1. Passport is good for travel to Central and South America and all of Europe visa free.
2. No personal income tax!!
3. Free exchange of currency--can have U.S. dollar accounts.
4. Cheap land and a beautiful country.
5. Only 3-4 weeks to apply for Citizenship and Passport and on first visit down can get Cedula, Permanent Resident Card valid ten years and a Drivers license.
6. Good foreign banks that with an account you can get a visa card and U.S. dollar accounts.
7. Part of Mercosur, so free trade and travel to Brazil, Argentina, Uruguay, and Associate members Chile and Bolivia.
To proceed, you first need to provide the following documents:
1. Birth Certificate.
2. Medical Certificate.
3. Police Certificate (if your country of residence does not issue police certificates contact us for advice).
4. Marriage documents.
5. Copies of passport.
#2,3,4,5 you will need notarized.
If #4 is certified you don't need the notary.
Then all documents are sent to the Panamanian consulate to be legalized. This is $42.50 per document. Then we send all the documents to Panama and get you ready for your visit.
When there in Panama, you need to deposit $1000 for the adults in a bank account. You can use any bank and after you get your letter stating you have $1000 in the bank you can withdraw it. You can use either Dutch or German banks if you are concerned for the safety of your money. And the accounts can be in dollars. This normally requires you to be in Panama for 7 business days. But you will discover that it is a fun country to vacation in.
Cost: Our referral fee to the Panamanian lawyer is Eur 5,000. The Panama law firm charges US$30,000 to US$52,500 depending on your requirements. Your wire those funds to the law firm, not to us. A personal visit to Panama is mandatory for the processing of your naturalization and Panama passport and other documents.
