Investor's Visa - "Personal Income"
If you have the liquidity to make a 100,000.00 USD term deposit (CD - Certificate of Deposit) in a local bank for a 2-year period of, then you will be eligible to qualify as an investor in Panama with Personal Income ("rentas propias").
This form of visa is typically much quicker and less burdensome than than the visa granted for investment in Micro (a business in which an immigrant has invested between 40,000.00 USD to 150,000.00 USD ) or Small Enterprise (a business in which an immigrant has invested 150,000.01 USD or more ).
Summary of the Process
- Register with the Immigration Department
- Open a term deposit of 100,000.00 USD with a certified local in Panama.
- Apply for the Immigrant Visa as an Investor with Personal Income;
- Receive your temporary permit for a 3-month period and then pick up your Provisional Residency Permit from the Immigration Department;
- Before your Provisional Residency Permit expires at the end of the year, you should apply for Permanent Residency as an Immigrant Investor (Personal Income);
- You will be granted at this time another temporary permit, while your paperwork is reviewed;
- Once approved, your Permanent Residency will be granted by the Immigration Department , authorizing the Civil Registry to grant you your Cédula;
- After 5 years of Permanent Residence, you will be eligible to apply for citizenship and passport.
Requirements for the Immigrant Visa as an Investor with Personal Income
- Power of Attorney and Application from an attorney.
- Certified check or cashier's check in the ammount of 100.00 USD made out to the National Treasury.
- Repatriation Deposit - a Certified or Cashier's Check made payable to the Ministry of Government & Justice, in the amount of 500.00 USD. This is held to repatriate the applicant in the event of deportation from Panama.
- 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
- Letter from the Bank, certifying that you have a term deposit with them for at least a two-year period and which is a minimum of US$100,000.00 & copy of the term deposit contract.
In order to set up the term deposit, it will be necessary to open a bank account in your name within Panama. For this visa option, it is not possible to establish the term deposit in a corporate account.
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.
- Repatriation Deposit *Not required for dependents under 12 years of age
- 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.
