The concept of living tax-free on a yacht while perpetually traveling the world is gaining traction, appealing to those with a passion for nautical life and well-honed boating skills. While the allure of a life at sea is strong, navigating international waters requires meticulous attention to documentation, registration, and passports to avoid complications with port authorities. A strategic approach involves leveraging international business structures and residency programs.
One option involves establishing an anonymous Panama SA company (with bearer shares) to purchase a yacht valued at $150,000 or more. Simultaneously, employing at least three Panamanian nationals at a minimum monthly salary can pave the way for residency in Panama. After three years, you can apply for citizenship and obtain a Panamanian passport. Alternatively, the Small Investor Visa offers a similar path with a $40,000 investment in a fishing or touring boat and the employment of three individuals. This facilitates obtaining a Panama cell phone, mailbox, bank account, debit card, and ATM card, enabling seamless global travel.
Panama offers two investment visa options:
**Investor Visa (Inversionista):** This visa caters to individuals intending to establish a business in Panama (note that specific retail sectors and professions are reserved for Panamanian citizens). Eligibility requires a minimum investment of $150,000 and the employment of at least three permanent Panamanian employees. The visa is initially granted provisionally for one year, followed by permanent status upon renewal, accompanied by a cedula identity card. Five years after acquiring the permanent visa, holders become eligible to apply for Panamanian nationality.
**Small Business Investor Visa (Inversionista de Pequeña Empresa):** This visa is tailored for those aiming to launch a small business in Panama. Similar to the Investor Visa, certain retail sectors and professions are reserved for Panamanians. A minimum investment of $40,000 is required, along with the employment of at least three permanent Panamanian employees. The visa is initially granted provisionally for one year and requires renewal three times before achieving permanent status, including a cedula. After five years with a permanent visa, applicants can pursue Panamanian nationality. While this lifestyle may not be within everyone’s reach, it provides food for thought regarding alternative residency and tax optimization strategies.