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Reforestation Investment in Panama for Temporary Residence
Visa Application |
Renewal & Extension
This permit may be requested by those foreigners that invest
(personally or through a corporation) Sixty Thousand Dollars (US$60,000.00) in
reforestation activities or forestry plantations, authorised by the Autoridad
Nacional del Ambiente, which investment shall be made in at least three
(3) hectares of land.
Visa Application
In the case of a corporation, this permit may be requested by up
to two (2) foreigners, as long as they can demonstrate that each one invested
Sixty Thousand Dollars (US$60,000.00). Failure to meet this requirement
shall be grounds for cancelling the application and resulting in being forced to
leave the country.
Where dependents are included, the investment must increase by
Two Thousand Dollars (US$2,000.00) per dependent, which may be justified through
a banking reference.
The applicant shall provide the following
documents:
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General Requirements
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In the case of a corporation, sworn
statement by the Secretary or Treasurer of the Company (which may not be
made by the interested party themselves), which the activities, ownership of
the registered shares in the name of the applicant, duly paid and in
circulation, and the authorised capital are certified.
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Certification from a CPA which details
the total amount invested in the reforestation activity and the total
capital of the investor (the CPA should include a copy of their cedula and
their current card).
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Certified copy of the share certificate
in the name of the forestry investor, duly
authenticated by a Notary Public.
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Copy of the company's tax return, which
the invested capital is shown. If a tax year has not been completed
since the incorporation of the company, the applicant should include a copy
of the registration at the Tax Department and the payment of annual
government fees.
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Copy of the resolution issued by the
National Environmental Authority, of the forestry registration.
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Certificate from the Public Registry of
the company and the property.
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Proof of the investment made directly
into reforestation activity, of at least Sixty Thousand Dollars
(US$60,000.00), which may be demonstrated by the following means:
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Bank certification of the transfer
of the funds or the payment (obligatory) |
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Audited financial statements
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Commercial invoices for purchases
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Documentation that shows import of
merchandise |
In order to apply for renewal, the applicants, in
addition to the requirements mentioned above, shall provide the following
documents:
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Income Tax Certificate of Good Standing;
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Invoices or other documents which
demonstrate the expenses during the previous year in the reforestation
project, or certification of the forestry management company that the
management plan is being completed and that the contract is still in force.
Please note that this Visa, unlike the
Immigration Reforestation Visa, does not lead to Permanent Residence or
Naturalisation.
If you would like more information regarding the Temporary Visa as a Reforestation Investor, please contact Beth Gray, Joan Villanueva or send an
email to immigration@lawyers-abogados.net
Fees &
Costs
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Last modified
17-Jul-2009 11:03 -0400
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