Panama: New Migratory Law Does Not Favor Investment

©image: Eylon Israely

The new law, which was approved in February, increased the total of the minimum investment from $40,000 to $160,000.

ADN.es publishes comments by Ramón Arroyave, president of the Union of PyMEs, "we have regressed to being less competitive. Capital is being placed in countries like Costa Rica and El Salvador, which creates sources of employment that could be generated here."

Source: adn.es

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August 2009

New regulations impose more controls on foreign population, with severe fines for illegal aliens.

The new law includes penalties for companies hiring undocumented immigrants and $100 monthly fines for foreigners staying illegally in the country.

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New immigration law for Panama

August 2008

Criticized by those that are affected, the new immigration legislation will regulate the stay of foreigners in the country and modernized laws that date back to 1960.

The new law reorganizes the different types of visas, requirements and penalties (in case of failure to comply) for foreigners that decide to enter and to stay in Panama.

El Salvador: Immigration Law to Include Investor Category

September 2011

The proposed reform will include the category of an investor, not provided for by current law.

A person entering the country as an investor will have a 180 day visa allowing them to explore existing investment opportunities.

The current law, from 1958, refers only to the classifications of tourist, temporary resident and permanent resident.

Taxes Reduced for SMEs in Panama

June 2009

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