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Provision für Käufer The Republic of Panama seeking to promote the country as destination for remote workers or digital nomads has launched the Executive Decree No. 198 of May 7th, 2021. The executive decree created a short-term visa that grants a provisional residence of nine months to the applicant with a one-time extension of nine additional months. To be eligible for this visa, applicants must prove a minimum yearly income of US$ 36,000. SHORT TERM VISA – REMOTE WORKERS

Provision für Käufer SHORT TERM VISA – REMOTE WORKERS GENERAL REQUIREMENTS • Power of Attorney • Three (3) flesh-size photos • Full copy of the Passport duly registered and Authenticated by a Public Notary • Non-criminal record from the country of origin or residence of applicant • Good health certificate issued in Panama • Affidavit of personal background.

Provision für Käufer SHORT TERM VISA – REMOTE WORKERS GENERAL REQUIREMENTS • Health insurance policy which must include coverage for the period of stay in Panama. • Affidavit of non-acceptance of any work or service offer to carry out business in Panama • Proof of existence of the foreign company in the place where it is registered. • Letter of employment on company letterhead, signed by the legal representative, stating the position and functions exercised by the applicant, monthly income, work modality (remote), and commitment to assume the expenses of return or repatriation to their country of origin in case of being necessary.

Provision für Käufer SHORT TERM VISA – REMOTE WORKERS GENERAL REQUIREMENTS • Bank certification or bank statements that prove the applicant’s income comes from a foreing source. • Payment of US$ 250 in favor of the National Immigration Service. • If the applicant is self-employed, it will be necessary to prove ownership of a company registered outside of Panama and a sworn statement describing the business activity, services, clients, and revenue. All foreing documents must be duly notarized and apostilled.

Provision für Käufer SHORT TERM VISA – REMOTE WORKERS BENEFITS § Panama has a territorial taxation system, meaning only income produce within the country pay taxes. This means, remote workers or freelancers who are elegible for this short term visa are exempt from taxation. § The visa can be extended for an additional term of nine (9) months. § It is not required to obtain a work permit.

CONTACT US Karen Dorcy [email protected] + 49 151 1232 9668

This presentation is intended to be informational. Laws are constantly changing and therefore, before acting on any information, it is recommended seeking the advice of a legal counsel for the most current version of the law. Fischer & Cie. Consulting, Corp. is not responsible for any damages arising for the use of the information before consulting an attorney. 18. August 2022 DISCLAIMER

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OUR SERVICES Provision für Käufer

Provision für Käufer Digital Nomad Forestry Investor Friendly Nations Own Solvency Qualified Investor Work Permission Possible Possible Possible Possible Possible Tax on Foreign Income No No No No No Min. Investment in USD 0,00 100.000,00 200.000,00 300.000,00 500.000,00 – 750.000,00 Asset(s) min. Income of 36.000,00 p.a. Reforest Project Real Estate or Job- Contract Real Estate and/or Bank Deposit Real Estate, Bank Deposit Min. Time Invested Guarantees/Financing No No No No No Government Fees Nat. Treasury Paymt. 0,00 250,00 250,00 5.000,00 Immigr.-Service Paymt. 250,00 800,00 800,00 5.000,00 Provisional Residency Yes Yes Yes Yes No Time to permanent Residence No 2 years 2 years 2 years 30 days Time to Citizenship (after permanent Residence) No 5 years 5 years 5 years 5 years Residency Solutions