our view, this is what puts the country way above its competitors.

Panama residency versus CBI

From what was previously said, one may feel the need to compare the Central American country with citizenship-by-investment jurisdictions. The country of the canal constitutes an outstanding alternative to CBI only if you are not interested in global citizenship. 

Naturalization is possible; however, it requires relinquishing all previous nationalities. The CBI structures are more flexible by nature. 

Conclusion and Next Steps

To sum up, this nation welcomes investors from all over the world and their families to become part of a thriving environment. Territorial taxation, free zones, world-class shopping, and beautiful coastal surroundings await in the country of the canal. Thanks to its flexibility and smartly geared programs, it constitutes one of the best migration hubs today. 

Contact Mundo and start the process

We have a team fully dedicated to Panama and its alternatives. A large part of our team is located physically in our offices in the Central American capital, and they can guide you safely through the process.

We are a publication and a team whose main purpose is freedom and helping people achieve the highest level of freedom possible. We specialize in services like banking, corporate, trust, real estate investment, and migration. We are one click away for you to reach out with your questions. We’ll be expecting your message soon.

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