Your Best Options For Residency Overseas
Panama City, Panama
One important piece of internationalizing your life is establishing residency in another country, either because you intend to move to that country or because you want a backup residency in your back pocket in case things go completely sideways and you decide it’s time to bug out.
You have many good options in either case, including many jurisdictions that are great places to live and also offer great easy residency options, meaning they should be on your list regardless of your circumstances.
Panama offers perhaps the best backup residency option available anywhere, its “Friendly Nations” program. This allows you to obtain permanent residency right away (as opposed to temporary residency, which then must be renewed annually) and requires you to be in the country only one day every two years to keep your status. Government and attorney costs associated with establishing residency in Panama are higher than in other countries (in part because, by law, you must use an attorney and cannot attempt a do-it-yourself residency visa, as you can in most other jurisdictions). Regardless, again, this is one of the easiest residency options you’ll find anywhere if you’re from one of the 48 countries designated on the “friendly nations” list.
Residency options in Colombia are good, but that country doesn’t have a program similar to Panama’s “Friendly Nations” option. In Colombia, you can get temporary residency by investing as little as US$27,000 (at today’s exchange rate between the U.S. dollar and the Colombian peso) in a corporation. That visa must be renewed every year, and, to keep the status active, you must be in the country at least once every six months.
However, you can obtain permanent residency in Colombia immediately if you boost your investment up to US$180,000. With this visa, you only have to be in
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