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	Panama Central America & Caribbean	Saint Kitts and Nevis Central America & Caribbean	Spain 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.	Saint Kitts and Nevis is a Caribbean jurisdiction with one of the oldest citizenship-by-investment programmes. Bordercase coordinates with authorised local agents and licensed advisers - citizenship outcomes remain at the discretion of the Citizenship by Investment Unit.	Spain offers structured EU residency routes for individuals, families, and entrepreneurs, including the digital nomad visa introduced under the Startups Law. Bordercase coordinates with licensed Spanish partners for filings.
Best for	Second residency USD economy Asset planning Holding structures	Second passport Caribbean residency Asset planning	Families Remote workers EU access Cost of living
Currency	USD	XCD / USD	EUR
Language	Spanish	English	Spanish
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	Saint Kitts and Nevis routes: Citizenship by Investment (CBI) via the Sustainable Growth Fund CBI via approved real-estate investment Standard work / family routes Citizenship outcomes remain at the discretion of the Citizenship by Investment Unit.	Spanish residency routes: Non-Lucrative Visa - passive income, no employment in Spain Digital Nomad Visa - remote workers and self-employed (Startups Law) Self-Employed Visa Entrepreneur Visa EU citizen-derivative routes The Golden Visa has been phased out for real estate purchases.
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.	Nevis IBCs and LLCs are commonly used in international structures. Substance, beneficial ownership disclosure, and AML standards have tightened materially.	SL (Sociedad Limitada) is the standard private company. Registration involves NIE / NIF, notary, mercantile registry, and tax registration. Spanish tax residency triggers worldwide income reporting; the Beckham Law (special tax regime) may apply to eligible relocated workers.
Banking	Panamanian banking has tightened KYC and source-of-funds requirements. Non-resident applications take time; Bordercase coordinates introductions through current banking partners.	Domestic and offshore banking options exist but have become more selective on KYC and source of funds. Bordercase coordinates banking pack preparation and partner introductions.	Personal banking for residents is straightforward; corporate banking depends on activity and structure. Bordercase coordinates introductions for non-standard cases.
Family	Family reunification is supported on most residency routes. International schools (English-language and Spanish) are available in Panama City.	CBI applications can include qualifying dependants - spouse, children, and in some cases parents - under specific conditions.	Family reunification is supported on most residency routes after a qualifying period. Schools (public, private, international) are widely available; the public system is generally accessible to legal residents.
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 Saint Kitts: Programme parameters change Due diligence has tightened materially Rejection rates have risen for incomplete or unclear source-of-funds presentations Visa-revocation and reputational risks if information is misrepresented	Risks Bordercase watches for in Spain: Tax residency triggers - 183 days + centre of interests Beckham Law (special regime) eligibility Autonomous-community tax variation Hacienda audits when planning is unclear Past Schengen overstays must be disclosed
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 CBI documents: Passport Due diligence questionnaires Source-of-funds evidence (extensive) Employment / business documentation Family certificates with apostille and certified translation Police clearance certificates for all countries of residence in the prior 10 years	Typical Spanish residency documents: Passport NIE (foreigner identification number) Criminal record certificate with apostille Proof of income / assets Health insurance with full cover in Spain Accommodation evidence Marriage / birth certificates for family routes

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