Panama Qualified Investor Visa
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The Executive Decree 722 of October 15, 2020, created a new category of permanent residency for economic reasons. Through this program, the applicant can become a permanent resident by making a qualified investment in Panama, including the following options:
- Real Estate: Invest US$300,000 (until October 2024, view related article), or US$500,000 afterwards, free of liens. The investor must hold the property for a term of 5 (five) years.
- Real Estate projects in pre-sale: sign a purchase and sale contract for the sum of US$500,000 or more, free of liens.
- Investment in the Panamanian Stock Market: Purchase securities through a qualified and licensed Panamanian brokerage firm, for US$500,000 or more, for a term of 5 (five) years.
- Fixed term deposit in the Banking Sector: open a time deposit of US$750,000 or more, free of liens, in a qualified Panamanian bank, for a term of 5 (five) years.
- Apostilled or authenticated complete passport copy.
- Apostilled or authenticated National Criminal Background Check- valid for 6 months.
- Five (5) passport-size photos.
- Payment of USD $5,000 to the National Immigration Service.
- Payment of USD $5,000 to the National Treasury.
- In case of dependents 12+ years olds: additional payment of USD $1,000 per dependent to the National Treasury and another payment of US$ 1,000 to the National Immigration Service.
- In case of dependents under 12 years olds: additional payment of USD $1,000 per dependent to the National Treasury.
- Certificate of good health.
- Declaration of personal backgrounds.
- Foreign or Local Bank Certification certifying the funds received or sent, respectively. If the letter is coming from abroad, it has to be authenticated or apostilled.
- Bank statements from the foreign bank, duly legalized, or a local bank, with authentication stamps from the issuing bank, to certify the transaction with the funds sent.
- Notarized letter, issued by the recipient of the funds, or bank certification (original) that confirms the deposit or reception of the transfer, in accordance with any of the investment options described in the law.
- If the application includes dependents:
- Letter of accountability for these dependents.
- Proof of ties between the applicant and each dependent.
- Proof of address – applicant and dependent must live in the same address.
- If the dependent is 18 years old or more, single status and student status certificate.
The process to obtain permanent residency through this program takes around 30 days starting from the day the application is submitted at the Immigration Office. This application can be submitted by a lawyer using an authenticated or apostilled special power of attorney to represent the investor. Once the application is reviewed, the applicant will be considered a permanent resident, but it must be proven annually (in the same period every year) that the investment is still valid.
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If you are interested in this residency program, please Contact Us. Our team will be glad to assist you through the process.