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Investors & Businesspeople in Panama - "Personal Income"
Process in a Nutshell
| Requirements: Immigrant Visa
| Requirements:
Permanent Residence
|
Fees and Costs
If you have the available cash to make a term deposit (CD - Certificate of
Deposit) in a local bank for a 3-year period of US$300,000.00, then you will be
eligible to qualify as an investor in Panama with Personal Income ("rentas
propias").
Please note that there are 3 variations of this visa:
- $300,000 in a time deposit in a local bank in Panama;
- $300,000 in a house or apartment in Panama (where you own the house or
apartment in your own name, and can show that you purchased the property for
at least $300,000.00); or
- A mix between a home and time deposit, which together add up to
$300,000.00.
Please note that if you want to include dependents, then your investment must
increase by Two Thousand Dollars ($2,000.00) per dependent.
- Register with the Immigration Department
- Open a term deposit with the local bank of your choice in Panama and
deposit $300,000.00 (or ask about the other alternatives and what paperwork
will be required);
- Apply for the Immigrant Visa as an Investor with Personal Income;
- 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 2-years that your Provisional Residency Permit expires, you should
apply for Permanent Residency as an Immigrant Investor (Personal Income);
- 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.
 | General
requirements which apply to all visas |
|
Letter from the Bank, certifying that you have a term
deposit with them for at least a three-year period and which is a minimum of
US$300,000.00, which must state that the funds received were received from
overseas |
|
Copy of the term deposit contract, certified by the
bank. |
|
Certificate from the Public Registry, showing that you
own the property in your own name (if applicable) |
In order to set up the term deposit, it will be necessary
to open a bank account locally in your personal name. It is not
possible, for this immigration option, to establish a corporate account - the
term deposit must be in your personal name. For information regarding
establishing bank accounts, please see our
resources page, where you will find the general due diligence requirements
that banks require.
We have provided a
summary of fees and costs for this visa application, based on the
Panama Law Society Rates of Minimum Professional Fees for Lawyers
Note: Where the applicant has dependents,
please provide the documents listed under
general requirements for a
dependent.
- All requirements as listed
above
- Certificate of Good Standing issued by the Panamanian Tax Department (DGI).
Note: Where the applicant has dependents, the dependent will
also need to provide all of the documents listed above and the Certificate of
Good Standing issued by the Panamanian Tax Department.
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
24-Jul-2009 10:39 -0400
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