Panama creates Short Stay Visa for Remote Workers
Through Executive Decree No. 198 of May 7th, 2021, Panama creates the Short Stay Visa for Remote Workers.
Aiming to become a popular destination with digital nomads and professionals working remotely, Panama has launched its Short Stay Visa for Remote Workers.
This new visa allows foreign nationals employed by companies operating outside of Panama or who are self-employed, to live and work remotely from Panama for nine months with a one-time extension of nine additional months.
To be eligible for this visa, applicants must have a minimum annual income of US$36,000. In addition, they must prove that their income comes from a source outside of Panama through a bank certification or bank statements.
The requirements to apply for the visa include:
- Completed application form, which includes the commitment of the applicant to assume the costs to return to their home country or destination,
- Three passport photos,
- Certified passport copies,
- Criminal record certification,
- Good health certificate,
- Health insurance policy which must include coverage for the period of stay in Panama,
- Affidavit of personal background,
- Affidavit of non-acceptance of any work or service offer to carry out business in Panama,
- Certification of proof of registration of the foreign company where the applicant is employed,
- Letter of employment stating the position and functions exercised, monthly income, work modality, and commitment to assume the costs of return to their country of origin.
Self-employed applicants must prove ownership of a company registered outside of Panama and a sworn statement describing the business activity, services, clients, and revenue. All documents issued abroad must be apostilled or legalized.
The costs related to the issuance of this visa are:
- US$250.00 for the National Immigration Agency
- US$50.00 for the Visa Card
If you are currently working remotely, eligible according to the requirements, and you are looking for a new destination, take advantage of Panama’s great weather, fantastic beaches, mountains, culture, and, more importantly, world-class telecommunications infrastructure. Panama’s short-stay as remote worker visa could be exactly what you need.
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