Personnel Hired as Executives for International Companies that carry out their Business abroad

This Visa is for foreigners that enter the country as Executives for Foreign Companies that are properly registered in their country of origin and that have a branch or Affiliate Company in Panama.

This visa is granted for a one (1) year period and can be extended every years up to a maximum of six (6) months.

In order to apply for this visa the following conditions must be met:

• The Company needs to have its parent company duly registered abroad.
• There needs to be a branch in Panama that is duly registered.
• The executive must earn a salary over US$1,000.00.
• The source of the 100% of the salary must come from abroad.

Advantages:

• This Visa is ideal for foreigners that wish to invest in Panama but need time to create their investment or don’t have enough capital to apply for an Investors Visa or for Economic Solvency. You may work legally with out the need to request a work permit with the Ministry for Work and Labor Development.
• The executives that apply for this visa may introduce their spouse and children as their dependents.
• It is exempt from any deposit or migratory rights related to its attainment.

Requirements:

• Police and Criminal Records, issued in the place of residence for the last two (2) years, duly stamped, sealed and authenticated by a Panamanian consulate.
• Original passport valid for at least six (6) months.
• Four (4) carnet size pictures.
• Existence Certification or Mercantile registry of the company in the country of origin. Said document must be duly stamped and authenticated by a Panamanian consulate.
• Letter of employment issued with on a sheet with the letterhead and logo of the company issued by the parent company that will hire him to work as an executive. (Model provided by Delvalle & Delvalle)
• Letter of responsibility issued on a sheet of paper with the letterhead and logo of the company issued by the parent company that the company will hire the executive. (Model provided by Delvalle & Delvalle).
• Existence Certification or Mercantile registry of the company in the country of origin. Said document must be duly stamped and authenticated by a Panamanian consulate.
• Bank reference letter issued by a foreign bank in favor of the Parent Company abroad.
• Certification issued by the Public Registry of Panama, where it verifies the existence of the company in Panama. (As a requirement for this type of Visa, you must have a Corporation duly constituted in Panama; this company will serve as a branch for the Parent Company in Panama).
• Bank reference letter issued by a Local Bank where it states that you possess a Panama bank account and a bank account abroad (in the same country where the parent company is located). This account may be a personal or commercial account.

In case of dependents:

• Marriage and birth certificates for any children under the age of twenty five (25) that depend on the applicant, duly sealed and authenticated by a Panamanian Consulate.
• A letter of responsibility for the dependents. (Model provided by Delvalle & Delvalle)