Friendly Nations Visa (Panama)
Friendly Nations Visa (FNV) is Panama's permanent residency program for nationals of about 50 "friendly" countries, including Spain, most of EU, USA, UK and many Latin American countries.
Requirements (post-2021 reform): Any of three:
- Employment contract with a Panamanian company.
- Real estate property $200,000 USD+ in your name.
- Bank deposit $5,000 USD+ with 3-year fixed term in Panamanian bank.
Documentation:
- Apostilled valid passport.
- Apostilled criminal records from country of origin (not >6 months old).
- Panamanian medical certificate.
- Banking reference letter.
- Sworn declaration of economic means.
Processing:
16 weeks with local attorney ($3,000-5,000 USD fees + government).- After approval: Panamanian ID card in 1-2 weeks.
Benefits:
- Permanent residency (not temporary).
- No minimum presence requirement (technically 1 day every 2 years to avoid loss).
- Access to Panamanian banking system (Banistmo, Banco General, BAC).
- 0% income tax on foreign-source income (Panamanian territorial system).
For Spanish nomads: combinable with the territorial system → 0% income tax on your European income. Watch the risk from Hacienda (Panama has been on EU non-cooperative jurisdictions list).