In the News from Panama

Panama on List of Top Residency Visa Programs

An international investment consultancy has named Panama’s Red Caret Visa program among the best in the world.

Developed by Henley & Partners, the Henley Residence Program Index 2023 reflects the “relative worth of the most reputable residence by investment programs around the world.” A wide variety of factors were considered, including taxes, processing time, and quality of life. The ultimate goal of the index is to “explore the ultimate combination of alternative residences and citizenships to mitigate risk and create opportunity” for investors, says Henley & Partners, which specializes in investment residency programs.

Overall, Panama was tied for 9th, but Canada was the only other Americas destination ahead of Panama, with the U.S. ranked behind it.  (European stalwarts Portugal, Greece, and Austria were at the top of the list.) Panama was also listed ahead of the United Arab Emirates, Hong Kong, Monaco, and other popular investment visa destinations.

Henley & Partners’ interactive list allows users to readjust the rankings based on different factors. For example, emphasize factors like quality of life, processing time, and taxes, and Panama moves up to fourth.

Panama offers a wide array of visa options, including its own version of a “golden visa,” the Red  Carpet Visa, which has proven popular with property buyers. Unlike other visa offers, Panama recognizes purchases of pre-construction property for eligibility and allows applicants to apply from their home countries, easing the process.

Panama’s program is routinely ranked among the top in the world. The Henley & Partners’ index is “based on surveys, interviews with respondents, and opinions solicited from selected experts.” It is revised annually by “leading academic researchers, country risk specialists, economists, independent expert immigration and citizenship lawyers, and other specialists.”