A Qualified Investor Visa in Panama will allow you to live and work freely in this highly-developed Central American nation, with the only requirement for maintaining resident status being that you visit the country once every two years.
First established in October 2020, a Qualified Investor Visa can be obtained via property acquisition, purchasing securities, or making a fixed-term deposit in a local bank.
It is important to note that all funds invested must come from outside the country. For US investors, one of the major advantages of transferring funds into Panama is the fact it is one of Latin America’s dollarized economies, meaning that losses associated with currency conversions are eliminated.
Another major advantage of a Qualified Investor Visa in Panama is the fact that the application process can be initiated while the applicant is outside the country – although they and any dependents also receiving visas will need to travel to Panama to finalize the process.
Furthermore, processing the visa only takes 30 days. So, once the necessary investment has been made and required documentation gathered, the turnaround time is incredibly fast.
If you are interested in obtaining a Qualified Investor Visa in Panama, read on for more information about the different investment options, as well as the fees involved and documentation needed.
Investment options for a Qualified Investor Visa in Panama
The three options for receiving a Qualified Investor Visa in Panama are as follows:
Option 1 – property purchase
The first option for getting a Qualified Investor Visa in Panama is through the purchase of property. Until October 2022, the minimum real estate investment required to be eligible for a Qualified Investor Visa stands at $300,000, subsequently rising to $500,000.
Note that the property must be held for a minimum period of five years.
Option 2 – securities investment
The second option for receiving a Qualified Investor Visa in Panama is to purchase securities via a licensed securities office, with a minimum investment of $500,000. While that option is less popular than receiving the visa through property purchase, it becomes considerably more attractive once the minimum property purchase value rises.
Because one of the major advantages that a visa through securities investment carries is the rapidity with which securities can be purchased, as well as the ease with which they can be managed compared to a physical asset such as real estate.
Option 3 – timed bank deposit
The third option for an investor visa in Panama is to make a timed bank deposit in a local bank, lasting for at least five years and with a minimum investment of $750,000.
It is important to note that such a deposit must be free of any additional financial commitment or lien, and must be made with a qualifying bank – which your lawyer in Panama will be able to advise you on.
How much does a Qualified Investor Visa in Panama cost?
To receive an Qualified Investor Visa in Panama, you will need to pay certain fees, which will rise based on the number of dependents also being provided visas.
These fees will be additional to any charge incurred by a provider who is assisting you with the visa application process.
The fees include:
- An application fee of $5,000 to the National Treasury
- A repatriation deposit of $5,000 to the Panamanian Immigration Service
- An additional fee of $1,000 to each of those bodies per dependent
That means, in total $2,000 must be paid per dependent. So, for example, someone who receives an investor visa in Panama and has a spouse and child who will also receive visas will have to pay a total of $14,000 for all three visas, on top of the fees owed to the provider.
What documentation will be needed?
As part of the application process for a Qualified Investor Visa in Panama, the following documentation will be required:
- Authenticated (apostilled) copy of passport
- Recent and authenticated (apostilled) criminal record background check
- Five passport sized photos
- Certificate of good health
- Personal background declaration
- Authenticated and certified bank statement demonstrating relevant funds/transactions
- Notarized letter issued by recipient of relevant funds to demonstrate proper completion of transaction
- Proof of payment of aforementioned fees for applicant and all dependants
- For dependents:
- Letter of visa holder’s accountability for them
- Proof of stated ties (marriage or kinship)
- Proof of address (dependents must live with applicant)
- Other relevant documentation if a dependent is over 18 years of age
Biz Latin Hub can help you get a Qualified Investor Visa in Panama
At Biz Latin Hub, we provide integrated market entry and back office services throughout Latin America and the Caribbean, with offices in 17 major cities around the region.
Our portfolio includes accounting & taxation, company formation, due diligence, hiring & PEO, legal services, and visa processing, while our unrivaled reach in the region means we are ideally placed to support multi-jurisdiction market entries and cross-border operations.
Contact us today to find out more about how we can assist you.
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