The Republic of Panama is a country in Central America made up of 10 provinces. The provinces of Panamá, Panamá Oeste, and Chiriqu are the most important. It is in Central America and shares borders with both Colombia and Costa Rica. It is the 4th largest country in Central America, with a total area of 75,417 square kilometers. In the middle of the country, there are rough mountains, and in the uplands and along the coast, there are plains. It has a tropical maritime climate that is hot and humid, with a long rainy season from May to January and a short dry season from January to May. Overall, there are about 4.1 million people living there. Panama City is both the country's capital and its most populous city. Colón, David, and La Chorrera are also important cities. Tocumen International Airport (PTY) is the country's biggest and busiest international airport, with about 15 million passengers a year. It is the busiest airport in Central America because of this. The airport connects to places in the region, in North America, and in Europe.
African, Native Panamanian, and European traditions all make up Panamanian culture. Most of the people live there are Christians. Spanish is the main language. The law in Panama is based on civil law, and the Supreme Court reviews laws that have been passed. A Presidential Republic is the type of government.
The United States Dollar is the official currency (USD). The country has an open economy and a GDP of about $121 billion, which makes it the 11th largest country in Latin America. The average income of its people is $28,456. The services sector makes up three quarters of the GDP, so it is the largest part of the GDP. The Panama Canal, banks, trade zones, and logistics are some of these services.
Tourism is becoming a bigger part of the economy as a whole. Panama is becoming more and more popular as a place to visit. The country wants to put more emphasis on ecotourism. Hiking, trekking, diving, water sports, and sightseeing are the main things that tourists do. Panama City, the Panama Canal, the San Blas Islands, Boquete, and Panama Viejo are some of the most popular places to visit. Every year, there are about 1.8 million tourists who visit Panama. The majority of them come from countries in Latin America and North America.
The Panamanian government established the Panama Short Stay Visa for Remote Workers in May 2021. This visa is valid for 9 months and can be
Panama
Panama offers a wide range of residency options which Panama is Panama’s official investment immigration program. The Panama residency program was created to attract foreign retirees and investors to Panama. The program offers a number of benefits including a permanent residency visa, tax exemptions, and the right to live and work in Panama. Panama is an ideal place to retire due to its low cost of living, tropical climate, and friendly people. The country also offers a number of investment opportunities. Panama’s economy is growing rapidly, making it an attractive destination for investors.
This visa was created for foreigners who invest the minimal amount in fixed-term deposit assets and provide evidence that the money originates from outside the country.
Deposit 300,000USD (and an additional + 2,000USD per dependent)
A specific visa directed to reforestation efforts in Panama.
The principal applicant must invest a minimum of $80,000 in reforestation or forest plantation activities recognized by ANAM, with a minimum investment area of five (5) hectares. This Permit will be valid for two (2) years, following which the applicant will have the option to apply for permanent residency. To incorporate a dependant, you must invest $2,000 per dependent, which must be supported by a local bank reference.
For foreigners who seek to invest in a company and who are also its shareholders and dignitaries.
Invest 160,000USD (+ an additional 2,000USD per dependent)
Investors making a mixed investment in Panama (Fixed Term & Real Estate), are eligible for this temporary visa that will convert to a permanent residency after 5 years (if not absent for at least 2 years)
Invest a minimum of three hundred thousand balboas (300,000.00) in real estate or fixed-term investments, or a combination of the two, and who can demonstrate the origin of the funds. (+ 2,000USD per dependent)
The main applicant has to purchase real estate in Panama to apply for this investment visa.
Purchase real estate in Panama and demonstrate that the funds come from abroad (300,000USD + 2,000 USD per dependent)
Panama's Rentier Visa is a special type of visa that is available to retirees and pensioners. To be eligible, applicants must have a guaranteed income of at least $1,000 per month (pensioner) or $850 per month (rentier) from sources such as a pension, annuity, or investment portfolio. Once approved, the Rentier Visa allows holders to live in Panama indefinitely and gives them access to Panama's national health care system. In addition, holders of the Rentier Visa are exempt from paying Panama's income tax on their foreign-earned income.
Foreigner who enters the national territory and credits a monthly income of eight hundred and fifty balboas (850.00), which comes exclusively from interests of fixed-term deposit in the National Bank of Panama or the Savings Bank, and whose accrued interest This deposit, are free of encumbrances or guarantees of any kind, for a minimum period of five (5) years. A Rentier would need around 400k+ in assets for this return, and a pensioner only has to route his pension through Panama.
According to the SovSpot Passport Ranking Index, the Panamanian passport is now ranked 34th. It allows people to travel to 143 countries without needing a visa. As a result, it has a good overall mobility score and is a desirable passport. Visa-free travel and visa-on-arrival are available to Panamanian passport holders in countries such as Singapore, the United Kingdom, Russia, Israel, and the whole European Union. This enables for practically quick travel to some of the world's most popular destinations. Panamanian passport holders, on the other hand, need a visa to visit around 86 countries. Thailand, the United States, and Australia are among the nations that require a visa.
34
143
The number of countries Panama passport holders can enter without a visa (i.e. visa-free countries) and those Panama passport holders can enter by obtaining a visa on arrival (i.e. visa-on-arrival countries) or an electronic travel authorization is added up to determine the Panama passport ranking relative to other global passports (eTA). There are now 109 visa-free countries for Panama passport holders, 33 visa-on-arrival countries for Panama passport holders, and 1 eTA destination. Panama passport holders can travel to a total of 143 countries, either without a visa, with a visa on arrival, or with an eTA. As a result, the Panama passport is currently ranked number 34 in the world. Apart from the visa-free and visa-on-arrival countries in Panama, there are 86 more countries that Panama passport holders would need a physical visa or an eVisa to visit (i.e. visa required countries).
The National Defense Authorization Act (NDAA), which includes the AMIGOS Act, which modifies E2 visa requirements, was introduced in the United States House of Representatives.
A new interpretation from the Spanish Ministry of Justice confirms that all people born outside of Spain, children or grandchildren of people who originally had
“Zero income tax country” may sound enticing to a wealthy individual looking to reduce their tax burden. However, there are several factors to consider when
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