Posted by Maria Arias on March 21, 2017 | About Panama | 0

Advantages of Living in Panama

 

Panama is a cosmopolitan city that at the same time can find exuberant nature just minutes from the center. Living in Panama offers a quiet, safe and low-cost lifestyle. It is considered as one of the best destinations to retire in the world.

From the commercial point of view, Panama is the shortest route between the Pacific and the Atlantic making it an obligatory step of global commerce. The Panama Canal was recently expanded and has five ports of world-wide scale. The Colón Free Zone is the largest in the Western Hemisphere and we have the most important banking center in America; with a dollarized economy.

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Panama is one of the countries with a growing economy due to the behavior of diverse economic activities that are linked to the external sector. This has allowed the development of several industries, which offer job opportunities to trained foreigners. Having the papers in order (residence visa and work permit), having the academic credentials and proving work experience are the main requirements to obtain a job. 

Obtaining a work permit is relatively easy. It is a system open to immigration with protections to local labor. Some careers are protected by the system as: medicine, engineering or economics, among others). 

Living in Panama

You can include your family to a visa in Panama, this includes children, spouses and parents. If the children are minors there is no problem, they only need an apostilled birth certificate, but older children between the ages of 18 and 25 must have certificate and must present an enrollment in a university in Panama.

Being retired, you can be a permanent resident in Panama. The basic requirement is that you receive retirement of more than $ 1,000 per month. This visa of retired gives the foreigner the possibility of bringing personal belongings from his or her country; Free of taxes and additionally a number of local "discounts".

By purchasing a property in Panama of more than $ 300.00, which must be in your name, registered in the public registry of Panama and should not be mortgaged, you can apply with your family and you will get a definite residence.

Starting a business in Panama is very simple. You can create a company, and request the commercial operation notice through it. The State reserves the retail trade (restaurants, hairdressers, etc.) to Panamanians and foreigners is allowed to do wholesale business as: industrial, construction and services.

Cost of Living in Panama

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