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In this case, proof of income such as the employment wages must be provided by the employer.
Documents proving these activities must be submitted.
Once the application has been approved, the Client / Applicant can apply for a Work Permit.
Panama’s President recently issued a Presidential Decree ordering Panama’s Ministry of Labor to fast track acceptance of work permits for the 50 friendly nation’s citizens.
Please note that Foreigners (non-Panamanian citizens) are prohibited from owning a Panama “Retail” business.
Please note that Foreigners (non-Panamanian citizens) are prohibited from practicing certain professions such as: medical & veterinary doctors, attorneys, architects, and engineers.
In either of the above Options, Proof of Economic Solvency is a requirement.
In other words, the applicant must set up a Panama Corporation and be appointed in the Board of Directors.
This Corporation must be existent until the Residency process is approved.