{"id":22500,"date":"2018-11-07T08:07:47","date_gmt":"2018-11-07T13:07:47","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=22500"},"modified":"2021-02-06T11:11:53","modified_gmt":"2021-02-06T16:11:53","slug":"top-residency-and-visa-options-belize-vs-panama","status":"publish","type":"post","link":"https:\/\/staging.escapeartist.com\/blog\/top-residency-and-visa-options-belize-vs-panama\/","title":{"rendered":"Top Residency and Visa Options: Belize vs. Panama"},"content":{"rendered":"
You are wise to be looking for a \u201cPlan B.\u201d Explore the two options below to figure out which one might be best for you. Let’s look at Top Residency and Visa Options: Belize vs. Panama.<\/strong><\/p>\n <\/p>\n We are going to compare two very popular residency and visa programs in Central America. Both have advantages and disadvantages depending on your point of view. As is always the case, the best solution will be a personal one that fits your specific profile and solves a situation that presents itself to you.<\/span><\/p>\n <\/p>\n <\/p>\n Are you thinking about spending more time in Belize<\/a>? \u00a0Or, perhaps, you\u2019re looking for a Plan B? Belize has favourable residency programs that fit everyone\u2019s needs.<\/span><\/p>\n <\/p>\n You\u2019ll need a Tourist Visa<\/strong><\/p>\n You will automatically obtain a 30-day tourist visa upon entering the country*. If you stay longer than 30 days, you must go to the Immigration Department and extend your visa (costs $25 USD). If you do not review your visa monthly, you will be at risk of deportation, fines, or possible jail time. After six months of renewing your tourist visa, the 30-day fee increases to $50 USD per month.<\/span><\/p>\n *Citizens of certain countries are required to obtain a visa prior to arrival in Belize. A current list can be found on the <\/span><\/i>Belize Immigration and Nationality Services Website.<\/span><\/i><\/a><\/p>\n <\/p>\n <\/p>\n <\/p>\n Five years after you receive your Permanent Residency, you can apply for citizenship.<\/span><\/i><\/p>\n <\/p>\n <\/p>\n For information and the application form, contact: Immigration and Nationality Department, Ministry of National Security and Immigration, Belmopan City, Belize, Central America; Tel.: +501-222-4620; fax: +501-222-4056<\/span><\/p>\n Resources to further review:<\/span><\/p>\n <\/p>\n **The best country for residency right now in terms of speed, affordability, and easy upkeep **<\/span><\/i><\/p>\n Panama<\/a> is an excellent choice for a second residency. It is a surprisingly modern nation, especially the capital, Panama City. The country itself has a very strongly performing economy, and the nation frequently ranks as having one of the highest satisfaction-of-living ratings in the entire world! It is also conveniently located to both the United States and Canada. <\/span><\/p>\n One of the reasons to consider Panama for a second residency is its Friendly Nations Visa Program<\/a>, which is one of the most affordable and most accessible permanent residency programs in the world. <\/span><\/p>\n For $22,180, obtain permanent residency in the tropical nation of Panama<\/a> plus agricultural land with mature teak trees nearing harvest. The Friendly Nations Visa <\/a>even allows you to secure permanent second residency for your dependents, including your spouse and children.<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n The easiest way to obtain second residency in Panama through the Friendly Nations Visa<\/a> is to make an investment in Panama. There are several ways of doing this, but by far the easiest is an investment into productive real estate (for example, farmland or a forestry project). The Friendly Nations Visa comes with not just residency, but also a bank account to be set up in Panama in the applicant\u2019s name. \u00a0<\/span><\/p>\n Applicants will need to visit Panama<\/a> at least twice to complete the application process. First to apply for and open a bank account with the minimum deposit of $5,000 (+$2,000 per dependent). This requires 1-3 days in-country. Bank accounts can take 2-3 weeks to get approved. You have to prove that you have the minimum funds in your Panamanian account when applying for residency. Funds can be removed after proving this requirement. If you are able to stay longer, a minimum of 2 full weeks, you can complete any immigration paperwork with the attorney and apply with the Immigration Department on this same trip; if not, this would need to be a separate trip, approximately 8-10 days in length. The immigration department will hold on to your passport for several days so you will need to stay in the country. Although not recently enforced, you may be required to obtain a physical exam from a Panamanian doctor. If this is required, the attorney can assist in this process. <\/span><\/p>\n The final trip is to pick up your residency card. This requires 1-3 days in-country. The attorney will guide you through the process and work with you to determine your timeline. <\/span><\/p>\n All in all, it is a fairly quick process. After submitting your residency application with the immigration office, the average time frame to receive your permanent residency is 4-6 months. The sooner you apply for the program, the sooner you will receive your visa.<\/span><\/p>\n <\/p>\n Here\u2019s what you will need to apply for your Friendly Nations Visa:<\/span><\/p>\n <\/p>\n The most affordable and viable option in Panama<\/a> right now for the Friendly Nations Visa<\/a> is through ownership of mature teak. Residency plus your own \u00bc acre parcel of teak starts at $22,180 for the primary applicant. This includes all administrative, legal, and governmental fees for applying for the Friendly Nations Visa, the opening fees for a Panamanian corporation, and fees to open a Panamanian bank account. <\/span><\/p>\n You have the option of adding dependents and spouses for an additional fee. The cost per dependent is $2,000\/person if they apply at the same time as the dependent applicant. Additional fees apply if dependents are added on at a later time. (price is dependent on which year you apply)<\/span><\/p>\n The maintenance of residency through the Friendly Nations Visa is minimal. After you receive your residency card, you are required to visit Panama only one day every two years.<\/span><\/p>\n <\/p>\n Yes, after 5 years of maintaining residency. \u00a0<\/span><\/p>\n For additional information, please click here<\/a><\/span><\/p>\nBelize<\/b><\/span><\/h2>\n
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Why Belize?<\/b><\/h2>\n
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1. Planning a vacation or want to spend extended time in Belize?<\/b><\/h3>\n
2. Thinking about relocating to Belize in retirement?<\/b><\/h3>\n
Consider the Qualified Retired Persons Program<\/strong><\/h3>\n
Who is the QRP Program designed for? Do you qualify?<\/b><\/h4>\n
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\n<\/span><\/li>\n<\/ul>\nWhat are the Benefits of the QRP Program?<\/b><\/h4>\n
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Two ways to Qualify:<\/strong><\/h4>\n
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\n<\/span>or<\/strong><\/li>\n3. Not old enough for the QRP? <\/b><\/h3>\n
You need the Permanent Residency<\/strong><\/h4>\n
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4. Want to move full-time to Belize? \u00a0Or secure a second passport?<\/b><\/h3>\n
Let\u2019s look at citizenship<\/strong><\/h4>\n
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5. Haven\u2019t yet fulfilled residency requirements but are ready to work?<\/b><\/h3>\n
Let\u2019s explore the work permit<\/strong><\/h4>\n
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Panama<\/b><\/span><\/h2>\n
Why Panama?<\/b><\/h2>\n
Benefits of the Panama Friendly Nations Visa<\/a>:<\/strong><\/h3>\n
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All resident women over the age of 55, and men over the age of 60, are eligible for:<\/strong><\/h3>\n
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The Paperwork<\/b><\/h3>\n
For the Panama Bank Account:<\/b><\/h4>\n
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For the residency application, you will need the following:<\/b><\/h4>\n
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The Fees:<\/b><\/h3>\n
Can it Lead to Citizenship? <\/b><\/h3>\n