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Investors & Businesspeople in Panama - "Personal Income"

All documents issued overseas must be Authenticated before being presented in Panama

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 2-year period of US$200,000.00, 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: 

1. $200,000 in a time deposit in a local bank in Panama;
2. $200,000 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 $200,000.00); or
3. $80,000.00 in a house or apartment in Panama in your own name, PLUS a minimum of $120,000.00 in a time deposit in a local bank in Panama. 

In options 2 and 3 you need to show that you have sufficient independent income to live off, whether investments or other types of income. 

Although interest rates are quite low at the moment in Panama, we do recommend this for those people who have the funds available, as it is a much quicker and less burdensome process than the investment in Micro or Small Enterprise.  This is particularly true for those individuals who do not wish to set up a business in Panama and hire three or more Panamanians to work in the business. 

Process in a Nutshell

1. Register with the Immigration Department
2. Open a term deposit with the local bank of your choice in Panama and deposit $200,000.00 (or ask about the other alternatives and what paperwork will be required);
3. Apply for the Immigrant Visa as an Investor with Personal Income;
4. 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;
5. Before the year of your Provisional Residency Permit expires, you should apply for Permanent Residency as an Immigrant Investor (Personal Income);
6. You will be granted at this time another temporary permit, while your paperwork is reviewed;
7. Granting of your Permanent Residency by the Immigration Department, and issuance of the letter to the Civil Registry authorising the granting of a Cédula;
8. Go to the Civil Registry and get your Cédula;
9. After 5 years of Permanent Residence, you will be eligible to apply for naturalisation and citizenship.

Requirements for the Immigrant Visa as an Investor with Personal Income 

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, the following documents should be included:  

Requirements for applying for Permanent Residence as an Investor with Personal Income

1. Power of Attorney and Application via an attorney/law firm

2. Medical Certificate of Good Health

3. Certification of the full names of the Applicant's parents 

4. Photocopy of the passport page where the applicant's general details and photo appear
5. Four (4) passport-size photos
6. Original passport, which must be valid for at least six (6) months. 
7. Certificate of Good Standing of the applicant - by the tax authorities
8. Letter from the Bank, with certified copy of the term deposit, indicating that the term deposit is valid for at least 12 more months
9. Expired Provisional Residency Permit

Note:  Where the applicant has dependents, the following documents should be included:  

1. 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

2. Medical Certificate of Good Health

3. Certification of the full names of the Applicant's parents 

4. Photocopy of the principal page of the passport, where the dependent's general details are 

5. Four (4) passport size photos for each dependent

6. Original passport, valid for at least six months

7. Certificate of Good Standing from the tax authorities, for each dependent of legal age

8. Expired Provisional Residency Permit of each dependent

9. 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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Last modified 26-Sep-2007 17:37 -0400