Country / Territory
Related offices
Companies applying for a Multinational Company (SEM) License – a prerequisite to the SEM visa for multinational company hires – are now subject to relaxed eligibility conditions but stricter documentary requirements, according to an announcement by the Panamanian Ministry of Commerce and Industry.
Relaxed Eligibility Conditions
The corporate group must now have either at least 2,500 employees with at least a Bachelor’s or Master’s degree or PhD, or alternatively must have assets over USD 200 million.
Previously, the corporate group only qualified for an SEM license if it met the minimum asset requirement.
Stricter Documentary Requirements
Companies must now submit the following additional documents when applying for an SEM license:
-
Notarized financial statements;
-
Notarized certificate explaining the corporate structure and the multinational company’s relationship to the Panamanian entity; and
-
Chart showing the corporate relationship between the local entity, the main company headquarters and any company(ies) within the corporate group to which the Panamanian entity will provide services.
The other documentary requirements for an SEM license also remain.
What This Means for Employers and Foreign Nationals
Multinational companies in Panama seeking an SEM license should benefit from the relaxed eligibility conditions and should contact their immigration professional for guidance on meeting the new documentary requirements.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected]
Country / Territory
Related offices
Explore more at Fragomen
Media mentions
Partner Charlotte Slocombe discusses what is considered US residency now that Prince Harry has changed his primary residence from the UK to US.
Media mentions
Director Willys Mac’Olale shares the impact the AfCFTA will have on Kenya’s economy and immigration policies.
Video
Immigration Consultant Laura Varon Osorio explains the process for posting foreign workers to France during the eagerly awaited 2024 Olympic and Paralympic Games in Paris.
Media mentions
Partner Daniel Pierce shares how a Supreme Court visa denial case could impact challenges to employment-based visa denials.
Awards
Partner Kevin Miner is selected by the Daily Report as a finalist in the “Legal Innovators” category of the publication’s 2024 Southeastern Legal Awards.
Blog post
This blog considers how employer sponsorship of long-term residence permits in Europe could be a means for retaining their talent.
Blog post
This blog provides an overview of Switzerland's family reunion process for EU/EFTA nationals and third-country nationals.
Awards
Four Fragomen professionals are recognised in the 2025 edition of The Best Lawyers in Australia in the field of immigration law.
Media mentions
O Diretor de Imigração, Diogo Kloper, compartilha quais indústrias estão recrutando talentos estrangeiros no Brasil.
Blog post
Partner Rahul Soni and Senior Associate Xiaodan (Susan) Song help international commercial enterprise investors make informed decisions by explaining the differences between EB-5 rural projects and high unemployment projects.
Video
Immigration Consultant Azela Hadia discusses how those planning to attend the 2024 Olympics and Paralympics Games in Paris can prepare for their trip from an immigration perspective.
Blog post
This blog provides an overview of immigration programs and relief options by USCIS for Venezuelan nationals amidst the political and economic crisis in Venezuela.
Media mentions
Partner Charlotte Slocombe discusses what is considered US residency now that Prince Harry has changed his primary residence from the UK to US.
Media mentions
Director Willys Mac’Olale shares the impact the AfCFTA will have on Kenya’s economy and immigration policies.
Video
Immigration Consultant Laura Varon Osorio explains the process for posting foreign workers to France during the eagerly awaited 2024 Olympic and Paralympic Games in Paris.
Media mentions
Partner Daniel Pierce shares how a Supreme Court visa denial case could impact challenges to employment-based visa denials.
Awards
Partner Kevin Miner is selected by the Daily Report as a finalist in the “Legal Innovators” category of the publication’s 2024 Southeastern Legal Awards.
Blog post
This blog considers how employer sponsorship of long-term residence permits in Europe could be a means for retaining their talent.
Blog post
This blog provides an overview of Switzerland's family reunion process for EU/EFTA nationals and third-country nationals.
Awards
Four Fragomen professionals are recognised in the 2025 edition of The Best Lawyers in Australia in the field of immigration law.
Media mentions
O Diretor de Imigração, Diogo Kloper, compartilha quais indústrias estão recrutando talentos estrangeiros no Brasil.
Blog post
Partner Rahul Soni and Senior Associate Xiaodan (Susan) Song help international commercial enterprise investors make informed decisions by explaining the differences between EB-5 rural projects and high unemployment projects.
Video
Immigration Consultant Azela Hadia discusses how those planning to attend the 2024 Olympics and Paralympics Games in Paris can prepare for their trip from an immigration perspective.
Blog post
This blog provides an overview of immigration programs and relief options by USCIS for Venezuelan nationals amidst the political and economic crisis in Venezuela.