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Investors & Businesspeople in Panama - Investment in Panama Pacific Zone
(Howard)
Process in a Nutshell
| Requirements: Immigrant Visa
| Requirements:
Permanent Residence
| Fees &
Costs
This requires an investment of $250,000.00 into a company/branch which
operates in the Panama Pacific Zone.
Where the investor has dependents who will also be included in the
application, an additional US$2,000.00 capital per dependent must be invested.
- Register with the Immigration Department
- Incorporate the Company, register with Panama Pacific Zone Agency, get the business license, register with Social
Security and set up the payroll (see
Doing Business in Panama);
- Apply for the Immigrant Visa as an Investor in Panama Pacific Zone;
- Receive your temporary permit for a 3-month period (Provisional Residency Permit) from the
Immigration Department. If you would like to be able to travel out of
the country, you will also need to get the 3-month
Multiple
Entry/Exit Permit;
- Upon approval of your visa, you will be issued a 2-year residency card;
- Before your Provisional Residency Permit expires (at the end of the 2
years), you should
apply for Permanent Residency as an Immigrant Investor;
- You will be granted at this time another temporary permit (3-months) while your
paperwork is reviewed;
- Granting of your Permanent Residency by the Immigration Department, and
issuance of the letter to the Civil Registry authorising the granting of a
Cédula (see explanation regarding cédulas);
- Go to the Civil Registry and get your Cédula;
- After 5 years of Permanent Residence, you will be eligible to apply for
naturalisation and citizenship.
 |
All documents listed in the
general requirements. |
| The following corporate documents:
 |
Certification from the Panama-Pacific Special Agency, certifying:
 |
The location and the company's existence; |
|
That the company is in good standing with the
agency; |
|
That the company is authorised under the
Special regime established in Law 41 of 2004.
|
|
|
Certification of the Secretary or Treasurer of the
Company, which vouches that the shares are issued to the Applicant and that
the shares are fully paid and issued (the shares must have a value of at least
$250,000.00 for the Zone), duly authenticated by the Public Notary. |
|
Copy of the share certificate, both duly authenticated by the Public
Notary. |
|
Certification by the company's CPA, stating that the
shares are issued to the applicant and that they are fully paid and issued
(the shares must have a value of at least $250,000.00 for the
Panama Pacific Zone), duly authenticated
by the Public Notary. Copy of the CPA's cédula and license to practice,
duly authenticated by the Public Notary. |
|
Income Tax Certificate of Good Standing.
|
|
Photocopy of the company's Payroll, as presented to the
Social Security Board, which must have at least three (3) Panamanian Employees
(the last one). |
|
Certificate of Good Standing for the company, issued by
the Social Security Board (which basically states that the Company is up to
date in the payment of its Social Security contributions). |
|
Bank reference letter, certifying that the transfer of
the money from the foreign country belongs to the applicant; |
|
Proof of the investment, which may be shown by two (2) any of the
following documents:
|
Contract for the Sale & Purchase of
real estate or chattels, duly registered with the corresponding entity (Public
Registry or the Municipality); |
|
Commercial Invoices, which must be accompanied by a
detailed inventory, prepared by the company's CPA; |
|
Proof of payment of Customs Duties on imported
goods. |
|
|
Copy of the resolution approving the registration
in the Panama Pacific Zone. |
|
Note: Where the applicant has dependents,
please refer to the information
regarding dependents, on our general requirements page.
In addition to the documents presented above, you must
present:
- Certificate of Good Standing of the applicant - by
the tax authorities
- Expired Provisional Residency Permit
-
Certificate of Good Standing for the Company
Note: Where the applicant has dependents,
please refer to the information
regarding dependents, on our general requirements page.
For more information regarding the Immigrant Investor option
for Panama Pacific Zone,
please do not hesitate to send an
email.
To request an immigration form, please
email
us, or
download a
word document.
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Last modified
05-Aug-2009 10:15 -0400
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