Luring Migration Policy

Panama's migratory flexible regulation is a key factor for attracting multinational companies.

Friday, August 21, 2009

For General Electric (GE), the main motivation for moving its regional corporate headquarters from Costa Rica to Panama was not fiscal incentives, but flexibility in migration regulations.

For a global company, it is indispensable to be able to temporary employ foreign staff, and for Ricaurte Vásquez, GE president & CEO for Central America and the Caribbean, this is more important than tax benefits.

In an interview for newspaper La Estrella, GE's regional CEO points out additional advantages Panama offers: "Connectivity, and not only in communications, but also the posibility of maxing connections to travel to all of Latin America. We have an important gas operation in Trinidad & Tobago, for example, you can travel back and forth to this country. We also have operations in Aruba and the Caribbean islands. We report to Sao Paulo, and there are two daily flights to this city".



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More on this topic

The Debate Over Foreign Workers

February 2015

"... Some of the professions reserved for national citizens are chemical engineering and petrochemicals, careers which are not offered by any university in Panama. "

EDITORIAL

Acting as a backdrop to the contradiction between migrant's human right to work and the need to reserve jobs for nationals, is the upkeep of competitiveness and economic development of each country.

Panama Changes its Immigration Policy

September 2014

An announcement has been made that the next round of issuance of residence permits to foreigners will be the last, in a change to the policy "aimed at strengthening borders to preventing the influx of illegal immigrants."

Panamaamerica.com reports that "On 12 October, on the same day as 'Día de la Hispanidad' Panama will hold for the last time the fair for mass regularization of foreigners, known as the 'Melting Pot'."

Foreigners Immigration Status Regularized in Panama

June 2012

In the ninth round of “Crisol de Razas” (Race Melting Pot) organized by the National Immigration Service (NMS) some 5,300 foreigners have had their immigration status regularized.

Since the beginning of this conference, the NMS has issued some 23,000 temporary permits to foreigners.

Costa Rica Issues Migration Regulations

June 2012

The General Migration and Foreign Affairs Office issued new regulations and guidelines for entry visas.

A press release by Lexincorp Central America reads:

On May, 17th, the highly anticipated Alien Bylaws were finally issued as a complement to the General Migration and Foreign Affairs Law, which is in force since March, 10th 2010.

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