Can I start a family business through Panama’s business investor visa?

Answers

• 

  Marcos Kraemer

  Kraemer & Kraemer

  May 15, 2019

  The business investor visa requires a minimum investment of $160,000 in a local business, with the condition to have at least five Panamanians in the payroll. This residency takes 3 1/2 years to process through permanent residency, and the business and payroll requirement must be fulfilled during the said timeframe. The available options for you to secure residency in Panama are business investor visa ($160,000), forestry visa ($80,000), solvency visa ($300,000) or private retiree visa ($360,0000).

• 

  Natalia Mulford

  Mulford Abogados

  May 16, 2019

  Please note that the Panama’s business investor visa requires to hire at least five Panamanian full-time. Therefore, you cannot applied for the visa if you don't hire locals. Also, consider that your siblings and their children would need a visa and a work permits in order to work in your business.

• 

  Emilio Cornejo Vernaza

  Panama Global Solutions

  May 16, 2019

  The business investor residency program requires not only a minimum investment of $160,000, but also hiring at least five Panamanian citizens. Your children may be included as dependents, but won’t have the opportunity to obtain a work permit under this investor residency program. As for siblings, they cannot be included as dependents under a single residency applications, but there are several options they may apply to, based on particular circumstances. For more detailed information, please contact a license attorney in Panama.