Relocate & invest in Panama

Hello TeoTeodora and welcome on board Expat.com

While waiting for members to help you out with some advices, I invite you to please read our article : Setting up a business in Panama and to browse through threads in our Formalities section to gather some infos.

Regards
Kenjee
Expat.com team

Many thanks Kenjee,

Really helped putting more light on the business matter and clarifying a few details.

However, I am most interested in finding out what is the legal status that secures me unlimited access in the country + the above mentioned 'facilities'.

I wouldn't want to come, buy, invest and leave the country every 3 months on a tourist visa, with the surprise of being denied the right to re-enter the country at some point.

Could any of you guys please help out?
How was your immigration process?

Thanks a lot!!
Teo

I think you really need to contact the Panamanian Embassy in or near your current location. They would be able to help you better. They may be able to start your paperwork as well.

Right now there are big battles over immigration laws in the government. So I would wait until that gets more defined. I've been here 10 years and still don't have a passport but I have a cedula so we are permanent residents. They screwed me around for 7+ years before they changed the law again and I could get my cedula. But now I still have to wait 5 years for my passport. Immigration here is a major nightmare.  As far as opening a business here that's not really a problem. You can get your permits and license without much red tape to go through. Most of us just form a SA and open a business in that name. Pretty much under the table. If its a public service business, restaurant, bar, transportation etc that will be major problems. Also worker compensation to Social Security is expensive and tons of paperwork. We don't have employees under Social Security. We only use self employed contract workers.

Good Luck.

username609, you have been of immense help! I have also read your replies to other topics and found them very useful, thanks a lot for taking the time to reply to my post as well.

Do you have to renew your cedula now, or is that valid for the next 5 years, until you get your passport?
Also, if you renew it: how often and how much does it cost?

The conflicts over the immigration topic discourage me and I was really afraid of an unfortunate change in the law, like the one you were so unlucky to be caught in. Moreover, we were thinking of establishing our business in the public service area, but that doesn't sound very good in a Panamanian context now - I will definitely read more on employee regulations. - Thanks once again!

Did any of you guys open a business in tourism and could offer more info?

Much appreciated!
Teo

Thanx for ur praise. Cedulas are good for 10 years and renew for 10 years. It costs around $30.00 to renew. It doesn't matter if you have a passport, you still need the cedula. Also, if you get a cedula you need a drivers license. That cost me about $200.oo, Thats a real ripoff!!!

Hope this helps

We are from the US, and I don't know if it would be different for you coming from Romania. Some things depend on what agreements are in place between countries. But, as tourists we opened a bank account. We could have bought property but chose to rent. I know another family (from the US) on tourist visas who have their kids in public school. You can stay in the country for 180 days, but drive for 90 days on a tourist visa, but then you have to leave and get your passport stamped again (check if this applies to Romanians). We did this for two years. Others have done this far longer.

I don't know anything about having a business here except for hearing some frustrations from others. It's a different country with different laws and customs so be sure you fully inform yourself!

We filed our papers for residency in December, and just heard that our residency cards are ready to be picked up so a little over two months. I've heard of others waiting longer, even as much as 6 months so maybe they are getting faster.
Our lawyer kraemerlaw.com/en/  We have been very happy with him!

Hello kristc99,

Thank you for sharing your views and information..

Could you please recommend your lawyer in the Panama business directory so that other members can easily have access to it.

Thank you
Yuveshen

@TeoTeodora 
Belize is maybe the only FREE country left with the the second largest Barrie reef in the word
a tourist destination english, german spanish and other languages are spoken
with commonwealth laws no property taxes and no red tape
very easy immigration with lifetime residency
would be the better choice for you as it's growing in all directions

Panama is over built with crazy traffic and more of a shopping destination
Spanish laws are like flipping a coin

Panama City is overbuilt with crazy traffic. The rest of the country is much more tolerable in that regard.

@purplebox: Many thanks for the reply: brief and clear!