Investor's Visa - Investment in a "Micro" Enterprise
A "micro" business is one in which the applicant has invested between 40,000.00 USD to 150,000.00 USD. Anything over $150,000.00 will result in the business being classified as a "small" enterprise under the recent regulations of the Department of Immigration.
Where the investor has dependents who will also be included in the application, an additional 4,000.00 USD per dependent must be invested. It is no longer possible for two or more investors in a company to apply for residency through the investor visa using the same corporation.
Summary of the Process
- Register with the Immigration Department
- Incorporate the Company, obtain the company´s business license, and register with Social Security to set up the payroll system.
- Apply for the Immigrant Visa as an Investor in Micro Enterprise;
- Receive your temporary permit for a 3-month period and then pick up your Immigrant Visa and Immigrant card (Provisional Residency Permit) from the Immigration Department. This Providisonal Residency Permit is good for 1 year.
- Before your Provisional Residency Permit expires, you should re-apply for the Provisional Residency Permit as an Immigrant Investor in Micro Enterprise (this process will need to be repeated 3 times);
- After nearly 5 years, you may apply for Permanent Residency;
- You will be granted at this time another temporary permit, while your paperwork is reviewed;
- Granting of your Permanent Residency by the Immigration Department, and issuance of the letter to the Civil Registry authorising the granting of a Cédula;
- After 5 years of Permanent Residence, you will be eligible to apply for citizenship and a passport.
Requirements for the Immigrant Visa as an Investor in Micro Enterprise
- Power of Attorney and Application from a Panamanian attorney.
- Certified check or cashier´s check in the amount of 100.00 USD made out to the national treasury.
- Medical Certificate of Good Health – These are generally obtained in Panama to avoid the hassle of having the document later authenticated by a local doctor. The certificate must be no more than three (3) months old at the date it is presented to the Immigration Department. It should be signed and sealed, with the name, code and registration of the doctor clearly visible.
- HIV Test - In some cases, doctors will require this before issuing the Certificate of Good Health. The results of the test should specify the test method used as well as be signed and sealed by the lab technician, along with their name, and registration number.
- Police Certificate of Good Conduct – This is basically a police record from applicant's country of origin. It should cover a 5 year period. In some cases, the "Certificate" is simply a letter from the local police department indicating that the person in question does not have a criminal or arrest record. If the applicant has resided in Panama for the last five years, then a police record is requested locally.
- Certification of the full names of the Applicants Parents - this is simply an affidavit prepared by an attorney, and signed by the applicant confirming the complete names of their parents as it appears in their records. It is not necessary to have your parents sign this.
- Photocopy of the passport page where the applicant's general details and photo appear
- Four (4) passport-size photos
- Original passport, which must be valid for at least six (6) months
- Documents of the Corporation which provide evidence of the Investment.
Note: Where the applicant has dependents, the following documents should be included:
- Each dependent of legal age should issue a Power of Attorney to the attorney to represent them; parents should issue the Power of Attorney for any minors.
- Each dependent must have a Certified Check or Cashier's Check in the amount 100.00 USD made out to the National Treasury.
- Medical Certificate of Good Health
- HIV Test (*Not required for those younger than 12 years old)
- Police Certificate of Good Conduct (*Not required for minors)
- Photocopy of the principal page of the passport, where the dependent's general details are located.
- Four (4) passport size photos for each dependent
- Original passport, valid for at least six months
- Certification of the full names of the Applicant's parents
- Letter of responsibility from the principal applicant for each of the dependents
- Evidence of Paternity: This can be done in the form of Marriage and/or Birth Certificates.
