Panama Temporary Residency Options: Friendly Nations Visa and Reforestation Program

Welcome to a new chapter when it comes to Panama and its residency programs. In many articles, we have delved into the immediate residency opportunities in the country of the canal rather than temporary stay alternatives.

The truth is that in our hectic times, we tend to look for the most straightforward possibilities that allow us to fulfill our goals as quickly as possible. In this context, those programs, offering a straight path to citizenship or permanent residency, are people's favorites.

Nonetheless, we don't want to disregard other options that may be right for different approaches. This is the case, for example, of a temporary stay.

Who Needs a Temporary Stay and Why

Let's face it: we don't always have everything figured out. We love citizenship by investment programs and other alternatives like the Qualified Investor Visa which grants immediate permanent residency. Nonetheless, these options are a fit for those with a long-term strategy in place.

For others who have not decided where to relocate or are simply going through a stage in life, a temporary resident visa may be the right choice. Let's analyze some hypothetical cases.

Temporary Residency: Accepting a Fixed-term Job Position

In places like Panama, more specifically in Panama Pacifico and Costa del Este, there are several multinational companies. In many cases, they bring people from abroad with fixed-term contracts.

Let's imagine a single person, a professional who's being hired with a two-year contract to work for a company in the Panama Pacifico economic free zone. It is quite possible that the person does not see Panama as a place where to stay for life. Remember, this individual doesn't have a family yet and hence no commitment. A temporary stay can very well become a long-term one, and the country that you see as a staging area can become your home for life, but this doesn't happen every time. 

A Temporary Resident Visa for Families

A businessman or a businesswoman may be looking for a new place to run a business. However, his or her family needs time to adapt. They may need some time to assess the country's advantages, check out schools, learn the language and the habits, or see how the family adapts to the local community.

Temporary Residency for Digital Nomads or Perpetual Travelers

Some people don't travel for business or job positions: this is their lifestyle. They simply are adventurers who want to experience the thrill of living abroad. This approach is getting more popular now thanks to the concept of Home Office and the development of digital means that allow people to work from anywhere.

It makes sense for these people to try out a temporary stay so that they can live legally in the country for a few months or years with no strings attached.

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Obtaining a Temporary Resident Visa in Panama: What Are the Options

Luckily, Panama has a wide variety of programs catering to every need. We've promoted the Qualified Investor Visa on many occasions for various reasons. We chose it because it provides immediate permanent residency and because it recently lowered its threshold for real estate. Another outstanding advantage is that this visa doesn't depend on the applicant's previous nationality.

But we need to acknowledge that there are other options that are cheaper and will fit right in if you just need a temporary stay.

A Temporary Residency through Friendly Nations

If you are from one of the 50 called “friendly” countries, this may be the best program ever. It requires no investment if you're offered a legal contract by a company registered in Panama. This will be the case of the first hypothetical case stated above, i.e., a professional that is hired by one of the multinationals headquartered in Panama. If they can provide a job contract registered in the Ministry of Labor, you can get the Friendly Nations visa which grants a temporary stay period of two years.

If you don't have such a contract you can access through real estate at a much lower threshold than the Qualified Investor, only 220,000, or else establish your own company and hire yourself legally.

Temporary Residency through Teak Land Investment

The reforestation visa has been overshadowed by the Qualified Investor. This is only natural as the QI benefits are hard to match. Nonetheless, if you don't need immediate permanent residency, you can enter the reforestation visa instead, with only $100,000. Although this is only a temporary residency, it serves the purpose of letting you stay legally in the country.

Disclaimer: this article shows a general view of temporary stay options in Panama, therefore this article should not be taken as migration or investment advice. Regulations are complex and have many edges, which means each case must be assessed individually. Before making any important migration or investment decisions, make sure to conduct thorough research and consult with a certified professional.

Obtain a Temporary Resident Visa in Panama

If you want to settle down here for good, we congratulate you because this is a great decision. Mundo is very attached to Panama through professional and personal bonds, so we strongly recommend this jurisdiction for living and financial aspects.

On the other hand, we understand that many are only getting to know this country, and, for them, a temporary residency visa may be the right fit.

Through our network of lawyers and experts, we can help you obtain Friendly Nations, Pensionado, residency by giving birth, or the famous Qualified Investor. If you choose a temporary stay in Panama, there are several alternatives, and there are many more if you decide to make this place your home. Get in touch and we’ll be happy to answer your questions. 

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