World famous for its Panama Canal, which is considered a modern engineering miracle. But that’s definitely not the only great thing about this Central American country. Many tourists and immigrants have already made their way to Panama and feel home among the tropical rainforests, beaches, small villages and big metropolises.
Those living in Panama enjoy an environment that is rarely affected by tropical storms and hurricanes due to its location just outside the hurricane alley. Spanish is the official language, but many speak English especially in bigger cities. The country is also famous for its coffee. Some of the world’s best coffee comes from Panama and is sold around the world at discerning coffee shops.
The Panama Canal is incredibly important for the country as it generates a third of the economic activity and offers many employment opportunities. The country’s economy as a whole is stable and fast growing and there is a good investment climate. Unemployment numbers are low and have been stable for years.
Business in Panama begins with small talk and it’s important to be on time. Family, sports and culture are good topics to discuss; politics and religion are best to be avoided. Dress conservatively and formally and when a deal is closed, it is common for the host to take foreign guests out for dinner.
Here are some of the ways to live in Panama:
This visa was introduced to Panama in 2012. Foreigners from 47 Nations (click here for the full list) can qualify for permanent residency along with a work permit. It is quite easy to qualify. You need to deposit USD $5,000 into a local bank account plus USD$2,000 for each dependent. You also need to have professional ties to the country which could be either starting a new business, purchasing an existing business, or being hired in a professional capacity by a Panama company. In fact you could qualify by setting up an offshore company in Panama. If you are self employed, having your company setup in Panama is not a bad option. After 5 years you can apply for Panamanian citizenship and a passport.
Through your Family:
Here are some of the ways to get citizenship in Panama:
Through your Family:
The passport for Panama allows you to travel to 122 countries without a visa.
Its global rank is 71.