Thursday, November 20, 2008

Special Features: Second Passport Requirements & Benefits

Main Requirements & Benefits
Main Requirement	Set a CD deposit that produce US$ 2,000.00 interests per month. The CD deposit must be at The National Bank of Panama for a minimum period of 5 years Current interests (4%) – Amount required US$ 615,000.00
Profile of visa petitioner	People willing to obtain permanent residence in the Republic of Panama and second passport (before becoming a Panamanian citizen)
Permanence time allowed	Permanent Residence A petition must be filed in order to obtain a 2 years temporary residence On the 2nd year petitioner must file a permanent residence petition
Identification card	Yes
Additional requirements to fulfill	Yes
Government fees	Yes
Permanence residence	Yes
Citizenship	Yes
Dependants	Yes
Benefits	Tax exemption Import of households up to US$ 10,000.00 (only one time) Import of a new vehicle every 2 years Depending upon age and condition, several discounts in many goods and services will apply

Most photos are courtesy of IPAT and Alfredo Maíquez