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	Panama Central America & Caribbean	British Virgin Islands Central America & Caribbean	Slovakia Europe
Overview	Panama is a long-established jurisdiction for residency and offshore company structures with a stable USD economy. Bordercase coordinates with licensed Panamanian lawyers and corporate-services partners.	The British Virgin Islands is a long-standing jurisdiction for BVI Business Companies used in international structures. Substance and reporting have tightened materially. Bordercase coordinates with licensed BVI partners.	Slovakia offers EU residency and corporate structures with a stable regulatory environment and competitive costs. Bordercase coordinates with licensed Slovak partners for filings.
Best for	Second residency USD economy Asset planning Holding structures	Holding structures International funds English admin	Founders EU access Cost of living
Currency	USD	USD	EUR
Language	Spanish	English	Slovak
Time zone	UTC-5	UTC-4	UTC+1
EU member	No	No	Yes
Schengen	No	No	Yes
Residency	Panama residency routes: Friendly Nations Visa - now requires economic tie (employment, real estate, or investment) Qualified Investor Visa - qualifying investment thresholds Pensionado / Retiree Visa - qualifying pension income Family routes	BVI presence options: Work permits - employer-sponsored Residency for HNW under specific programmes Limited tourist / business visit arrangements	Slovak residency routes: Employment-based residence Start-up visa - innovative businesses Business / self-employment Family reunification EU citizen-derivative routes
Company setup	Panamanian corporations (SA) and Private Interest Foundations are widely used. Beneficial ownership reporting, CRS / FATCA compliance, and substance discussions have become material; planning must reflect current standards.	BVI Business Companies (BVI BC) are the standard structure. Economic substance applies to relevant activities; UBO reporting is mandatory.	S.R.O. (private limited) is the standard entity, with relatively low minimum capital and well-established formation processes. VAT registration depends on activity.
Banking	Panamanian banking has tightened KYC and source-of-funds requirements. Non-resident applications take time; Bordercase coordinates introductions through current banking partners.	Banking access has tightened materially; EMIs are common supplements. Bordercase coordinates introductions for cross-border cases.	Resident banking is straightforward; corporate banking varies by activity. Bordercase coordinates introductions for cross-border cases.
Family	Family reunification is supported on most residency routes. International schools (English-language and Spanish) are available in Panama City.	Family inclusion follows the main route. International schools are limited.	Family reunification is supported. International schools are available in Bratislava.
Risks	Risks Bordercase watches for in Panama: Reputational / de-banking risks for poorly structured offshore-only setups Tax residency analysis for clients with other obligations (CRS / FATCA) Processing delays at Migration UBO reporting is now active	Risks Bordercase watches for in the BVI: Economic substance reporting UBO disclosure and beneficial ownership reform Reputational handling around offshore structures	Risks Bordercase watches for in Slovakia: Tax residency triggers VAT registration timing for cross-border services Processing variations between districts
Documents	Typical Panama documents: Passport Criminal record certificate (apostilled) Proof of economic tie (employment letter, property deed, or investment evidence) Proof of address Marriage / birth certificates for family All documents apostilled and translated where required.	Typical BVI documents: Passport Source-of-funds evidence KYC for all UBOs Apostilled foreign documents	Typical Slovak residency documents: Passport Criminal record certificate Proof of address Health insurance Employment or business documentation Family certificates with apostille and translation

Panama

Central America & Caribbean

British Virgin Islands

Central America & Caribbean

Slovakia

Europe

Overview

Panama is a long-established jurisdiction for residency and offshore company structures with a stable USD economy. Bordercase coordinates with licensed Panamanian lawyers and corporate-services partners.

The British Virgin Islands is a long-standing jurisdiction for BVI Business Companies used in international structures. Substance and reporting have tightened materially. Bordercase coordinates with licensed BVI partners.

Slovakia offers EU residency and corporate structures with a stable regulatory environment and competitive costs. Bordercase coordinates with licensed Slovak partners for filings.

Best for

Second residency
USD economy
Asset planning
Holding structures

Holding structures
International funds
English admin

Founders
EU access
Cost of living

Currency

USD

EUR

Language

Spanish

English

Slovak

Time zone

UTC-5

UTC-4

UTC+1

EU member

Yes

Schengen

Yes

Residency

Panama residency routes:

Friendly Nations Visa - now requires economic tie (employment, real estate, or investment)
Qualified Investor Visa - qualifying investment thresholds
Pensionado / Retiree Visa - qualifying pension income
Family routes

BVI presence options:

Work permits - employer-sponsored
Residency for HNW under specific programmes
Limited tourist / business visit arrangements

Slovak residency routes:

Employment-based residence
Start-up visa - innovative businesses
Business / self-employment
Family reunification
EU citizen-derivative routes

Company setup

Panamanian corporations (SA) and Private Interest Foundations are widely used. Beneficial ownership reporting, CRS / FATCA compliance, and substance discussions have become material; planning must reflect current standards.

BVI Business Companies (BVI BC) are the standard structure. Economic substance applies to relevant activities; UBO reporting is mandatory.

S.R.O. (private limited) is the standard entity, with relatively low minimum capital and well-established formation processes. VAT registration depends on activity.

Banking

Panamanian banking has tightened KYC and source-of-funds requirements. Non-resident applications take time; Bordercase coordinates introductions through current banking partners.

Banking access has tightened materially; EMIs are common supplements. Bordercase coordinates introductions for cross-border cases.

Resident banking is straightforward; corporate banking varies by activity. Bordercase coordinates introductions for cross-border cases.

Family

Family reunification is supported on most residency routes. International schools (English-language and Spanish) are available in Panama City.

Family inclusion follows the main route. International schools are limited.

Family reunification is supported. International schools are available in Bratislava.

Risks

Risks Bordercase watches for in Panama:

Reputational / de-banking risks for poorly structured offshore-only setups
Tax residency analysis for clients with other obligations (CRS / FATCA)
Processing delays at Migration
UBO reporting is now active

Risks Bordercase watches for in the BVI:

Economic substance reporting
UBO disclosure and beneficial ownership reform
Reputational handling around offshore structures

Risks Bordercase watches for in Slovakia:

Tax residency triggers
VAT registration timing for cross-border services
Processing variations between districts

Documents

Typical Panama documents:

Passport
Criminal record certificate (apostilled)
Proof of economic tie (employment letter, property deed, or investment evidence)
Proof of address
Marriage / birth certificates for family

All documents apostilled and translated where required.

Typical BVI documents:

Passport
Source-of-funds evidence
KYC for all UBOs
Apostilled foreign documents

Typical Slovak residency documents:

Passport
Criminal record certificate
Proof of address
Health insurance
Employment or business documentation
Family certificates with apostille and translation