I've heard it is not necessary to get residency in Panama first in order to carry out business activities. What visa options are there in such cases?
There are several short-term visas, which may allow you to stay for up to 9 months in Panama, none of them require an actual investment. As for carrying out business activities in Panama, you do not need a residency permit in order to own shares of a Panamanian company, hence, you may be the owner of a business, nevertheless, if you do plan to work in some way or another for such business, you will require a work permit, which must be requested together with a residency permit.
Panama offers temporary and permanent residency options. Most temporary residency options are renewable every 2 years for up to 6 years. Recently, a Digital Nomads Visa was created, which is valid for 9 months only, with option to one renewal. Foreigners with visa waiver can stay in the country as tourists for up to 90 days per trip, with an exception for Americans and Canadians, who are allowed to stay for 180 days per trip.
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