Can I start a family business through Panama’s business investor visa?

I wish to relocate my family from Vietnam to Panama and move my business there. I would easily meet the minimum investment requirement, but am not so sure about the hiring of locals. I would rather hire my siblings and their children, who already work for my company back in our country of origin. Is the business investor visa a possible solution for me? Please advise.

Answers

On May 15, 2019 Marcos Kraemer answered:

The business investor visa requires a minimum investment of $160,000 in a local business, with the condition to have at least five Panamanians in the payroll. This residency takes 3 1/2 years to process through permanent residency, and the business and payroll requirement must be fulfilled during the said timeframe. The available options for you to secure residency in Panama are business investor visa ($160,000), forestry visa ($80,000), solvency visa ($300,000) or private retiree visa ($360,0000).

On May 16, 2019 Natalia Mulford answered:

Please note that the Panama’s business investor visa requires to hire at least five Panamanian full-time. Therefore, you cannot applied for the visa if you don't hire locals. Also, consider that your siblings and their children would need a visa and a work permits in order to work in your business.

On May 16, 2019 Emilio Cornejo Vernaza answered:

The business investor residency program requires not only a minimum investment of $160,000, but also hiring at least five Panamanian citizens. Your children may be included as dependents, but won’t have the opportunity to obtain a work permit under this investor residency program. As for siblings, they cannot be included as dependents under a single residency applications, but there are several options they may apply to, based on particular circumstances. For more detailed information, please contact a license attorney in Panama.

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