So far I’ve looked at European destinations in considering options for a longer stay visa. While the night owl in me (read: grouchy in the mornings) loves living in the European time zones, there is an appeal to some options in the Americas. Not only will I be closer to most of my family and friends, but their stronger economic ties to the US mean they typically have more generous visa options for US citizens. Here’s a run-down on one popular options, Panama:
Panama Nomad Visa Eligibility and Requirements
Validity
9 months, extendable for an additional 9 months
Where to Apply & How Long It Takes
Submit application at a Panamanian Embassy or Consulate or if from a visa-free country like the US, can apply. Functionally, you must engage a legal representative, though. See “Other Costs and Requirements” below.
Basic Eligibility
- Work remotely for or own a foreign company or freelance to clients in a foreign country
- Minimum annual income of 36,000 Panamanian Balboan (equivalent to roughly the same in US dollars) from foreign sources
Application Fee
- $250, plus $50 for the residency card once approved
Other Costs and Requirements
- Health certificate
- Police certificate submitted from home country
- Proof of a national health insurance policy
- Letter from your employer, if applicable
- Power of attorney for legal representation related to the visa, which seems to run about $1,500
Taxation
None on the foreign income for the duration of the 9- or 18-month visa.
My Initial Thoughts
This is a lot of work and expense for just 9 months of residency visa when a regular tourist visa in Panama lasts 6 months, and reportedly you can return after a short cooling-off period given that there is not a legal out-of-country requirement between visits. While holding a residential visa has its own benefits over the vagabond approach I’m taking now, both practical and tax-wise, I think the generous US tourist visa means it makes more sense to give Panama living a test-run that way, first.
Where to Find More Information
Keep in mind that these are my own high-level notes on the information I found about obtaining a digital nomad visa in Panama. If you are interested in applying for a digital nomad visa in Panama, I encourage you to do your own research. A good place to start is the official Panama government guidance for their digital nomad visa program, unfortunately only available in Spanish:
Since you will need to engage legal representation to obtain this visa anyway, it may make sense to go directly to a Panamanian immigration attorney for more information.
In my next post, I’ll consider the temporary residency visa available in Mexico. If you’d like to keep learning more about the tax-advantaged, longer-term digital nomad stays I’m considering, make sure to sign up for my newsletter below!
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