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Why Immigrate to Panama?

Why Immigrate to Panama?

Panama, for a long period, has maintained an attractive migratory reputation for those foreigners who seek a country with a pleasant climate and that allows them to participate in the labor force. For many, moving to Panama is a new phase of their lives, with many moving with commercial goals in mind. In addition to being a great place to live, the region is a key Latin America business hub. Many companies set-up operations in Panama to take advantage of attractive tax regimes, geographic location and access to the Panama Canal. When looking at attractive Latin America countries to immigrate too, Panama ranks as one of the best, along with the likes of Costa Rica, Chile, Peru and Mexico.  In addition to the steps to incorporate a company in Panama, individuals and companies should be aware of the procedure to obtain a visa in Panama. Setting up a business and moving to Panama is accessible with the right support.  Requirements to Immigrate to Panama  Panamanian Visa Authorization can be granted to a foreigner to enter the national territory as a non-resident and for a certain time period. This authorization is requested from their respective countries (at the Consulate of Panama in their home country) or may be requested by a lawyer residing in Panama. The individual must meet all the requirements of the National Migration Authority, and if the visa is approved, the Consulate of Panama is notified in that country so that the visa is stamped in the passport and the person can travel to Panama.  Panamanian Entry  In order to enter Panama, the individual must have a valid...

Essential Guide to Forming / Incorporating a Company in Latin America

Essential Guide to Forming / Incorporating a Company in Latin America

A company formation, also commonly known as a company incorporation or a business registration is simply the establishment of a commercial presence in a new environment through the creation of a legal entity. This local legal entity is then used to conduct business activities. A company formation is the best way to experience the commercial opportunities that a particular jurisdiction has to offer. In Latin America, this is no different. As many foreigns have already experienced, a company formation is a great way to break into your desired Latin America market and begin business operations. There are many advantages to company formation in Latin America, some include:  Gaining access to diverse, unexplored and opportunity-filled markets.Profiting from an increasingly educated, talented and often bi-lingual workforce, and at a much cheaper rate than in North America or Europe. Taking advantage of government incentives, designed to attract foreign investment.  The mission of Biz Latin Hub is simple: we strive to do everything we can to promote a healthy and fruitful relationship between investors and the remarkable, ever-evolving and emerging economies of Latin America. In just over 4 years, we have seen first hand the growing business opportunities developing across the region. In our professional experience, company formations are the most effective way to tap into these unexplored opportunities.  Essential Guide - Why Form / Incorporate a Company in Latin America? A strong trend of GDP growth has swept Latin America. Right now, Latin America is...

How to Register a Company in Panama: Onshore Company Formation

How to Register a Company in Panama: Onshore Company Formation

Biz Latin Hub announced the exciting opening of our new office in Panama last week. The growing importance of the small Central American nation has expanded rapidly in recent years, with major companies such as Sony and Nike attracted by the favourable tax rates and deciding to establish their headquarters for the region in the country. As well as the banking system, and being a globally famous offshore hub, there is a growing tourism and services sector which is providing exciting opportunities for foreign investors. Your next best move might just be to register a company in Panama. Panama is the registered domicile for over 500,000 Panama corporations & foundations, making it the second most popular jurisdiction to incorporate in the world, next to Hong Kong. In terms of key industries, the strategic importance of the Panama Canal, an influential spot for maritime trade, has made Panama a leader in exports to the northern tip of South America whilst also providing crucial access to the Pacific and Atlantic Oceans. The country is tiny, with a population of just over 4 million people, however, in 2016 it exported an impressive US$8.8 billion, with major beneficiaries, of course, being the United States (24%), as well as Venezuela and Ecuador (6.8%), neighbours Guatemala (6.2%) and Japan (4.4%). Major exports include chemical products such as oxygen compounds and sulfonamides (accounting for over 18% of exports), passenger and cargo ships (9.8%) and packaged medication (8.2%). Other exciting business prospects include a growing tourism industry in a...

How US Expats and Medical Tourism are Making the Mexican Medical Economy Boom

How US Expats and Medical Tourism are Making the Mexican Medical Economy Boom

Healthcare services are feeling the effects of globalization. Medical tourism is one of the fastest growing industries in the world today, which is why we are going to examine its impact in Mexico. We are going to see that it is a booming sector for various reasons. As a result of the increase in the sector, there is a full suite of business opportunities for opening up to foreigners investing in Mexico. While a family of five living in the South of England are getting ready for their “booze cruise” weekend out in France to stock up on relatively cheap French wine, Samantha is in San Francisco, California, planning her next trip to Merida, Mexico for an affordable nose job. Healthcare services, henceforth like any other products on the market, are becoming more and more competitive as patients are willing to travel abroad for better treatments and prices. In the whole of the Western Hemisphere, Mexico is the most popular destination for North-Americans who are looking for affordable healthcare. As of last year, more than one million foreigners travelled to Mexico for a large range of medical treatments. As a result, Mexico’s earnings from medical tourism have significantly increased in the past decade, growing from $544 million USD in 2006 to $4.7 billion USD in just 2016. And the trend is only predicted to grow further. Cosmetic surgery, dentistry, heart transplants, orthopaedic surgery, cancer treatments, fertility treatments are all very popular treatments Americans and Canadians travel to Mexico for. Why is there Such a High Demand for Healthcare Services in Mexico...

2017 Immigration Reform in Colombia: How will it affect you?

2017 Immigration Reform in Colombia: How will it affect you?

Travelling, doing business or living in Colombia? You will need the right Colombian visa. In this article, we are going to help you avoid the usual nightmare of visa applications by guiding you through the 3 main visa categories the new migratory regulation offers and we shall have a close look at their characteristics. Who Does the Immigration Reform Affect? Following our previous article regarding the immigration law reform in Chile, we have decided to have a close look at the upcoming immigration reform in Colombia. The reform was passed in August 2017 and is due to be enacted the second (2nd) of November 2017. So whether you’re a tourist, businessman or a keen student, you may want to have a look at these few changes before you plan your trip. The aim of this reform is to make the whole migration process easier and quicker. All the following visas grant multiple entries in Colombia. It is important to note that if your visa was delivered before the enactment of this reform than it will maintain its previous conditions. As soon as it expires, you will be asked to apply for a new visa in line with the new regulation. Regardless of the category of visa you’re applying for, you will need a passport with at least 2 spare visa pages and a remaining validity of at least 180 days. Up until today, there used to be the three following categories of visas: the TP (Temporal) visa, the NE (Negocios) visa, and finally the RE (Residente) visa. The immigration reform has changed these three categories, making it clearer and easier for you to apply. 3 Categories of Visas in Colombia:...

How Will the 2017 Chilean Immigration Law Reform Affect You?

How Will the 2017 Chilean Immigration Law Reform Affect You?

In 2017, a proposed law reform aimed to change requirements to obtain residency in Chile. This law reform was not passed, and the standards to obtain residency are outlined on the Department of Migration website. Whether you’re an expat living in Chile, a businessman working in the city of Santiago or a keen student wanting to study in Latin America, information about visa requirements. On the 21st of August 2017, Chilean President Michelle Bachelet signed the draft of this reform. This was last introduced by the former president Sebastián Piñera in 2013. This reform was not passed, so Chile's residency requirements remain as they were before this reform was proposed. What are the Different Categories of Foreigners in Chile? These are essential as each category has its own policies. The draft law has changed these categories and their titles. If you are a tourist or you will be staying for a short period of time in Chile, you will need the Permiso de Permanencia Transitoria. With this permit, you will be able to stay in Chile up to 90 days. Keep in mind that in some countries Chile requires foreigners to apply for a tourist visa. If you are a long-term student, a worker seeking for a work visa or you’re looking for a temporary visa, you will have to apply for a Residencia Temporal. For those who want to reside in Chile for good, you are required to have a Permiso de Residencia Definitiva, currently called Permanencia Definitiva. Last but not least, this new reform has introduced a new category for diplomats and others employees of the sort, which is called...

How to Invest in Property in Chile

How to Invest in Property in Chile

If you read our article about why you should do business in Chile, and it enticed you enough to decide to take the plunge down south, then our advice about how to invest in property in Chile might be valuable to you! Investing in property in Chile, either for residential or commercial purposes, is a smart decision. Chile’s capital, Santiago is considered the second best city to do business in Latin America. It also reigns as the third Latin American city with better quality of life.  Moreover, it is considered a global city ranked as the 53rd highest-income city in the world, estimated to produce USD 160 billion by 2020. This article will focus on the reasons you should invest in property in Santiago, Chile and how you can do it. We provide a simple guide to how you can buy a house or apartment in one of the most economically stable cities in Latin America: Santiago, Chile. When and How to Invest Property in Chile? Since the tax reform, which imposes a 19% VAT on property sales, came into effect, home sales have plummeted and will continue to drop at a slower rate over the next few years. For investors this means now is the time to buy property in Chile. With an oversupply of real estate projects around Santiago, especially in the most sought after neighborhoods, real estate companies are more likely to give buyers flexible payment plans and/or discounts. Banks will also provide more manageable loans and mortgages. The drop in sales and the change in financing, will cause banks to have fewer operations to finance, which means that although at the beginning of 2017 banks...

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