I've heard Panama now has a new policy for digital nomads. How do I prove that I have met the minimum income threshold given the fact that the nature of remote work is fairly irregular for most people and may have multiple sources of remote income?
The Digital Nomads Visa is valid for nine months and it is renewable for a second period of equal term. All that is needed is a local medical insurance policy, and an affidavit with the work details and incorporation certificate for the foreign company. A minimum annual income of $36,000 is also required to be eligible for this visa, to be accredited with bank statements.
This new digital nomad visa basically allows a foreigner a longer stay than the usual length one may stay as a tourist (nine months versus six), allowing them to work for a foreign company, yet remotely from Panama. Providing proof of an annual income of $36,000 or more is required. Nevertheless, there are other paths that could lead to a permanent residency permit, such as the Friendly Nations Residency program or several other investment options.
As a self-employed worker, you can prove your income by providing a statement of your bank account from abroad, showing the transactions and proving that it is linked to your clients. Also, you must make a statement that describes the business relationship with your clients. Please note that you must prove you receive an income of $36,000 per year or higher.
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