Real world list of Pensionado Visa requirements

Applying for a Pensionado Visa on behalf of a retiree receiving income above US$1000 monthly from Social Security involves filing the following:

1) Power of attorney and request by the attorney.  Power of attorney must include the information about the applicant (exact address, telephone number...) and full name of parents and nationality.  All the information about the attorney must be specified (Office address, telephone and fax number), complete information of cheques that are provided (number of checks, name of bank, date and amount) of all documents enclosed and the legal basis.  We cannot draft the Power of Attorney without the information requested in that form

2) Police record from the country of origin (only when the applicant has less than two years of continuous residence in Panama) of the applicant (for US citizens, only FBI Criminal History http://www.fbi.gov/about-us/cjis/criminal-history-summary-checks is admitted).

3) "Duly authenticated document, which certifies the following:

 -The applicant's condition as retired or pensioner from a foreign government, international organization or private entities.

 -That the applicant receives a monthly pension of no less than US$1000 or its equivalent in foreign currency, plus US$250 for each dependant

 -In the case of persons retired or receiving a pension from private entities, a document from the corresponding authority certifying the existence of said entity must be submitted" and a Panama bank statement showing the deposits made into the account.

4) Sworn statement about Personal Background signed by the applicant .

A) All documents issued abroad, should be submitted duly apostilled or authenticated by the Embassy or Consulate of Panama in the country that issued it and by the Ministry of Foreign Relations of Panama.

B) All documents issued abroad in language besides Spanish, must be translated by a certified interpreter recognized by the Minister of Government.

Once you arrive to Panama, you must provide :

a) Good Health Certificate from a Panama doctor, issued within the three months before the date of the application (must have date, signature and stamp with the name, signature and registered number of the physician)

b) Two (2) sets of photocopies of the entire passport, to authenticate before a Notary Public.

c) Five (5) recent passport-size pictures.

d) Two sets of copies of all documents submitted, except for the passport.

In addition, the following are required:

C) Every foreigner must be duly registered in Immigration Movement Section for which the following must be submitted:

* Two (2) passport-size pictures

* Copy of the page of general information in the passport and that which contains the last seal of entry into the country

* US$1 for registration

* Answer the registration questionnaire.

D) Once the application is filed and your picture has been taken at Immigration offices, your passport will be surrendered 2 business days for a Return Permit to be stamped.   This will allow you to travel outside of Panama and not have to wait in Panama for approval of your Pensionado visa.

When planning your trip, keep in mind it takes 2 weeks to prepare and translate all documents from the time they are received until you can go to Immigration to have your picture taken as part of the application process.

Upon filing of application, a 12-month application card is granted.   Delays of up to 12 months are taking place with the granting of all residence applications, depending on the nationality.

All applications are subject to the regulatory bodies' approval.  While serious law firms are diligent in following regulations in force, government officials may arbitrarily change rules and demand additional documents at any time during the application process.  Therefore, they cannot guarantee the outcome of each application.  Although Law 38 of 2000 forbids public officials from demanding documents outside those listed in a decree published in the Official Gazette, Immigration officials may demand the following items not listed in the Executive Decree related to Immigration:

a) Responsibility letter by applicant when a dependent is involved, authenticated by Notary,

b) Banking letter from a Panama bank where the pension installments are received.

c) Notarized letter by landlord - or notarized copy of public deed of property owned - showing domicile in Panama,

d) Copy of landlord identification, authenticated by Electoral Tribunal,

e) Notarized copy of utility bill showing domicile in Panama.

Based on applications filed as of June, 2013, and subject to changes

Permanent Resident Visa for 47 countries of US, EU and OECD

Citizens of 47 countries qualify for the Permanent Residence Visa for university graduates holding $5,000 in a Panama bank account and their dependents.  Applicants must start a new business, purchase an existing business or be hired to work for a Panama company.  The countries until now are:

Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, San Marino, Montenegro, Netherlands, New Zealand, Norway, Poland, Portugal, Serbia, Singapore, Slovakia, Spain, South Africa, South Korea, Sweden, Switzerland, Taiwan, United States of America, Uruguay, United Kingdom (Great Britain & Northern Ireland).

A separate work permit is granted by the Labor Ministry which is valid for the duration of the visa.

See also New Permanent Resident Visa for US, EU and OECD countries

New Permanent Resident Visa for US, EU and OECD countries

Executive Order 343 of 16 May 2012 was published in the Official Gazette, "which creates the sub-category of Permanent Resident in the form of foreign nationals from specific countries which maintain friendly, professional, economic, and investment relationships with the Republic of Panama within the immigration category of Permanent Resident."   Citizens of the following countries may apply for this visa:

•Germany

•Argentina

•Australia

•Austria

•Brazil

•Belgium

•Canada

•Spain

•United States

•Slovakia

•France

•Finland

•Netherlands

•Ireland

•Japan

•Norway

•Czech Republic

•Switzerland

•Singapore

•Uruguay

•Chile

•Sweden

 

Applicants must provide bank statement showing at least 4 middle digits "or another which shows their income and is acceptable to the National Immigration Service", as well as police record with Apostille and all other general documents required from immigrants.   Immigration takes currently around 9 months for approval of applications.  All applications must be filed by a lawyer.

 

However, work permits are still granted separately by the Ministry of Labor under the usual categories, with applicants requiring a Panama company or spouse to sponsor their application filed through a lawyer.

Are offshore structures for you?

Private Interest Foundations

The private foundations were born some years ago in Panama , in order to give the offshore users a new approach, a more civil and familiar approach.

They have the same Tax and Registry principles, but with a civil oriented system.

The foundations can sign and negotiate commercial contracts eventually and they are not subject to income tax when the income was produced outside Panamanian territory.

The Panama Private Foundation (hereinafter known as PIF) has its origins in the Law 25 of 1995, which in turn was inspired in the PGR or better known as the “Liechtenstein Persons and Company Act”, which contains one of the first references to the private non profit foundations. In Panama, this and the most recent innovations in the Anglo-Saxon Trust enabled the creation of the Private Foundation utilizing the best features and characteristics of both worlds.

A PIF is a legal entity that can be created by either a natural person or a corporation that later transfers part or all of his/her assets to the Private Foundation so they can be managed and protected in favour of the Beneficiaries.

Among the features of the Panamanian Private Foundations we find:

• Quick registration 24-72 hours;
• They provide a fiduciary structure for the orderly transfer and disposition of assets to beneficiaries upon the death of the Founder, keeping control of the assets during lifetime;
• They may be established to have effects from the date of their constitution or after the death of the Founder; According to Law 25 of 1995, inheritance laws that apply in the domicile of the Founder or the Beneficiaries, shall not be effective against the Foundations assets nor may these laws affect the validity or performance of the Foundations objectives;
• Foundations are established to carry the specifics goals set out in the Foundation Charter and may additionally undertake sporadic commercial activities, exercise rights pertaining to their holdings, own property, contract obligations and take part in administrative or judicial proceedings.
• A Private Interest Foundation should be established with a patrimony destined to fulfill its objectives, which shall be no less than US$10,000.00.
• Said patrimony may be increased by additional contributions of the Founder or third parties and does not have to paid in part or in full before the incorporation;
• The assets of the Foundation become legally independent and do not form a part of the private estate of the Founder. Such assets are not sizeable and may not be subject to any precautory action or measure, unless such action or measure pertains to obligations incurred or damages arising from the fulfillment of the Foundations objectives.

Notwithstanding the creditors of the Founder or of a third party shall have the right to contest the contribution or transfer of assets to a foundation when such transfer constitutes an act in fraud of the creditors. The rights and actions of such creditors shall lapse at the expiration of three (3) years, counted from the date of the contribution or transfer of the assets to the foundation was done.

According to article 27 of Law 25 of 1995, Private Interest Foundations are exempt from payment of any taxes, contributions, duties, liens or assessments of any kind arising from the acts of constitution, amendment or extinction of the same, as well as acts of transfer or encumbrance of the Foundations assets and the income arising thereof, when related to:

• Assets located abroad;
• Money deposited by natural or juridical persons whose income does not derive from a Panamanian source is not taxable in Panama for any reason;
• Shares or securities of any kind issued by corporations which income is not derived from a Panama source, or which are not taxable for any reason, even when such shares or securities are deposited in the Republic of Panama.
• The transfer of unmovable property, titles, certificates of deposits, assets, funds, securities or shares carried out by reason of the fulfillment of the objectives of the foundation or the termination of the same, in favor of relatives within the first degree of consanguinity or the spouse of the Founder shall also be exempted from all Panama taxes.

Among the most important uses of the Panamanian Private Foundations we find:

• Family and family office support
• For Tax purposes
• For the protection and management of assets
• For educational purposes Testamentary purposes
• For life annuity purposes
• For charitable purposes
• To receive and manage capital and titles
• For the purpose of serving as guarantee or collateral
• For the management of insurance.

We must comment that several or all uses mentioned above can be given to a particular PIF, there are no restrictions as to the objects or uses one PIF can be given. For example, one PIF can be created to protect assets, but also with a testamentary use or in any case, with all the above-mentioned uses. However, a PIF cannot engage in commercial or for profit activities as a day-to-day activity.

Panama

Panamanian offshore corporations are an easy vehicle to negotiate and close deals.
The simple and yet formal provisions of the Law, render the users to trust the system. The amendments necessary to close one deal are quickly done by registering them at the Public Registry Office, and since it is a government institution, the certificates and Apostilles are easy to obtain in order to sign a contract in a short period of time.

Directors of the companies do not necessarily have to be shareholders and vice versa. Panamanian companies are not bound to issue shares. Powers of Attorneys may or may not be registered in the Public Registry Office.

For over seventy five (75) years the Panamanian offshore corporations has been recognized worldwide as a suitable offshore vehicle and with the proper legal advice can be utilized in a diversity of structures to conduct international business, asset protection, and estate planning, among others.

Among the most important features of the Panamanian offshore corporations we can mention:

• Quick registration in 24 to 48 hours.
• The Panamanian offshore corporations can be registered notwithstanding the nationality of its directors or shareholders.
• The income produced by a Panamanian offshore corporations outside the territory of the Republic of Panama is exempt of paying Income Tax in Panama.
• The capital of the company does not have to be paid partially or fully at the moment of incorporation.
• There is no obligation to file annual reports, financial statements or sworn income declarations, always that the company does not generate Panamanian sourced income.
• Legal entities of any country can be appointed as directors, officer or shareholder.
• There is no obligation to undertake annual meetings of the Board of Directors or Shareholders.
• The directors and shareholders can meet in person, by Proxy, phone or by any other electronic means.
• Three (3) directors are required, either physical persons or legal entities of any nationality.
• The officers (usually a President, a Secretary and a Treasurer) not necessarily have to be directors and one person can occupy one or more or all offices.
• The officers can be either physical persons or legal entities.
• The shares can be issued in nominative or bearer form.
• In any case, the name of the shareholder is not required to be registered at the Public Registry, so confidentiality is ensured.
• The corporate books can be kept in any part of the world and can be managed by electronic files or program.
• A Panamanian offshore corporations can do transactions and own assets in any part of the world, without having the obligation to maintain assets in the Republic of Panama.
• The Panamanian offshore corporations can undertake any type of legal business activity in any part of the world.
• The use of the Apostille is permitted.

Among the most important uses of the Panamanian offshore corporations we can find:

• As a holding entity for shares, bonds, bank accounts, term deposits, investment projects or any other financial or commercial title.
• Owner of shares in other companies, be them Panamanian or foreign.
• Owner of property, such as apartments, lots, houses or any other asset, be them personal or real estate.
• Manager or promoter of international commercial transactions.
• International lease of aircraft, vehicles, machinery, vessels and others.
• Instrument to receive and deliver loans in cash or commissions for products and services.
• Marketing and promotion of products and services.
• Other financial or commercial activities.

Belize

Belize 's modern and up-to-date offshore legislation provides maximum flexibility in global asset protection and tax and investment planning.

Particular features of the Belize international business companies are:

• Registration is quite fast as you can have your company registered in one (1) hour.
• Conducts its trading and business outside of Belize.
• Tax exempt from, the payment of all forms of local taxation, the payment of stamp duties for transactions in respect of its shares and debt obligations or other securities.
• Absence of exchange control.
• Disclosure of the beneficial owner(s) is not required;
• share register may be inspected only by a shareholder;
• nominee shareholders and bearer shares are permitted;
• assets are protected from confiscation or expropriation orders or similar actions by foreign governments.
• Security and Confidentiality.
• Only the Memorandum and Articles of Association are required for public records;
• the registration and deregistration of Registers of Directors, Members, and Mortgages and Charges is optional.
• No minimum capital is required.
• No audit of accounts is required.
• No filing of annual returns is required.
• Only one shareholder and one director are required, who may be a legal entity.
• No company secretary is required.
• No annual general meeting is required, meetings may be held outside of Belize , and attendants may be present therein by telephone or other electronic means.
• Shares may be issued with or without par value and in any currency.
• Re-domiciliation into and out of Belize is permitted, registration in any foreign language is permitted.

Additional reporting compliance may be required from entities doing business with local clients inside said jurisdictions, as well as from shareholders and/or beneficiaries resident in some jurisdiction. Advice from a tax attorney and accountant in your country of citizenship and residence must be sought before using offshore entities.

---

Contact Us through our website, by email, Bitwine or Skype

Immigrant Visa and Residence Permit granted to foreigners married to a Panamanian citizen

Immigrant Visa and Residence Permit granted to aliens married to a Panamanian citizen.
Visa Code VI-2

Who may apply to this visa?

This visa is granted to those foreigners that are married to a Panamanian citizen and live normally together, stably and continuously with their spouse. The interested party must prove to the National Directorate of Immigration and Naturalization, that it is a real marriage and not one of “convenience” neither a “false” marriage arranged in order to obtain the migratory status. The person that by means of a false marriage tries to obtain a migratory status can be subject of penal actions, furthermore, the request will be denied or the granted permit will be revoked, and the immediate departure of the country by the foreigner will be requested. In addition, it is informed that the omission or act of providing false information in the Sworn Background Declaration can have legal implications, and the verification of this issue is a reason for denying the visa requested as well as the resident permit.

Processing time frame: 2 to 4 months until it is granted, depending on the date and the results of the marriage interview, and other necessary admissible evidence.


REQUIREMENTS:

Foreigner

At the presentation of the documents, a three months temporary carnet is issued and at the time of the approval of the request a provisional one year permanent carnet is issued. The costs of the carnets will be paid by the interest party as well as the B/10.00 fiscal stamp for those foreigners’ citizens that require visa.

Power of Attorney and requests through a lawyer [Power of Attorney must include the general information of the interested party company (exact address, name, nationality, name and parent’s nationality, telephone numbers and e-mail address. The general information related to the lawyer must be specified (office’s address, telephone’s numbers, fax’s number and e-mail address). The general information of the attached checks (check number, bank name, date and amount) listing and identification of the attached documents and expounded the real and legal facts of the request. The Power of Attorney must be personally presented before the National Directorate of Immigration and Naturalization officer or with an authenticated note before a Public Notary. The power of attorney, as well as the request must have a B/4.00 per page legal stamp or postage (Four Balboas per page)

Certified or cashier’s check in the amount of B/ 100.00 in favour of “Tesoro Nacional” (National Treasury).

Good Health Medical Certificate [: issued within the three (3) months prior to the presentation date (it must have date, signature and seal with the doctor’s name, including the code and registration number of the physician.]

Penal and police record issued by the previous country of residence of the petitioner within the last two years, ( if the interested party has been in Panama for the last two or more years on a consecutive time, this document will not be necessary).

Passport issued by country of origin [... with a minimum of six months validity time]

Complete copy of passport

Two (2) carnet size photos [...updated (no hats or veils and front face)

Marriage certificate issued by the Civil Registry [... this must be issued within the previous six months before the date of presentation of the document and must include the proper fiscal stamps. If the marriage occurred abroad it must be properly registered at the Civil Register of Panama]

Birth certificate of the Panamanian spouse issued by the Civil Registry [... this must be issued within the previous six months before the date of presentation of the document and must bear the proper fiscal stamps.]

Birth certificate of children [...Panamanians, if there are, with their proper fiscal stamp.]

Present personal identification card of the spouse [...Panamanian, authenticated by Civil Register . . .]

Letter of responsibility from the spouse [...Panamanian, signed, where he/her is obligated to cover all the foreigner expenses and of the repatriation, if needed . . .]

For the male, resolution issued by the Ministry of Labour and Labour Development (MITRADEL) where it authorizes the interested party to work in the national territory with a status of married to a Panamanian. In case of not having it at the time of the presentation of the permit of residency request at Immigration, certifications stating that the negotiation of this permission is in process at MITRADEL can be presented, or a simple copy of the Power of Attorney and a request issued by the lawyer addressed to MITRADEL. In this case, the work permit remains pending in order to continue the visa procedure. If the work permit is denied the visa permit also will be denied. [...if the foreigner is retired or a pensioner and proves such condition with the correspondent certification, the labour permit is not required . . .]

For the female, a document that proves her source of income is sufficient to fund her expenses within the territory of Panama, such as payroll check vouchers, social security vouchers from her husband or another source that proves how she can fund her expenses. [.if she works to support herself, she must presents her labour permit or copy of the request presented to MITRADEL.]

Marital interview [. . . the day of the request presentation before the Legal Department, you will be informed about the date in which you must appear with your spouse for an interview. In the case of not showing up at the given date, another interview won’t be granted. ]

Legal Base:
Articles 14, 25, and 35 of the Law-Decree No.16 June 30 of 1960, Law-Decree No.13 of September 20 of 1965, 6th Law of March 5 of 1980 and Executive Decree No.52 of February 19 of 2003.

Comments:
In case that the request includes dependents (if the foreigner has dependent children or parents, that are within the familiar nucleus) the requirements for Immigrant’s Visa within the Resident’s Dependent Status must be included, proving the relationship and that the resident has the proper economic solvency as stated on the Executive Decree No. 52 of February of 2003 (a B/ 500.00 monthly income plus B/75.00 per each dependent). It Should be considered that the petitioner included as a dependent of a resident, will not be qualified for a work permit.

In the case in which the spouses or one of them is abroad and belongs to a nationality that for any migratory policy reason is requested to comply with the Authorized or Consulted Visa, the petitioner must comply with Article 11 of Executive Decree 52 of February 19 of 2003, which requires a minimum of six months living together after the marriage celebration and with other applicable dispositions related to restricted visas.

Opening hours to the public:
Monday through Friday 7:30 am – 1:30 p.m.

Address:
29th Street and Cuba Avenue
Central Phone Numbers: (507) 507-1800


--------------------------------------------------------------------------------
Copyright © 2007. National Directorate of Immigration and Naturalization. All rights reserved.

When in doubt, get an Apostille

Panama Immigration clearly says it:
A) All documents issued abroad, should be submitted duly apostilled or authenticated by the Embassy or Consulate of Panama in the country that issued it and by the Ministry of Foreign Relations of Panama. B) All documents issued abroad in language besides Spanish, must be translated by a certified interpreter recognized by the Minister of Justice.

The Apostille is demanded in Panama for foreign Police Records (even if you are an angel and have never been convicted), Birth certificates, Marriage certificates, Social Security letters, and lately even letters of reference from banks.

U.S. State Department explains:
Documents issued in one country which need to be used in another country must be "authenticated" or "legalized" before they can be recognized as valid in the foreign country. This is a process in which various seals are placed on the document. Such documents range from powers of attorney, affidavits, birth, death and marriages records, incorporation papers, deeds, patent applications, home studies and other legal papers. The number and type of authentication certificates you will need to obtain depend on the nature of the document and whether or not the foreign country is a party to the multilateral treaty on "legalization" of documents. (A) If your document is intended for use in a country which is a party to a treaty called the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents ("Hague Legalization Convention") (countries listed below), obtaining a special "apostille" certificate is generally all that is required.

US federal documents (such as a Social Security letter) may be authenticated only by the US State Department. However, other documents which a have a notary signature are authenticated by the Department of State of each individual state. The same may apply in federal nations like Canada, Australia and Germany.*

You can get the Apostille by yourself using a self-addressed stamped envelope and paying by check, or a privately-owned notary service.

Once you are in Panama, the Embassy of your country cannot issue an Apostille for your document. This has to be done BEFORE you arrive to Panama.

For more information, see:
US State Department Authentication of Federal documents
US State Department List of State Authentication Authorities*
Wikipedia Guide to Apostille

If you want to just forget about the whole Apostille thing, you can take your chances with the list of Panama consuls in Panamatramita.gob.pa. Call them up first to figure out if it is better to deliver the document yourself in person, or if they can handle return postage. If they lose your document, there is no authority you can complain to!

*If there is a country you would like us to cover, email us and we will post the link to its Apostille instructions.

Reforestation visa requirements

After many expats were left in a Kafkian limbo with the abrogation of Reforestation visas, they made a comeback under a special version of the US$40K Micro-Business Investor visa and now somewhat - official rules are in force.

However, 3 renewals of the first 1-year visa are still necessary to apply for a permanent residence (or 4 renewals if you want to be straightforward). This is something the Immigration English site does not clarify, but is published in the Spanish version of the e-government site and in our blog comments. Only when the investment exceeds US$80K can permanent residency be applied for at the end of the 1st immigrant visa. The investment must be made directly, and not by buying stock in a reforestation company.

Immigrant visa and Residence permit granting a Forest Investor of a Micro Business. VIFOR. 1

Who may apply to this immigrant visa?

Foreigners may apply to this immigrant visa and the corresponding permission of residence, who invest in direct form in the activities of reforestation as natural persons or through a legal person when the investment is no less than 40.000.00 (Forty Thousand “Balboas”).

The foreign applicant must prove to the National Directorate of Immigration and Naturalization the source of founds that he has effectively invested in the plantation of forest species for commercial, environmental, tourist aims or others. When the Immigrant visa has been approved, the foreigner receives a permission of residency for one year and when the same is expiring, the petitioner can request for a definitive permanency.

Only a single foreigner and its employees by company will be admitted and the attempt of violation or the violation of this requirement will bring as a consequence the refusal of the request and the obligation to leave the country.

Note:

• All foreign citizens, that approaches the Directorate of Immigration to perform any procedure, must be previously registered in the Migratory Movement’s Section, whereto has to fulfil the following requirements:
  1. Present two (2) carnet size photos
  2. Present a copy of the page of the passport that containing the general information about him or (her) and copy of the page that shows the seal of the last entry to our country.
  3. Payment of the registration fee.
  4. Complete the register form of the Sworn Statement

• In the case that the request includes dependents, the requirements for the Immigrant’s Visa as a Resident Dependent must be included.
• All documents issued abroad, must be properly annotated or authenticated by the Republic of Panama Embassy or Consulate at the country that issued them, and by the Ministry of Foreign Affairs of Panama.
• All documents issued abroad that are not written in the Spanish Language, must be translated by an Official Public Translator certified by the Ministry of Government and Justice.
• All foreign residents, temporary visitors or alien citizens present in the country with an application being processed that wishes to go abroad and re-enter the country, requires from the National Directorate of Immigration and Naturalization a MULTIPLE INCOMING VISA BEFORE LEAVING THE COUNTRY. The omission of this procedure will incur a One Hundred Balboa fine (B/100.00).
• One month before the termination of the one year Residence Permit that is granted with the Immigrant Visa, the petitioner may apply for the Permanent Residence, with the right to apply for a Panamanian Cedula (I.D. Card)
• All those nationalities that require a Consulted Visa must present with any request, a VALID VISA CERTIFICATION TO PROCESS A RESIDENCE, issued by the Consulted Visa Department of the National Directorate of Immigration and Naturalization.
• The Sworn Declaration must be made in the form supplied by the Directorate of Immigration and Naturalization. This form must be signed by the interested party and be completed in full. To furnish false information carries penal and legal responsibilities and the refusal of the requested visa or its cancellation if already granted. Under age foreigners don’t have to complete this form, but parents or tutors must provide the requested information, although not under the gravity of oath.

The documentation must be COMPLETE at the time of presentation, and in the expressed following order. Small documents such as, birth certificates, health certificates, receipts, etc, must be added to a legal size paper and both faces of the abovementioned documents must be clearly seen, in order to be properly received.

REQUIREMENTS:

Foreigner

At the time of the document presentation, a temporary valid carnet for three months is issued and when the petition is approved a temporary resident carnet for one year is issued. At due time of the previous mentioned carnet, two successive extends can be requested, and if they are approved then a carnet for a validity of two years is issued. The costs of the carnets will be paid by the interested party as well as a B/10.00 fiscal stamp for those foreigners citizens that require visa.

Power of attorney and petition by means of a lawyer [ ... The power of attorney must be presented personally before a Public Notary or at the Receipt of documents for immigrants Section at the Directorate of Migration. It must include the general information of the foreign petitioner (full name, nationality, passport exact address, telephone numbers) as well as the parents full name, nationality and exact address. Also, all the general information of the lawyer must be given (office’s address, fax number, telephone number, e mail address) Within the request, in addition to the complete general information of the principal and the empowered, the complete information of attached check must be stated (check number, drawing bank’s name, date and amount), all the attached supporting documents must be listed, and quote the legal bases that support the request and explain the type of commercial activity that the company will develop. The power of attorney, as well as the request must have a stamp or seal for B/. 4.00 per page. ]

Certified or cashier’s check in the amount of B/. 100.00 in favour of the “Tesoro Nacional” (National Treasury).

Certified or cashier’s check in the amount of B/. 500.00 in favour of the “Ministerio de Gobierno y Justicia” (Ministry of Government and Justice) as a repatriation’s deposit [applicable to persons older than 12 years]

Medical Certificate of Good Health [: issued within the three (3) months prior to the presentation date (it must have date, signature and seal with the doctor’s name, including the code and registration number of the physician. ]

Penal and police record issued by the previous country of residence of the petitioner within the last two years, ( if the interested party has been in Panama for the last two or more years on a consecutive time, this document will not be necessary).

Passport issued by country origin [ .. with a minimum of six months validity time]

Complete copy of passport.

Two (2) carnet size photos [..updated (no hats or veils and front face)

Public Registry Certification: [: in which the legal representation, authorized share capital and the way the shares are divided is shown (shares must be nominative), the physical address and dignitaries and directors names must appear, to which the petitioner must belong. At the same time, the legal representative name and empowered, if any, has to be included.

Certification of the Secretary or Treasurer of the company, whereby the title of the shares issued in favour of the foreign applicant are credited and stating that the shares are released and properly paid (the shares must be of a minimum value of B/.40,000.00). The certification must be signed before Public Notary and it does not have to be subscribed by the interested party.

Certification of a Certified Public Accountant (CPA), where the total direct invested amount in the forestal activity by the petitioner is detailed, certifying that the investor owns the capital. The C.P.A. must attach copy of his or her identification card and the C.P.A.´s carnet.

Copy of the share certificate or certificates issued to the forestal investor.

Authenticated copy by the Ministry of Economy and Finance [.. of the Income tax form along with its payment receipts. If a yearly fiscal period has not concluded since the starting of operations of the company, instead of the income tax form, a copy of the Taxpayer Registry (Registro Unico) along with the original receipt must be supplied to be compared. ]

Authenticated photocopy [.. of the National Authority of Environment’s resolution where the legal entity or the foreigner was approved to be registered in the Forest Registry. ]

Proof of the investment made [... in a direct form in reforestation activities, by a minimum of B/. 40,000.00 (forty thousand B/ 80.000.00 “Balboas”) which can be demonstrated with documents such as: certificate of the Public Registry issued in the name of the interested party, in which the inscription of the property that will be destined to the reforestation is registered, authenticated photocopy of the checks that were made as investment in reforestation, with paid seal of the Bank and the corresponding invoice, customs liquidations of machinery to be used in the reforestation project or another document that certainly proves the investment made in reforestation ]

Complete the form of Sworn Declaration of Personal Background

Legal Basis:

Articles 23^rd. and 26^th of the Law-Decree 16 of June 30 of 1960.

National Directorate of Migration and Naturalization’s Resolution Nº 039 of April 27^th. of 2006. Official Newspaper No. 2555. (Gaceta Oficial)

Comments:

If the petition includes dependants, the investment should be an additional B/4,000.00 per dependant and must comply with the conditions of Resident’s Dependent Visa.

Small Business Investor Visa: only for the "people person"

Wow! Open up a Panama corporation for the price of a car and get a resident visa! Sounds good? Too good... just read the fine print. This visa is for you only if you want to have labor headaches with local workers ...

Visa of Immigrant and Permission of Residence granting status as a micro business Investor. KEY: VIPEM.

Who may apply to this immigrant visa?

The foreigner who wishes to establish its residence in the Republic of Panama, immigrating with an investor’s status and whom by the amount of the investment qualifies as a micro enterprise investor. The investment to be made must be direct in the company that is constituted, and with a minimum share capital of Forty Thousand Balboas (B/. 40.000) and up to a maximum of One hundred Fifty Thousand Balboas (B/. 150,000). The foreigner must be the shareholder and dignitary of the company, which in addition, must have an initial list of three (3) Panamanian workers, working fulltime and earning a wage not inferior than the minimum established by Law for each region of the country, specifying the position or activity that each one performs.

The company must register its employees in the Social Security System, thus complying with the legal obligations in respect to the social issues. It is important that the foreign investor considers that at the time of asking for the visa extension, after exceeding the provisional permission that is issued with Immigrant’s Visa, he/she will have to prove that it has fulfilled the commitment to contract Panamanian personnel and to be up-to-date in the payment of the obligations towards the Social Security.

The foreigner who applies to this visa must be the holder of the shares that show a minimum investment of Forty Thousand Balboas (B/. 40.000,00).

When the Immigrant’s visa is approved, the foreigner receives a residency permit for one year and when the same is coming to conclusion, the petitioner must ask an extension every year until three (3) consecutive years. At the due time of the third extension, the petitioner will be able to ask for the definitive permanence, with right to a Panamanian Cedula (I.D. Card). This adds up to five (5) requests.

Only a single foreigner and its dependents will be admitted by corporation, and the attempt of violation or the violation of this requirement will amount to the consequence of the refusal of the request, and the obligation to leave the country. The activities to which the company is dedicated must be expressed in the license or the commercial registry.

Processing time frame: 3 to 4 months to obtain Visa de Immigrant’s (document granted for a year).

Note:

• All foreign citizens, that approaches the Directorate of Immigration to perform any procedure, must be previously registered in the Migratory Movement’s Section, whereto has to fulfil the following requirements:
  1. Present two (2) carnet size photos
  2. Present a copy of the page of the passport that containing the general information about him or (her) and copy of the page that shows the seal of the last entry to our country.
  3. Payment of the registration fee.
  4. Complete the register form of the Sworn Statement

• In the case that the request includes dependents, the requirements for the Immigrant’s Visa as a Resident Dependent must be included.

• All documents issued abroad, must be properly annotated or authenticated by the Republic of Panama Embassy or Consulate at the country that issued them, and by the Ministry of Foreign Affairs of Panama.

• All documents issued abroad that are not written in the Spanish Language, must be translated by an Official Public Translator certified by the Ministry of Government and Justice.

• All foreign residents, temporary visitors or alien citizens present in the country with an application being processed that wishes to go abroad and re-enter the country, requires from the National Directorate of Immigration and Naturalization a MULTIPLE INCOMING VISA BEFORE LEAVING THE COUNTRY. The omission of this procedure will incur a One Hundred Balboa fine (B/100.00).

• One month before the termination of the one year Residence Permit that is granted with the Immigrant Visa, the petitioner may apply for the Permanent Residence, with the right to apply for a Panamanian Cedula (I.D. Card)

• All those nationalities that require a Consulted Visa must present with any request, a VALID VISA CERTIFICATION TO PROCESS A RESIDENCE, issued by the Consulted Visa Department of the National Directorate of Immigration and Naturalization.

• The Sworn Declaration must be made in the form supplied by the Directorate of Immigration and Naturalization. This form must be signed by the interested party and be completed in full. To furnish false information carries penal and legal responsibilities and the refusal of the requested visa or its cancellation if already granted. Under age foreigners don’t have to complete this form, but parents or tutors must provide the requested information, although not under the gravity of oath.

The documentation must be COMPLETE at the time of presentation, and in the expressed following order. Small documents such as, birth certificates, health certificates, receipts, etc, must be added to a legal size paper and both faces of the abovementioned documents must be clearly seen, in order to be properly received.

REQUIREMENTS:

Foreigner
At the presentation of the documents, a three month temporary carnet is issued and at the time of the approval of the request, a provisional one year permanent carnet is issued. The costs of the carnets will be paid by the interested party as well as the B/. 10.00 fiscal stamps for those nationalities that require a visa.

• Power of Attorney and request through a lawyer. (Certified or a Legal Firm. The Power of Attorney must be granted before a Public Notary or personal presented by the visa’s petitioners before the Directorate of Migration and Naturalization (head of family and dependants of legal age. The parent that requests the visa should grant the power of attorney in behalf of the legal under age children). This must include the complete general information of the interested parties, including the complete name and nationality of the parents. Also, the lawyer’s general information must be specified (office’s address, telephone number, e-mail address). Within the petition, as well as all the general information of the principal and the empowered, the complete information of the attached checks must be specified (check number, drawing bank’s name, date and amount). All the attached supporting documents must be identified and listed, and quote the facts and legal fundaments that sustain the request.
• The power of attorney, as well as the request must be stamp or seal with B/4.00 per page. ]
  
• Certified or cashiers check in the amount of B/ 100.00 in favour of the “Tesoro Nacional” (National Treasury).
  
• Medical Certificate of Good Health [: issued within the three (3) months prior to the presentation date (it must have date, signature and seal with the doctor’s name, including the code and registration number of the physician. ]
  
• Penal and police record issued by the previous country of residence of the petitioner within the last two years, ( if the interested party has been in Panama for the last two or more years on a consecutive time, this document will not be necessary).
  
• Passport issued by the country of origin [ .. with a minimum of six months validity time]
  Complete copy of passport
  
• Two (2) carnet size photos [..updated (no hats or veils and front face)
  
• Certificate of Juridical Person issued by the Public Registry, that confirms the following: the corporate name of the company, the directors and dignitaries of the company, the name of the legal or empowered representative (if it has one), the issued capital stock of the company (that must be a minimum of B/. 40,000.01), type of shares and the distribution of the capital stock. The petitioner must be the director and dignitary of the company.
  
• Certification of the Secretary or Treasurer of the company, where it states the title of the shares issued in favour of the foreign applicant and that the shares are properly released and paid (the shares must be of a minimum value of B/.40,000.01). The certification must be signed before a Public Notary and shouldn’t be subscribed by the interested party.
• 
  Certification of the corporation’s Certified Public Accountant (CPA), stating the titles of the shares credited to the foreigner petitioner and indicating that those shares are properly released and paid (the shares must be of a minimum value of B/40,000.01) (Attach document certifying the legal capability of the C.P.A.
• 
  Declaration rendered by the petitioner before a Public Notary, in which the amount of the invested capital is indicated, as well as the amount of the owned shares and that they are released and paid (with a minimum value of B/.40,000.01), it must also mention the detailed commercial activities performed by the company.
  
  Authenticated copy by the Ministry of Economy and Finance, of the sworn Income tax form along with its payment receipts (only in the case in which the company has been constituted and has operated several months before the date of presentation of the sworn income tax form for the present year). Within the Income tax form (in the equity section, where it mentions shares) the total payment of the shares owned by the foreign petitioner of the visa must be registered (that should be more than B/.40,000.01)
• 
  If the company is of recent incorporation, the application must include a copy of the paid “Tasa Unica” and the Taxpayer Personal Register (R.U.C.) duly collated by the Ministry of Economy and Finance.
  
  
• Copy authenticated by Caja de Seguro Social (Social Security) of the company’s payroll, which specifies a minimum of (3) three Panamanian employees, earning salaries no lower than the minimum wage established by law according to the region and position. (It must correspond to a payment made during the last months prior to the presentation of the application)
• Social Security’s goodstanding [ in behalf of the company and with minimum of three (3) months validity.
• Proof of investment [Can be demonstrated by presenting at least three of the following documents: Real State Buy/Sell Agreement of the place where the company operates or is located. Photocopy of bank’s deposit slip authenticated by the bank, showing the invested amount on behalf of the company, Document issued by a bank certifying that the amount invested by the foreign petitioner comes from abroad. Commercial invoices of the expenses incurred by the investor in favour of the company, along with a detailed inventory certified by a C.P.A; Customs forms that show the paid taxes for imported assets in the name of the company or the investor. Any other document that can prove the capital invested on the company]
• Proof of location and existence of the company [ ( supply a minimum of three proofs). – Rental agreement of the commercial location, where the headquarter or office of the business operates, dully registered before the Ministry of Housing (in the case it is not an owned place). Electric Energy Sservice Agreement – Phone Sservice Agreement - Water supply agreement – Security services agreement – Garbage services agreement – ITBM tax payment (added value tax) to the Ministry of Economic and Finances – Internet services agreement.
• Sworn declaration about personal background [ form supplied by the Directorate of Migration and Naturalization
• Copy of the Commercial Licence [ ..or industrial licence of the business, (It must be type “A” that covers the wholesales commercial activities or industrial licence)
• Photocopy of the Shares certificates.

Legal Base:
Law Decree No.16 of 30 of June of 1960, Law No.47 of 31 of August of 1999 and Resolution 10,386 of October of 2003, Law No. 8 of March 29 of 2000.

Comments:
The National Directorate of Immigration and Naturalization has the power to inspect the company to verify its address, existence and function according to the established policies.

Pensionado / Rentista Visas #2

This is the official list of requirements, as posted in http://www.migracion.gob.pa/eng/service_popup.php?id=52 on October 15, 2007:

Indefinite Residence Permit in capacity as Pensioned Tourist To grant an indefinite residence permit in capacity as Pensioned Tourist. Who may request this Permanent Residence Permit? A person retired from a foreign government or private company earning a permanent minimum income of Five Hundred American Dollars ($500.00) or its equivalent. If the person coming with dependents, an additional One Hundred (U$100.00) monthly is obligatory per each dependant. The law grants, in addition to the indefinite residence permit, tax franchises to import households or personal items once, up to the total amount of $10,000.00 (Ten Thousand Dollars), and an automobile for personal use every two years. Note: All foreign citizens, that approach the National Directorate of Immigration and Naturalization to perform any procedure, must be previously registered in the Migratory Movement Section, presenting the following requirements: Two (2) carnet size photos Copy of the pages of the passport that contain the general information about the petitioner and the page that shows the stamp of the last entry to our country. Pay fee for registration. Complete the registration form of the Sworn Statement. In the case that the request includes dependents, the requirements for the Immigrant Visa as a Resident’s Dependent must be included. All documents issued abroad, must be properly annotated or authenticated by the Republic of Panama Embassy or Consulate at the country that issued them and by the Ministry of Foreign Affairs of Panama. All documents issued abroad that are not written in the Spanish Language, must be translated by an Official Public Translator recognized by the Ministry of Government and Justice or Ministry of Education. All foreign residents, temporary visitors or with an application being processed, that wishes to go abroad and re-enter the country, requires from the National Directorate of Immigration and Naturalization a MULTIPLE VISA BEFORE LEAVING THE COUNTRY. The omission of this procedure will incur a One Hundred Balboa fine (B/100.00). Countries that require a Consulted Visa, have to present with the petition a Certification that authorizes them to apply for a temporary residence visa, issued by the Department of Consulted Visas of the National Directorate of Immigration and Naturalization. The Sworn Declaration is a form supplied by the National Directorate of Immigration and Naturalization. This must be signed by the interested party and be completed in full. Providing false information may lead to penal and legal responsibilities and the negation of the requested visa or the annulment, if already granted. The foreigners who are under age don’t have to fill out the form, but their parents or tutor must give the requested information, although not under the gravity of oath. The documentation must be presented COMPLETE and in the following order. Small documents such as, birth certificates, health certificates, receipts, etc., must be added to a legal size paper and both faces of the abovementioned documents must be clearly seen, in order to be properly received. REQUIREMENTS: Foreigners: At the presentation of the documents, a three months temporary carnet is issued and at the time of the approval of the request an indefinite residence carnet is issued. The costs of the carnets will be paid by the interest party. Power of attorney and request by means of a lawyer: The Power of Attorney must be presented before a Public Notary or personally before the Directorate of Migration and Naturalization by the visa applicant ( if it is only one person) or by all the over age components of the family group (head of family and dependents). This must show the complete general information of the interested parties, including full name and parent’s nationality. In addition, it must specify all the general information of the lawyer of the applicant and dependents, including office’s address, domicile at the Republic of Panama, telephone numbers and e mail. Also the complete information of attached checks must be given (check number, drawing bank’s name, date and amount). List and identify the attached documents, as well as expressing the legal grounds in which you base the petition Health Medical Certificate […issued within the three (3) months prior to the presentation date (it must have the date, signature and seal with the doctor name, including the code and register number of the physician)]. Penal and police record issued by the previous country of residence of the petitioner within the last two years, (This document will not be necessary, if the interested party has resided in Panama for the last two or more years on a consecutive time. Passport issued by country of origin [...with a minimum of six months validity time and a complete photocopy of the passport, duly authenticated before a Public Notary]. Two (2) Carnet size photos [...up dated, of every interested party, (no hats or veils and facing front] Document that certifies, by foreign government, international entities or private companies, the retired condition of the petitioner, and that the interested party earns a permanent income no less than Five Hundred American dollars or its equivalent ($500.00) per month. If there are dependents, the additional income has to be One Hundred Dollar ($100.00) monthly, per dependant. ( If the certification is in a foreign currency, a certification from the Panama National Bank stating the equivalent amount in dollars.) If petitioner is retired from a private company, He (She) has to present the document that certifies by means of the authorized authority that the company is still operating (equivalent to the Panamanian Public Register Certificate) and attach the last five supporting documents of the pension receipt. If the money is received by bank’s transfer, copy of the bank statement from the bank, have to be presented. Personal Background Sworn Declaration [… duly signed by the interested party and by an authorized official of the National Directorate of Immigration and Naturalization or whoever receives the petition. (Form supplied by the National Directorate of Immigration and Naturalization).] An extra set of photocopies of all the documentation presented. Legal Base: Law No. 9 of June 24 of 1987 and the Executive Decree No. 62 of August 4 of 1987 Observations: No observations registered Opening hours to the public: Monday through Friday: from 7:30 a.m. to 1:30 p.m. Address: 29th Street and Cuba Avenue Phone Number: (507) 507-1800 Copyright © 2007. National Directorate of Immigration and Naturalization. All rights reserved.

For rentistas wanting the 2nd passport, the requirements vary as follows:

Temporary Residence Visa as an Independent Retired

To grant a Temporary Residence Visa as an Independent Retired. Who may request a Temporary Residence Visa with an Independent Retired Status? All those foreigners that earn a minimum monthly income of Seven Hundred Fifty (US$750.00), that proceed exclusively from the interest of a five year period time deposit at “Banco Nacional de Panama” (National Bank of Panama). The petitioner can bring his (her) dependents into the country (Are considered as such, the parents, spouse or children under legal age or those who are of legal age but under 25 years, single and without children that are attending regular studies, on a Study Centre duly recognized by the Ministry of Education. The permit is granted for five extendable years and a special Panamanian passport is issued for the same length of time. The retired petitioner can invest money at the Panamanian Territory, previous to the compliance of the requirements, but will not be able to work within the territory. Certification from “Banco Nacional de Panama” (National Bank of Panama) confirming that petitioner earns an income of Seven Hundred and Fifty dollars (B/.750.00) in monthly interest, that proceed exclusively from a five year period Time Deposit, mortgage free or that is not used as a collateral. Photocopy of the Time Deposit certificate or contract duly authenticated by “Banco Nacional de Panamá” (National Bank of Panamá).

When filing along with a spouse or a child, more paperwork must be filed. A certificate of birth for the child, and/or certificate of marriage for the spouse, as required for the Immigrant Visa as a Resident’s Dependent.

.