“Executive Decree 343 was signed by President Martinelli on May 16, 2012, and applies to citizens of 24 specific countries which ‘maintain friendly, professional, economic, and investment relationships with the Republic of Panama,’ including Canada and the USA.  This new visa provides immediate residency status. Other visa programs require as much as three years to obtain residency status. After five years, you may apply for citizenship.  An applicant for the new visa must provide proof of ownership of a Panamanian bank account with a balance of at least US$5000. Proof of income is also required.”

http://www.internationalman.com/global-perspectives/new-possibilities-in-panama

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