South Africans, due to the current turmoil and uncertainty, are researching emigration options.
South Africans, due to the current turmoil and uncertainty, are researching emigration options. If one carefully reviews the options available, Panama comes out tops for South Africans in many areas
Panama is a very viable option for South Africans. South Africans are looking for a country with a stable economy, investment opportunity, a welcoming society, and a legal residency process that’s both efficient and economical.
If you are over 18 years of age with a lifetime pension or annuity paying a minimum of One Thousand Dollars US per month, you qualify for the Pensionado Visa qualifies. Each dependant would require another Two Hundred and Fifty Dollars each. The annuity or pension must be paid by a private company, the military, government pension fund, a corporation’s pension or retirement fund, a bank, an insurance company, or a Trust.
Citizens from the Fifty nations considered “friendly” to Panama, including South Africans, can emigrate to Panama with their immediate family and acquire permanent residency visa quicker than any other Panama visa. To qualify, you can either buy an existing Panama business or create a new business in Panama.
With the Panama Friendly nations visa you acquire permanent residency within three to six months, with the option of acquiring a work permit.
South Africans working for a Panama company in a professional capacity paying social security taxes and holding a university degree can become a permanent resident after two years of being a temporary resident in Panama.
A minimum investment of Eighty Thousand Dollars in a Panamanian reforestation project certified by the government including purchasing a minimum of five hectares of titled land with an additional investment of Two Thousand Dollars for each dependent.
Three options exist to qualify for Panama Self Economic Solvency visa created to attract wealthy foreigners:
• Minimum Three Hundred Thousand Dollar investment of equity into any Panama real estate with an additional Two Thousand Dollars per dependent.
• Minimum Three Hundred Thousand Dollar investment in a 3 year Panama bank CD. An additional Two Thousand Dollars per dependent.
• Combining the first 2 options by investing in both a Panama bank CD and Panama real estate where the cash and equity total a minimum of Three Hundred Thousand Dollars. Two Thousand Dollars per dependent.
A minimum One Hundred and Sixty Thousand Dollars investment in capital stock of a Panamanian corporation. The applicant can be a shareholder or an officer for the business.