Executive Decree 114 of April 4, 2018 suppresses the requirement of visa to enter Panama to those who have a Schengen visa or valid residence of the European Union.
Residents of the European Union or citizens of restricted countries who have a Schengen visa may enter Panama without needing a tourist visa. In the case of those who have a Schengen visa, this must be a multiple visa and have been previously used in the territory of the granting state. Likewise, it must have a minimum validity of one year at the time of entering Panama.
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Executive Decree 114 of April 2018