Foreigners can be obtain immediate Panamanian Passport under the condition that they make a 5 year time deposit (certificate of deposit - "CD"), at the Banco Nacional de Panama, which earns a minimum of US$750 per month in interest income.

Since interest rates fluctuate, the minimum amount generated monthly must be $750. That means the original 5 year CD deposit with the Banco Nacional de Panama will vary depending on current interest rates. The monthly interest earned from the time deposit (CD), would be deposited directly into the applicants savings account, and the applicant can withdraw the funds in the savings account at any time.

Procedures for Panama Immediate Passport:

1. The bank account is opened, and you make the time deposit. The bank then provides a certificate of deposit, and a copy of the time deposit contract

2. Provide all required documents, and sign the Special Power of Attorney for our law firm to handle your immigration paperwork.

3. Our law firm submits your application and documentation to the Immigration Department of Panama, for the Panama Passport.

4. Within approximately 2 to 3 weeks, the Immigration Department will issue the Panama Passport. At this point, the applicant is required to go physically to the Immigration Department for picture taking and thumb printing, for the issuance of the Panama Passport.

* Note: It is not necessary for applicants to reside in Panama to qualify for or maintain the Panama Passport, however, a short visit to Panama is required for the processing of the passport. Also, the applicant does not obtain Panamanian citizenship or legal residency through this program.

Fees For Primary Applicant:

Legal Fee - Processing of Panama Passport: US$5000
Government Fees and Costs: US$800

Documents that our law firm will provide to you:

Special Power of Attorney, signed by the applicant, authorizing our law firm to process the immigration applications and documentation.

* Note: for authenticating documents through the Panamanian Consulate, please contact us to request the contact information of the Panamanian Consulate nearest you.

Original Police record of the applicant, from the place of residence, duly notarized and authenticated by the Panamanian Consulate nearest you.

Photocopy of valid passport of the applicant, including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all pages showing entry/exit stamps (all pages used in the passport).

Original Birth Certificate of the applicant, duly notarized and authenticated by the Panamanian Consulate nearest you.

Original Marriage Certificate for the applicant (if applicable), duly notarized and authenticated by the Panamanian Consulate nearest you.

Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant has no contagious diseases and is in good mental and physical condition. THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA.

Six (6) passport sized photographs of the applicant.

Required Documents (for opening bank account / CD):

Photocopy of valid passport of the applicant (and dependents - if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all pages showing entry/exit stamps (all pages used in the passport). The photocopy of passport should be notarized.

Two Original Financial Reference Letters: These can be from any bank, brokerage firm, or credit union. They should be on the financial institutions letterhead, signed by a representative of the financial institution, and show the contact information (address, tel, fax, email, etc.) for the reference to be verified. To view an example of a Financial Reference Letter, click on the underlined words.

Two Original Commercial Reference Letters: These can be from any company or professional (a company, attorney, accountant, etc.). They should be on the company or professionals letterhead, signed by a representative of the company (or the professional), and show the contact information (address, tel, fax, email, etc.) for the reference to be verified. To view an example of a Commercial Reference Letter, click on the underlined words.

Two Original Personal Reference Letters: These can be from any person that you know, a friend, family member, etc. They should be signed by the person, and show the contact information (address, tel, email, etc.) for the reference to be verified.

The applicant for any type of visa, need be present physically at the immigration office in Panama, at the time of Visa application.

Contact us: info@panamalegalconsultants.com

- Immediate Passport Program: offering Immediate Panamanian Passport
- Self Economic Solvency Visa: offering Permanent Residency & Passport
- Small Business Investor Program: offering Permanent Residency & Passport
- Reforestation Visa: offering Permanent Residency & Passport
- Retired or Pensioned Program: offering Permanent Residency only
- Multiple Entry & Exit Visa (Optional)