The Kind of Visas in PANAMA are the next: - More info, please visit our website:
http://www.panamalegalconsultants.com-
Immediate Passport Program: offering Immediate Panamanian Passport
Foreigners can be obtain immediate Panamanian Passport under the condition that they make a 5 year time deposit (certificate of deposit - "CD"), at the Banco Nacional de Panama, which earns a minimum of US$750 per month in interest income.
Since interest rates fluctuate, the minimum amount generated monthly must be $750. That means the original 5 year CD deposit with the Banco Nacional de Panama will vary depending on current interest rates. The monthly interest earned from the time deposit (CD), would be deposited directly into the applicants savings account, and the applicant can withdraw the funds in the savings account at any time.
- Self Economic Solvency Visa: offering Permanent Residency & Passport
The Self-Economic Solvency Visa offers three different investment options to qualify for residency status in the Republic of Panama:
Investment Option 1: Invest a minimum of US$200,000 in a two year time deposit or "certificate of deposit" or "CD", at any licensed bank in Panama.
- Conditions: The time deposit (CD) account must be in the personal name of the primary applicant (it may not be in the name of a corporation, foundation, or trust). The interest earned from the time deposit (CD), will be deposited monthly into any savings account at the bank that you designate (the savings account may be a personal account, or a corporate account). The interest income is not taxed by the Panamanian government, nor is it subject to any tax reporting requirements. - Dependents: For each additional dependent that applies for residency under the primary applicant, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.
Investment Option 2: Invest a minimum of US$200,000 in a titled property (real estate) in the Republic of Panama.
- Conditions: The titled property must be in the personal name of the primary applicant (it may not be in the name of a corporation, foundation, or trust). The primary applicant must also prove that he or she has an income to support his or her general costs of living.
- Dependents: For each additional dependent that applies for residency under the primary applicant, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.
Investment Option 3: Invest a minimum of US$120,000 in a two year time deposit or "certificate of deposit" or "CD", at any licensed bank in Panama, plus invest a minimum of US$80,000 in a titled property (real estate) in the Republic of Panama.
- Conditions: The time deposit (CD) account must be in the personal name of the primary applicant (it may not be in the name of a corporation, foundation, or trust). The interest earned from the time deposit (CD), will be deposited monthly into any savings account at the bank that you designate (the savings account may be a personal account, or a corporate account). The interest income is not taxed by the Panamanian government, nor is it subject to any tax reporting requirements. The titled property must be in the personal name of the primary applicant (it may not be in the name of a corporation, foundation, or trust). The primary applicant must also prove that he or she has an income to support his or her general costs of living.
- Dependents: For each additional dependent that applies for residency under the primary applicant, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.
- Small Business Investor Program: offering Permanent Residency & Passport.
The foreign business owners can be obtain legal residency in Panama under the condition that they invest a minimum of US$150,000 in either a new business venture, or an established company in Panama. Part of the requirement is that the business must employ at least 3 Panamanian employees paying them at least minimum wage, with social security benefits.
- Reforestation Visa: offering Permanent Residency & Passport.
- All applicants must provide a Police Clearance report on a police department's letterhead, signed by a police official.- All documents must be issued no more than 4 months prior to submitting the visa application.- All visa applications must be processed by a Panamanian lawyer.
- All overseas documents must be authenticated by a Panamanian Consulate nearest you or by Apostille.
- Passports must have at least 6 months remaining before expiration.
- Dependants can be included with both options.
Panama Reforestation Visa offer 2 options:
A. Small Business investment of at least $40,000;B. Large Business investment of at least $80,000.
- Retired or Pensioned Program: offering Permanent Residency only.
Foreigners can obtain legal residency in Panama under the condition that they are retired or pensioned. According to the Immigration Department of Panama, there is no minimum or maximum age required to qualify you only need to provide the below described requirements / documents.
The applicants retirement income (or pension income) must be at least a life time US$500 per month. For each dependent, the retirement income (or pension income) amount must be increased by US$100. For example, a husband with wife and one child, would need to prove a total pension income of US$700.Beneffits of this Visa Tax free importation of new or used household goods for up to USD 10,000.00; No income tax is paid in Panama for the pension received nor the interest gained from the fixed term deposit;
All benefits given to Panamanian retired persons by Law No. 6 of 1987 (some tax benefits, discounts in restaurants, hotels, teathers, etc.); Tax free importation of a car, for personal or family use, every two years;
No obligation to pay warranty deposits, as required for other types of visas.
** After filing the visa application, the whole procedure may take two months.
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Multiple Entry & Exit Visa (Optional)The Residency Visas is for foreigners so they can establish residency and permanently reside within the territory of the Republic of Panama. Every Immigrant or Resident should have an Entry and Exit Visa if he or she plans to travel into and or out of the Republic of Panama.An "Immigrant" is a foreigner or tourist that has applied for a resident Visa in the Republic of Panama. A "Resident" is a foreigner or tourist that has completed a resident Visa application program and has obtained a Permanent Resident Card in Panama.
The Multiple Entry & Exit Visa allows foreigners to enter and exit the Republic of Panama as many times as necessary during the validity of the Multiple Entry and Exit Visa, or until the expiration date of the Visa.Time frame:It takes approximately five (5) business days to process the Multiple Entry & Exit Visa at the Immigration office.Validity of the Multiple Entry & Exit Visa depends on the Legal status of Client:
If Immigrant (Resident Visa is in process): the Multiple Entry and Exit Visa is valid for one year or less (depending on the expiration date of the current provisional resident visa).
If Permanent Resident (Resident Visa is completed): the Multiple Entry and Exit Visa should be valid for a maximum term of two years.
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More info please, contact us:
info@panamalegalconsultants.comor visit our website:
http://www.panamalegalconsultants.com
Viewed geographically and geologically Panama forms a bridge between North and South America. Apart from the Panama Canal as one of the most important trade routes in the world for navigation, Panama hosts the second largest Free Trade Zone in the world. The US dollar, the local currency since 1904, guarantees the lowest levels of inflation in the entire hemisphere, inflation that barely exceeds 1.5 %.
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