Introduction – Our Law Firm gets numerous inquiries from clients around the world for second passports and second citizenships. Generally these programs require one to have a substantial sum of money that can be invested. The Panama Instant Passport program requires one to place about $175,000 in the bank in Panama for five years in return for $750.00 a month in bank interest paid monthly and a five-year passport, which includes a five-year residency. Not everyone has this much money to invest, even though they can decline to renew the program after five years and just take their money back making the program practically free.
The concerns with this program are what if the program is not available in five years? What if the program requires more money at the end of five years to renew? Will I need to present another passport to renew this passport at the end of five years or can I renew based on the Panama Passport? We do not know what the renewal requirements will be in five years. This has caused us to come up with alternative measures for those wanting to leave their home country and start all over with a new residency, citizenship, passport, driver license,...
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