The following new visas were created based on existing rulings and the approval of new special laws to promote foreign investment:
Multinational Companies Headquarters
Enacted at the end of August 2007, the purpose of this law is to encourage the establishment in Panama of multinational companies headquarters that can offer their services to other companies located outside our country but which are part of their business group and/or certain services to clients abroad. It offers fiscal benefits and a special permanent visa regime of up to five (5) year (without the need of a work permit).
Our firm provides the following:
- Legal advice and filing of petition to obtain a Multinational Companies Headquarters License.
- Visas for executives.
- Legal advice on visas and work permits for dependents.
- Advice regarding tax matters.
Permanent Residency for Specific Countries:
This Residency is granted to executives of a determined nationality and once approved it is given by means of one process. It is a Residency that does not require renewal and upon its approval an indefinite work permit can be requested.
Permanent Residency Agreement Panamá-Italy:
This Residency is granted to nationals of Italy and it is approved by means of one process. It is a Residency that does not require renewal and upon its approval an indefinite work permit can be requested.
Free Zone Visas:
The Free Zone has 10% and 15% general visas, granted through special procedures conducted before the Ministry of Commerce and the Department of Immigration. Call Centers qualify for this type of Visa.
Special Economic Area Panamá-Pacífico:
The former airforce base of Howard has been transformed into a special tax exempted area for companies therein established. The process in this area is more expeditious because it has a special immigration regime which allows to have Immigration and Labor Offices located within the area, authorized to issue visas for periods of three (3) to five (5) years, depending on the category of the visa.
City of Knowledge:
This is another special area created in the former Fort Clayton Army Base, having a tax benefit together with a special immigration regime. It has been structured in accordance to an Agreement entered into by and between the Government of the Republic of Panama and the Foundation of the City of Knowledge to draw the attention of universities, scientific investigation centers, technology and cultural transfers in productive activities, higher education and training center.
In July 2007 came into effect the law promoting the production of films in Panama, which is governed by a special immigration regime for the companies and individuals coming to Panama to perform this activity.