Relocating to Panama must be done through a Panamanian lawyer
or law firm (like most other administrative matters in Panama).
If you're not sure which is the most convenient program for you,
then please browse through the various options to see what best
suits your future plans upon arriving in Panama City. You may
also contact our lawyers or assistants to make an appointment
to visit us.
Panama's immigration
law is not found in just one section of the law. Unlike the commercial
or civil law, there is not an Immigration Code which regulates
the entire area. This means that there are many laws having little
to do with immigration which contain provisions to attract immigrants
who will invest in farming (agriculture), tourism, scientific
research and other worthy goals. Some of these laws provide for
permanent residency within one year after the visa has been granted
following the initial application, while other programmes require
various visa renewals before permanency is granted.
The goals
in Panama's immigration policies (such as attracting investment)
are achieved by granting or denying visas. There are two principal
types of visas: immigrant and non-immigrant visas. Non-immigrant
visas are primary issued to tourists and temporary business visitors,
although here in Panama they are also issued to certain categories
of workers or specialists, as well as to missionaries, students
or religious persons. Only a few categories of non-immigrant visas
allow their holders work in Panama, and quite often this work
permit is limited to a specific workplace. Immigrant visas permit
their holders to stay in Panama permanently (once permanent residency
has been granted) and ultimately to apply for naturalisation and
citizenship.
The clients that simply wish to move to Panama or live in Panama
as residents with the least amount of hassle and paperwork, we
usually recommend the pensioned visa. However, this is not the
only alternative for residency in Panama, and is obviously only
available to those persons who receive pensions or social security
payments.
Decree Law 16 (1960)
- which we shall refer to as The Immigration Act (1960) - regulates
immigration and the status of foreigners in Panama. Under this
law, its amendments and regulations, foreigners who enter Panama
can be classified as:
-
Tourists
-
Travellers in Transit or Travellers in Direct Transit
-
Persons passing through
-
Immigrants ( Immigration Programs )
-
Temporary Visitors ( Visas )
Obtaining a second
passport in Panama is useful for those who wish to:
- Relocate to a more
tax friendly country where foreign earned income, capital gains,
and interest income is not taxed.
- Relocate to a country
where one can begin business operations economically, and without
heavy restrictions, regulations, or taxes that hinder the growth
of the business.
- Relocate to a country
where real estate is still affordable for purchasing homes in
the city or land at the beaches, mountains, lakes, etc.
- Have a second home
overseas in a tropical country where they can live at or visit.
- Have a safe haven
to escape to in the event of war or any type of civil unrest that
may threaten their family.
- Actually live in
Panama permanently, perhaps after retirement.
- Relocate
to a tropical, stable, safe country where it is very economical
to live in comparison with most other developed countries such
as the US, Canada, Europe, etc.