According to preliminary data from 2010, more than 12.000 work permits were given to foreigners, including executives of multinational companies or those coming from other places in search of better opportunities.
Angel López Guía, from Martesfinanciero.com, details various procedures, services and decisions which must be made by newcomers, from the opening of bank accounts to buying a home.
"Unlike past decades, aliens entering the country are now here to stay. With this wave of immigration, the local production structure is constantly oiled. Expatriates are here to stay," concludes the article.
Source: martesfinanciero.com
More on this topic
April 2009
Like Miami, Panama is a magnet for Latin Americans and Europeans, who in the past five years have come to the country to invest and work.
An article in Mipunto.com analyzed how the protection of the advantages that Panama offers so that capital and people will come and settle in the country brings tens of thousands of foreigners and hundreds of companies who then decide to stay, attracted by the climate, business environment, agility in starting a business, air transport facilities, and the effervescence caused by the economic expansion of the Canal and the development of the location as a logistics hub.
July 2010
Foreigners who have been in the country for more than two years will be able to legalise their status, subject to paying relevant fees.
The process, called “Panama, Crisol de Razas" (Melting Pot) will begin on 16 July in Atlapa and continue for four months, indicated the director of the country’s Immigration Service (SNM), María Cristina González.
May 2008
Panama's economic boom and political stability is proving a magnet for middle-class immigrants.
The trend can be seen in the large number of foreigners who hold senior positions in companies and of retirees flooding in from overseas, said Raul Moreira, president-elect of Panama's College of Economists.
June 2010
Since 2007 the company has relocated 400 of its executives and their families in Panama.
For this, the company has invested $50 million. These logistics costs might include housing and children tuition, plus other benefits.
“Additionally, these 400 executives from 17 nationalities, most of them Venezuelans, are spending $15 million per year in Panama”, said Antionio Boadas, P&G foreign relations manager for Latin America.
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