PANAMA TRAVELER PASSPORT
About the Panama Traveler Passport
The Panama Traveler Passport, also known as the Panama Special Passport, is part of the benefits of the Private Income Retiree Visa. This visa provides Panamanian Permanent Residency and a Traveler Passport for the applicant and his immediate family members, following the requirements under Law 9 of 1987.
The Private Income Retiree Visa requires a five-year investment in the form of a Certificate of Deposit (CD) in the Panama National Bank or the Savings Fund. This CD must generate a minimum monthly interest of USD $850.
The Panama Traveler Passport is valid only during the five-year lifetime of the CD. After the five (5) years, beneficiaries of this program may apply for an extension as long as the CD is renewed for another five-year period.
The Panama Traveler Passport looks like an ordinary passport, but it includes the original nationality of the bearer. For example, if a Chinese citizen obtains the Traveler Passport, it will show that the original citizenship is Chinese rather than Panamanian.
Obtaining the Traveler Passport DOES NOT grant Panamanian citizenship. Holders of the Private Income Retiree Visa can apply to Panamanian citizenship after five years, following the regular Panamanian Citizenship process. Since the Private Income Retiree Visa DOES NOT grant Panamanian citizenship, it creates no conflicts for citizens of countries that forbid dual citizenship, such as China, Ukraine, or Latvia.
About the Certificate of Deposit
The CD must generate interest of at least $850 per month. The required investment will depend on the interest rate at the time of creating the deposit. In 2019, interest rates are in the range of 4-5%, requiring funds for at least USD $350,000.
This CD can be renewed, or you can receive your investment plus interest after five years. However, keeping the CD open is a requirement to keep in good standing the Private Income Retiree Visa and the Panama Traveler Passport.
Requirements to obtain the Panama Traveler Passport
Once the Private Income Retiree Visa is approved, the applicant and his dependents may also apply for the Panama Traveler Passport meeting the following requirements:
- Notarized Application and Power of Attorney.
- Three photos
- Notarized copy of passport.
- Background Check.
- Certificate of Good Health.
- Declaration of Personal Background.
- Written confirmation from the Panama National Bank or the Savings Bank, stating CD details such as amount, interest, duration, and that it is free of liens.
- Notarized copy of the Certificate of Deposit.
- If the application includes dependents:
- Letter of accountability for these dependents.
- Proof of ties between the applicant and each dependent.
- Proof of address – applicant and dependent must live in the same address.
- If the dependent is 18 years old or more, single status and student status certificate.
Travelling with the Panama Traveler Passport
The Panama Traveler Passport allows holders to visit the following countries with no further permissions or visas:
Albania, Andorra, Antigua and Barbuda, Argentina, Austria, Bahamas, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Brazil, Bulgaria, Chile, Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, El Salvador, Estonia, Finland, France, Gambia, Georgia, Germany, Greece, Guatemala, Guyana, Honduras, Hungary, Iceland, Indonesia, Ireland, Israel, Italy, Jamaica, South Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mauritius, Mexico, Micronesia, Monaco, Montenegro, Netherlands, Nicaragua, Norway, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russia, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, San Marino, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Trinidad and Tobago, Turkey, Ukraine, United Kingdom, Uruguay and Vatican City.
Besides, holders of a Panama Traveler Passport may visit the countries listed below and apply for a tourist visa at the time of entry:
Armenia, Cape Verde, Comoros, Djibouti, Egypt, Guinea-Bissau, Iran, Jordan, Kenya, Laos, Lebanon, Madagascar, Malawi, Maldives, Mauritania, Mozambique, Nepal, Palau, Qatar, Rwanda, Somalia, Sri Lanka, Tanzania, Timor-Leste, Togo, Tuvalu, Uganda.
Also, the Panama Traveler Passport also allows holders to visit the following countries with an electronic visa:
Azerbaijan, Cambodia, Gabon, India, Kyrgyzstan, Lesotho, Vietnam, Zambia and Zimbabwe.
Those traveling to Samoa need an entry permit at the time of arrival in the country, while if their destination is Seychelles or the Solomon Islands they must present a visitor permit, and to enter Suriname they will be asked for a tourist card.
Panama Traveler Passport – Obtain the right legal advice
The Kraemer & Kraemer team can answer your questions and support you in the process of obtaining a Panama Traveler Passport. Contact Us today.