People decide to leave our country of origin to settle or reside in another country that offers us better living conditions. Spaniards commonly prefer to settle in Andorra because of the tax benefits it presents, in addition to the fact that it is not so far from their country of origin.
However, Andorra is not the only alternative for Spanish citizens who are looking for a country where they can establish their personal residence and their business operations center. Panama may be a better option if the differences in how to obtain residency in panama than in Andorra.
Advantages of settling in Panama
Panama is not only one of the countries with the best economic growth rate, it also enjoys a strategic and paradisiacal location. This leads you to have a mix of advantages that it offers to benefit entrepreneurs. Next, we share with you the main advantages for which you should settle here.
stable political system
One of the reasons for which Panama is known is for enjoying a fairly healthy and highly stable political system. The government prioritizes public-private partnerships to promote development and investment in the country.
On the other hand, it is one of the Latin American countries that enjoys greater economic security. Its security level is high and it has a low incidence of natural disasters. This makes it an ideal destination to invest and also to live.
Open and secure investment climate
Because the government favors its public-private ties, it is also actively pushing investment-friendly laws; in addition to creating tax incentives. These laws also establish legal certainty to attract more investment from abroad.
Investment is even a modality in How to get residency in Panama. With a minimum investment of 300,000 US dollars.
Strategic location
Panama is an important hub with more than 1,000 international flights a week. This favors companies due to its privileged geographical location, without mentioning the advantage of the maritime connection of the Panama Canal.
Likewise, it is a land where tourism forms an important part of its GDP. Therefore, you will have incredible beaches close to the Caribbean and the Pacific Ocean. Due to its beautiful countries, many retired adults decide to spend the rest of their lives in our tropical lands.
excellent quality of life
Panama City is ranked number 1 in terms of quality of life among Central American countries and fifth in all of Latin America, according to a survey prepared annually by the Mercer company.
This research mainly analyzes the practical aspects of the daily life of citizens. Safety is also a fundamental point when measuring people's quality of life.
Also, it is a nation with a low cost of living compared to other countries. The stability of the US dollar allows you to maintain a favorable lifestyle and is not endangered in the same way as other Latin American countries by the devaluation of their national currency.
get the residence in Panama
if you wonder how to obtain residency in panama, The answer is simple: Spain is part of a list of 50 friendly countries of Panama, which makes any Spanish citizen a candidate for the Permanent Residence Permit by Friendly Countries.
On the other hand, there are also other modalities to access the Panamanian residence, among them we can mention: marriage with a citizen of Panama, by investment or by being a hired employee in the various companies of the Central American territory.
In the event that you are considering residing permanently in Panama through the visa of friendly countries, we advise you to request the advice of immigration lawyer Panama so that the process flows as smoothly as possible. In the same way, we recommend that you have the following on hand:
● Apostilled recent criminal record certificate from your country.
● Have a personal account in a Panamanian bank.
The main advantage that this Central American country has over others is that its production processes how to obtain residency in panama are simpler than those of its neighboring country. It is worth remembering the importance of carrying out the process with a reliable firm such as Panleb to process your residence, otherwise you could run the risk of not obtaining it.
To contact our expert lawyers, all you have to do is call +507 835 5810 or write to WhatsApp +507 6430 7051, where we will gladly guide you through this process that you are about to start in Panama.