Residence visa as a forestry investor

The foreigner who invests, either personally or through a legal entity, a minimum amount of one hundred thousand balboas (B/.100,000.00) in reforestation or forest planting activities, or others authorized by the Ministry of Environment, may apply for this permanent residence visa as a Forest Investor. In the event that the foreigner, either personally or through a legal entity, invests a minimum amount of three hundred and fifty thousand balboas (B/.350,000.00) in reforestation or forest planting activities, or others authorized by the Ministry of Environment, they may automatically qualify for permanent residence.

This visa is granted for a period of two years, and subsequently, upon expiration, the applicant may apply for permanent residence with the right to a permanent resident card issued by the Electoral Tribunal of Panama.

To include dependents, an additional investment of B/. 2,000.00 per dependent must be made, which can be justified by a local bank reference.

The requirements to apply for provisional residence are as follows:

1. Powers of attorney and forms that we will provide for your signature.
2. Five (5) passport-sized photographs.
3. Copy of your passport's complete pages with a minimum validity of three months.
4. Criminal record certificate from the country of origin or residence, duly apostilled or authenticated at the Consulate of Panama in the country where it was issued.
5. Certificate of good health issued by a doctor in Panama.
6. Payment of B/.250.00 to the National Treasury for the right to migratory category. (Certified check)
7. Payment of B/.800.00 to the National Immigration Service for repatriation deposit. (Certified check)
8. In case the investment is made through legal entities, a sworn statement from the secretary or treasurer of the company (cannot be issued by the interested party), accrediting the activities, ownership of nominative shares issued in favor of the foreign applicant duly released and paid, and the amount of the share capital.
9. Certification from the authorized public accountant (CPA) detailing the total amount invested directly in reforestation activities and that the capital belongs to the investor. (The accountant must attach a copy of the ID and professional suitability card).
10. Authenticated copy of the certificate of shares issued in favor of forestry investors, or a commercial relationship contract with the reforestation company, holder of the certificate of shares.
11. Copy of the resolution issued by the Ministry of Environment, of the forestry registry of the natural or legal person.
12. Certificate of existence of the company, issued by the Public Registry of Panama, showing its activities.
13. Certificate of ownership issued by the Public Registry of Panama.
14. Proof of the investment made directly in reforestation activities, for a minimum of one hundred thousand balboas (B/. 100,000.00), which must be demonstrated by presenting a bank certification of the transfer of funds to the reforestation company or its payment.
15. In case of applying for automatic permanent resident status as a Forestry Investor, proof of the investment made directly in reforestation activities for a minimum of three hundred and fifty thousand balboas (B/. 350,000.00), which must be demonstrated by presenting a bank certification of the transfer of funds to the reforestation company or its payment.

To apply for Permanent Residence, the previous requirements will be submitted, except for the Criminal Record Certificate and checks.

Additionally, the foreigner must provide:

1. Certification that the investment is still valid, issued by the reforestation company.
2. Certification issued by the competent authority to issue the forestry registry, validating the existence and validity of the reforestation company.

To maintain Permanent Residence as a Forestry Investor, in any of the terms indicated in Article 180 of Executive Decree No. 320 of August 8, 2008, it is necessary for the investment to be maintained for a minimum period of five years. If the investment ceases or ceases to exist before the completion of this term, it will result in the automatic cancellation of the permanent residence granted by the National Immigration Service.

Additionally, the foreigner must provide:

1. National Tax Clearance Certificate of the company.
2. Copy of the company's income tax return with its corresponding payment receipt. In the income tax return, in the asset section, the line for shares must show the payment for the total shares, which should be a minimum of B/.160,000.00 for the applicant
3. Copy of Payroll 03 submitted to the Ministry of Economy and Finance.
4. Active Social Security Clearance (CSS) in favor of the company.