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By
means of Executive Decree No. 26 of March 2, 2009, the Government of
Panama
significantly reduced from US$615,000 to US$260,000 the bank time
deposit at the National Bank of Panama required to qualify for a Second
Passport.
The new rule only
requires that this deposit produces a minimum of only US$850.00 per month in
interest which at current interest rates for a 5-year time deposit amounts to
US$260,000.
About the Panama
Second Passport, if you are looking to obtaining a second passport quickly, the
only immigration program that provides that is the Panama Second Passport
Program. This passport is excellent because is granted almost immediately and it
lasts for 5 years, renewable.
We have found that
the Panama Second Passport has been useful for Russian, Middle East and other
nationalities with restricted entry into EU.
With the Panama
Second Passport, they can enter most EU countries without Visa and without any
invitation letters.
One important
advantage when they travel with this Passport is that Panama has Visa-Free
agreements with 40 countries.
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