The best ways to work and live in Panama

Panama is blessed with warm weather all year round, fantastic beaches, flavorsome food, lofty mountains, and excellent internet connectivity. It is economically and politically stable and is one of the select Latin American countries with an Investment Grade.

To top all of this, Panama is quite close to the US and has modern infrastructure. All in all, Panama has everything you need in a country you’d want to live and work in. These are the different ways in which you can live and work in Panama:

Permit/Visa options

Panama has a legal immigration pathway for everyone ranging from students to retirees. Your visa options can be broken down into two categories:

Short-term Panama Immigration: These visas let you legally stay in Panama for up to 180 days. For some nationalities, this may be limited to 90 days.

Long-term Panama Immigration: You need to obtain these visas if you wish to stay in Panama for more than 180 days. People of select nationalities may have to get one of these visas if they plan to stay in Panama for more than 90 days.

Documents required

Short-term visas and Residence Permits:

Irrespective of your nationality, you need to produce the following documents to apply for a short-term visa or residence permit:

• A valid passport
• At least $500 is available. It’s alright if you have it in a credit card, bank statement, or traveler’s check.
• A ticket out of Panama at the end of your stay
• If you are arriving from an at-risk country, you may have to show a yellow fever vaccination certificate upon arriving in Panama.

You may also have to pay $5 for a Tourist card if it isn’t covered in the cost of your flight. If you are getting a private boat to Panama, you may be charged $110 or more on arrival.

Some of the documents required to apply for a tourist visa are:

• A filled-up application form
• A valid passport
• Two passport-size photographs
• Proof that you were invited by a host in Panama. The host could be a tour guide or tour operator.
• Any other documents that may be related to your application form.

You will also have to pay a Tourist Fee of $60.

Long-term visas:

Friendly Nations Visa. The 50 countries that qualify for the Friendly Nations Visa are:

1. Andorra
2. Argentina
3. Australia
4. Austria
5. Belgium
6. Brazil
7. Canada
8. Chile
9. Costa Rica
10. Croatia
11. Cyprus
12. Czech Republic
13. Denmark
14. Estonia
15. Finland
16. France
17. Germany
18. Great Britain
19. Greece
20. Hong Kong
21. Hungary
22. Ireland
23. Israel
24. Japan
25. Latvia
26. Lichtenstein
27. Lithuania
28. Luxembourg
29. Malta
30. Mexico
31. Monaco
32. Montenegro
33. Netherlands
34. New Zealand
35. Norway
36. Paraguay
37. Peru
38. Poland
39. Portugal
40. Republic of Korea
41. San Marino
42. Serbia
43. Singapore
44. Slovakia
45. South Africa
46. Spain
47. Sweden
48. Switzerland
49. Uruguay
50. USA

If you hold a passport from the above list of Panama’s 50 friendly countries, your pathway to a permanent residency gets significantly simpler, thanks to the Friendly Nations Visa. Apart from that, the other requirements you must be professional or economically tied to the country. The three ways in which you can fulfill this requirement are by:

• Being hired as a professional by a Panamanian company
• Purchasing real estate in Panama worth at least $200,000
• Depositing $300,000 into a fixed deposit account for at least three years.

You can apply for a Panamanian Residency after two years. And five years later, you can apply for Panamanian citizenship.

The other long-term working visas include:

• Freelancer/Remote Worker Visa
• Professional Visa
• Investor or Residency by Investment Visa
  • Person of Independent Means/ Self-Economic Solvency Visa
  • Business Investor Visa
    • Macro business investor visa
    • Small Business Investment or Microbusiness investor visa
  • Reforestation Investor Visa
    • Agricultural Investor program
  • Qualified Investor Program
  • Work Permit
    • 10% Rule Work Permit
    • Marrakesh Agreement Work Permit

Some professions like Doctors and Lawyers are reserved for local Panamanians. So you must consult with a qualified Panama Immigration Lawyer to check if your profession is restricted to locals.

Have you read?
Best Business Schools In The World For 2022.
Best Fashion Schools In The World For 2022.
Best Hospitality And Hotel Management Schools In The World For 2022.
Best Medical Schools In The World For 2022.