Business visa
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17 Jun 2019
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Business Visa from Nigeria to Panama
- This is the type of visa issued to Nigerians traveling to Panama for business purposes.
- Because of its geographic location, the Panamanian business and social climate is heavily influenced by North American and Latin American cultures.
- Its diversified economy -- largely focused on banking, trading and tourism -- has increased its role in the global marketplace as much as the Panama Canal facilitates trade and transportation.
- Panamanians highly value education and are enthusiastic about expanding their awareness of international relations and business practices.
- About four (4) categories of visa are available for business travelers to Panama. They are:
a. Inversionista (Investor): A minimum of $160,000 must be invested in setting up a company in Panama with a minimum of five Panamanian employees in its payroll, and $1,050 must be deposited in advance ($800 with the National Immigration Service and $250 with the National Treasury).
b. Permiso Temporal (Temporary Permit): For executives transferred from an overseas office to work in Panama temporarily or technicians working with a company in Panama for a limited time. Executives must prove their income will come from outside of Panama. Foreign technicians shall not exceed 15% of the employees of the company. The visa is valid for one year and is renewable up for six years.
c. Visa Corta Estancia Por Negocios (Short Stay Business Visa): For businesspersons coming to Panama for the purpose of setting up a branch office of a foreign company in Panama. The visa is valid for up to nine months and is nonrenewable.
d. Permiso de Residencia para Nacionales de Paises con relaciones amistosas, económicas y de inversion con la República de Panamá (Friendly Nations Residency Permit). The U.S. is included in the friendly nations list. This residency status is granted to individuals coming to Panama with the purpose of pursuing commercial or professional activities in Panama. Once approved, this permit grants an indefinite residency in Panama. Applicants must show a bank account with approximately $5,000 or more and proof of a commercial or professional activity.
- There are other business related residency permits available, some related to special zones such as the “Panama – Pacific Area”; the “City of Knowledge”; “Export Processing Zones”; and for “Call Centers.”
- If you are employed, you will have to present a certificate from your employer stating or allowing your business travel.
- Proof of sufficient funds to cover the costs of stay (e.g. bank statement for 2 recent months) is required.
- Self-employed people may need to submit proof of business registration. You cannot be gainfully employed while you are in the country with this visa.
- It must be made clear whether your trip will be sponsored by the employer or the local company. Proof of payment of visa application fee should be submitted.
- The embassy/consulate reserves the right to ask for additional documents or personal appearance for an interview in special cases.
- Submission of all the documents does not guarantee that a visa is granted. Submission of incomplete documentation or refusal to appear for a special visa interview will definitely result in the rejection of your visa application.
