Which countries qualify for the Panama Friendly Nations Visa?

The Panama Friendly Nations Visa is available to citizens of 50+ approved countries including the United States, Canada, United Kingdom, all European Union member states, Australia, New Zealand, Japan, South Korea, Singapore, Israel, Argentina, Brazil, Chile, Uruguay, Mexico, and several others. The list was last updated by Executive Decree 197 in 2021.

How much investment is required for the Friendly Nations Visa?

The Panama Friendly Nations Visa requires a minimum $200,000 USD investment in either Panamanian real estate or a 3-year fixed-term bank deposit in a Panama bank. Alternatively, applicants can qualify through a Panama-based employment contract with a salary of at least $850 USD per month, though the investment route is more common for international applicants.

Is the Friendly Nations Visa permanent or temporary?

Since the 2021 reform, the Panama Friendly Nations Visa initially grants temporary residency for 2 years. After holding temporary residency for 2 years, you become eligible to apply for permanent residency. The total path from filing to permanent residency takes approximately 2.5 to 3 years.

Can I work in Panama with a Friendly Nations Visa?

Yes. The Panama Friendly Nations Visa grants the right to obtain a work permit in Panama. Most applicants who work remotely for foreign employers do not need a Panama work permit at all, since the work is performed outside Panama. Those who plan to work for a Panamanian company or start a local business can request the work permit alongside their residency.

Friendly Nations Visa Panama — Residency for US, Canada, UK & EU Citizens

Friendly Nations Visa in one paragraph: Panama's Friendly Nations Visa grants temporary residency convertible to permanent for citizens of 50+ approved countries (including US, Canada, UK, EU). It requires a $200,000 investment in Panamanian real estate or a 3-year bank deposit. Approval takes 4 to 6 months, legal fees are $5,000-7,000, and you can include spouse and children as dependents.

What is the Friendly Nations Visa?

The Panama Friendly Nations Visa — Spanish: Visa de Países Amigos — was created by Executive Decree 343 in 2012 to attract professionals and investors from countries with strong economic, political, and historical ties to Panama. After a major reform in 2021 (Executive Decree 197), the program was restructured but remains one of the most popular residency programs in Latin America.

It is the default choice for most North American and European expats relocating to Panama. Unlike the QIP, which targets high-net-worth individuals seeking fast approval, Friendly Nations offers a more accessible investment threshold ($200K vs $300K) at the cost of a longer approval timeline.

Approved countries for the Friendly Nations Visa

To qualify, you must be a citizen of one of the 50+ countries on Panama's approved Friendly Nations list. The list includes:

North America

United States · Canada

Western Europe

United Kingdom · Ireland · France · Germany · Spain · Portugal · Italy · Netherlands · Belgium · Luxembourg · Switzerland · Austria · Sweden · Norway · Finland · Denmark

Central & Eastern Europe

Poland · Czech Republic · Hungary · Slovakia · Estonia · Lithuania · Latvia · Croatia · Greece · Cyprus · Malta

Asia-Pacific

Japan · South Korea · Singapore · Hong Kong · Taiwan · Australia · New Zealand

Latin America

Argentina · Brazil · Chile · Uruguay · Paraguay · Mexico · Costa Rica

Middle East

Israel · United Arab Emirates · Liechtenstein · San Marino · Andorra · Monaco

Not on the list?

If your nationality is not on the Friendly Nations list, the Qualified Investor Permit (QIP) is open to all nationalities and may be a better fit. The QIP requires a $300,000 investment but processes in 30-45 days.

Investment options for the Friendly Nations Visa

You can qualify through three pathways. Most applicants choose the real estate or bank deposit route:

Pathway	Requirement	Used By
Real Estate Investment	$200,000 USD minimum in Panama property	~65% of applicants
Fixed-Term Bank Deposit	$200,000 USD in 3-year deposit at Panama bank	~25% of applicants
Panama Employment	Work contract with Panama company, $850+/month salary	~10% of applicants

Friendly Nations vs QIP: which is better for me?

The choice depends on three factors: your nationality, your investment capacity, and your urgency.

Choose Friendly Nations if: your nationality is on the approved list, you want a lower investment threshold ($200K), and you can wait 4-6 months for approval.
Choose QIP if: you need fast approval (30-45 days), you can invest $300K+, or your nationality is not on the Friendly Nations list.

Friendly Nations Visa requirements

Citizenship in one of the 50+ approved countries
Minimum 18 years of age
Clean criminal record (apostilled police certificate)
Valid passport with 6+ months remaining
Proof of $200,000 investment in Panama (real estate, deposit, or employment)
Health certificate from Panama doctor
Documented source of investment funds

Cost breakdown

Category	Cost (USD)
Qualifying investment	$200,000+ (kept as asset)
Legal fees (full service)	$5,000 – $7,000
Government filing fees	$1,200 – $1,500
Apostille & translation	$500 – $1,000
Spouse dependent	$1,500 – $2,000
Child dependent	$1,000 – $1,500

Total out-of-pocket (excluding investment): $7,000 – $9,500 USD for a single applicant.

Timeline: from inquiry to residency

Month 1: Free consultation, service agreement, document gathering begins
Month 2: Documents apostilled and translated. Travel to Panama for 3-5 days (real estate or deposit, banking, biometrics, filing)
Months 3-6: Panama Immigration processes the application
Month 6: Temporary residency card issued (valid 2 years)
Year 2+: Apply for conversion to permanent residency

How our Friendly Nations Visa service works

Full-service end-to-end handling: free consultation, document checklist, apostille coordination, translation, real estate or bank coordination, in-person Panama accompaniment, government filings, follow-up, and residency card issuance.

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