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Panama Reforestation Visa offers 2 options:

1. Panama Reforestation Small Investment Visa with a $60,000 minimum investment and additional requirement of purchasing at least 10 hectares in a government certified reforestation project.  This will be a six (6) year temporary resident visa no longer converted into a permanent residency visa leading to Panama citizenship.  In addition to the named applicant personally making this investment, a corporation can make the investment.  However, if two individuals are the shareholders, then each one must make a minimum $60,000 investment and purchase a minimum 20 hectares.  An additional $2,000 investment must be made for each applicant's dependant applying under th Panama Reforestation Small Investment Visa. Dependants include spouse and children. We must reiterate the disadvantages of the Panama Reforestation Small Investment Visa of minimum $60,000 investment once again: The permissions of temporary residents for the Panama Small Reforestation investment Visa will be for the period of six (6) years, extendable every two (2) years. The applicant can not use this Visa to obtain Panama Permanent Residency or Panama Citizenship.

2. Panama Reforestation Large Investment Visa. This is a permanent Panama Reforestation Residency Visa requiring a minimum $80,000 investment with an additional minimum purchase of five (5) hectares in a Panama government certified reforestation project. This is the only Panama Reforestation Visa leading to Permanent Residency and eventual Panama Citizenship. After a term of two (2) years has elapsed, the applicant will be able to opt for permanent residence. The specific requirements are:

"Foreigners that invest with personal title or through legal entity in activities of reforestation or authorized forest plantation by the National Authority of the Environment, of at least five (5) hectares and whose minimum investment be $80,000 will be able to request this visa."

When using a legal entity, foreigners will be able to request the Panama Reforestation Large Investment Visa for up to two foreigners, provided that they show each one invested $80,000 and purchased five (5) hectares. The omission of this requirement will be cause of cancellation of the application and the obligation to leave the country.

In case of bringing dependents, the investment should be increased by $2,000 for each dependent, which can be justified with a local banking reference.

Visa Program Basic Requirement Benefits   2nd Passport   Open a CD deposit for US$260,000 that produces US$850 interests per month. 2nd passport for travel Residency Tax free import of a car every 2 years One-time tax free import of households up to US$ 10K Discounts on goods and services The CD deposit must be opened at The National Bank of Panama for a minimum period of 5 years. Current Interest rate for  5 years: 4%   Self Sufficient Funds   Option 1: Open a CD deposit of US$300,000 for 3 years in a Panamanian Bank. Permanent residency Right to opt for Panamanian citizenship Option 2: Real Estate investment of US$300,000 (if property value is higher than US$300,000, the applicant is entitled to obtain a mortgage for the remaining amount). Option 3: Mix investment: CD deposit and real estate investment is allowed as long they reach the amount of US$300,000.   Pensionado   Letter from a government pension entity, private pension administration, mutual funds administration stating that the petitioner receives a monthly pension of US$1,000 for life, plus $250 for each dependent. Permanent residency for principals Right to opt for Panamanian citizenship Tax free import of a vehicle every 2 years One-time tax free import of households up to US$ 10K Discounts on goods and services If the petitioner purchases a property of US$100,000 or more, the pension could be of US$750. The combine pension of a marriage can be presented as long as they comply with the minimum amount of US$1,000. If the pension is paid by a private entity, the petitioner must furnished a letter from the mutual administration, pension funds administration stating that the pension are going to be paid for life.   Reforestation   Investment of US$80,000 or more on his name or through a Panamanian corporation in a reforestation project. Permanent residency Right to opt for Panamanian citizenship   Large Investor   Required Investment of US$160,000 through a Panamanian corporation. Permanent residency Right to opt for Panamanian citizenship Type of investment: All investments, excluding activities restricted by Panamanian constitution. Company must be registered at the social security program. 5 Panamanian employees as minimum.

Basic Requirements:

Here are the basic requirements for both Panama Reforestation Visas:

• All visa applications must be processed by a Panamanian lawyer.
• All overseas documents must be authenticated by a Panamanian Consulate nearest you or by Apostille.
• All applicants must provide a Police Clearance report on a police department's letterhead, signed by a police official.
• All documents must be issued no more than 4 months prior to submitting the visa application.
• Passports must have at least 3 months remaining before expiration.
• Dependants can be included with both options.
• Applicant and dependants must present themselves in person to the Immigration office for the initial application and subsequent renewals.
• Initial Application: Expect to be in Panama for 5 business days. After registering and submitting all documents, immigration will issue a 3-month provisional visa.

Panama Reforestation Small Investment VISA:

In addition to the basic requirements established in Article 28 of the Decree Law, the applicant must submit the following documents:

When using a corporation, the following additional requirements must be met:

1. Affidavit by the secretary or treasurer of the corporation (cannot be by the applicant), attesting to the reforestation activities, attesting that the ownership of the nominative shares emitted in favor of the foreign applicant, said shares are free and full, and attesting to the total capital stock;

2. Certification by the Authorized Public Accountant (CPA) detailing the grand total directly invested in the activity of reforestation and that the capital is from the investor;

3. Authentication of the certificate shares in favor of the reforestation investors;

4. Copies of the tax returns of the business, where the invested capital appears.

5. If a fiscal period has not yet lapsed since the creation of the business, a copy of the inscription in the Unique Registration of the Taxpaye;

6. Copies of the resolution by the National Authority of the Environment certifying the Reforestion Project Registration;

7. Original certification of the inscriptions of the business and the property in the Public Registry;

8. Proof that the investment is directly for reforestation activites with a minimum of sixty thousand dollars ($60,000) proven with documents such as:

a. Bank Certification of the funds transfer or of the payment (obligatory);

b. Audited Financial Status;

c. Commercial bills of buying and selling;

d. Documents proving importation of supplies & equipment;

To request an extension, besides the requirements mentioned in the previous article, the applicant should contribute the following documents:

1. Paz y Salvo of the applicant;

2. Bill or other documents that show disbursements performed in the last year for the project of reforestation, or certification of the business carrying out the plan of maintenance that the contract continues in force.

The BusinessPanama Group offers you a One Stop Solution by providing you with the following services:

• All Legal and other services for representing you before Panamanian immigration and other authorities and preparing and filing all documents
• Incorporation of a company
• Legal services
• Buying a property or condominium
• Relocation to Panama
• All necessary contacts and arrangements to identify business opportunities in Panama related to the investment in which you may be interested.

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