Executive Order 343 of 16 May 2012 was published in the Official Gazette, "which creates the sub-category of Permanent Resident in the form of foreign nationals from specific countries which maintain friendly, professional, economic, and investment relationships with the Republic of Panama within the immigration category of Permanent Resident." Citizens of the following countries may apply for this visa:
Applicants must provide bank statement showing at least 4 middle digits "or another which shows their income and is acceptable to the National Immigration Service", as well as police record with Apostille and all other general documents required from immigrants. Immigration takes currently around 9 months for approval of applications. All applications must be filed by a lawyer.
However, work permits are still granted separately by the Ministry of Labor under the usual categories, with applicants requiring a Panama company or spouse to sponsor their application filed through a lawyer.