This is why you should move to Panama

By Ricardo Cambra, Founding Partner at CLD Legal

In CLD Legal we have a practice Derecho Migratorio for almost 20 years and during this time we have dealt with clients of all kinds, both those who seek to retire in our country and those who are looking for a stable and safe country to settle with their family, Those who come to establish a business or simply people who work for multinational companies and need to obtain their Visa in order to live and work in our country.

We have already mentioned it in other articles and although it sounds trite, Panama has it all, warm weather throughout the year, beaches, mountains, good food, great internet, and air connection, but above all, it has stability, both political and economical. Panama is a proud member of a select group of Latin American countries (Chile, Mexico, Brazil, and Peru) that have Investment Grade.

The fact is that our country welcomes all foreigners, who want to emigrate to it and lead an honest and hard-working life.

From a legal point of view, there are different visa categories: non-resident, temporary resident, and permanent resident. Within these, there are also subcategories such as short-stay visas, those issued for special policies, economic reasons, demographic reasons, and labor reasons, among others.

The truth is that it is essential that you inform us in advance of the reason to emigrate, your age, if you emigrate alone and if you do it with your family, how many members make it up, your budget and the most important fact: your nationality. These data allow us to analyze your case and determine the type of visa you can access if your budget is sufficient or not and if your goals are attainable.

A clear example of informing your reasons is the following: if your ultimate interest in applying for a residence in Panama is to obtain a tax residence, know that obtaining legal residence, through a permanent resident visa, will not be sufficient if you do not comply with another set of requirements, the most important of them, staying in the country for more than 183 days (consecutive or alternate).

Once established in our country, you can open businesses or invest in these or others in any other field, such as real estate. However, it is important that you know that if there are any restrictions for foreigners, for example, in the case of business, foreigners, residents or not, cannot carry out retail trade. On the other hand, a foreigner, resident or not, cannot be the owner of a real estate that is located less than 10 miles from a border. Certainly when moving to a new country you as a foreigner will have many doubts, which is why it is very important to have experienced legal advisors, so if you are going to emigrate to Panama, you want to obtain a tax residence, start a business or buy a property, you can count on CLD Legal to provide the necessary legal advice.