If You Are Working Under Marrakech Treaty

Panama Canal is the main source of revenue for Panama and it was built by the U.S. Army Corps of Engineers between 1904 and 1914. Panama Canal is considered one of th modern World Wonders and all ships going through Panama Canal must pay a toll for passing through. The toll varies and is based on the type of vessel, its size, and its cargo. The toll ever paid was $376,000 by the Norwegian Pearl cruise ship in 2010. According to Panama Canal Authority, the Canal´s revenue in 2018 exceeded$3.17 billion.

The Panamanian constitution is investor friendly and it gives foreigners and its citizens the same right to own property.

PANAMA ZERO TAX FEATURE

If you wish to escape the TAX GRIP in your home country, the low taxes in Panama (or even Zero Taxes) oer a great alternative.

Once you are a Panamanian resident, you are only obliged to pay low taxes on the income earned in Panama. Unlike the tax system in the USA and Europe, where citizens hav taxes on income generated abroad ( DOUBLE TAXATION ), Panama only taxes what you earn within its borders and your oshore earnings, foreign investments, and foreign sal essentially Tax-Free in PANAMA.

Panama is now rated as the #1 Retirement country in the world. The cost of living is relatively low and the climate is tropical all year round. Panamanians considered friendly pe the food is delicious. Panama City airport located in Tocumen and it oers many daily ights to Miami, New York and Europe. Panama has the most appealing programs such a tax benets for foreign investors and retirees discount that is unique in the world.

Immigration and residency requirements vary depending on your nationality and status but most international visitors may stay in Panama for 90 to180 days without applying fo In order to apply for Panama residency, you need to be 18 years of age and have a valid passport. For obtaining residency, one needs to have a Panamenian lawyer to represent h in the immigration oce by way of Power of Attorney. It is also required that all the documents from a foreign language, to be translated to Spanish by a Panamaian Certied Tr Apostiled by Panamenian consulate overseas and then authenticated by ministry of exterior in Panama.

In addition to the above, all visa applications require to obtain a health certicate from a clinic in Panama as well as obtain a police report from their home country indicating no history..

Even though immigration regulations may change without prior notice, below we mention some of the most popular format to get permenant residency in Panama.

Most visitors can stay in Panama between 3-6 months without leaving the country. However you need to get permanent residency card if you wish to make Panama your home.

More Residency Options:

Entertainment worker’s visas, which may be granted for a maximum non extendable 9-month term Short-term worker’s visas, which may be granted for a maximum non extendable 3-month term Domestic worker’s visas, which may be granted for a maximum extendable 1-year term REFUGEES VISA PROGRAM: This applies to those refugees, persons who are seeking asylum, stateless, and persons entering Panama under provisional of human statute.

NON RESIDENT VISA OR PERMIT IN PANAMA Tourists Visas, Visa autorizado, Passengers-In-Transit visas, and Marine Workers visas fall under this category. MISCELLANEOUS VISA PROGRAM: Other forms of Panama residency programs can be obtained.

In order to become a permenant resident in Panama, you need to hire a Panamenian attorney to represent you in the immigration oce.

A Panamenian attorney is required to submit to the immigration oce of Panama a series of documents depend on the applicant status and requirement.

A power of attorney is a formal document that you need to sign before a notary public in order an attorney to represent you before the immigration oce.

Some of the standard documents required from all applicants

1. Power of Attorney ( PODER ESPECIAL ) must be given to a Panamenian lawyer in order for him/her to represent the applicant before the immigration oce. The Poder notarized before a Notary Public in Panama in order to become valid.

2. Copy of all pages of your valid passport including the front & back covers

3. Health certicate from a clinic or a medical doctor

4. A copy of local police report from your home country. However in case, you are an American citizen, you need to provide a copy of criminal history from FBI.

The police report or FBI report needs to be sent to a Panamenian consulate in your home country to be Apostiled, then to be authenticated by Minitreio Exterior in Panama. A procedure, the report needs to be translated to Spanish language by a certied Spanish translater in Panama.

5. Three fotos ( passport size )

6. Certied Checks may vary depend on each applicant status & type of visa.