Compare jurisdictions, side by side.

Romanian residency routes:

• Employment-based residence (including the Blue Card)
• Digital Nomad Visa - remote workers
• Business / investor routes
• Family reunification
• EU citizen-derivative routes

Hong Kong residency routes:

• General Employment Policy (GEP)
• Quality Migrant Admission Scheme (QMAS)
• Top Talent Pass Scheme (TTPS)
• Capital Investment Entrant Scheme (CIES) - recently revived
• Dependant routes

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.

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

SRL (limited liability) is the standard structure. Formation involves notary and trade registry. Microcompany tax regime may apply for small businesses with eligible activities.

Hong Kong Limited companies are widely used for trading and holding structures. Annual filings, audited accounts, and a company secretary are required. Substance expectations and BEPS-driven changes affect ongoing planning.

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.

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.

Personal and corporate banking for residents is broadly accessible. Bordercase coordinates introductions for non-standard cross-border structures.

Local banking has tightened materially; some non-resident structures face long onboarding or rejection. EMIs and Singapore / Dubai banking are common alternatives. Bordercase coordinates introductions through current partners.

Personal banking for residents is straightforward; corporate banking depends on activity and structure. Bordercase coordinates introductions for non-standard cases.

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

Family reunification is supported. International schools (English, French, German) are concentrated in Bucharest, Cluj, and Timișoara.

Family relocation is supported on most residency routes. Schools (local, private, ESF, international) are competitive; international school waitlists are real.

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.

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

Risks Bordercase watches for in Romania:

• Tax residency triggers
• Microcompany regime eligibility
• Processing variations between counties
• Schengen entry / exit rules now apply

Risks Bordercase watches for in Hong Kong:

• Company-only setups without substance face banking and audit friction
• Banking has tightened materially
• Political / policy shifts must be factored into long-horizon planning
• Annual audit and filing discipline is real

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

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

Typical Romanian residency documents:

• Passport
• Criminal record certificate
• Proof of address
• Basis for residence
• Health insurance
• Family certificates

Apostilled and translated to Romanian.

Typical Hong Kong documents:

• Passport
• CV
• Education certificates
• Employment history
• Company documents (where applicable)
• Family certificates with notarisation

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

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.