An attorney’s view of immigration, incorporation and investment laws in Panama.

This article is sponsored by the Panama Hotel Veneto Hotel & Casino to facilitate an ongoing dialogue on tourism and immigration.

It is not hard to fall in love with Panama, for its beautiful beaches, its business opportunities or its beautiful and peaceful countryside. For whatever reason, many foreigners analyze the possibility of settling down in our country and there is a way to do it. Moving to a new country can be exciting, but one needs to know all the migratory procedures required.

Many people visit Panama before they make up their minds, so they can start with house hunting, finding schools for their children, investigating business or job opportunities as well as networking in order to start with their new life. For this preliminary step, the foreigners just need their tourist cards with a possible extension for ninety (90) days to continue with the tourism trip or sixty (60) days to complete the required documentation to apply for a residence permit.

Article 14 of the Decree Law 3 of 2008 states that non-resident aliens may opt to change immigration status, after complying with the requirements set out in this Decree Law and its regulations, with the exception of the humanitarian residence permit, student residence permit and other special laws.

This change of immigration status must be done when the tourist visa is still valid. In case that you have not completed the documents required for your resident permit application by this time, you might ask for sixty (60) days visa extension. This must be requested by a legal representative ten working days (10) before the expiration of your previous tourist visa.

It is important to point out that extension of tourist visa procedure implies advance payment of two hundred and fifty dollars (USD 250.00) and a deposit by the sum of five hundred dollars (USD 500.00), both to be paid to the National Immigration Service.

If the residence permit application is submitted in due form and time, the immigration office shall return the deposit (although you never know when exactly you will receive your money back). Otherwise, payments will be confiscated and the alien must leave the country immediately. Do not take changes on staying longer in the country, unless you want to pay an extra fine to leave and going through a bitter moment at the airport.

If you are considering moving to Panama, I strongly recommend you to contact your lawyer in advance, thus you will receive all needed information about documents and formalities that foreigners have to complete in their homelands previously; time frames and any other documents required to submit your residence permit in due form and time.

Please share your experiences on moving to Panama in the comment section below.

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