Special Features: Large Investor's Visa and Residence
By means of Law Decree 3 of 22nd February, 2008 and Executive Decree 320 of August 8th, 2008, the Panamanian government approved new migratory regulations that will be in force as of August 26th, 2008. These regulations modify existent visa programs and create new programs in accordance to existent economic and political situation of Panama.
According to these new regulations, the main requirements of the Large Investor Visa program are as follows:
- Required Investment of US$ 160,000.00 through a Panamanian corporation
- If petitioner includes dependants to its application, it must increase the amount of investment to US$ 2,000.00 per dependant (for example, showing that you have that amount in a personal bank account in Panama will suffice)
- Type of investment: all, excluding activities restricted by Panamanian constitution
- Company must be registered at the Social security program
- Panamanian employees as minimum
- Investments funds must come from abroad
This residence status is ideal for persons interested in Living in Panama and requires that the applicant establishes a proven investment for at least US$150,001.00 in Panama.
This immigration program includes applicant, spouse and children under 18.
Once the visa petition is filed, a provisional residence permit, valid for a period of 2 years is granted to the applicants. At the end of the 2 years period, a permanent residence petition must be filed. The permanet residence permit grants the applicant a Panamanian Identification Card and the right to apply for Panamanian Nationality after 5 years.
Other Requirements to Obtain an Large Investor’s Visa and Residence in Panama
In order to obtain an Investor’s Visa, the following documents are required:
- Sworn declaration
- Police record form the country where the applicant and wife resided for the last two (2) years. Persons under 18 years of age are exempt from this requirement
- Four (4) photographs, passport size of each of the members of the family (male applicant must be shown wearing coat and tie)
- Good health certificate issued by a local doctor for each member of the family and AIDS test result
- Certified check to the order of "TESORO NACIONAL" of US$100.00 for each member of the family regardless of age
- Signature of a power of attorney in favour of a qualified Panama law firm, addressed to the Ministry of Government and Justice. We will supply you the form
- Letter from the company's accountant attesting about the investment of the applicant. The investment must be higher than US$160,000.00.
- Letter from either the Secretary or Treasurer of the company certifying the investment
- Valid Passports
- Police record issued in the Republic of Panama for applicant and wife
- Certification of the Public Registry that credit the following:
- Purpose of the Corporation
- Capital
- Investors’ appointment as Director of the corporation
- Copy of the Social Security Payroll certifying that the company is operating
- Declaration before a Notary certifying the investment
- Employer’s Social Security payroll (minimum 3 Panamanian)
- Social Security Good-Standing Certificate
- First tax return
- Letter stating parents names
- Business: lease agreement or property title deeds and public services bills
If the applicant for the visa is married and has family, he must obtain and submit the following additional documents:
- Marriage certificate
- Birth certificate of each child, if any
- Responsibility letter
All documents issued outside of the Republic of Panama must be duly legalized by the
Panamanian Consul nearest to their place of issuance.
We only need passports at the moment of filing the documents at the Immigration Office.
| Comparison of Permanent Residence Programs | ||
|---|---|---|
| Visa Program | Basic Requirement |
Benefits |
| 2nd Passport | Open a CD deposit that produce US$ 2,000.00 interests per month. |
|
| The CD deposit must be opened at The National Bank of Panama for a minimum period of 5 years | ||
| Current Interest rate for 5 years: 4% | ||
| Self Sufficient Funds | Option 1: Open a CD deposit of US$ 300,000.00 for 3 years in a Panamanian Bank |
|
| Option 2: Real Estate investment of US$ 300,000.00 (if property value is higher than 300K, petitioner is entitle to obtain a mortgage for the remaining amount) | ||
| Option 3:Mix investment: CD deposit and Real estate investment is allowed as long they reach the amount of US$300K | ||
| Pensionado | Letter from a government pension entity, private pension administration, mutual funds administration stating that the petitioner receives a monthly pension of US$ 1,000.00 for life |
|
| If petitioner purchase a Real estate property of US$ 100,000.00 or more , the pension could be of US 750.00 | ||
| The combine pension of a marriage can be presented as long as they comply with the minimum amount of US$ 1,000.00 | ||
| If the pension is paid by a private entity, the petitioner must furnished a letter from the mutual administration, pension funds administration stating that the pension are going to be paid for life | ||
| Reforestation | Investment of US$ 80,000.00 or more on his name or through a Panamanian corporation in a reforestation field |
|
| Large Investor | Required Investment of US$ 160,000.00 through a Panamanian corporation |
|
| Type of investment: all, excluding activities restricted by Panamanian constitution | ||
| Company must be registered at the Social security program | ||
| 5 Panamanian employees as minimum | ||
The Business Panama Group offers you a Complete Investor Residence Solution by providing you with the following services:
- All Legal and other services for representing you before Panamanian immigration and other authorities and preparing and filing all documents
- Incorporation of the company
- Buying a property or starting a business
- Relocation to Panama
For more information, please click here to contact us
