I want to establish a new business in Panama. I was told that the Business Investor Visa might be a suitable option for me. What are the requirements of applying for this visa? What about the application timeline?
The business investor visa grants you immediate temporal residency and permanent residency within a time frame of two and a half years. The required investment is for $160,000 in a new or existing business of any industry with foreign funds, and the business must have at least five Panamanian employees to qualify. Other than that, the standard documents towards residency, such as passport and an apostille police report are mandatory.
Every result of your question is focused on what you want to do, because the visa of the friendly nations is cheaper and faster, and with an enterprise in Panama, you can do business and investments. The investor visa is "temporary" until it is renewed again. The visa of the friendly nations is a single application and then you will have the permanent residency.
The Bussines Investor Visa requires a minimum investment of $160,000 per applicant as a shareholder of the said company. This visa will be issued for two years and then you could obtained a permanent resident visa. The time for processing the visa takes \four months approximately. The requirements are the following: 1) a certified payment of $250.00 to the Department of Treasure of Panama; 2) a certified payment of $800 to the National Service of Migration; 3) a criminal record apostilled; 4) a Certificate of Public Registry that shows the legal status of the company; 5) a certification by the secretary or treasurer of the company attesting that the capital of the business exists; 6) a copy of the register of shares; 7) a certification by an authorized accountant of Panama for the business attesting that the capital exists; 8) a statement signed before a notary public indicating the total of the minimum required of the capital invested, the activities of the company and the distribution of the capital; 9) a receipt of advanced payment of the capital taxes and copy of the business purchase contract; 10) copies of the tax return of the Panama company with a good standing certificate; 11) copies authenticated by the CSS of the type of panama business, with a minumum a five employees per applicant; 12) a certification of "peace and safegy" (Paz y salvo) by the CSS in favor of the Panama business; 13) a certified copy by the bank of the deposit receipt by the sum invested in favor of the company; 14) a bank certification of the transfer of funds by the applicant originating from outside of panama; 15) an audited financial statement; 16) a notice of operation of the company.
The Business Investor Visa requires a minimum investment of $80,000 on reforested land, to $160,000 on your own business and finally, investing $300,000 in real estate in Panama. Either option will first grant you a two-year visa, and later on permanent residency, as long as the applicant can prove the existence of the investment done. Requirements will vary, depending on whether the applicant includes family members or not, but a passport, police records, local bank accounts and the proof of investments are needed.
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