Panama has been characterized as one of the countries with the best financial stability outlook for all types of investors today. Both the plurality of its businesses and the business boom have been attractive points for all those interested in undertaking and investing in business.
If you are a United Kingdom citizen and are looking to invest in the business sector, you might want to explore acquiring an entrepreneur residency in Panama. Securing this visa necessitates guidance from legal experts. Specialized firms like Legal Solutions Panama employ a team of professionals ready to assist you throughout every step of the process.
What is the aim 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.
Renowned for its stable economy and advantageous business environment, this country provides investors with numerous opportunities to grow their commercial ventures. The convenience of opening bank accounts and facilitating international transactions, aided by its role as a financial hub, is a significant advantage.
Also, this visa allows applicants and their families to enjoy a quality lifestyle in a country rich in culture and biodiversity. The advantages of the political and legal system favorable to foreign investment, together with the possibility of obtaining Panamanian citizenship after a period of residence, make this permit an attractive option for foreigners in Panama.
What are the necessary steps for acquiring an investor visa in Panama from United Kingdom?
As with all legal processes that must be followed in the country, to secure an investor visa in Panama, a collection of documents must be submitted:
- Power of attorney and application, along with the corresponding notary office procedures and applicable tax stamps.
- Four passport-sized photographs of the applicant.
- A photocopy of the applicant’s passport.
- Criminal record certificate of the applicant, duly apostilled.
- Health certificate from a qualified physician in the Republic of Panama.
- A certified USD 250 check made payable to the National Treasury, either by the applicant or their legal representative. Additionally, the certification cost per check is USD 10.70, which must be covered by the holder.
- Certified check for USD 800 payable to the National Immigration Service, which can be provided by either the applicant or their legal representative. The certification cost per check is the same as mentioned earlier.
- Personal Background Affidavit Form, which must be completed and signed by the applicant.
- Documents required depending on the nature of the investment:
- For real estate investment, the following must be submitted:
- Certification of the Public Registry, which must prove the ownership of the real estate, in the personal title of the applicant with a minimum amount of USD 300,000. Likewise, the certification must indicate that these are free of encumbrances.
- In the case of opening a time deposit, the applicant must provide:
- Bank certification that you have opened a time deposit account in the applicant’s name. The amount must be USD 300,000 and must have a minimum duration of three (3) years; it can be from any general license bank in the national territory. This fixed term must be free of encumbrances.
- Copy of the fixed-term certificate authenticated by the bank.
- Two letters of responsibility.
If you have dependents, you must consider the additional requirements to be presented.
Step-by-step instructions: Your practical guide to securing an investor visa
This process is straightforward. By following the steps outlined below, you can ensure a seamless visa application from beginning to end:
- Application Submission: Visit the National Immigration Service in Panama to submit your application. Ensure you have all the necessary documents and complete the appropriate application form.
- Payment of Fees: Pay the administrative fees required for the investor visa. Verify the current fees as they may change by the time you apply.
- Assessment Process: After submitting your application, the National Immigration Service will evaluate your case. This assessment can take anywhere from 3 to 6 months.
- Visa Issuance: If your application is approved, your investor visa will be issued. Carefully review the terms and conditions and ensure there are no mistakes in the document.
Legal Solutions Panama: expert lawyers to help you obtain your investor visa
As you can see, applying for an investor visa involves meeting several requirements. Starting with legal guidance from professionals in this area is a wise choice, and Legal Solutions Panama is ready to assist you from the very beginning.
This team of lawyers stands out for the breadth of their services and for their years of experience in advising on visa and immigration procedures. If you are interested in knowing more about how to obtain your investor visa with their support, visit their website and get a free 30-minute consultation with one of their experts.
