Some previous discussion. Looks like there is some info there that's not in your post, e.g. Paraguay also has a Friendly Nations visa which is easier to maintain than Panama's? (Maintaining the visa on a long-term basis could make sense if you're concerned about a disaster where lots of people are suddenly trying to get out >>> countries like Panama and Paraguay make the Friendly Nations visa harder to obtain, while continuing to honor permanent residency for those who have already been granted it.)