Pardini & Asociados Image Pardini & Asociados Image

Panama launched a new Visa to promote "working from home" for tourists while in Panama

Posted on 2021-07-09

Panama has to be right up there on your next destination list, since it has launched a new and innovative tourism strategy in the form of a Short Term Visa for Remote Workers. We offer a perfect balance by being affordable yet great for working hard due to our wide connectivity. Come to Panama and take advantage of the hub of hubs.

The Short Stay Visa for Remote Work has been created as established in the Executive Decree N°198 of May 7th of 2021.

This category will allow Panama to become a destination for long-distance workers. This will contribute to the development of the national economy through investment and consumption of goods and local services.
 
Who is eligible for Panama’s Short Stay Visa for Remote Workers?
 
This category is open to all foreigners that fulfill the following requirements:
 
Has as a contract for a transnational foreign company or in other words an autonomous worker that is working remotely.
Executes functions that are effective outside of the country.
Receives income from an exterior source and the amount is no less than B./36,000 Panamanian balboas annually or it’s equivalent in foreign currency.
Once granted, the beneficiary will not be required to fulfill any additional procedures and its duration will be of nine months, extendable for the same period.
 
To apply for this visa, the foreigner that has a contract with an external company must fulfill the following requirements:
  • Complete the corresponding request form
  • Three photographs ID size
  • Copy of medical insurance. It is important that this insurance covers the person in Panamanian territory.
  • Letter from the company with letter-head and signed by the legal representative that indicates:
  • Solicitors general information
  • Position and functions that the person executes
  • Monthly income
  • Work modality
  • Commitment to assume costs of returning to their country
  • Affidavit of non-acceptance of job offer in national territory
  • Proof of payment of B./250 in favor of National Immigration Service (Servicio Nacional de Migración)
 
In the case of autonomous or freelance workers, they must provide the following documentation:
 
  • Certification or proof of ownership of company, properly registered in their country
  • Notarized sworn declaration that describes the commercial relation with clients that receive their services*
  • Every person that requests the visa must credit their income through a bank certification, as well as properly authenticated bank statements by the issuing bank where there is proof of the transaction of payment of funds and that will accredit that the funds are linked to their work status.

The visa does not allow the beneficiary to act as the representative of the company for local activities, which will lead to the repeal of the visa.

With this initiative, Panama continues to establish itself as ideal place for foreigners wishing to combine work and adventure, encouraging politics that aim to simplify a person’s life.
 
The Panamanian Government will enable an online platform to process applications efficiently for the program that allows a stay of up to 18 months, with an initial period of 9 months extendable for a further 9 months.
 
Sources:
https://mire.gob.pa/ 
panamaliving
 

Ready to do Business in Panama?

Our Panama attorneys law firm offers a Guide to Doing Business in Panama completely FREE! Download here!

Get it now

Pardini & Asociados Image