Straight off the Panamanian government website. Also family friends own the ferry in Bocas. So for 29 grand I can get an HDJ 100, and Panamanian residency an that's about the same as a nice 06 100. So don't assume or insinuate anything about me thank you. Just asking for advice specific to a model.
A law was passed in 2012 (Executive Order 343) to encourage certain foreign citizens to come to Panama.
It makes obtaining permanent residency in Panama easy for citizens of 48 specific countries that "maintain friendly, professional, economic, and investment relationships with the Republic of Panama."
This program is often referred to as the "Specific Countries" or "Friendly Countries" program.
Eligible countries include the USA, Canada, and many European countries. For a complete list, click here.
It requires one simple application and a deposit of at least $5,000 USD in a local bank account, plus an additional sum of $2,000 USD for each dependent. Of course if you are an American citizen it will be a headache to actually open a bank account. But it is certainly possible.
Applicants will also have to show proof of some meaningful economic activity in Panama, such as ownership of a Panamanian corporation (new or existing), a purchase of income-producing real estate, or an employment contract from a business in Panama.
Incorporating a new LLC in Panama in order to qualify is not particularly difficult or expensive, though the paperwork must be completed before the residency application can begin. This is an especially attractive option if you have an Internet-based business or a mobile source of income.