Residence permit as an investor in Panama
Panama Visa for Qualified Investor
GOLDEN VISA
The Residence permit as an investor is a new immigration category through which the investor receives permanent residence for economic reasons, by making a minimum investment in Panamanian territory.
The process itself takes approximately 30 days from the date of submission of the Investor Visa application. It is important to note that the entire process must be exclusively managed through a lawyer.
Our firm can provide you with the guidance you need to obtain the qualified investor visa for yourself and your dependents!
What are the requirements to obtain the Residence permit as an investor in Panama?
Foreign investors can prove their investment in the country in three ways:
- With the acquisition of real estate: Making a real estate investment for USD 300,000.00 in properties in Panama
- New Rules for Obtaining Residency in Panama by Purchase of Real Estate: On October 15, Panama issued Decree 193 with "New Rules" for Permanent Immigration Residency for the purchase of Real Estate. This new decree includes new features to facilitate the residence of international investors:
1. The investment price is set at $300,000, with no increases.
2. The purchase of real estate through foundations or companies is maintained.
3. The holders of the investments can be couples and dependents. As for the options for investing in real estate, we have:
• Option 1: Direct Purchase. The investor can buy a property directly, with the requirement of being registered in the Public Registry of Panama without financing or mortgages.
• Option 2: Pre-sale purchase with "Payment Letter". The investor can buy the property in "pre-sale", by means of an "Initial Payment", committing to pay the price difference through a "Payment Letter". To do this, the investor must open a bank account in Panama.
• Option 3: Pre-sale purchase with "Trust". Likewise, the investor has the option of buying the property in pre-sale, but using the services of a local trust. - With an investment in the stock market: Minimum investment of USD 500,000.00 in the purchase of securities at an authorized Panamanian securities office.
- With a fixed-term deposit for 5 years: The qualified investor must deposit an amount of USD 750,000.00 (free of encumbrances) in an authorized Panamanian bank.
After choosing the preferred investment method, you must gather the following requirements to apply for the Investor Visa:
- Recent criminal record certificate (apostilled or authenticated).
- Legal representative's application.
- Power of attorney granted by the applicant (notarized).
- 3 passport-sized photos.
- Certificate of good health issued by a Panamanian doctor.
- Proof of payment for USD 5,000.00 in favor of the National Immigration Service.
- Proof of payment for USD 5,000.00 in favor of the National Treasury.
- Certification issued by the Investment Promotion Directorate.
- National or foreign bank certification accrediting the funds sent or received. It is essential that all documents from abroad are authenticated or apostilled.
- Notarial letter issued by the funds recipient or bank certification proving the proper reception of the transfer, according to the investment options stipulated in the law.
In case of having dependents, the applicant must additionally provide:
- Joint Power and Request to the principal (applies to dependents over 18).
- Proof of kinship, either through a marriage or birth certificate.
- Notarized Letter of Responsibility.
- Authorization Letter (in cases where only one parent makes the presentation).
- Payment of US$ 1,000.00 in favor of the National Treasury (per dependent).
- Payment of US$ 1,000.00 in favor of the National Immigration Service (per dependent).
- Dependent children aged between 18 and 25 must present two additional requirements:
- Certification from an educational institution stating their full-time student status;
- Sworn declaration of single status before a Notary Public of the Republic of Panama.
What is the process for applying for a Residence permit as an investor in Panama?
The qualified investor visa is the most practical and effective way to obtain permanent residence in the country and even be eligible to apply for citizenship in the future. The application process is carried out through the Immigration Office in person or through a duly authorized lawyer. The visa process takes no more than 30 days in total, after which you will be considered a permanent resident in Panama thanks to the foreign investment contributed.
It is important to reside in the country or return to Panama at least once every 2 years to keep your residence permit and Investor Visa valid.
Decide the future of your investment today!
Contact us for personalized guidance and to evaluate the options for obtaining your Qualified Investor Visa.
Types of Available Investment Options
Real Estate Investment
Investing in real estate in Panama can be an excellent option for investors seeking high long-term returns. In these cases, the investment must be substantiated by the following documents:
- Certification from the Public Registry of Panama endorsing property ownership.
- Certification from the National Land Titling Authority endorsing the value of the real estate.
Real Estate Investment through a Promise of Sale Contract
Real estate investment through a promise of sale contract involves committing to purchase a property in the future at an agreed price. This type of investment allows buyers to secure a property before the final transaction is completed, providing them with the opportunity to reap potential benefits as the property value increases. To opt for this investment category, the following must be submitted:
- Duly authenticated copy of the promise of sale contract for the real estate registered with the Public Registry.
- Original or duly authenticated copy of the trust agreement detailing the total amount allocated in the trust and the partial payments associated with the obligations assumed by the settlor following the promise of sale previously entered into with the real estate company.
Investments made through a Securities House with an approved license from the Superintendence of the Securities Market of Panama
Investments made through Securities Houses involve participating in the Panamanian stock market through authorized intermediaries. To qualify for this option, the investor must provide:
- Certification issued by the Securities House clearly indicating: investor's name, amount of the investment, description of the securities held, and entity safeguarding the securities.
- Duly authenticated copy of the resolution granted by the entity (Securities House license) issued by the Superintendence of the Securities Market, certifying that the applicant maintains the investment account.
- Certification issued by the Superintendence of the Securities Market related to the registration of the securities corresponding to the investment in question.
Fixed-Term Deposit Investment through the Banking Sector
Investing in fixed-term deposits through the banking sector involves depositing money with a banking institution for a specified period of time, aiming to earn profits through fixed interests. Applicants for this type of investment must submit:
- Duly authenticated copy of the issuing bank responsible for the fixed-term deposit, indicating: account holder's name, total deposit value, and validity period of the document.
- Banking certification confirming the existence of the deposit (holder, value, and term). It must also state that the deposit is free of encumbrances and that the deposited funds come from foreign sources.
The investor can prove that the funds used for the investment come from abroad through:
- Letter from a national or foreign bank endorsing the fund transfer. Documents issued abroad must be apostilled or authenticated by the Panamanian consulate in the country of origin.
- Original statement from the foreign issuing bank (stamped and legalized).
- Notarized letter referred by the funds recipient; alternatively, original bank certificate endorsing the deposit or transfer of funds from a foreign source.
Why Invest in Panama?
Panama offers several attractive benefits for those who decide to invest legally in the country. Some of these benefits include:
Tax Benefits
Panama offers tax benefits to investors, which may include tax exemptions or reductions for establishing businesses or investing in the country.
Customs Benefits
Panama’s strategic location and significant trade channel allow access to customs benefits, such as exemptions from import and export taxes on goods.
Labor Benefits
Panama provides a favorable work environment for investors, including the availability of skilled labor and competitive labor costs.
Migration Benefits
Panama has favorable migration policies for foreign investors, offering the possibility of obtaining residence or citizenship through investment.
Investment Opportunities
The country offers investment opportunities in sectors such as real estate, tourism, logistics, and financial services, which can provide high returns and growth potential for investors.
Economic and Political Stability
Panama has maintained a stable economy and a favorable political environment for investment. This provides confidence and security for investors, reducing the risks associated with economic and political volatility.
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Investing in government-certified reforestation projects offers a variety of benefits, including:
- Environmental Contribution: Investors play a crucial role in preserving biodiversity, fighting climate change and mitigating deforestation, thus having a positive impact on the environment.
- Financial Incentives: From a financial perspective, government-certified reforestation projects often come with a variety of tax incentives and benefits, enhancing the overall attractiveness of these investments. Furthermore, the long-term potential for timber production and the generation of carbon credits adds a dimension of sustainable profitability to these projects, aligning environmental management with financial gains.
- Social Impact: Investing in reforestation projects can create employment opportunities, support local economic development and improve community relations, contributing to a positive social impact.
- Access to Financial Mechanisms: Investors can gain access to government grants, subsidies and other financial incentives, reducing the financial burden associated with reforestation initiatives and amplifying the overall return on investment.
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