Investor visa Panama: Benefits for applicants from Canada
Business

Investor visa Panama: Benefits for applicants from Canada

Frank S. Laing

Panama is often regarded as one of the nations with a promising financial stability forecast for investors across the board. The diversity of its enterprises, coupled with the surge in business activities, has made it an appealing destination for entrepreneurs and investors alike.

If you are a Canada citizen and wish to become an investor in the business world, you should consider getting an investor visa in Panama. However, to obtain this type of visa, you should have the support of experts in legal matters. There are specialized firms, such as Legal Solutions Panama, whose team of professionals can help you from the beginning to the end of your process.

What is the aim of an investor visa in Panama, and what advantages does it offer to foreigners?

Panamanian legislation permits foreign entrepreneur investors to enjoy the same rights as locals regarding property and financial assets within the country. Furthermore, holding this visa grants you legal residency in Panama, enabling investment in real estate, businesses, or time deposits, and access to essential services like education and healthcare.

This nation is distinguished by its stable economy and conducive business environment, offering investors ample opportunities to grow their commercial ventures. The simplicity of setting up bank accounts and managing international transactions, attributed to its status as a financial hub, is a significant advantage.

Additionally, this visa enables applicants and their families to experience a high-quality lifestyle in a nation abundant in culture and biodiversity. The benefits of a political and legal framework supportive of foreign investment, along with the opportunity to acquire Panamanian citizenship after a certain period of residency, render this permit an appealing choice for expatriates in Panama.

What are the criteria for securing an investor visa in Panama for citizens of Canada?

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:

  1. Power of attorney and application, along with the corresponding notary office procedures and applicable tax stamps.
  2. Four passport-sized photographs of the applicant.
  3. A photocopy of the applicant’s passport.
  4. Criminal record certificate of the applicant, duly apostilled.
  5. Health certificate from a qualified physician in the Republic of Panama.
  6. A certified USD 250 check made payable to the National Treasury, either by the applicant or their legal representative. Additionally, the certification cost per check is USD 10.70, which must be covered by the holder.
  7. Certified check for USD 800 payable to the National Immigration Service, which can be provided by either the applicant or their legal representative. The certification cost per check is the same as mentioned earlier.
  8. Personal Background Affidavit Form, which must be completed and signed by the applicant.
  9. Documents required depending on the nature of the investment:
  10. For real estate investment, 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, there are extra requirements that need to be submitted.

Step-by-Step Practical Guide to Acquiring Your Investor Visa

This process is straightforward. Follow these steps to ensure your visa application proceeds smoothly from beginning to end:

  • Application Submission: Visit the National Immigration Service in Panama to submit your application. Ensure you have all necessary documents and complete the required application form.
  • Paying Fees: Settle the administrative fees linked to the investor visa. These fees may vary, so it’s important to check the current prices when you apply.
  • Review Process: After submitting your application, the National Immigration Service will evaluate your case. This process typically takes between 3 and 6 months.
  • Receiving the Visa: If your application is successful, you will be issued your investor visa. Carefully examine the terms and conditions to ensure there are no mistakes in the document.

Legal Solutions Panama: Experienced Attorneys to Assist You in Securing Your Investor Visa

As demonstrated, applying for an investor visa involves meeting numerous requirements. Engaging with legal experts is a beneficial way to initiate this process, and Legal Solutions Panama can provide assistance right from the start.

This group of attorneys is distinguished by their comprehensive range of services and extensive experience in guiding clients through visa and immigration procedures. If you’re keen to learn more about obtaining your investor visa with their assistance, visit this link and enjoy a complimentary 30-minute consultation with one of their specialists.