Panama introduced stricter regulations for employers applying for foreign nationals as International Executive visas to work in the companies Panama branch on June 20 signed by the General Director of Migration.
The new regulations include:
- Raising the minimum salary to $5,000/month from $1,000/month;
- Inspection of the local office by the National Immigration Service before a visa application or renewal is filed;
- Must have certificate issued by the public registry to show the company existed for at least 10 years;
- Proof of two years of financial statements of the local office or Panama branch, accompanied with the visa application
The new regulations make it more difficult for a company to send an applicant abroad to work in Panama as an International Executive. This will also affect visa renewals for foreign nationals that are currently in Panama.
Please note that this is general information only and not intended as advice on a specific matter. Please feel free to contact Fakhoury Global Immigration directly with questions exclusive to your situation. This news alert may have been prepared using information from Peregrine Immigration Management, which is licensed to Fakhoury Global Immigration.