Residency and Citizenship

Why the friendly nations visa is perfect for businesspeople who want to relocate

10/5/2023 8:00:00 AM
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Every day more and more people decide that moving abroad is the right choice. Immigration is not new; on the contrary, it has been there since the beginning of mankind. In a way, we can say that relocation is a key part of the human essence. 

From ancient times till not such a distant past, people decided to leave their countries for a better future, i.e., to a place where there would be no war, no persecution, or where they would simply have better opportunities.

In our days things are not that different: people who want to start over in a new country are looking for the best place for foreigners.

Why moving abroad is so alluring?

Although necessity may still be the number one motive for moving abroad it's not the only one. The 21st century and its new technologies brought a whole array of new tools that make life quite different. With life, we also mean the way people work.

Thanks to new software, CRM systems, and the development of safer and quicker ways to save data, remote work is becoming more and more popular. What does this mean and how does it relate to the topic of this article? It's clear that when people are trying to find the best place for foreigners the possibility of working remotely becomes an important part of the decision. While before people were tied to a physical office now the world is a different place as it offers a whole set of new possibilities. 

Now moving abroad doesn’t necessarily have to be a decision taken out of necessity but simply it can be with the purpose of finding a better lifestyle or fulfilling a dream. A person can work with clients from New York, Paris, and London, and charge accordingly while living in a low-cost, tax-friendly jurisdiction. In terms of lifestyle, moving abroad can also be tempting especially if one chooses tropical paradises like Granada or charming Pacific islands like Vanuatu.

Nonetheless, if you are bound to find the best place for foreigners, there's an option that is more accessible than Grenada and has better connections than Vanuatu: welcome to Panama.

Best visa for American citizens

For those wondering where can Americans go, Mundo presents a beautiful jurisdiction. Actually, the country in question is among Mundo’s top five places for moving abroad. We're talking about our old friend Panama, a country that's famous for its many charms. It has the best of the Pacific Ocean and the Caribbean Sea, it's home to the Panama Canal, one of the most important waterways in the world, and an epicenter of international trade. But why is this the best visa for Americans? In Mundo, we recommend Americans to take Panama seriously as it has lots to offer. 

If you're looking for a second citizenship and you want to get it fast, then there are better options than Panama, for example, Grenada. Here, with a minimum co-investment of $220,000 you become eligible for citizenship.

However, if residency is okay as a first step or if you're not in a hurry to get a second passport, Panama brings the best visa for American citizens and for other nationalities as well. We're talking about the friendly nations visa, a special program that allows citizens from a list of 50 countries to get a two-year residency. 

How to move to Panama with a friendly nations visa

Moving abroad is much simpler if you do it through a good residency program. In essence, such a program must have two characteristics: simplicity and accessibility. Naturally, it helps if it can help you keep your costs down.

This is why Mundo recommends the best visa for Americans, Canadians, Australians, and members of the European Union. With this option one can get permanent residency in two years and for quite an attractive price: $23,000 (to be paid in this two-year period).

By establishing a company and hiring yourself, as long as you come from any of the friendly nations, you can apply for residency. Thus, the question of how to move to Panama becomes much easier to answer.

After establishing a company and presenting your migration documents to the corresponding office, you'll get a two-year permit which you can later upgrade to become a permanent resident. All you have to do in those two years is to maintain the company and your own work contract in accordance with the law. The rest is simple and, if you wish so, then you'll become a permanent resident and, five years later, a citizen.

The beauty of this offer is the possibility of accessing permanent residency in only two years and for a very interesting price. After all, no country offers this type of flexibility. Even when compared with other programs in Panama, the advantage is huge.

For example, the reforestation visa requires a minimum investment of 100,000, and the real estate option a minimum investment of $300,000 (200,000 if you apply through friendly nations). If you ask us, saving yourself nearly $70,000 is well worth waiting two years and maintaining your own company legally. 

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Why is the friendly nation visa the best visa for Americans, Europeans, Canadians, and other eligible nationalities

The answer is simple: the friendly nations visa offers more straightforward access to Panama residency. Therefore, it's a unique opportunity for those interested in moving abroad. The advantage is that you can access it through no investment whatsoever or through a much lower threshold. Eligibility is assessed according to the applicant's economic ties to the country which can be proven in any of these three ways:

  • Getting hired by a Panamanian company. This is actually the best option as it's the cheapest. However, it's not easy to find a company that would hire a foreigner with the requirements stipulated by the visa. In other words, the contract must be duly registered with the Ministry of Labor and the employer must pay the corresponding social benefits. Naturally, it's very rare that companies decide to make such a move because it requires extra expenses. Most of them are not willing to pay extra for a foreign citizen that they haven’t yet met. 
  • Acquiring real estate. For friendly nations, the minimum is 200,000 which is lower than the qualified investor visa requirement (300,000) but more expensive than through a work contract. 
  • Getting hired by your own company. This option becomes the best one because you establish your own company and then hire yourself 100% legally and according to the local corporate law. The cost is approximately $23,000 within a two-year period. In Mundo’s opinion, this is an amazing deal for those trying to find the best place for foreigners.

Final thoughts 

The question of how to move to Panama becomes much easier, especially if you think about where can Americans go and find a straightforward visa process. The answer is closer than you may think, someplace between the Pacific and the Atlantic, on a charming little island in Las Perlas, in a cottage in San Blas, or in the heart of Panama City. 

If you're interested in moving abroad and if you find in Panama a place that you can call home, get in touch!

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