Countries › Panama › Guide › 8. Immigration › Friendly Nations residence in Panama: who qualifies, the job, B/.200,000 property or B/.200,000 deposit tests, the two year provisional permit, and Ecuador added in 2026

Friendly Nations residence in Panama: who qualifies, the job, B/.200,000 property or B/.200,000 deposit tests, the two year provisional permit, and Ecuador added in 2026

Argentina. For full detail on Argentina, go to The Argentine Thread.

Last verified: 2026-10-29 · Status: Changing

Nationals of a closed list of countries, which includes Argentina and since 1 September 2026 Ecuador, can obtain permanent residence in Panama by showing a job offer from a Panamanian employer, a property worth at least B/.200,000 or a three year bank deposit of at least B/.200,000. Since August 2021 the route starts with a two year provisional residence, after which permanence is requested with the same documents. The usual B/.250 fee and B/.800 repatriation deposit apply, and the residence does not replace the MITRADEL work permit for employment.

Panama's currency, the balboa (B/.), is at par with the US dollar, which circulates as legal tender; the Superintendencia de Bancos states that the balboa's value is on a par with the US dollar (checked 29 October 2026). USD figures therefore equal the balboa figures.

Key facts

Friendly Nations: minimum property value	200000 PABDecreto Ejecutivo 416 de 2012 art. 3 (Decreto Ejecutivo 226 de 2021), as of 2026-10-29 · in force
Friendly Nations: minimum three year time deposit	200000 PABDecreto Ejecutivo 416 de 2012 art. 3 (Decreto Ejecutivo 226 de 2021), as of 2026-10-29 · in force
Friendly Nations: provisional residence before permanence	2 yearsDecreto Ejecutivo 416 de 2012 art. 3 (Decreto Ejecutivo 226 de 2021), as of 2026-10-29 · in force
Number of eligible nationalities	51 countriesDecreto Ejecutivo 416 de 2012 art. 2 (Decreto Ejecutivo 16 de 2026), as of 2026-10-29 · in force
Exchange rate used for USD conversions	1 PAB per USDBalboa at par with the US dollar (Superintendencia de Bancos), as of 2026-10-29 · in force

The rule

1. Only nationals of these countries may use the subcategory: United Kingdom, Germany, Argentina, Australia, South Korea, Austria, Brazil, Belgium, Canada, Spain, United States, Slovakia, France, Finland, Netherlands, Ireland, Japan, Norway, Czech Republic, Switzerland, Singapore, Uruguay, Chile, Sweden, Poland, Hungary, Greece, Portugal, Croatia, Estonia, Lithuania, Latvia, Cyprus, Malta, Serbia, Montenegro, Israel, Denmark, South Africa, New Zealand, Hong Kong SAR, Luxembourg, Liechtenstein, Monaco, Andorra, San Marino, Costa Rica, Paraguay, Mexico, Peru and Ecuador.Decreto Ejecutivo 416 de 13 de junio de 2012 art. 2 as worded by Decreto Ejecutivo 16 de 31 de agosto de 2026 art. 1, art. 2, 2026-08-31 official text · verified 2026-10-29 · changed: Decreto Ejecutivo 16 of 31 August 2026 (Gaceta Oficial 30601-B, in force the day after promulgation) added Ecuador to the list, subject to the same procedure, costs, deposits and two year provisional phase as set by Decreto Ejecutivo 226 de 2021.

2. The Servicio Nacional de Migración may grant a two year provisional residence to applicants for this permanent residence subcategory to carry on economic or professional activities. Besides the common requirements of Decreto Ley 3 art. 28, applicants show the economic or professional activity (excluding activities or professions reserved by law to nationals) by one of: (a) employment, with a signed work letter stating position, salary and repatriation commitment, the employer's Public Registry certificate and Aviso de Operación, after which applicant and employer must obtain a MITRADEL work permit; (b) a property owned personally or through a company or foundation of which the applicant is beneficial owner, worth at least B/.200,000, which may be financed by a local bank; or (c) a certificate from a general licence bank in Panama of a time deposit of at least B/.200,000, free of liens, for at least three years, held personally or through such a company or foundation.
Cost to do it: B/.250 Treasury fee plus B/.800 repatriation deposit (Decreto Ley 3 art. 28), and for the investment options B/.200,000 in property or a three year deposit.
Example: B/.200,000 apartment, financed in part by a Panamanian bank, plus B/.1,050 in government payments. / US$200,000 property plus US$1,050.Decreto Ejecutivo 416 de 2012 art. 3 as worded by Decreto Ejecutivo 226 de 20 de julio de 2021 art. 2, art. 3, 2021-07-20 official text · verified 2026-10-29

3. After the two year provisional period the holder may request permanent residence with the same requirements used for the provisional permit, except the fee and deposit numeral of Decreto Ley 3 art. 28.Decreto Ejecutivo 197 de 7 de mayo de 2021 (Gaceta Oficial 29290-A), art. 3, 2021-05-07 official text · verified 2026-10-29

4. The two year provisional phase applies from 7 August 2021.Decreto Ejecutivo 226 de 2021 arts. 3 and 5 (amending Decreto Ejecutivo 197 de 2021 art. 5), arts. 3 and 5, 2021-07-20 official text · verified 2026-10-29

5. Dependents follow the rules of Decreto Ejecutivo 320 de 2008 for dependents of permanent residents.Decreto Ejecutivo 416 de 2012 art. 3 numeral 3 as worded by Decreto Ejecutivo 226 de 2021, art. 3 num. 3, 2021-07-20 official text · verified 2026-10-29

Route	Main proof	Notes
Employment	Work letter, employer registry certificate and Aviso de Operación	MITRADEL work permit still required
Property	Public Registry certificate, value at least B/.200,000	May be financed by a local bank; company or foundation ownership allowed
Time deposit	Bank certificate, at least B/.200,000, at least 3 years, free of liens	General licence bank in Panama

Friendly Nations routes, Decreto Ejecutivo 416 de 2012 art. 3 as worded by Decreto Ejecutivo 226 de 2021

Worked example

A Chilean engineer hired by a Panama City logistics firm files under the employment route: B/.250 plus B/.800 (US$1,050) in government payments, a two year provisional card, then permanence. The employer still files the MITRADEL work permit and must respect the national staff ratios.
A Canadian couple without a local job buy a B/.200,000 condo (US$200,000) through a company they own; the property route covers the main applicant, and dependents follow the regulation's dependent rules.

Step by step

Confirm your nationality is on the list; the route is not available to other nationals.
Choose employment, property or deposit and assemble the proof; for property, register title before filing.
File through a Panamanian lawyer with art. 28 documents, three photos and the fee and deposit.
For employment, file the MITRADEL work permit jointly with the employer after approval.
Apply for permanence after two years with the same documents.

Common traps

The residence permit does not authorize work by itself: a MITRADEL work permit is required for employment, and professions reserved to Panamanians stay closed.
Since 2021 the employment route needs a real job offer from a Panamanian employer; incorporating a company alone is not listed as proof.
Status is by nationality, not residence: a dual national must apply with an eligible passport.
Argentina appears on the list; for Argentina's own visa and residence rules see The Argentine Thread.

Sources

← Panama's qualified investor residence (golden visa) under Decreto Ejecutivo 17 de 2026: B/.300,000 new property, B/.500,000 resale property or securities, B/.500,000 to B/.750,000 depositsOther investor residences in Panama: own economic solvency (B/.300,000 in property or deposits) and the macro enterprise investor (B/.160,000 plus five Panamanian employees) →

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