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 embark on a journey as an investor in the business sector, you might want to consider acquiring an investor residency in Panama. Nonetheless, to successfully secure this kind of visa, it is advisable to have the guidance of legal experts. There are dedicated firms like Legal Solutions Panama, whose team of specialists can assist you throughout the entire process.
What are the objectives of an investor visa in Panama, and how does it benefit foreign nationals?
Under Panamanian legislation, foreign investors are granted the same property and capital rights as native Panamanians. This visa also provides legal residency, enabling investment in real estate, businesses, or fixed deposits, along with access to essential services like education and healthcare in Panama.
This nation is renowned for its robust economy and advantageous business environment, providing investors with prospects to grow their commercial ventures. The simplicity of opening bank accounts and handling international transactions, given its status as a financial hub, is a significant advantage.
Additionally, this visa grants applicants and their families the opportunity to enjoy a high-quality lifestyle in a nation abundant in cultural heritage and biodiversity. The benefits stemming from a political and legal framework that supports foreign investment, along with the chance to acquire Panamanian citizenship after residing there for a certain period, make this permit an appealing choice for foreigners considering Panama.
What are the criteria for securing an investor visa in Panama for citizens of 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, relevant to the notary’s office along with the necessary tax stamps.
- Four passport-sized photos of the applicant.
- A copy of the applicant’s passport.
- An apostilled criminal record certificate of the applicant.
- A health certificate issued by a qualified physician within the Republic of Panama.
- A certified check of USD 250 made payable to the National Treasury, which can be issued by either the applicant or their legal representative. Additionally, the certification cost per check is USD 10.70, which the holder must provide.
- A check for USD 800 payable to the National Immigration Service, also requiring certification; this can be issued by the applicant or their legal representative. The certification cost per check is the same as mentioned previously.
- A Personal Background Affidavit Form. This must be completed and signed by the applicant.
- Documents required vary depending on the type of investment:
- If investing in real estate, the following must be submitted:
- Certification from the Public Registry, confirming real estate ownership under the applicant’s name, valued at a minimum of USD 300,000, free of any encumbrances.
- If opting for a time deposit, the applicant must provide:
- Bank certification verifying the opening of a time deposit account in the applicant’s name, amounting to USD 300,000 with a minimum term of three (3) years at any general license bank in the country, free from encumbrances.
- Copy of the fixed-term certificate, authenticated by the bank.
- Two letters of responsibility.
If you have dependents, you’ll need to account for the extra documentation required.
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 journey 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: Professional attorneys to assist you in obtaining 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.
