Who can ask for this type of visa and its corresponding residence permit?
The foreigner that wishes to immigrate and to establish his residence into the Republic of Panama in status of investor of a macro-company must invest his own equity capital by a minimum of B/. 150,000.01 (one hundred fifty thousand dollars with one cent).
The applicant must prove to the National Directorate of Immigration and Naturalization the source of funds that the petitioner is investing, as well as the direct investment and the payment of the required minimum social capital, presenting documents and proofs like a bank statement or other documents that demonstrate the deposit or transfer of funds from abroad in the name of the applicant.
The foreigner must be the director and dignitary of the company in which he has invested his capital. In addition, the petitioner must be the unique holder of the shares that show the minimum investment allowed, being able to have Panamanian partners, owners of the rest of the social capital in the case that it is greater than the required minimum amount.
The company can be of industrial or wholesale commercial type, therefore it must bear a commercial license, type “A” or Industrial type". The company must have a minimum initial payroll of three full time (3) Panamanian employees, who earn a monthly wage not inferior than the minimum wage stated by Law for each region and type of activity. The employees must be registered in the Social Security system and fulfil the legal obligations with respect to the fiscal law.
When the request is approved, the applicant receives a provisional permit of residence for a one year period. For the provisional permit as well as for the definitive permanence, it is essential to demonstrate the existence of the business, that the investment continues, and the fulfilment of the condition of maintaining the Panamanian personnel hired on a full time basis, earning a wage not inferior to the minimum indicated by the Code of Work and that it is up to date in the payment of the social security quotas.
The National Directorate of Immigration and Naturalization has the right to make inspections to the company in order to verify its location, existence and operation according to established parameters.
Processing time frame: 2 to 4 months to obtain the Provisional Permit of Permanence, which has validity for one year.
Note:
All foreign citizens, that approaches the Directorate of Immigration to perform any procedure, must be previously registered in the Migratory Movement’s Section, whereto has to fulfil the following requirements:
1. Present two (2) carnet size photos
2. Present a copy of the page of the passport that containing the general information about him or (her) and copy of the page that shows the seal of the last entry to our country.
3. Payment of the registration fee.
4. Complete the register form of the Sworn Statement
In the case that the request includes dependents, the requirements for the Immigrant’s Visa as a Resident Dependent must be included.
All documents issued abroad, must be properly annotated or authenticated by the Republic of Panama Embassy or Consulate at the country that issued them, and by the Ministry of Foreign Affairs of Panama.
All documents issued abroad that are not written in the Spanish Language, must be translated by an Official Public Translator certified by the Ministry of Government and Justice.
All foreign residents, temporary visitors or alien citizens present in the country with an application being processed that wishes to go abroad and re-enter the country, requires from the National Directorate of Immigration and Naturalization a MULTIPLE INCOMING VISA BEFORE LEAVING THE COUNTRY. The omission of this procedure will incur a One Hundred Balboa fine (B/100.00).
One month before the termination of the one year Residence Permit that is granted with the Immigrant Visa, the petitioner may apply for the Permanent Residence, with the right to apply for a Panamanian Cedula (I.D. Card)
All those nationalities that require a Consulted Visa must present with any request, a VALID VISA CERTIFICATION TO PROCESS A RESIDENCE, issued by the Consulted Visa Department of the National Directorate of Immigration and Naturalization.
The Sworn Declaration must be made in the form supplied by the Directorate of Immigration and Naturalization. This form must be signed by the interested party and be completed in full. To furnish false information carries penal and legal responsibilities and the refusal of the requested visa or its cancellation if already granted. Under age foreigners don’t have to complete this form, but parents or tutors must provide the requested information, although not under the gravity of oath.
The documentation must be COMPLETE at the time of presentation, and in the expressed following order. Small documents such as, birth certificates, health certificates, receipts, etc, must be added to a legal size paper and both faces of the abovementioned documents must be clearly seen, in order to be properly received.
REQUIREMENTS:
Foreigner
At the presentation of the documents, a three month temporary carnet is issued and at the time of the approval of the request, a provisional one year permanent carnet is issued. The costs of the carnets will be paid by the interested party as well as the B/. 10.00 fiscal stamps for those nationalities that require a visa.
Power of attorney and petition by means of a lawyer [ ... The Power of attorney must be presented personally before a Public Notary or at the Reception of Documents Office at the Directorate of Migration. It must include the general information of the foreign petitioner (full name, nationality, passport exact address, telephone numbers) as well as the parents full name, nationality and exact address. Also, all the general information of the lawyer must be stated (offices address, fax number, telephone number, e mail address) Within the request, in addition to the complete general information of the principal and the empowered, the general information of the attached checks (check number, bank name, date and amount), list and identification of the attached documents and quote the legal basis for the request and the type of the commercial activity that the company will develop. The Power of attorney must be personally presented before the National Directorate of Immigration and Naturalization officer or with an authenticated note before a Public Notary. The Power of attorney, as well as the request must have B/. 4.00 legal stamps per page (Four Dollars per page).
Medical Certificate of Good Health [: issued within the three (3) months prior to the presentation date (it must have date, signature and seal with the doctor’s name, including the code and registration number of the physician.]
Two (2) Carnet size photos [...up dated (no hats or veils and front face)
Passport of the country of origin [... with a minimum of six months validity time]
Complete copy of the passport
Certified or cashier’s check in the amount of B/ 100.00 in favour of the “Tesoro Nacional” (National Treasury).
Certified or cashier’s check in the amount of B/500.00 in favour of the “Ministerio de Gobierno y Justicia” (Ministry of Government and Justice) as a repatriation’s deposit [applicable to persons older than 12 years]
Penal and police record issued by the previous country of residence of the petitioner within the last two years, ( if the interested party has been in Panama for the last two or more years on a consecutive time, this document will not be necessary).
Certificate of Juridical Person issued by the Public Registry, that confirms the following: the corporate name of the company, the directors and dignitaries of the company, the name of the legal or empowered representative (if it has one), the issued capital stock of the company (that must be a minimum of B/. 150,000.00), type of shares and the distribution of the capital stock. The petitioner must be the director and dignitary of the company.Certification of the Secretary or Treasurer of the company, where it states the title of the shares issued in favour of the foreign applicant and that the shares are properly released and paid (the shares must be of a minimum value of B/.150,000.01). The certification must be signed before a Public Notary and shouldn’t be subscribed by the interested party.
The foreigner that wishes to immigrate and to establish his residence into the Republic of Panama in status of investor of a macro-company must invest his own equity capital by a minimum of B/. 150,000.01 (one hundred fifty thousand dollars with one cent).
The applicant must prove to the National Directorate of Immigration and Naturalization the source of funds that the petitioner is investing, as well as the direct investment and the payment of the required minimum social capital, presenting documents and proofs like a bank statement or other documents that demonstrate the deposit or transfer of funds from abroad in the name of the applicant.
The foreigner must be the director and dignitary of the company in which he has invested his capital. In addition, the petitioner must be the unique holder of the shares that show the minimum investment allowed, being able to have Panamanian partners, owners of the rest of the social capital in the case that it is greater than the required minimum amount.
The company can be of industrial or wholesale commercial type, therefore it must bear a commercial license, type “A” or Industrial type". The company must have a minimum initial payroll of three full time (3) Panamanian employees, who earn a monthly wage not inferior than the minimum wage stated by Law for each region and type of activity. The employees must be registered in the Social Security system and fulfil the legal obligations with respect to the fiscal law.
When the request is approved, the applicant receives a provisional permit of residence for a one year period. For the provisional permit as well as for the definitive permanence, it is essential to demonstrate the existence of the business, that the investment continues, and the fulfilment of the condition of maintaining the Panamanian personnel hired on a full time basis, earning a wage not inferior to the minimum indicated by the Code of Work and that it is up to date in the payment of the social security quotas.
The National Directorate of Immigration and Naturalization has the right to make inspections to the company in order to verify its location, existence and operation according to established parameters.
Processing time frame: 2 to 4 months to obtain the Provisional Permit of Permanence, which has validity for one year.
Note:
All foreign citizens, that approaches the Directorate of Immigration to perform any procedure, must be previously registered in the Migratory Movement’s Section, whereto has to fulfil the following requirements:
1. Present two (2) carnet size photos
2. Present a copy of the page of the passport that containing the general information about him or (her) and copy of the page that shows the seal of the last entry to our country.
3. Payment of the registration fee.
4. Complete the register form of the Sworn Statement
In the case that the request includes dependents, the requirements for the Immigrant’s Visa as a Resident Dependent must be included.
All documents issued abroad, must be properly annotated or authenticated by the Republic of Panama Embassy or Consulate at the country that issued them, and by the Ministry of Foreign Affairs of Panama.
All documents issued abroad that are not written in the Spanish Language, must be translated by an Official Public Translator certified by the Ministry of Government and Justice.
All foreign residents, temporary visitors or alien citizens present in the country with an application being processed that wishes to go abroad and re-enter the country, requires from the National Directorate of Immigration and Naturalization a MULTIPLE INCOMING VISA BEFORE LEAVING THE COUNTRY. The omission of this procedure will incur a One Hundred Balboa fine (B/100.00).
One month before the termination of the one year Residence Permit that is granted with the Immigrant Visa, the petitioner may apply for the Permanent Residence, with the right to apply for a Panamanian Cedula (I.D. Card)
All those nationalities that require a Consulted Visa must present with any request, a VALID VISA CERTIFICATION TO PROCESS A RESIDENCE, issued by the Consulted Visa Department of the National Directorate of Immigration and Naturalization.
The Sworn Declaration must be made in the form supplied by the Directorate of Immigration and Naturalization. This form must be signed by the interested party and be completed in full. To furnish false information carries penal and legal responsibilities and the refusal of the requested visa or its cancellation if already granted. Under age foreigners don’t have to complete this form, but parents or tutors must provide the requested information, although not under the gravity of oath.
The documentation must be COMPLETE at the time of presentation, and in the expressed following order. Small documents such as, birth certificates, health certificates, receipts, etc, must be added to a legal size paper and both faces of the abovementioned documents must be clearly seen, in order to be properly received.
REQUIREMENTS:
Foreigner
At the presentation of the documents, a three month temporary carnet is issued and at the time of the approval of the request, a provisional one year permanent carnet is issued. The costs of the carnets will be paid by the interested party as well as the B/. 10.00 fiscal stamps for those nationalities that require a visa.
Power of attorney and petition by means of a lawyer [ ... The Power of attorney must be presented personally before a Public Notary or at the Reception of Documents Office at the Directorate of Migration. It must include the general information of the foreign petitioner (full name, nationality, passport exact address, telephone numbers) as well as the parents full name, nationality and exact address. Also, all the general information of the lawyer must be stated (offices address, fax number, telephone number, e mail address) Within the request, in addition to the complete general information of the principal and the empowered, the general information of the attached checks (check number, bank name, date and amount), list and identification of the attached documents and quote the legal basis for the request and the type of the commercial activity that the company will develop. The Power of attorney must be personally presented before the National Directorate of Immigration and Naturalization officer or with an authenticated note before a Public Notary. The Power of attorney, as well as the request must have B/. 4.00 legal stamps per page (Four Dollars per page).
Medical Certificate of Good Health [: issued within the three (3) months prior to the presentation date (it must have date, signature and seal with the doctor’s name, including the code and registration number of the physician.]
Two (2) Carnet size photos [...up dated (no hats or veils and front face)
Passport of the country of origin [... with a minimum of six months validity time]
Complete copy of the passport
Certified or cashier’s check in the amount of B/ 100.00 in favour of the “Tesoro Nacional” (National Treasury).
Certified or cashier’s check in the amount of B/500.00 in favour of the “Ministerio de Gobierno y Justicia” (Ministry of Government and Justice) as a repatriation’s deposit [applicable to persons older than 12 years]
Penal and police record issued by the previous country of residence of the petitioner within the last two years, ( if the interested party has been in Panama for the last two or more years on a consecutive time, this document will not be necessary).
Certificate of Juridical Person issued by the Public Registry, that confirms the following: the corporate name of the company, the directors and dignitaries of the company, the name of the legal or empowered representative (if it has one), the issued capital stock of the company (that must be a minimum of B/. 150,000.00), type of shares and the distribution of the capital stock. The petitioner must be the director and dignitary of the company.Certification of the Secretary or Treasurer of the company, where it states the title of the shares issued in favour of the foreign applicant and that the shares are properly released and paid (the shares must be of a minimum value of B/.150,000.01). The certification must be signed before a Public Notary and shouldn’t be subscribed by the interested party.
Certification of the corporation’s Certified Public Accountant (CPA), stating the titles of the shares credited to the foreigner petitioner and indicating that those shares are properly released and paid (the shares must be of a minimum value of B/.150,000.01) (Attach document certifying the legal capability of the C.P.A.
Declaration rendered by the petitioner before a Public Notary, in which the amount of the invested capital is indicated, as well as the amount of the owned shares and that they are released and paid (with a minimum value of B/.150,00.01), it must also mention the detailed commercial activities performed by the company.
Authenticated copy by the Ministry of Economy and Finance, of the sworn Income tax form along with its payment receipts (only in the case in which the company has been constituted and has operated several months before the date of presentation of the sworn income tax form for the present year). Within the Income tax form (in the equity section, where it mentions shares) the total payment of the shares owned by the foreign petitioner of the visa must be registered (that should be more than B/. 150,000.01)
Authenticated copy by the Ministry of Economy and Finance, of the sworn Income tax form along with its payment receipts (only in the case in which the company has been constituted and has operated several months before the date of presentation of the sworn income tax form for the present year). Within the Income tax form (in the equity section, where it mentions shares) the total payment of the shares owned by the foreign petitioner of the visa must be registered (that should be more than B/. 150,000.01)
If the company is of recent incorporation, the application must include a copy of the paid “Tasa Unica” and the Taxpayer Personal Register (R.U.C.) duly collated by the Ministry of Economy and Finance.
Copy authenticated by Caja de Seguro Social (Social Security) of the company’s payroll, which specifies a minimum of (3) three Panamanian employees, earning salaries no lower than the minimum wage established by law according to the region and position. (It must correspond to a payment made during the last months prior to the presentation of the application)
Copy authenticated by Caja de Seguro Social (Social Security) of the company’s payroll, which specifies a minimum of (3) three Panamanian employees, earning salaries no lower than the minimum wage established by law according to the region and position. (It must correspond to a payment made during the last months prior to the presentation of the application)
Social Security’s good standing [ in behalf of the company and with minimum of three (3) months validity.
Proof of investment [Can be demonstrated by presenting at least three of the following documents: Real State Buy/Sell Agreement of the place where the company operates or is located. Photocopy of bank’s deposit slip authenticated by the bank, showing the invested amount on behalf of the company, Document issued by a bank certifying that the amount invested by the foreign petitioner comes from abroad. Commercial invoices of the expenses incurred by the investor in favour of the company, along with a detailed inventory certified by a C.P.A; Customs forms that show the paid taxes for imported assets in the name of the company or the investor. Any other document that can prove the capital invested on the company]
Proof of investment [Can be demonstrated by presenting at least three of the following documents: Real State Buy/Sell Agreement of the place where the company operates or is located. Photocopy of bank’s deposit slip authenticated by the bank, showing the invested amount on behalf of the company, Document issued by a bank certifying that the amount invested by the foreign petitioner comes from abroad. Commercial invoices of the expenses incurred by the investor in favour of the company, along with a detailed inventory certified by a C.P.A; Customs forms that show the paid taxes for imported assets in the name of the company or the investor. Any other document that can prove the capital invested on the company]
Proof of location and existence of the company [ ( supply a minimum of three proofs). – Rental agreement of the commercial location, where the headquarter or office of the business operates, dully registered before the Ministry of Housing (in the case it is not an owned place). Electric Energy Service Agreement – Phone Service Agreement - Water supply agreement – Security services agreement – Garbage services agreement – ITBM tax payment (added value tax) to the Ministry of Economic and Finances – Internet services agreement.
Copy of the Commercial or industrial Licence of the company, (It can be “A” type that covers the wholesales commercial activities or industrial licence)
Legal Base:
Law Decree No.16 of 30 of June of 1960, Law No.47 of 31 of August of 1999 and Resolution 10,386 of October of 2003, Law No. 8 of March 29 of 2000.
Comments:
No comments are registered.
Copy of the Commercial or industrial Licence of the company, (It can be “A” type that covers the wholesales commercial activities or industrial licence)
Legal Base:
Law Decree No.16 of 30 of June of 1960, Law No.47 of 31 of August of 1999 and Resolution 10,386 of October of 2003, Law No. 8 of March 29 of 2000.
Comments:
No comments are registered.
1 comment:
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