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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Introduction – A few months ago the Panama Legislature reduced the term of the tourist visa from 90 days to 30 days. There has been some backlash to this from people living here and from abroad. The change did not affect most people coming in from Europe. The complaints were basically that 30 days is not enough time to get a place to live lined up, close escrow and move in. Since Panama has a lot of real estate being built it is logical to assume that these protestations were listened to hard by the real estate developers. The real estate developers being wealthy and influential exerted all the political clout they could muster to increase the comfort level of the foreigner seeking to relocate to Panama.
Follow Up – What we are starting to see is people entering the country from the USA and Canada and presently getting 90-day visas again. Some people have commented that they asked for the 90 days and got it. Other say they just got the 90 days without asking for it. We have also seen people get the 30-day visa as well.
Conclusion – We are not entirely clear as to what is going on but we are watching closely. This is probably an indication that the visa law for tourists will soon revert back to the 90 day visa but we have to wait and watch.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
