Panama introduces new remote work visa
In May 2021 Panama introduced a new remote worker visa for foreign nationals who intend to work in Panama remotely for a period of 9 months. The visa can be renewed for a further 9 months and the applicant must meet the same requirements again for the renewal. Individuals who work locally or provide services to Panamanian companies will not be able to apply for this visa. Once the Panama government has approved this visa, further permissions will not be required.
Remote work visa requirements:
- To have an employment contract with a foreign transnational company or be self-employed.
- Receive an annual income of at least USD 36k or equivalent in the individuals respective currency.
- Hold medical insurance.
For digital nomads who are able to work remotely and travel, this is an ideal visa route. Remote worker visas are becoming more popular around the world with many countries introducing similar permits. It is probable that most countries will adopt this approach to strengthen economies by attracting long-stay tourists.
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The information provided does not amount to legal advice.