Is it easier to get residency in Panama or Costa Rica? - 2023 (2023)

FAQs

How long does it take to get permanent residency in Panama? ›

A 2 year temporary resident visa is first obtained, and then after 2 years the applicant can apply for permanent resident status.

In Europe, countries that give residence permits easily are Portugal, Cyprus, Greece, Montenegro and Malta. You can easily obtain residency in the Americas in Antigua and Barbuda, Mexico, Belize, and Nicaragua. Asian countries whose residence permits are easy to get are Cambodia, Malaysia, and Thailand.

After 3 years of being a legal temporary resident, you can apply for permanent residency, which does not require proof of the original status. Regarding minimum stay in Costa Rica to maintain the status, you simply cannot be out of the country for more than one continuous year.

Panama has been known for years as an undemanding place in which to obtain permanent residency. Its Friendly Nations Visa residency was widely recognized in the immigration world as one of the easiest, and providing applicants with a wide array of benefits.

Panama has a relatively easy and straightforward process when it comes to becoming a resident, and Panama citizenship can be obtained after only 5 years. You can get started with your Panama residency by making a bank deposit from your bank account and opening a business or making an investment.

What Is The Shortest Residency? Family medicine is the specialty that provides the shortest residency program in the U.S. as it only takes 3 years and possibly another year more if the resident opts to continue with the subspecialty fellowship.

Temporary residence permit for retirees, you must have a pension income of at least $1,000 per month. Temporary residence permit for renties, you must prove you have a stable income of a least $2,500 per month from an outside source (investment, property etc) and will continue to have it for at least two years.

How much does it cost to become a permanent resident in Costa Rica? ›

Approved banks in Costa Rica, for a deposit of $US 60,000, will satisfy all government requirements for this status of residency. Deposits in state owned banks are government guaranteed without limit and most bank interest in Costa Rica is tax free.

Rentista Residency in Costa Rica

Requires proof of US $2,500 per month income for at least two years, guaranteed by a banking institution, OR a US $60,000 deposit in an approved Costa Rican bank. One amount covers the family. Must visit Costa Rica at least once a year.

The Panama Residence by Investment Program, also known as the Panama golden visa, allows foreign nationals to make an investment into the country and apply for a residence permit.

Minimum US$300,000 investment in a 3 year Panama bank CD. An additional $2,000 deposit is required for each 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 US$300,000 (or foreign currency equivalent).

Immigration requirements vary depending on your nationality but most international visitors can stay in Panama for 90-180 days without applying for a visa.

1. Uruguay – The Cheapest Residency Program in South America With the Greatest Benefits. Uruguay's Residency Program is one of the easiest South American permanent residencies to obtain. Fiscal residency is also offered in exchange for investment.

For any Panama residency application, the Panama immigration department requires the applicant to provide an authenticated criminal history report issued by a “federal”, “central”, or “national” police force or criminal investigation authority.

Santiago has a very low cost of living and is one of the cheapest cities in Panama for nearly everything. Monthly food costs are around $80-$120 per month, per household for basic necessities. Utility costs are standard, with electricity running around $25-$30 without A/C, and about 3x that with moderate A/C usage.

Can a U.S. citizen get dual citizenship in Panama? ›

Panamanian nationality law requires an oath of renunciation of former citizenships as a condition of naturalization. However, de facto, Panama permits dual citizenship, as the renunciation may not have an effect if is not also executed through the relevant authorities of the applicant's current country of nationality.

The question here is can I have permanent residency in more than one country? Yes. You can.

North Korea

North Korean (DPRK) citizenship awarded to foreigners is the rarest, and most difficult citizenships in the world.

You can generally request expedited processing by calling the USCIS Contact Center at 800-375-5283 (TTY 800-767-1833) or by asking Emma after you have obtained a receipt notice.

Switzerland. Switzerland looks to be the best country to live in 2023. It was the highest-ranking country on the latest HDI report, with a score of 0.962. Switzerland has remained at the top spot since 2015 and has seen an annual average growth of 0.19%.

Canada. Located in North America and sharing the longest binational land border of the world with the USA, Canada is undoubtedly the most desirable country in the world to immigrate to. The government is known for its welcoming attitude toward immigrants.

Does buying property in Costa Rica give you residency? ›

Obtain Costa Rica residency through your real estate purchase. You can buy a property anywhere in Costa Rica, live in it, and use the purchase as an investment to apply for your Costa Rica residency.

U.S. citizens can stay in Costa Rica for 90 days without any permit. And if you want to stay longer? You can do something called “perpetual tourism.” For one day, you can leave Costa Rica for any neighboring country and come back and be able to stay another 90 days in the country legally.

Unless you're a first degree relative to a Costa Rican (through marriage or by having a baby in Costa Rica), you can't get permanent residency without first being a temporary resident for three years. After that period, you can apply to be a permanent resident and can work legally for Costa Rican companies.

(Either to return to your country or to go to another country). US passport must be valid for a minimum of one day from the day you enter Costa Rica. As a tourist US nationals cannot stay more than 90 days. For a stay longer than 90 days a residence permit must be established.

Can a US citizen live permanently in Costa Rica? Citizens of any country can become permanent residents in Costa Rica. In order to do this, they need to possess a temporary resident permit for at least three years. However, a first-degree relative to a Costa Rican can receive permanent residency faster.

Can Foreigners Buy and Own Property in Costa Rica ? The good news is, yes! The great part about Costa Rica is that foreigners and locals have the same ownership rights when it comes to buying property. Foreigners can buy property on a tourist visa without ever needing to apply for residency or citizenship.

Duration of a Panama Visa

You must apply for a temporary residence permit if you want to stay longer than 90 to 180 days in Panama. The temporary residence permit is issued for two years. After staying for two years with a temporary residence permit, you can apply for a permanent resident permit.

In Panama there is a shortage of skilled labor, but an oversupply of unskilled labor. As with many things here, finding a job in Panama can be easier once you have developed connections.

How long can Americans stay in Panama? ›

180 Day Stay-Tourists can only remain in Panama for 180 days. This rule is strictly enforced by Panamanian immigration. Travelers must ensure that immigration officials place an entry stamp in their passport.

If you receive Social Security benefits and live in Panama, you may need to contact the Social Security Regional Office by sending an email to FBU.CostaRica@SSA.Gov to continue receiving benefits. The Social Security Administration (SSA) relies on beneficiaries to report events that may affect their benefits.

Make an investment of at least $300,000 USD in a 3 year Panama bank time deposit (“Certificate of Deposit”). For each dependant, an additional $2,000 USD needs to be invested. The Panama bank CD can only be in the name of the primary applicant and not in a trust, corporation, or foundation.

In general, unless you plan to live in the very local cities, where primarily only Panamanians live, a mid-range lifestyle will cost anywhere between $1,000 and $3,667 per month, depending on which city you choose. These estimates are for couples, families, or solos looking to maintain a bit of their former lifestyle.

The requirements are verification of USD 300,000 in a local bank or the purchase of $300,000 in real estate. After 5 years, you can apply for citizenship. Moreover, marrying a Panamanian citizen is also an option. A valid and authentic marriage to a Panamanian citizen can lead to permanent residency.

Visa Requirements: To live in Panama full-time, you'll need a residency visa. There are several different types of residency visas available, including investment visas, pensioner / retirement visas, friendly nations visas, and more.

You can expect the processing time for permanent residence to be more lengthy than most other visas. According to USCIS, an application for permanent residence (Form I-485) will take anywhere from 6 months to 33 months to process.

Green Card Timeline

The processing time for a permanent resident card is anywhere from a few months to many years, depending on the type of green card you're applying for and where you're applying from.

It may take up to 90 days from the date you entered to receive your permanent resident card. You entered the U.S. using your immigrant visa, You paid the immigrant visa fee AFTER you entered, It may take up to 90 days from the date you made your payment to receive your permanent resident card.

Show you have been physically present in the United States for at least 30 months out of the five years immediately before the date you file Form N-400; Show you have lived for at least three months in a state or USCIS district having jurisdiction over your place of residence.

Can you be denied permanent resident? ›

The U.S. government can deny a green card application ( lawful permanent resident – LPR) if they determine that the individual who is applying for an immigrant visa is “inadmissible” to the United States.

To apply for permanent resident status, file Form I-485, Application to Register Permanent Residence or to Adjust Status. Please read the instructions on the form and follow them carefully. Filing instructions and forms are available on our Web site at www. uscis.gov.

As of 2023, the immigrant visa application fee for a family-based green card is $325. Added to the $535 for I-130 form, the total will be $860.

You can generally request expedited processing by calling the USCIS Contact Center at 800-375-5283 (TTY 800-767-1833) or by asking Emma after you have obtained a receipt notice.

In the first few months of 2023, we have continued to see improvements in processing times for many petitions and applications. For example, the current processing time for the I-129 petition is approximately 2 months.

How long does it take in 2023? The I-130 average processing time is 6 to 12 months for immediate relatives.

It takes 7 to 33 months to process a Green Card application. The Green Card processing time depends on the type of Green Card you are applying for, the location of the processing office and other factors.

An applicant applying for naturalization under INA 316, which requires 5 years of continuous residence, must then wait at least 4 years and 1 day after returning to the United States (whenever 364 days or less of the absence remains within the statutory period), to have the requisite continuous residence to apply for ...

What is the difference between legal resident and permanent resident? ›

To be a permanent resident of a country, you must be a legal resident of that country, even if you are not a citizen. Regardless of whether or not you are a citizen, you have the legal right to dwell in the country permanently.