Overview
Created within the Non-Resident category by Executive Decree No. 198 of 7 May 2021, the visa is for foreigners who either hold a contract as an operative of a foreign transnational company or work autonomously in a telework arrangement, whose functions take effect abroad, and whose foreign-source income is at least B/.36,000 a year (the balboa is pegged 1:1 to the US dollar).
Once granted, the visa “gives the right to work remotely within the Republic of Panama” without any additional permit from another state entity.
Editor's note — The decree requires a notarised power of attorney and application, which in practice means filing through a Panamanian lawyer. Budget for legal fees on top of the B/.300 in government charges.
Who is eligible
- Contract as an operative of a foreign transnational company, or self-employed/independent remote worker.
- Functions that take effect outside Panama; no services to Panamanian nationals, residents, tourists or companies.
- Foreign-source annual income of at least B/.36,000 (for employees, a company letter confirming monthly income of at least B/.3,000).
- Medical insurance covering Panama for the full stay, clean criminal record and a health certificate.
- Sworn declaration not to accept work or service offers inside Panama.
Income & financial requirements
Foreign-source; ≈ US$36,000.
Stated in the employer's letter.
To the Servicio Nacional de Migración.
Migratory card on approval.
Employees file a certification that the foreign company exists where it is registered and a letter on company letterhead stating their position, monthly income (not less than B/.3,000), payment frequency, the remote modality and the employer's commitment to repatriation costs. Independent workers instead file proof of their own foreign-registered company and a notarised affidavit describing their clients, services, earnings and payment frequency.
All applicants must show the income is foreign-sourced through a bank certification or authenticated statements from a foreign (or local) bank.
Costs & fees
- B/.250 payment to the Servicio Nacional de Migración and B/.50 for the migratory card.
- Panamanian lawyer's fees for the notarised power of attorney and filing.
- Apostilles/authentication under Article 247 of the Executive Decree, health certificate and medical insurance.
Taxes
Panama taxes on a territorial basis: income from foreign sources is not subject to Panamanian income tax, which is why the visa is attractive to well-paid remote employees. Work that produces effects inside Panama would be Panamanian-source and is in any case prohibited under the visa.
How to apply
Engage a Panamanian lawyer
The notarised power of attorney and application must include your parents' names and nationalities.
Assemble the file
Three photos, authenticated passport copy, criminal record, health certificate, sworn declarations, insurance, employer or own-company documents and bank proof of foreign income.
File with the Servicio Nacional de Migración
Pay B/.250; you receive a temporary card while the visa is processed.
Receive the nine-month visa
Pay B/.50 for the card; the extension is applied for with the same documents.
Duration & renewal
Nine months, extendable once for the same period — eighteen months in total. It is a non-resident visa and does not lead to permanent residence; Panama's Friendly Nations and Qualified Investor visas are the settlement routes.
Bringing family
The decree is drafted for the individual applicant; dependants normally file their own applications or accompany under separate categories. Ask your lawyer about bundling.
Pros & cons
Advantages
- Territorial tax: foreign income untaxed
- US-dollar economy and strong banking
- Visa doubles as work authorisation
- Eighteen months total with one extension
Considerations
- Lawyer-driven process and notarisation
- Non-resident status with no PR path
- No local clients or services allowed
- Health certificate and criminal record required each time