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	Spain Europe	Panama Central America & Caribbean
Overview	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.	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.
Best for	Families Remote workers EU access Cost of living	Second residency USD economy Asset planning Holding structures
Currency	EUR	USD
Language	Spanish	Spanish
Time zone	UTC+1	UTC-5
EU member	Yes	No
Schengen	Yes	No
Residency	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
Company setup	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.
Banking	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	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	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
Documents	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.

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