Moving to Panama can be a dream come true. It has a pleasant climate and friendly culture. Panama is also a great place for investors. Foreign nationals can gain Panama permanent residency by investment. This post will follow one investor’s journey toward permanent residency in Panama.
Gaining Panama Permanent Residency by Investment
Michael, a 55-year-old tech executive, was approaching a crossroads. Recently divorced and with his youngest child off to college, he knew it was time for a change. After spending thirty years growing his career and raising his family, Michael knew it was time to focus on himself.
He understood that he was closer to the end of his career than he was to the beginning. Michael was also single for the first time since his early twenties. These factors led him to consider what he wanted his retirement to look like.
Michael had no interest in retiring to Florida or Arizona, as many people have done for years, and wanted something more dynamic. He discovered that Americans were retiring and investing in Panama. Moving to Panama? He had reservations.
Living in a “Foreign” Country?
While excited by the prospects, Michael found the idea of living in a foreign country intimidating. These feelings were mainly due to how difficult some countries make it to achieve residency. Additionally, even though his children were grown, he still wanted to stay close to them.
Michael did his due diligence and discovered the Panama Permanent Residency by Investment program. Knowing that he could achieve residency by investment suddenly made Panama an attractive destination. Michael made a lot of money throughout his career. After learning more about the Panama Permanent Residence by Investment program, he realized it was in his wheelhouse.
Residency in Panama
An advantage of residency by investment is that there are many options. One popular option is to invest $300,000 in real estate. You can also make a $500,000 stock investment or provide a fixed-term deposit of $750,000 in a qualified bank.
All of these options have benefits. With its growing population, owning real estate in Panama is an excellent opportunity to grow your investment. Panama’s economy is also trending in the right direction, so investing in the stock market offers stability. The country also has favorable banking and tax laws. That makes keeping money in a Panamanian bank is as secure as keeping it anywhere in the world.
Depending on the type of investment, Michael learned he could gain residency in as little as 30 days. At most, it would take four to six months. Once he held his investments for five years, Michael could become a Panamanian citizen.
Thinking Beyond Himself
Michael started thinking about his grown children and future grandchildren. He discovered that you can fly from Panama to most places in the United States quickly and easily. Panama would also be a wonderful place for his children to come and visit him.
This research showed Michael that the Panama Permanent Residency by Investment program was his path to paradise. The significant life change he was looking for was within his site, and he could find it in Panama. Moving to Panama could be his reality.
Does Living in Panama Sound Interesting?
If you’re considering a relocation, why not consider Panama? So many others have found exactly what they were looking for in this tropical paradise. If we can help make your dreams come true, please don’t hesitate to contact us. We’ve been working with expats for years. And we can help you, too. Expats who find a life in Panama find success and a magnificent lifestyle to go with it.