Panama is often recognized as one of the nations with the most promising financial stability for investors of all kinds today. The diverse range of businesses and the flourishing business environment have made it an appealing destination for anyone keen on starting or investing in enterprises.
If you are a United States citizen and are looking to embark on a journey as an investor in the business sector, you might want to consider acquiring an investor residency in Panama. Nonetheless, to successfully secure this kind of visa, it is advisable to have the guidance of legal experts. There are dedicated firms like Legal Solutions Panama, whose team of specialists can assist you throughout the entire process.
What are the objectives of an investor visa in Panama, and how does it benefit foreign nationals?
Under Panamanian legislation, foreign entrepreneur are afforded the same rights as local citizens concerning property and capital. Moreover, this visa grants legal residency in Panama, enabling you to invest in real estate, businesses, or fixed-term deposits, and provides access to fundamental services, including education and healthcare.
This country stands out for its stable economy and favorable business climate, which offers investors opportunities to expand their commercial activities. The ease of opening bank accounts and conducting international transactions, thanks to its position as a financial center, is a great benefit.
Also, this visa allows applicants and their families to enjoy a quality lifestyle in a country rich in culture and biodiversity. The advantages of the political and legal system favorable to foreign investment, together with the possibility of obtaining Panamanian citizenship after a period of residence, make this permit an attractive option for foreigners in Panama.
What are the prerequisites for obtaining an investor visa in Panama from United States?
As with all legal processes that must be followed in the country, to secure an investor visa in Panama, a collection of documents must be submitted:
- Power of attorney and application, which involve the notary’s office and the necessary tax stamps.
- Four passport-size photos of the applicant.
- A copy of the applicant’s passport.
- Apostilled criminal record certificate of the applicant.
- Health certificate by a licensed physician in the Republic of Panama.
- A certified USD 250 check payable to the National Treasury, which can be provided by the applicant or their legal representative. Additionally, the certification fee for the check is USD 10.70, to be covered by the applicant.
- Certified check for USD 800 payable to the National Immigration Service, which can also be provided by the applicant or their legal representative, with the certification fee matching the previous item.
- Personal Background Affidavit Form, to be filled out and signed by the applicant.
- Documents required based on the type of investment:
- For real estate investments, the following documents must be provided:
- Certification from the Public Registry, confirming real estate ownership under the applicant’s name, valued at a minimum of USD 300,000, free of any encumbrances.
- If opting for a time deposit, the applicant must provide:
- Bank certification verifying the opening of a time deposit account in the applicant’s name, amounting to USD 300,000 with a minimum term of three (3) years at any general license bank in the country, free from encumbrances.
- Copy of the fixed-term certificate, authenticated by the bank.
- Two letters of responsibility.
If you have dependents, there are extra requirements that need to be submitted.
Practical guide to obtaining your investor visa: follow the step-by-step guide
This process is straightforward. Follow these steps to ensure your visa application proceeds smoothly from beginning to end:
- Application Submission: Visit the National Immigration Service in Panama to submit your application. Ensure you have all necessary documents and complete the required application form.
- Paying Fees: Settle the administrative fees linked to the investor visa. These fees may vary, so it’s important to check the current prices when you apply.
- Review Process: After submitting your application, the National Immigration Service will evaluate your case. This process typically takes between 3 and 6 months.
- Receiving the Visa: If your application is successful, you will be issued your investor visa. Carefully examine the terms and conditions to ensure there are no mistakes in the document.
Legal Solutions Panama: Experienced Lawyers to Assist in Obtaining Your Investor Visa
As you have seen, the application for your investor visa is a process that requires several requirements. Having legal advice from experts in the field is a good way to start, and Legal Solutions Panama can help you from the first moment.
This group of attorneys is renowned for their comprehensive range of services and extensive experience in guiding clients through visa and immigration processes. To learn more about securing your investor visa with their assistance, visit their webpage and take advantage of a complimentary 30-minute consultation with one of their specialists.
