Residency in Panama: Chicago Expat’s Complete Guide
Panama’s varied charm attracts individuals from Chicago. Its breathtaking natural scenery, vibrant cultural experiences, and high quality of life are some of the key attractions that captivate worldwide interest.
Panama provides a range of permits based on your motives for relocating there. While obtaining residency is not overly difficult, selecting the appropriate permit is crucial. Consulting with experienced attorneys is the best way to ensure that you meet all the requirements accurately.
Varieties of Permits Available in Panama
Among the diverse selection of residency permits offered in Panama, you can discover:
- Investor permit: it is for individuals who own real estate in Panama. It allows you to establish residency in the country for work purposes, real estate investment, or by having a Fixed-Term Deposit.
- Friendly nations permit: foreigners from a specific list of countries have an easier path to residency in Panama.
- Retiree permit: many people choose to retire in Panama. This permit is available to those with a monthly pension or income of $1,000 or more.
- Professional permit: this permit is for foreigners who want to work in Panama due to a shortage of skilled professionals. Ensure your profession is not restricted or reserved for Panamanians before applying.
- Family reunification permit: this permit is for foreigners married to a Panamanian or with Panamanian children or dependents. You must show you have sufficient financial resources to support them.
- Multinational company headquarters permit: this permit is for executives working at a company certified as a Multinational Company Headquarters. It provides tax benefits to those who obtain it.
- Student permit: this permit allows individuals to continue their studies in Panama. Students with this permit can attend public and private institutions approved by the Ministry of Education.
- Technical 15% permit: this permit is for professionals or technicians who want to work for a company in Panama. The company must have a position available for this 15% quota of foreign staff. Your monthly salary must be at least B/.850.
- Foreign 10% permit: this permit is for companies with a position available for a foreign employee within the 10% quota. The monthly salary must be at least $850.
Legal Solutions Panama: seek help from lawyers to obtain your residency permit
Each of these permits has different requirements that applicants must meet. Since Panamanian legislation can change, it’s crucial to consult experienced attorneys who specialize in immigration to ensure you meet all the current criteria. This professional guidance can help you navigate the complexities and secure the appropriate permit.
In this situation, Legal Solutions Panama stands as a law firm with leading experts who can assist you in securing your residency permit if you are from Chicago. Their broad experience in aiding international clients showcases the excellence of their services. You can explore their website to arrange a meeting with one of their specialists and discuss any inquiries you may have. The time to embark on your journey to Panama has arrived.
