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Investment Proof
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Investors & Businesspeople in Panama - Investment in a "Small"
Enterprise (Macro)
Process in a Nutshell
| Requirements: Immigrant Visa
| Requirements:
Permanent Residence
There are three types of Immigrant Investor Visas; but generally people are
referring to the businessperson who invests US$150,000.01
or more in Panama, through a company, when they refer to the "investor" visa.
The other types are investor are the Micro Enterprise investor (US$40,000.00 - $150,000.00) or
the Personal Income investor (who has a time deposit or CD in the bank of
US$200,000.00 or more).
Resolution number 10-386 of October 31, 2003 (National Immigration and
Naturalisation Department) adopted by the National Director of Immigration and
Naturalisation modified the requirements for this visa. Although I
struggle to understand the logic behind the resolution (some things in this life
are obviously not meant to make sense), at the end of the day the resolution has
the effect of requiring an investment of between US$150,000.01 and
US$1,000,000.00 for Small Enterprise.
Where the investor has dependents who will also be included in the
application, an additional US$4,000.00 capital per dependent must be invested.
It is no longer possible for two or more investors in a company to apply for
residency through the investor visa using the same corporation.
- Register with the Immigration Department
- Incorporate the Company, 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 Small Enterprise;
- Receive your temporary permit for a 3-month period and then pick up your
Immigrant Visa and Immigrant card (Provisional Residency Permit) from the
Immigration Department;
- Before the year of your Provisional Residency Permit expires, you should
apply for Permanent Residency as an Immigrant Investor;
- You will be granted at this time another temporary permit, 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;
- 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.
Note: Where the applicant has dependents, the
following documents should be included:
-
Each dependent of legal age should
issue a Power of Attorney to the lawyer/law firm to represent them; parents
should issue the Power of Attorney for any minor
-
Certified Cheque or Cashier's Cheque
for One Hundred balboas (B/.100.00) to the National Treasury for each
dependent
-
Repatriation Deposit *Not required for dependents under 12
years of age
-
Medical Certificate
of Good Health
-
Police
Certificate of Good Conduct (*Not required for minors)
-
Photocopy of the principal page of the passport, where the
dependent's general details are
-
Four (4) passport size photos for each dependent
-
Original passport, valid for at least six months
-
Certification of the full names of the Applicant's parents
-
Letter of responsibility from the principal applicant for
each of the dependents
-
Evidence of Paternity:
- Power of Attorney and Application via an attorney/law
firm
-
Medical Certificate
of Good Health
-
Certification of the full names of the Applicant's parents
- Photocopy of the passport page where the applicant's general details and
photo appear
- Four (4) passport-size photos
- Original passport, which must be valid for at least six (6) months.
- Sworn Income Tax Return of the company, with the corresponding receipt of
payment (if copies are presented, these must be duly authenticated by the
Ministry of Economy and Finance)
- Photocopy of the company Payroll, as presented to the
Social Security Board, duly authenticated by the Social Security Board, which
must show at least three (3) Panamanian employees. (This must correspond to
no more than 3 months before the date of presentation)
- Certificate of Good Standing issued by the Social
Security Board in favour of the company
- 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, the following documents
should be included:
-
Each dependent of legal age should
issue a Power of Attorney to the lawyer/law firm to represent them; parents
should issue the Power of Attorney for any minor
-
Medical Certificate
of Good Health
-
Certification of the full names of the Applicant's parents
-
Photocopy of the principal page of the passport, where the
dependent's general details are
-
Four (4) passport size photos for each dependent
-
Original passport, valid for at least six months
-
Certificate of Good Standing from the tax authorities, for
each dependent of legal age
-
Expired Provisional Residency Permit of each dependent
-
Letter of responsibility from the principal applicant for
each of the dependents
For more information regarding the Immigrant Investor option,
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
26-Sep-2007 17:37 -0400
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