Panama is making an exit from the offshore banking business. No longer can you open a bank account in Panama and operate it from abroad. Banks now require a physical presence, tax filings, a business license, and an office address in Panama. Panama has been under a lot of international pressure over the last 2
If you’re living in Panama, making multiple visits to the country in a year, or are spending more than 90 days in Panama over a 12 month period, you must get a visa. The government is cracking down on people “living” in the country without a residency permit. Per the U.S. Embassy in Panama: “The
Here’s how to get residency in Panama using your IRA or other US retirement account. If you want to get residency in Panama through investment, you can use your retirement account in one and only one opportunity. First, let me mention the rules in play when you make an investment and get residency in Panama