Blog · 2024-08-03

Relocation news digest - August 3, 2024

🇵🇦 Panama: authorities scrap the simplified route to the SEM visa

On 23 July 2024 the government of Panama ended the COVID-19 state of emergency. As a result, it has withdrawn the concession that allowed foreign nationals seeking a SEM visa to register with the immigration authorities from abroad, as an exception, and to apply for the visa without submitting the required medical certificates, insurance policy and proof of residence in Panama.

From now on, every foreign national and their dependants who want a SEM visa must register in person with the National Immigration Service, obtain a Panamanian medical certificate and take out an insurance policy in Panama before filing their SEM visa application.

🇺🇸 United States: environmental specialists gain a work-visa route

The US Department of Homeland Security has added another field to the list of academic degrees eligible for the F-1 STEM Optional Practical Training (OPT) programme.

The STEM OPT programme, which lets F-1 students holding a qualifying STEM degree obtain work authorisation for up to 36 months, is being expanded. As of 23 July it now includes the following field:

Environmental and natural resource economics (CIP 03.0204).

🇻🇪 Venezuela: protests erupt after the presidential election

Venezuela held its election on 28 July, and on 29 July incumbent president Nicolás Maduro was declared the winner.

Mass protests have broken out across the country. Opposition supporters, who insist the vote was rigged, have taken to the streets. Police are dispersing the demonstrators, and there have been injuries.

Nine Latin American countries, including Argentina, Panama, Peru and Ecuador, are demanding a review of the election results.

🇭🇺 Hungary: entry rules eased for Russian and Belarusian citizens

Russian and Belarusian citizens have now been added to the "national card" programme (a type of Hungarian residence permit) that allows the holder to take up employment and bring their family. Previously the scheme was open only to citizens of Serbia and Ukraine.

The national card is issued for two years and can be renewed an unlimited number of times. After three years of residence, the holder may apply for permanent residency.

🇨🇳 China: 80% of yuan payments are being sent back to Russia

Direct transfers are becoming increasingly difficult, forcing clients to turn to intermediaries and factor extra fees into their transactions. Market participants now count the risks in cross-border settlements among the most acute they face.

🇰🇿 Kazakhstan: applications for work permits open in August

From 1 August 2024, several regions of Kazakhstan (including the capital, Astana) will begin accepting applications for quotas under the 2025 programme for attracting foreign specialists. The deadline for applications is 1 October 2024.

The purpose of the quota is to let companies sponsor work permits for foreign employees in the specific region where those staff will carry out their work.

🌍 Latin America: application delays amid the situation in Venezuela

The Venezuelan government has expelled its diplomats and consuls from Argentina, Chile, Costa Rica, the Dominican Republic, Panama, Peru and Uruguay. As a result, anyone who has filed applications with Venezuelan consular offices in these countries, or with these countries' consular offices in Venezuela, should expect processing delays.

🇷🇺 Russia: Raiffeisen Bank plans to sell 60% of its Russian business

Johann Strobl, chief executive of Austria's Raiffeisen Bank International (RBI), has called the sale of 60% of the bank's Russian business the most likely scenario.

🇵🇹 Portugal: authorities may grant residence permits for bitcoin

Portugal may launch a new "golden visa" programme granted in exchange for bitcoin (with a suggested minimum of €500,000 in the Unbound Fund), according to the fund's chief executive.

🇷🇺 Russia: authorities want to strip acquired citizenship over failure to register for military service

Under a bill that has been introduced, the processes of registering a citizen for military service and granting them Russian citizenship would be synchronised. This information would have to be submitted electronically to Russia's Interior Ministry. If a person who has obtained citizenship fails to register, that would become grounds for terminating the citizenship.

🇪🇪 Estonia: full customs control to be introduced at the Russian border

From 8 August, Estonia will introduce full customs control at its border with Russia. At present, checks are carried out on a selective basis.

🇷🇺 Russia: Interactive Brokers restricts account funding for Russians

The broker has imposed restrictions on funding accounts in 12 currencies, including the Chinese yuan, the Turkish lira, the Swiss franc and other European currencies. Clients can withdraw funds from their accounts until 30 August.

🇺🇸 United States: authorisation for transactions with the Moscow Exchange extended

The US Treasury has extended, until 12 October, the authorisation for transactions with the Moscow Exchange, the National Settlement Depository (NSD) and the National Clearing Centre (NCC) of Russia.

🇷🇺 Russia: lawmakers want to prosecute Russians who have left the country

A bill submitted to the State Duma would make it possible to prosecute Russian citizens who are abroad.

The initiative's authors propose amending Article 458 of the Code of Criminal Procedure, which in its current form gives the Prosecutor General's Office the right to hand a criminal case over to another country if a foreigner who committed a crime has left Russia.

The bill provides for prosecuting Russian citizens who are trying to avoid punishment and have left the country for that purpose.

FAQ

How do you get residency in Panama?

Panama offers several tracks: the friendly nations visa, the pensionado retirement visa, investor categories, work permits, and the SEM visa for staff of multinational regional headquarters. Since the pandemic era concessions ended, applicants again have to register in person with the immigration service, obtain a Panamanian medical certificate and buy a local insurance policy before filing. Requirements and country lists get revised periodically, so build your package under current rules and with a local lawyer.

Do you need a medical certificate for a residence permit?

In many countries yes, and it often has to be a local medical certificate from a doctor in the host country rather than one from home. The same goes for insurance, which frequently must come from a local insurer. In practice that means part of the process has to happen physically on the ground, and remote filing from abroad will not work, since most of the pandemic era concessions have been withdrawn.

How long can you work in the US after graduating?

F-1 graduates normally get about a year of OPT work authorisation, and those who finished a program on the STEM list can extend it to roughly 36 months in total. Eligibility is decided by the classification code on your degree, not by how technical the job sounds. The STEM list is expanded from time to time, so check the current version against your program's code.

What is STEM OPT?

It is the extension of OPT work authorisation for graduates of US programs whose degree appears on the STEM list maintained by the Department of Homeland Security. The usual conditions are that your degree matches a listed code, the employer is enrolled in E-Verify, and both sides complete a formal training plan. The list gets updated with new fields, so verify your program code against the latest version.

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