Permanent Residence In Panama

Author:Mr Ricardo Cambra La Duke
Profession:CLD Legal
 
FREE EXCERPT

Today the Republic of Panama offers several types of visas that grant temporary, permanent and even short-term residences. Nonetheless, our clients prefer more stable solutions, so they seek to obtain a Visa that grants them permanent residence.

But why Panama? The answer is simple: Panama has it all, warm weather throughout the year, beaches, mountains, good food, great internet and air connection, but above all it has stability, since it is a proud member of a select group of Latin American countries (Chile, Mexico, Brazil and Peru) that have Investment Grade.

In addition to the above, when doing business from Panama, your income is not taxable in Panama, provided that such income comes from a foreign source. What does this mean? This means that Panama has a Tax System that is based on the Territorial Tax Principle. This principle means that only income from Panamanian sources is taxed.

How to become a permanent resident in Panama?

The first step is to ensure that your entry into the country is legal, for this you must have a valid passport for at least 6 months (if you are going to apply for a permanent residence visa), financial solvency, return air ticket and a tourist visa (if required for your country).

The second step is to meet with us to carry out the signing of documents, such as the power of attorney and a background affidavit and also, review the documents that must be submitted to the National Immigration Service and that you have brought with you from abroad, such as the certificate of no criminal record, and if you are applying with your spouse and / or your children, marriage certificate and birth certificate of your children.

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