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Visa for reforestation
Foreigners can obtain a permanent residency visa for Panama by investing in reforestation projects certified by the government. Additionally, these reforestation investments have generated good returns.
The foreigner must invest at least $80,000 USD in an approved reforestation project to qualify for a Panama immigration permanent residency visa. Panama has several such projects to choose from, most of which are owned by foreign companies, primarily from Europe. A minimum of 5 hectares of forest land will be purchased with the $80,000 USD investment. A Panama legal entity can be used in addition to making the investment in one's own name.
An applicant and dependents are eligible for permanent residency in Panama, allowing them to obtain a Panama passport and become Panamanian citizens.
To qualify for citizenship, a foreigner must have lived in Panama for at least five years.
Each dependent included with the visa application must invest an additional $2,000 USD.
Investments in Panama reforestation can help the environment by reducing rainforest loss. Planting new trees to replace those cut down for lumber is referred to as reforestation. Besides providing a natural habitat for wildlife, plants, and preserving the climate, rainforests also purify the air and replenish worldwide water supplies. Rain forests are not the best source of lumber, so sustainable reforestation projects are better.
The investment in environmental cleanup or alternative clean energy is truly a "Green Investment," which reduces pollution and energy costs. Often called "Panama's Green Investment Visa", Panama's immigration reforestation visa facilitates reforestation projects.
Reforestation projects in Panama plant new trees, cultivate them, prune them every few years, harvest them after 15 to 20 years, and replant them.
Documents required for Panama Reforestation Visa application, in addition to the usual documents required for permanent residency in Panama:
The first step. Using a legal entity, like a Panama Corporation, to purchase the reforestation property will require a sworn affidavit from the treasurer or secretary (other than the applicant).
The second is. Certificate from a Panama Public Accountant (CPA) detailing the amount invested by the applicant in Panama reforestation. The accountant must submit documents supporting this.
The third. Shares owned by the applicant are authenticated by a certificate.
The fourth step. Invested capital's official tax returns. If the first tax year has not yet ended, then a copy of the corporation's tax identification number (RUC) must be submitted.
The fifth point. Reforestation project certification letter from the National Environmental Authority (ANAM).
The sixth step. Business (corporation) and property title certificates from the Panama Public Registry.
Assume the following: Reforestation project investment of at least $80,000 USD. Documents that are acceptable include:
(a) Financial statements audited by an independent auditor
Payment or transfer of funds certification from the bank
Documents proving importation of merchandise
(d) Sales and purchase receipts
ImmiPa Immigration manages this type of Visa for you. To make this happen, we have a team of qualified lawyers ready to offer you legal advice and provide all the necessary tools.