Can I qualify for a Panamanian resident visa by purchasing a condo at Big Creek Village?
Possibly. The self-economic solvency visa law (visa de solvencia economica propia) establishes that investors can qualify for a permanent resident visa if they; (a) invest US$200,000 in a titled property in Panama, (b) invest US$200,000 in a 2 year time deposit or CD with a Panamanian bank, or (c) invest a combination of US$120,000 in a time deposit and US$80,000 in a titled property. Please note that to qualify for this type of resident visa, the property and/or CD account must be in your personal name. Also, the property must not be financed by a local Panamanian bank. Therefore, if you purchase a unit that is priced at US$200,000 or more, and you buy without local Panamanian bank financing, then you can qualify for a resident visa. There are also other types of visas that you may qualify for such as the Pensionado Visa, which requires that you prove that you have a pension income of at least US$500 per month (add US$100 per additional dependant). 20.
