Understanding the Panama Friendly Nations Visa: Who Qualifies & How It Works
If you’ve been researching ways to legally live in Panama, chances are you’ve come across the Panama Friendly Nations Visa. For years, it’s been one of the most popular residency options for foreigners but it’s also one of the most misunderstood.
Let’s break it down in simple terms so you can understand what it is, who qualifies, and whether it still makes sense for you.
What Is the Panama Friendly Nations Visa?
The Friendly Nations Visa was created to encourage economic and professional ties between Panama and specific countries considered “friendly” to Panama.
Originally, this visa was extremely flexible and affordable. Over time, however, the rules changed, making it more structured and slightly more demanding but still very attractive for the right person.
This visa allows qualified foreigners to obtain permanent residency in Panama, provided they can demonstrate economic or professional ties to the country.
Which Countries Qualify for the Friendly Nations Visa?
If your country appears on this list, you may be eligible to apply under Panama’s Friendly Nations Visa. However, eligibility alone does not guarantee approval. Applicants must still meet Panama’s economic or professional requirements.
Panama Friendly Nations Countries
If your country appears on this list, you may be eligible to apply under Panama’s Friendly Nations Visa.
However, eligibility alone does not guarantee approval. Applicants must still meet Panama’s economic or professional requirements.
North America
- Canada
- Mexico
- United States
Central America & Caribbean
- Costa Rica
- Dominican Republic
South America
- Argentina
- Brazil
- Chile
- Uruguay
Europe
- Germany
- Andorra
- Austria
- Belgium
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Monaco
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- San Marino
- Serbia
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- United Kingdom
Asia & Middle East
- Hong Kong
- Israel
- Japan
- Singapore
- South Korea
- Taiwan
africa
- South Africa
oceania
- Australia
- New Zealand
Important notes (this part matters)
- Being from a Friendly Nations country does NOT automatically grant residency.
- You must still qualify under one of the approved pathways, such as:
- Professional employment
- Investment (real estate or bank deposit)
- Economic ties to Panama
- Requirements change periodically, and Migration Panama is strict on documentation.
What Changed With the Friendly Nations Visa?
This is where many people get confused.
Before 2021, applicants could qualify simply by opening a Panamanian bank account. Now, you must show a real economic connection to Panama.
Today, you qualify under one of two main categories:
Option 1: Employment in Panama
You must:
- Be hired by a Panamanian company
- Obtain a work permit
- Show proof of employment
This route is best for professionals who already have job offers or are being relocated by an employer.
Option 2: Economic Solvency (Investment Route)
This is the most popular option and includes one of the following:
✔ Real Estate Investment
- Purchase property in Panama with a minimum value of $200,000 USD
- Property must be titled in your name (or through a qualifying structure)
✔ Fixed-Term Bank Deposit
- Deposit $200,000 USD in a Panamanian bank
- Funds must be locked for 3 years
This option works well for retirees, entrepreneurs, investors, and remote workers who don’t plan to work locally.
option 3: Establishing a Panamanian Company (Business Route)
Another common way applicants qualify for the Panama Friendly Nations Visa is by establishing a Panamanian company. This option is especially popular with entrepreneurs, consultants, online business owners, and investors who want a formal presence in Panama.
Here’s how it works:
Register a Panamanian Corporation
You’ll first need to legally register a company in Panama. This is typically done through a Panamanian attorney and involves incorporating a local corporation under Panamanian law.
You do not need a physical storefront, but the company must be properly registered and active.
Demonstrate Economic Ties to Panama
Once the company is established, you must show that you are economically tied to it. This can be done in a few ways:
- Hiring Yourself: You may list yourself as an employee, shareholder, or director of the company
- Business Activity: Showing that the company is operating or positioned to operate legally in Panama
This demonstrates that your residency application is tied to real economic involvement not just a paper company.
Economic Solvency Requirement
You’ll also need to show proof of financial solvency, which includes:
- A minimum of $5,000 USD deposited in a Panamanian bank account
- Additional funds for dependents, if applicable
This amount is separate from business setup costs and helps demonstrate that you can support yourself while residing in Panama.
Business License & Legal Registration
As part of your application, you’ll be required to submit:
- Company incorporation documents
- A valid Panamanian business license
- Proof that the company is properly registered and compliant
These documents form a key part of your Friendly Nations application under the business route.
Who This Option Works Best For
This route is ideal if you:
- Own a business or plan to operate one
- Work as a consultant, freelancer, or entrepreneur
- Want residency without purchasing real estate
- Prefer flexibility over traditional employment
Basic Requirements (What You’ll Need)
While exact requirements can vary slightly, most applicants should expect:
- Valid passport
- Clean criminal background check
- Proof of economic activity or investment
- Bank reference letter
- Health certificate from Panama
- Application through a licensed Panamanian attorney
Paperwork must be properly authenticated and translated where required, details matter here.
Is the Friendly Nations Visa Still Worth It?
Short answer: yes, for the right person.
This visa is ideal if:
- You want permanent residency, not just temporary status
- You plan to invest in property or keep funds in Panama
- You don’t need immediate local employment
- You want a long-term solution with flexibility
However, it may not be the best option if:
- You’re on a tight budget
- You only want to stay short-term
- You don’t want to invest or work locally
In those cases, other visa options may make more sense.
Common Misconceptions About the Friendly Nations Visa
Let’s clear up a few things I hear all the time:
❌ “Anyone can get it”
→ No. Your nationality and financial situation matter.
❌ “You don’t need money anymore”
→ You do. The investment threshold is very real.
❌ “You can work automatically”
→ Residency and work permits are separate processes.
Final Thoughts
The Panama Friendly Nations Visa is still one of the strongest residency options available but it’s no longer a shortcut.
If you’re serious about relocating, investing, or establishing a long-term base in Panama, understanding the rules upfront can save you time, money, and frustration.
And if you’re unsure whether this visa fits your situation, getting personalized guidance early makes all the difference.