NewsLetter January

Can you work with a Panama Pensionado Visa? the Answer - Yes!!!

Much has been said on this topic, and we will make some comments about it. Firstly, if you have a pensioner visa and also have the opportunity to work remotely for a foreign company from Panama, you do not need a work permit. The Panamanian government only regulates companies operating within Panamanian territory.

If you are a board member of your own company engaged in business and investments, you can apply for a work permit. Another scenario is when a person makes a substantial investment in a local company. Additionally, if a person provides services to the Panamanian government that are not provided by Panamanians, they can apply for a work permit.

It's important to remember that, as a general rule, a person with a pensioner or retiree visa cannot work in Panama. We've already mentioned the valid exceptions for each case. However, it's important to note that if you are capable of conducting business in Panama and from Panama, there are possibilities to consider.

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What constitute a marriage in Panama? 

Civil marriage in Panama is a legal contract between two individuals who wish to unite their lives. This type of union is governed by the Family Code and begins with the marriage application submitted to the appropriate judge. The parties involved must present their identification documents, along with two witnesses, to initiate the process. It is not necessary to be a resident or citizen of Panama to marry in the country, but it is crucial to comply with certain legal requirements.

To register a marriage abroad, one must follow specific procedures. The couple should contact the Panamanian consulate or embassy in the country where the marriage took place. They will be required to provide the marriage certificate issued by the foreign authorities, duly apostilled or legalized, and translated into Spanish by an official translator if necessary. Additionally, the couple may need to authenticate these documents at the Ministry of Foreign Affairs in Panama.

In addition to civil marriage, Panama recognizes "marriage of fact" . To establish marriage of fact the couples must live together for a certain period (5 years), share financial responsibilities, and present evidence of their union, such as joint property ownership or joint bank accounts. While not as formalized as civil marriage, a common-law marriage in Panama holds legal significance and may require legal procedures to dissolve.

It's important to note that Panama does not currently recognize the validity of same-sex marriages.

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CAF estimates that Panamanian economy will grow 2% in 2024

The bank has between $400 million and $600 million available to finance projects in Panama.

The Panamanian economy will grow this year at a rate of 2%, and Latin America between 1% and 1.5%, according to estimates by the Development Bank of Latin America and the Caribbean (CAF), said Lucia Meza, representative of the organization's office in the country.

He pointed out that the loan portfolio with the country amounts to 2,500 million dollars and that a large part of the projects that have been developed are linked to access to water, sanitation, health, education and infrastructure. He explained that every year, according to the projects presented by the Government.

 CAF in Panama  indicated that this year 2024 that development bank expects to disburse loans to Panama for between $400 and $600 million, which will be focused on the financing of infrastructure projects, energy transformation, sustainable tourism, the development of small and medium-sized enterprises (SMEs) and economic recovery, which should focus on seeking a green impact and helping greater equity in the country.