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Wednesday, October 01 2014 @ 02:16 PM EDT

New Policies at the Immigration Office

Immigration IssuesHere's a heads up regarding new policy changes at Panama's Immigration office. On September 19, 2006 two attorneys from Panama Offshore Legal Services met with the Sub-Director of Immigration. Here are the new changes that Immigration office will be implementing: 1. PENSIONADO VISA: Immigration will now require that the company Pension for Life Letter specifically state what job title or position the applicant held with the company. The Sub-Director also stated that Panama is aware of applicants starting up new corporations which issue a Pension for Life Letter for the applicant. Future regulations will close that loophole. 2. SELF ECONOMIC SOLVENCY VISA: The real property being purchased to satisfy this Visa requirement can no longer have a Mortgage. In other words, you can't put 10% down on a $200,000 property while financing the rest to satisfy this Visa requirement. 3. MARRIED TO A PANAMANIAN VISA: They are being more strict with the interviews for the Married with a panamanian Visa. They are going to do a more thorough research to find out if the applicant is really living with the Panamanian, and are asking very personal questions. (more...)

4. BUSINESS INVESTMENT VISA: For the Business Investment Visa, it is required that the applicant earn a salary in the Company. They will require a high salary. you won't be able to pay yourself a small, token salary.

IN MY OPINION: Panama is starting to tighten up their Immigration laws which will kill the goose which is laying their golden eggs. They are not taking into consideration that the new residents from the USA, Canada, and Europe are persons with sufficient financial means to live comfortably here while contributing to the improvement of Panama's economy.

I wouldn't blame Panama for trying to keep their poorer neighbors from entering and staying here illegally. But, making it more difficult for people with money from residing here doesn't make sense given the amount of available space Panama has.

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Steven Rich is the Marketing Manager for Panama Offshore Legal Services (www.panama-offshore-services.com)

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