What to do after obtaining the Investment Visa in Panama

Once obtained the Investment Visa in Panama, the next natural step is to formalize your legal and fiscal residence. This action not only supports your immigration status, but it also allows you to benefit from the advantages that Panama offers to foreign investors in terms of taxes, lifestyle and legal security.

Legal residency: how is it formalized?

With your visa already approved, you must visit the National Migration Service to withdraw your temporary or permanent resident card, depending on the type of investment made (for example, through real estate or stocks). This document certifies that you are already part of the Panamanian immigration system, which enables you to carry out economic activities legally in the country.

It is also highly recommended to register your residence address in Panama, which can be a temporary lease while you find permanent property. This address will help you to carry out subsequent procedures such as opening bank accounts, tax registration and service contracts.

Establish tax residency in Panama

One of the most attractive aspects of living in Panama as an investor is its territorial tax system: Only income generated within the country is taxed. To officially benefit from this system, it's crucial that you establish your tax residence before the Directorate General of Revenue (DGI).

This is achieved with the following elements:

• Have approved legal residence.
• Spend at least 183 calendar days a year in Panama or demonstrate a center of economic interest.
• Register a tax address and declare your economic or investment activity.

Many people who want moving to Panama in 2025 they do so precisely because of this favorable fiscal structure. However, for Panama to be recognized as your main tax address in international terms, it is recommended to work with tax specialists — especially if you have income or assets outside the country.

Taking the time to properly establish these elements from the start is key not only to complying with local requirements, but to avoiding legal confusion in the future if you maintain global businesses or international corporate structures.

Once your legal and tax residence is formalized, the next step is open a bank account in Panama and register with the national tax authorities. These actions will allow you to operate financially in a transparent way, receive income, pay for services and start managing your new life in the country.

How to open a bank account in Panama for investors

Panama is one of the most recognized financial centers in the region. However, since the adoption of stricter regulations for international compliance, the procedures of Get to know your customer (KYC) may seem demanding. That's why it's important to know right from the start what documents you'll need:

• Current passport with approved investment visa.
• Temporary or permanent resident meat.
• Evidence of the origin of funds (contracts, bank certifications, or investment documents).
• Bank reference and business reference letter (if applicable).
• Proof of address in Panama.

It's key to choose a bank with experience with international clients. Some banks offer accounts for non-residents as an initial step, until your migration is completely complete. A local lawyer or trusted manager can assist you by streamlining processes with banks adapted to the profile of expatriates and investors.

Tax registration with the DGI

If you are going to generate income within Panama (for rents, businesses, consultancies or commerce), you must obtain your RUC (Single Taxpayer Registry) before the General Directorate of Revenue. It's a mandatory step to legally issue invoices and declare taxes when appropriate.

On the other hand, if you have a company or corporation in Panama, it's important to understand how its taxation is structured. Although income earned outside the country is not taxed, you must report local activities when appropriate.

What about the tax benefits?

Panama has several tax benefits for residents and investors What is worth knowing:

• Foreign income is not taxed.
• Tax exemptions in certain real estate projects or free zones.
• Tax incentives for companies that are installed in special regimes (such as the City of Knowledge or logistics areas).

Consulting with a local tax advisor can help you structure your operations as efficiently as possible, complying with formal obligations and taking advantage of all legal advantages.

In short, proper integration into the Panamanian banking and tax system not only gives you financial security, but it also constitutes one of the pillars for successfully adapting to your new life.

After obtaining the Investment Visa in Panama and to move forward with your legal and banking procedures, the next natural step is to define where you will live. One of the most important decisions you'll ever make when Legally move to Panama in 2025 is if you should rent or buy a property. This choice will depend on your objectives, residence horizon and type of investment.

Rental: Flexibility and low commitment

Renting is a great option for new people expatriates in Panama, especially during the first few months. It gives you the opportunity to get to know the city, better understand residential areas and adapt to cost of living in Panama without making a large initial investment.

Among the advantages of renting are:

• Increased flexibility: You can easily change zones if you need to adjust your location.
• Fewer initial requirements: You don't need to make as high an investment of capital as when buying.
• Shorter times: You can move quickly while exploring the real estate market.

Rental contracts in Panama are usually for one year, with the option of renewal. Some landlords require valid immigration documentation and proof of bank income, something you'll already have thanks to your investor status and local accounts.

Buying Property: Investment with Strategic Benefits

On the other hand, if your plan is to settle in the long term or to make your investment profitable, buying a property may be the right option. Panama allows foreigners to purchase real estate without restrictions, which represents a significant advantage for foreign investors.

In 2025, the areas most sought after by those who want to live or invest include:

• Panama City: Ideal for professionals and entrepreneurs, with offers in Punta Pacifica, San Francisco, Obarrio and Costa del Este.
• Coronado and Playa Blanca: Preferred by those looking for a relaxed lifestyle close to the sea.
• Boquete and Volcano: Attract Expats for its cool climate, active community and investment opportunities in tourism.

Buying property has tax benefits if you establish your tax residency in Panama. In addition, certain real estate sectors are promoting incentives for residents with investment visas.

A local lawyer can help you review property documents, verify legal history and carry out a secure transfer process. This is key to avoiding common mistakes faced by those who have just relocated.

In short, both renting and buying have clear advantages. If you are new to Panama, it is advisable to rent first while defining your preferred area and doing a more in-depth financial analysis. If you are already clear about your long-term plans and your investment, buying a home can be a strategic step in consolidating your new life in the country.

Once the legal, banking and real estate issues have been resolved, one of the most important aspects of moving to Panama is to achieve successful integration into the cultural and social environment. Living in Panama isn't just an economic decision; it's also a life experience that involves adapting to new routines, customs, and ways of interacting.

The pace of life and social codes

Panama combines the modernity of its capital with relaxed Caribbean charm. It is common to notice that the daily rhythm may be slower than in countries such as the United States or some European capitals. This translates both into bureaucracy and into everyday services. Practicing patience and maintaining a flexible attitude makes it much easier to adapt.

In terms of social codes, courtesy and respect are essential values. A cordial greeting when entering stores, offices or when discussing issues with neighbors is welcome and expected. In addition, Spanish is the official language and although many people in tourism sectors speak English, learning the basics of the language helps to integrate more deeply and generate personal and professional ties.

Connecting with the local community and expat

Muchos foreign investors that are relocated thanks to their investment visa in Panama discover active expatriate communities in different parts of the country. This greatly facilitates the process of socialization and exchange of practical information, such as medical recommendations, schools, activities or services.

In parallel, participating in local cultural events, fairs, dance classes, cooking or even sports is a great way to immerse yourself in Panamanian traditions. Not only does this improve your life experience, but it can be key to growing your network of personal and business contacts.

Practical Considerations: Health, Transportation, and Education

Adapt to the Life in Panama it also involves knowing basic services. The private health system in Panama City has a high standard, while public clinics may have longer waiting times. Taking out international or local health insurance is advisable for new residents.

Public transport has improved in recent years, especially with the expansion of the metro in the capital. Even so, many prefer to have their own vehicle for greater comfort. In terms of education, Panama has high-quality international schools, which is essential for those arriving with children.

The adjustment process may take time, but it is enriching. Being open to new customs and lifestyles will allow you to fully enjoy advantages of living in Panama for entrepreneurs, families and investors alike.

While each experience is unique, having the right support at this stage can make a difference. From here, we move on to the last key point: the legal support services for those who, like you, are starting a new phase in Panama.

Navigate the process of moving to Panama and set up as foreign investor or expatriate involves strategic legal decisions beyond visa approval. From understanding your tax obligations to investing in real estate or managing corporate structures, reliable legal support isn't just recommended: it's essential to avoid costly mistakes and ensure a smooth transition.

Tax advice and legal compliance in Panama 2025

One of the first challenges after receiving your Investment Visa in Panama is to correctly define your tax residence and comply with the country's tax regulations. Panama offers attractive tax benefits for new residents, but misunderstanding the regulation can lead to sanctions or double taxation.

An attorney specializing in Panamanian tax law can help you:

• Identify if you meet the requirements to be considered a tax resident.
• Correctly register your new address and declare your change of residence to local and international entities.
• Browse double taxation treaties, if they apply in your home country.
• Assist with your first tax return in Panama.

Legal support for real estate and business investment

Whether you're evaluating rent or buy property in Panama, or when planning to incorporate a company, having specific legal advice can make a difference. Property laws, areas restricted to foreigners and due diligence processes require a careful and well-informed approach.

Los local legal services they can help you:

- Review lease or purchase-sale agreements to protect your interests.
- Verify the legal status of the property before investing.
- Establish public limited companies or foundations that optimize your equity scheme.
- Obtain permits or licenses required to operate a local business.

Ongoing migration support and documentation

Even after obtaining your visa, you will have additional administrative steps such as renewing your residence card, updating information before Migration and continuing with family reunification processes if you are traveling with loved ones. A trusted lawyer can help you:

- Visa renewals or change of category in case of new opportunities.
- Visa assistance for your spouse, children or other dependents.
- Official translations, notarization and legalization of foreign documents necessary for Panama.

The added value of personalized legal support

Many new residents underestimate how disconcerting it can be to face legal issues in a different language and legal system. Have a local legal team that speaks your language, understands your objectives such as foreign investor and accompanying you step by step can make a big difference, both in the peace of mind and in the profitability of your move.

In short, the legal support services for expatriates In Panama in 2025 they are much more than a formality: they are an integral part of your long-term success as you adapt to your new Life in Panama, you build your wealth or face personal or professional challenges.