The Panama Reforestation Visa allows investors to obtain permanent residency in Panama, as long as they make the proper investment in an approved reforestation project regulated by the Ministry of Environment of the Republic of Panama.
Panama offers two different processes to obtain residency for people who invest in a reforestation project, an Express Process and a Regular Process.
Express Process
Foreigners, in their personal capacity or through a legal entity, who make the appropriate investment will be automatically eligible for permanent residence.
In order to keep the permanent residence, the investment must be maintained for a minimum period of 5 years.
Applicants who seek to obtain permanent residency in Panama through the regular reforestation visa program must invest USD $100,000, utilized as follows:
$90,000 for the land. The area depends on the project of your choice from our list of partners.
$10,000 for maintenance, and management for a period of up to 8 years (see application process)
Following Executive Order # 320 from August 8, 2008, if the investor plans to include his dependents (e.g. family) in the application, he must increase the investment by $2,000 for each dependent.
You can also use a Corporation or a Company as an investment vehicle. In that case, the residency application can include any number of applicants as long as each applicant invests USD $100,000 in a reforestation project.
This immigration program first grants a 2-year provisional residency permit, prior to applying for and obtaining the permanent residency permit. In general, it takes 3 years to obtain permanent residency based on these steps:
The process begins by submitting the initial application at the immigration office (refer to the application requirements below).
When the initial application is accepted at the immigration office, the applicant receives a temporary residency permit.
The immigration office usually takes 6 months (sometimes less) to resolve this initial application.
Once the initial application is approved, the immigration office issues a provisional residency permit.
The provisional residency permit is valid for 2 years. Afterward, the holder may apply for permanent residency.
The immigration office usually takes 6 months (sometimes less) to resolve the application for permanent residency.
Once the application is approved, the provisional residency permit is replaced with a permanent residency permit.
Following existing laws, the permanent resident must hold the investment on the reforestation project for at least 5 years once permanent residency is approved.
During these 5 years, after permanent residency is granted, the permanent resident must submit yearly documentation to the immigration office proving he still holds the reforestation project under his name.
For this reason, the applicant needs to budget and consider maintenance and administration expenses for the reforestation project for at least 8 years.
Provisional Residency Requirements
The following documentation is required for the initial application to obtain Provisional Residency:
Criminal Background Check
Applicant’s certificate of clearance from fees and taxes owed to the government (Paz y Salvo)
Proof of direct investment in reforestation activities for at least USD $100,000
If using a Corporation or a Company as an investment vehicle:
A sworn declaration from the Treasurer or Secretary, stating the activity of the entity, share a percentage of the applicant, and the capital invested for these shares.
CPA certificate detailing the total investment directly related to reforestation projects and the percentage of such investment attributed to the capital invested by the applicant.
Authenticated copy of the applicant’s shares certificate.
Copy of the latest income tax return, detailing the capital invested in reforestation projects. If such does not exist because the entity has not completed its first fiscal year, then a copy of RUC inscription and copy of annual tax (Tasa Unica) payment.
Company’s original public registry inscription certificate.
Holding a provisional residency permit with the Regular Reforestation Visa program for at least two (2) years makes you eligible to apply to for permanent residency.
The following documentation is required to file the application before the National Immigration Services:
Provisional Residency Permit
All documents, up to date, used to obtain the Provisional Residency.
Kraemer & Kraemer provides experience, trust and excellence to our customers since 2008. Contact our team to discuss your case, clarify doubts, or start your application process for the Reforestation Visa.
Cost for main applicant: $2,900. ($1,500 Legal + $1,400 Government)
Cost for dependent 12+ years old: $2,000. ($600 Legal + $1,400 Government)
Cost for dependent under 12 y/o: $1,100 ($600 Legal + $500 Government)
The total costs for Friendly Nations Visa is broken down in 3 payments:
Payment 1: Initial Retainer, for 50% of total Legal Fees and a portion of process expenses.
Payment 2: On application submission, for Government Costs.
Payment 3: On application completion, for 50% of total Legal Fees.
FEES & COSTS
RETIREES & PENSIONER VISA
Cost for main applicant: $1,900. ($1,500 Legal + $400 Governments)
Cost for any dependent: $900 ($600 Legal + $300 Government)
The total costs for Retirees & Pensioner Visa is broken down in 3 payments:
Payment 1: Initial retainer, for 50% of total legal fees and a portion of process expenses.
Payment 2: On application submission, for remaining government costs.
Payment 3: On application completion, for 50% of total legal fees.
FEES & COSTS
PANAMANIAN CITIZENSHIP
Cost per applicant: $5,800 ($5,000 legal + $800 government)
The total cost of the Panamanian Citizenship is broken down into 3 payments:
Payment 1: Initial Retainer
Payment 2: On application submission
Payment 3: On application completion
FEES & COSTS
DIGITAL NOMAD VISA
Cost for main applicant: $1,500. ($1,000 Legal + $500 Government)
The total cost DOES NOT cover the Private Medical Insurance in Panama.
The total cost for Digital Nomad Visa is broken down into 1 payment:
Payment 1: Covers all legal and government costs.
FEES & COSTS
REFORESTATION VISA - PROVISIONAL RESIDENCY
Cost for main applicant: $5,000. ($3,000 Legal + $2,000 Government)
Cost for dependent 12+ years old: $3,000. ($1,600 Legal + $1,400 Government)
Cost for dependent under 12 y/o: $2,000. ($1,400 Legal + $600 Government)
The total costs for Reforestation Visa are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, for Government Checks.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
REFORESTATION VISA - PERMANENT RESIDENCY
Cost for main applicant: $1,400. ($1,000 Legal + $400 Government)
Cost for dependent 12+ years old: $900. ($600 Legal + $300 Government)
Cost for dependent under 12 y/o: $900. ($600 Legal + $300 Government)
The total costs for Reforestation Visa are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, another portion of legal and government costs.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
PANAMA – ITALY TREATY VISA
Cost for main applicant: $2,100. ($1,500 Legal + $600 Government)
Cost for dependent under 12 y/o: $1,100. ($600 Legal + $500 Government)
Cost for dependent 12+ years old: $1,200. ($600 Legal + $600 Government)
The total costs for Panama-Italy treaty visa are broken down into 3 payments:
Payment 1: Initial Retainer, for 50% of total Legal Fees and a portion of government costs.
Payment 2: On application submission, for government check.
Payment 3: On application completion, for 50% of total Legal Fees and remaining government costs.
FEES & COSTS
MARRIED WITH PANAMANIAN VISA - PROVISIONAL RESIDENCY
Cost for main applicant: $2,200. ($1,500 Legal + $700 Government)
The total costs for the Married with Panamanian visa are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, includes another portion of legal fees and government costs.
Payment 3: On application completion, includes the remaining legal fees and government costs.
FEES & COSTS
PANAMA SELF-SOLVENCY VISA - PROVISIONAL RESIDENCY
Cost for main applicant: $5,000. ($3,000 Legal + $2,000 Government)
Cost for dependent 12+ years old: $3,000. ($1,600 Legal + $1,400 Government)
Cost for dependent under 12 y/o: $2,000. ($1,400 Legal + $600 Government)
The total costs for Panama Self-Solvency Visa are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, for Government Checks.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
PANAMA SELF-SOLVENCY VISA - PERMANENT RESIDENCY
Cost for main applicant: $1,400. ($1,000 Legal + $400 Government)
Cost for dependent 12+ years old: $900. ($600 Legal + $300 Government)
Cost for dependent under 12 y/o: $900. ($600 Legal + $300 Government)
The total costs for Panama Self-Solvency Visa are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, for the remaining legal fees and government costs.
FEES & COSTS
FRIENDLY NATIONS VISA - PROVISIONAL RESIDENCY
Cost for main applicant: $3,200. ($1,800 Legal + $1,400 Government)
Cost for dependent under 12 y/o: $1,200 ($600 Legal + $600 Government)
Cost for dependent 12+ years old: $2,000. ($600 Legal + $1,400 Government)
The total costs for Friendly Nations Visa is broken down in 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, for Government Checks.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
FAMILY REGROUPING VISA - PROVISIONAL RESIDENCY (Visa for Dependents of Panamanian Residents)
Cost for first dependent: $3,200. ($1,800 Legal + $1,400 Government)
Cost for any other dependent under 12 y/o: $1,200 ($600 Legal + $600 Government)
Cost for any other dependent 12+ years old: $2,000. ($600 Legal + $1,400 Government)
The total costs for Family Regrouping Visa is broken down in 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, for Government Checks.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
FRIENDLY NATIONS VISA - PERMANENT RESIDENCY
Cost for main applicant: $2,300. ($2,000 Legal + $300 Government)
Cost for dependent under 12 y/o: $900 ($600 Legal + $300 Government)
Cost for dependent 12+ years old: $900. ($600 Legal + $300 Government)
The total costs for Friendly Nations Visa is broken down in 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, includes legal and government costs
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
MARRIED WITH PANAMANIAN VISA - PERMANENT RESIDENCY
Cost for main applicant: $1,300. ($1,000 Legal + $300 Government)
The total costs for the Married with Panamanian visa are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, includes another portion of legal fees and government costs.
Payment 3: On application completion, includes the remaining legal fees and government costs.
FEES & COSTS
QUALIFIED INVESTOR VISA
Cost for main applicant: $16,000 ($5,000 Legal + $11,000 Government)
Cost for dependent under 12 y/o: $2,000 ($700 Legal + $1,300 Government)
Cost for dependent 12+ years old: $3,000 ($700 Legal + $2,300 Government)
The total costs for the Qualified Investor Visa are broken down into 2 payments:
Payment 1: Covers 50% of Legal Fees + $500 of Government Costs
Payment 2: Covers 50% of Legal Fees + remaining Government Costs
FEES & COSTS
FAMILY REGROUPING VISA - PERMANENT RESIDENCY (Visa for Dependents of Panamanian Residents)
Cost for first dependent: $1,800. ($1,500 Legal + $300 Government)
Cost for any other dependent under 12 y/o: $900. ($600 Legal + $300 Government)
Cost for any other dependent 12+ years old: $900. ($600 Legal + $300 Government)
The total costs for Family Regrouping Visa is broken down in 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, another portion of legal fees and government costs.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
REFORESTATION VISA - EXPRESS
Requires minimum investment of USD $360,000
Cost for main applicant: $7,500. ($5,000 Legal + $2,500 Government)
Cost for dependent 12+ years old: $3,000. ($1,600 Legal + $1,400 Government)
Cost for dependent under 12 y/o: $2,000. ($1,400 Legal + $600 Government)
The total costs for Reforestation Visa (Express) are broken down into 3 payments:
Payment 1: Initial Retainer, includes a portion of legal fees and government costs.
Payment 2: On application submission, for Government Checks.
Payment 3: On application completion, for the remaining legal fees and government costs.
FEES & COSTS
The Friendly Nations Visa Package 1 (Work Contract) includes:
Cost of provisional residency for all applicants of the Friendly Nations Visa
Cost of IBC with Nominees
Cost of Business License
Cost of Annual Fees for 3 years includes: Nominees $900 ($300 per year) Annual Government Fees $900 ($300 per year) Resident Agent $900 ($300 per year) Zero-Income Tax Return $600 ($200 per year)
Cost of job offer for the Main Applicant
Cost of Work Permit for the Main Applicant
Cost of Bank assistance $400 (only applicable if main applicants has dependants)
FEES & COSTS
Friendly Nations Visa Package 2 (Real Estate) includes:
Cost of provisional residency for all applicants of the Friendly Nations Visa
Cost of Legal Assistance for Property under $2,000
Additionally, the cost of Notary, Public Registry, and Transfer Tax is not included yet. The Kraemer & Kraemer team will notify you of the amount due when the application is already in progress.
FEES & COSTS
The Friendly Nations Visa Package 3 (Certificate of Deposit) includes:
Cost of provisional residency for all applicants of the Friendly Nations Visa
Cost of Bank Account Opening Assistance and Certified Deposit