Panama is recognized as one of the leading nations with exemplary financial stability prospects appealing to a variety of investors today. The diversity in its business landscape, coupled with a thriving business environment, has drawn attention from individuals eager to embark on and invest in entrepreneurial ventures.
If you are a citizen of United Kingdom and are aspiring to venture into the business sector as an investor, exploring the option of an business visa in Panama might be worthwhile. To successfully secure this visa, it’s essential to seek guidance from legal experts. Fortunately, there are specialized firms like Legal Solutions Panama, equipped with a proficient team ready to assist you throughout the entire process.
What is the goal of an investor visa in Panama, and what advantages does it offer to foreigners?
Panamanian legislation permits foreign entrepreneur investors to enjoy the same rights as locals regarding property and financial assets within the country. Furthermore, holding this visa grants you legal residency in Panama, enabling investment in real estate, businesses, or time deposits, and access to essential services like education and healthcare.
This nation is distinguished by its stable economy and conducive business environment, offering investors ample opportunities to grow their commercial ventures. The simplicity of setting up bank accounts and managing international transactions, attributed to its status as a financial hub, is a significant advantage.
Moreover, this visa enables applicants and their families to experience a high standard of living in a country abundant in culture and biodiversity. The benefits of a political and legal framework supportive of foreign investment, along with the opportunity to gain Panamanian citizenship following a certain residency duration, render this permit an appealing choice for foreigners in Panama.
What are the prerequisites for obtaining an investor visa in Panama from United Kingdom?
Like all legal procedures that must be complied with in the country, in order to obtain an investor visa in Panama, it is necessary to present a series of documents:
- Power of attorney and application, which corresponds to the notary’s office and their respective tax stamps.
- Four passport-size photographs of the applicant.
- A copy of the applicant’s passport.
- Apostilled criminal record certificate of the applicant.
- Certificate of health by a qualified physician in the Republic of Panama.
- A certified USD 250 check payable to the National Treasury, may be made out by the applicant or his legal representative. In turn, the cost of certification per check is USD 10.70, which must be provided by the holder.
- Check for USD 800 made out to the National Immigration Service, which must also be certified; it can be offered by either the applicant or his/her legal representative. The cost of certification by check is identical to the previous point.
- Personal Background Affidavit Form. To be completed and signed by the applicant.
- Documents to be provided depending on the type of investment:
- In the case of investment in real estate, the following must be provided:
- Certification from the Public Registry confirming the applicant’s ownership of the real estate under their name, with a minimum value of USD 300,000. The certification must also state that the property is free of encumbrances.
- If opting to open a time deposit, the applicant must provide:
- A bank certification confirming the establishment of a time deposit account in the applicant’s name. The deposit should be USD 300,000 with a minimum term of three (3) years and must be held with a general license bank within the national territory. This time deposit must be unencumbered.
- A copy of the fixed-term certificate, authenticated by the bank.
- Two letters of responsibility.
If you have dependents, there are extra requirements that need to be submitted.
Step-by-Step Guide to Securing Your Investor Visa: A Practical Approach
This procedure is simple. You can follow the steps below to ensure that your visa runs smoothly from start to finish:
- Application Submission: Visit the National Immigration Service in Panama to file your application. Ensure all necessary documents are included and complete the relevant application form.
- Payment of Fees: Settle the administrative fees required for the investor visa. These fees may fluctuate, so be sure to check the most current costs when you apply.
- Application Review: Once your application is submitted, the National Immigration Service will review your case. This evaluation period typically lasts between 3 and 6 months.
- Visa Issuance: If your application is successful, you will be granted your investor visa. Carefully check the terms and conditions to ensure there are no discrepancies in the document.
Legal Solutions Panama: Skilled Attorneys to Assist You in Obtaining Your Investor Visa
As demonstrated, applying for an investor visa involves meeting numerous requirements. Engaging with legal experts is a beneficial way to initiate this process, and Legal Solutions Panama can provide assistance right from the start.
This group of attorneys is renowned for their comprehensive range of services and extensive experience in guiding clients through visa and immigration processes. To learn more about securing your investor visa with their assistance, visit their webpage and take advantage of a complimentary 30-minute consultation with one of their specialists.