I would like to apply for permanent residency in Panama through its business investor visa program. I understand that the investment has to create jobs for local people. However, it is not clear to me what kind of jobs are acceptable. Do part-time positions count? Can I hire contractors?
Answers
Indeed, a minimum investment of $160,000 is required. You should set up your own company and hire at least five Panamanian citizens in your company at a minimum wage. All these five employees must be hired full time as such (not as contractors).
Please note that under the business investor visa, you have to create a minimun five full-time jobs for Panamanians. Part time doesn't count, nor do contractors either. It must be a working relationship.
Besides the minimum investment amount, the business investor visa requires the creation of at least 5 jobs, which must be Panamanians on payroll full time with minimum wage.