Reforestation Visa - Investment into a Reforestation Project
There are two ways to qualify under the reforestation program - you may buy your own piece of property, through a corporation and then register and reforest and manage the land yourself. The other option is to purchase shares or a parcel of an already existing reforestation project which has already been qualified as such by ANAM (National Environmental Authority).
Foreign investors must invest a minimum of 40,000 USD to qualify for the immigrant visa through as a reforestation investor. The investor must hold the investment, whether directly or indirectly, for a minimum of 10 years.
It is necessary to travel to Panama in order to process the legal papers.
Summary of the Process:
- Register with the Immigration Department
- Invest into the Reforestation Project. If you invest into an already existing reforestation project you will need to get a certificate which should be provided by the reforestation company. If you decide to create your own reforestation project you will have to register it with ANAM in order to get the necessary certificate.
- If you establish your own project - it is necessary to register the project with ANAM (National Environmental Authority). order to obtain the certificate from them that it is a proper reforestation project. If you invest in an existing reforestation project, the company should provide you with a certification to present to the immigration department.
- Apply for Immigrant Visa as a Reforestation Investor. You will be issued a temporary resident visa which is good for 1 year.
- Before your Temporary Residency Permit expires, you should re-apply for Permanent Residency, with right to a Cedula.
- Once this takes place you will be granted a letter from Immigration Department authorizing you to have a cedula. You must take this letter to the Civil Registry where your cedula will be issued.
- After 5 years of permanent residency, you qualify to request citizenship and a passport.
Requirements for Immigrant Visa as an Investor in Reforestation
- 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.
- Repatriation Deposit
- 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
- Certificate of Good Standing for the Company in which the investment has been made
- Certificate issued by the Auditor of the company in which the investor has invested, showing either a direct or indirect investment of at least Forty Thousand Dollars (B/.40,000.00), and proving that the investment is part of the assets of the company. This certificate must include the license number of the CPA.
- Certificate from ANAM, indicating that it is an approved project (or that the paperwork has been submitted for approval of the project).
- Deposit slip from the Bank, showing the deposit into the reforestation company
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. Requirements to Obtain Permanent Residency with the Right to a Cédula as an Investor in Reforestation
