According to a media report of May 1, Panama Immigration signed a resolution which restablishes a special visa granted to those who invest US$40,000 in a forestry project.
Since the visa was abolished by a Law, it is not clear how can a mere Resolution go against a law.
Full text in Spanish http://mensual.prensa.com/mensual/contenido/2006/05/01/hoy/panorama/585678.html
REFORESTACIÓN.
Migración restablece la visa forestal
Sady Tapia
stapia@prensa.com
Immigration Resolution 39 of April 26, 2006, has been enacted to grant the Small Investor Visa to investors in forestry businesses. See Comments for more details.
2 comments:
Immigration Resolution 39 of April 26, 2006, has been enacted to grant the Small Investor Visa to investor in forestry businesses. The application must be submitted along with:
1) Certified check to the order of the National Treasury for US$100,
2) Certified check to the order of the Ministry of Government and Justice for US$500 as refundable repatriation deposit,
3) Certificate of good health,
4) Police record or certificate of disposition,
5) 3 passport-size pictures,
6) Original passport valid for at least 6 months,
7) Certificate of Good Standing of the business, listing the applicant as a director,
8) Secretary Certificate stating that the applicant has invested at least US$40,000 in fully paid shares, notarized and not signed by the applicant,
9) CPA Affidavit stating that the amount is invested directly by the applicant, with copy of the CPA cedula and his accreditation,
10) Copy of share certificates issued to the order of applicant,
11) Authenticated copy of tax return of the company with proof of tax payment (or copy corporate franchise tax for companies less than 1 year old) and proof of Taxpayer Identification Number registration,
12) Authenticated copy of Environmental Authority Resolution granting Forestry Registration to the company,
12) Proof of US$40,000 investment (title certificate of land used for forestry owned by the company, certified copy of checks used to invest in forestry along with invoice, customs clearance forms for equipment used)
After 3 consecutive renewals (or the 4th yearly visa being granted), the definitive residence may be appplied for.
For the Investor Visa, the requirements are the same but the investment US$80,000. After the 1st yearly visa, the definitive residence may be appplied for.
For the full text, see http://www.asamblea.gob.pa/GACETAS/2000/2006/25553_2006.PDF
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