PERMANENT RESIDENT IN PANAMA POSSIBILITIES AS AN INVESTOR

PERMANENT RESIDENT VISAS IN PANAMA DIFFERENT POSSIBILITIES AS AN INVESTOR

PERMANENT RESIDENT VISAS IN PANAMA DIFFERENT POSSIBILITIES AS AN INVESTOR

PERMANENT RESIDENT VISAS IN PANAMA

I.
PERMANENT RESIDENT VISAS FOR ECONOMIC REASONS
II.
PERMANENT RESIDENT VISAS FOR SPECIAL POLICIES

III.
PERMANENT RESIDENT VISAS FOR DEMOGRAPHIC REASONS

I- PERMANENT RESIDENT VISAS IN PANAMA FOR
ECONOMIC REASONS
(According to Executive Decree No. 320 of August 8, 2008)
ARTICLE 179. The residence permit is granted to those foreigners who have their own capital from abroad, to invest in ecological, agricultural, commercial, industrial activities in companies duly registered in Panama, except in those cases in which the law has reserved the exercise of those activities to the nationals.

SECTION 1

PERMANENT RESIDENT VISA IN PANAMA FOR FOREST INVESTOR
ARTICLE 180. The foreigner who invests personally or through a legal entity in reforestation or forest plantation activities authorized by the National Environmental Authority, of at least twenty (20) hectares and whose minimum investment is eighty thousand balboas, may request this permit. (B / .80,000.00).

ARTICLE 181. In the case of a legal person, up to two foreigners may request this permit, provided that they demonstrate that each one made the minimum investment established in the previous article. The omission of this requirement will be grounds for cancellation of the request and the obligation to leave the country.

ARTICLE 182. In case of bringing dependents, the investment must be increased to two thousand balboas (B / .2,000.00) for each dependent, which can be justified with a local bank reference.

ARTICLE 183. In addition to the common requirements established in Article 28 of the Decree Law, the applicant must provide the following documents:

1. In the case of a legal person, you must submit a sworn statement from the Secretary or Treasurer of the company (no

can be rendered by the interested party), where the activities are accredited, the ownership of the registered shares issued in favor of the foreign applicant duly released and paid and the capital stock amount

2. Certification of the Authorized Public Accountant (CPA) in which the total amount invested is detailed in a

direct in the reforestation activity and that the capital belongs to the investor. (The accountant must attach a copy of the identity card and current card)

3. Authenticated copy of the share certificate issued in favor of forest investors

4. Copy of the income statement of the company, where the invested capital appears. If it has not yet elapsed

a fiscal period from the founding of the company instead, a copy of the proof of registration in the Sole Taxpayer Registry and a copy of the single rate must be provided

5. Copy of the resolution issued by the National Environmental Authority, from the Forest Registry

6. Original certification of the registration of the company and the property in the Public Registry

7. Proof of the investment made directly in reforestation activities, for a minimum of eighty thousand

balboas (B / .80,000.00) which can be demonstrated with documents such as:

to. Bank certification of the transfer of funds or payment (mandatory)

b. Audited financial statements

c. Commercial invoices for purchases and sales

d. Documents or receipts of importation of merchandise

ARTICLE 184. To request permanence, in addition to the requirements mentioned in the numerals described in the previous article, applicants must provide the following documents:

1. Peace and save of the applicant

2. Invoices or other documents showing disbursements made in the last year for the project of

reforestation, or certification of the company that is carrying out the maintenance plan that the contract is still in force, proof of the economic solvency of the company.

SECTION 2

PERMANENT RESIDENT VISA IN PANAMA FOR INVESTOR OF MACRO COMPANY
ARTICLE 185. Foreigners who wish to invest in a macro-company, with a minimum share capital of one hundred and sixty thousand balboas (B / .160,000.00) per applicant, may request this permit, these being shareholders and dignitaries of the same company; The omission of this requirement will result in the cancellation of the application and the obligation to leave the country.

ARTICLE 186. Foreigners who apply for this permit must be sole owners of the shares that reflect their minimum investment (B / .160,000.00 per applicant). The company can only have a Notice of Operation to invest in legal activities not reserved for nationals.

ARTICLE 187. In case of bringing dependents, the investment must be increased to two thousand balboas (B / .2,000.00) for each dependent, which can be justified with a local bank reference.

ARTICLE 188. The company must have a payroll of five (5) Panamanian employees (for each applicant), working at time

Full term, accruing a salary not less than the minimum established in the Law for each region and detailing the position or activity that each one performs. The company must register its employees with the Social Security Fund and comply with the respective obligations.

ARTICLE 189. In addition to the requirements established in Article 28 of the Decree Law, the following documents must be provided:

1. Original Certificate of Legal Status issued by the Public Registry, certifying the business name of the

company; the condition of the applicant for director or dignitary in the company, of the legal representative or attorney-in-fact (if any); the capital stock of the company (which must be a minimum of B / .160,000.00); type of shares (they must be registered) and the distribution of the capital stock

2. Certification from the Secretary or Treasurer of the company, proving the ownership of the issued shares

in favor of the foreign applicant and that they are duly released and paid (the shares must be for a minimum value of B / .160,000.00). The certification must be signed before a notary public and must not be signed by the interested party.

3. Copy of the pertinent pages of the Company's Book of Shares and of the shares issued in favor of the applicant

4. Certification of the Authorized Public Accountant (CPA) of the company, which certifies the ownership of the shares of the

foreign applicant and that they are duly released and paid (the shares must be for a minimum value of B / .160,000.00 per applicant) and detail the activities of the company

5. Declaration that the applicant must render before a Notary Public, in which he indicates the amount of the invested capital,

the amount of shares that it owns and that they are released and paid (for a minimum value of B / .160,000.00) as well as detailing the economic activities that the company will develop

6. Receipt of advance payment of capital gains tax, in the event that the applicant has acquired

the shares of a third party in an existing company and a copy of the sales contract

7. Copy of the Income Statement of the company, with your peace of mind (only in the case that the company had

been incorporated and has operated for several months before the date on which the income tax return for the current fiscal year must be submitted). In the Income Statement (in the equity section, share line) the payment of all the shares of the foreign applicant must be registered (which must be a minimum of B / .160,000.00 per applicant)

8. In the case of a recently established company, provide proof of Payment of the Single Fee and

of the Single Taxpayer Registry (RUC)

9. Copy authenticated by the Social Security Fund of the company's payroll, with a minimum of five (5)

Panamanian employees (per applicant), accruing the minimum wage established by law according to the region and category. (It must correspond to one of the payments made within the three months prior to the month of presentation)

10. Paz y Salvo from the Social Security Fund in force in favor of the company

11. Proof of Investment. Which may be demonstrated by submitting at least three of the

following documents, which are issued in the name of the company:

to. Bank certification of the transfer of funds from the applicant from abroad (mandatory)

b. In the event that you have acquired shares in an already established company, you must present proof of

payment and the contract of sale

c. Copy of the deposit receipt for the amount invested in favor of the company, authenticated by the bank

d. Purchase and sale contract of the premises where the company operates

and. Financially audited States

F. Copy of the deposit receipt for the amount invested in favor of the company, authenticated by the bank

g. Document issued by a bank stating that the funds that the applicant invests,

come from abroad

h. Commercial invoices of the expenses incurred by the investor in the company, accompanied by inventory

detailed done by the CPA. (Attach a copy of the document that proves the suitability of the CPA)

i. Customs clearance of imported goods on behalf of the company

j. Any other document that can prove the capital invested in the company

12. Proof of the existence and location of the company, for which you must provide at least three proofs.

issued in the name of the company (they can be any of the following documents or another that proves the existence of the company):

to. Lease contract of the commercial premises where the company headquarters or office operates

b. Last billing for electricity, telephone or drinking water supply service

c. Contract for security services

d. Proof of payment of ITBMS tax to the Ministry of Economy and Finance

and. Proof of payment of fees to the Municipality

13. Copy of the Operation Notice

ARTICLE 190. To request permanence, in addition to the requirements mentioned in the numerals described in the previous article, applicants must provide the following documents:

1. Paz y Salvo national of the company and the applicant

2. Copy of the company's Income Statement, with their respective payment receipts. In the Declaration of

Income (in the equity section, share line) the payment of all the shares of the foreign applicant must be registered (which must be greater than B / .160,000.00)

3. Copy of form 03 submitted to the Ministry of Economy and Finance

4. Paz y Salvo from the Social Security Fund in favor of the current company

SECTION 3

PERMANENT RESIDENT VISA IN PANAMA FOR PERSON WITH OWN FINANCIAL SOLVENCY
ARTICLE 191. The foreigner who invests the minimum sum of three hundred thousand balboas (B / .300,000.00) in real estate or fixed-term deposit or a combination of both may request this permit and demonstrate that the funds come from abroad. In case of including dependents, you must demonstrate an additional solvency of two thousand balboas (B / .2,000.00) for each one.

SECTION 3A

Permanent Resident Visa in Panama for a Person with Own Economic Solvency by Opening a Fixed Term Deposit
ARTICLE 192. In addition to the common requirements established in Article 28 of the Decree Law, the applicant must provide the following documents:

1. Bank certification that you have opened a fixed-term deposit account in the name of the applicant, with

a minimum duration of three (3) years, (the fixed term must be free of any encumbrance) in any bank with a general license in the national territory, for a minimum value of three hundred thousand balboas (B / .300,000.00), or its equivalent in foreign currency

2. Copy of the fixed-term certificate authenticated by the bank

SECTION 3B

Permanent Resident Visa in Panama for a Person with Own Economic Solvency for Investment in Real Estate
ARTICLE 193. In addition to the common requirements established in Article 28 of the Decree Law, the following documents must be provided:

1. Certificate from the Public Registry that proves the ownership of real estate, in a personal capacity of the

Applicant with a minimum value of three hundred thousand (B / .300,000.00), free of encumbrances.

PARAGRAPH I. In the event that the title to the real estate is in the name of a private interest foundation, the foreigner may request this permit as long as he or she proves that he is the founder and he or his dependents are the beneficiaries. The certificate from the Public Registry must show the designation of the founder and beneficiary.

PARAGRAPH II. In the event that the applicant proves that he has paid the liquidated sum of three hundred thousand balboas (B / .300,000.00) in a real estate and it is of a higher value than required, he may finance the remainder through mortgage loans of a local bank.

PARAGRAPH III. The Director General of the National Migration Service may consider applications for a permanent resident permit as Own Economic Solvency of those foreigners who have invested in real estate in the national territory, a minimum sum of two hundred thousand balboas (B / .200,000.00) and less than three hundred thousand balboas (B / .300,000.00), and that for reasons of force majeure or fortuitous event have not been able to sustain the ownership of the property before the entry into force of this regulation.

This exception must be verified with the payment through bank transfer to the real estate agency as payment of the property and an authenticated copy of the contract of promise of sale.

SECTION 3C

Permanent Resident Visa in Panama for a Person with Own Economic Solvency for Mixed Investment (Fixed Term Deposit and Investment in Real Estate)
ARTICLE 194. In addition to the common requirements established in article 28 of the Decree Law, the applicant must provide the requirements mentioned in articles 192 and 193 of these regulations. In this category of permit, the provision of paragraph II of article 193 of these regulations shall not apply.

ARTICLE 195. To request permanence, the applicant must submit what is described in the numerals of articles 192, 193 and 194 of these regulations and add:

1. National income peace and safe in favor of the applicant.

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