I have read about Panama offering residency visas in exchange for purchasing land that will be reforested. How does this program work? What is the minimum investment amount and how is it different than other programs? Would I truly own the land or donate it to another entity for that group to plant?
A Panama Reforestation Visa requires a minimum investment of $80,000 USD in at least five hectares of land from a local provider of approved reforested land, which must have all permits at time of application. This program leads to a residency permit within a total timeframe of approximately three years, during which time the investment must be kept.
The permanent resident for investment reasons - forest program grants residency to a foreigner who has invested the minimum amount of USD $80,000 in reforestation activities or a forest plantation authorized by the ANAM (the national environment authority), with a minimum of five hectares of investment. This permit will be granted for a term of two years. After this period, the applicant may opt for a permanent residency. To include a dependent, you must add to the investment $2,000 per each dependent. You'll truly own the land. This visa doesn't grant a work permit.
The reforestation investment residency permit allows the applicant to obtain first a provisional residency permit, for two years, to later become eligible to a permanent residency permit. The main requirement is to own at least five hectares of government-approved reforested land. This means that the land should already have a given plantation, seeded and arranged accordingly to our environmental regulations. The plot of land should be of at least five hectares, with a minimum investment of USD $80,000. An additional investment of $2,000 will be required per dependent. Land may be owned personally or under a company. In the case of the latter, further documents will be required. This is the lowest investment option there is to apply for a permanent residency status in Panama.
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