Panama is recognized as one of the leading nations with exemplary financial stability prospects appealing to a variety of investors today. The diversity in its business landscape, coupled with a thriving business environment, has drawn attention from individuals eager to embark on and invest in entrepreneurial ventures.
If you are a United States citizen and wish to become an investor in the business world, you should consider getting an investor visa in Panama. However, to obtain this type of visa, you should have the support of experts in legal matters. There are specialized firms, such as Legal Solutions Panama, whose team of professionals can help you from the beginning to the end of your process.
What is the purpose of an investor visa in Panama, and what are its benefits for foreigners?
Panamanian legislation permits foreign entrepreneur investors to enjoy the same rights as locals regarding property and financial assets within the country. Furthermore, holding this visa grants you legal residency in Panama, enabling investment in real estate, businesses, or time deposits, and access to essential services like education and healthcare.
This nation is distinguished by its robust economy and welcoming business environment, presenting investors with chances to broaden their commercial ventures. The streamlined process for opening bank accounts and carrying out international transactions, owing to its status as a financial hub, is a significant advantage.
Additionally, this visa grants applicants and their families the opportunity to enjoy a high-quality lifestyle in a nation abundant in cultural heritage and biodiversity. The benefits stemming from a political and legal framework that supports foreign investment, along with the chance to acquire Panamanian citizenship after residing there for a certain period, make this permit an appealing choice for foreigners considering Panama.
What are the criteria for securing an investor visa in Panama for citizens of United States?
As with any legal process required in the country, to obtain an investor visa in Panama, you must submit a collection of documents:
- Power of attorney and application, relevant to the notary’s office along with the necessary tax stamps.
- Four passport-sized photos of the applicant.
- A copy of the applicant’s passport.
- An apostilled criminal record certificate of the applicant.
- A health certificate issued by a qualified physician within the Republic of Panama.
- A certified check of USD 250 made payable to the National Treasury, which can be issued by either the applicant or their legal representative. Additionally, the certification cost per check is USD 10.70, which the holder must provide.
- A check for USD 800 payable to the National Immigration Service, also requiring certification; this can be issued by the applicant or their legal representative. The certification cost per check is the same as mentioned previously.
- A Personal Background Affidavit Form. This must be completed and signed by the applicant.
- Documents required vary depending on the type of investment:
- If investing in real estate, the following must be submitted:
- Certification from the Public Registry verifying ownership of real estate in the applicant’s name, with a minimum value of USD 300,000, and confirming that it is free of any encumbrances.
- If opting for a time deposit, the applicant should provide the following:
- A bank certification confirming the opening of a time deposit account under the applicant’s name with an amount of USD 300,000 and a minimum term of three (3) years, issued by any general license bank in the country. This deposit must be unencumbered.
- An authenticated copy of the fixed-term certificate from the bank.
- Two letters of responsibility.
If you have dependents, you must account for the extra requirements that need to be submitted.
Step-by-Step Guide to Securing Your Investor Visa: A Practical Approach
This process is straightforward. Follow the steps outlined below to ensure your visa application proceeds seamlessly 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: Professional attorneys to assist you 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 team of lawyers stands out for the breadth of their services and for their years of experience in advising on visa and immigration procedures. If you are interested in knowing more about how to obtain your investor visa with their support, visit their website and get a free 30-minute consultation with one of their experts.
