Panama is often recognized as one of the nations with the most promising financial stability for investors of all kinds today. The diverse range of businesses and the flourishing business environment have made it an appealing destination for anyone keen on starting or investing in enterprises.
If you are a United Kingdom citizen and are looking to embark on a journey as an investor in the business sector, you might want to consider acquiring an investor residency in Panama. Nonetheless, to successfully secure this kind of visa, it is advisable to have the guidance of legal experts. There are dedicated firms like Legal Solutions Panama, whose team of specialists can assist you throughout the entire process.
What is the aim of an investor visa in Panama, and what advantages does it offer to foreigners?
Panamanian laws allow foreign investors to exercise the same rights as Panamanians in terms of property and capital in the country. Additionally, this visa gives you legal residency in Panama, allowing you to invest in property, business or time deposits, and access to basic services such as education and health.
This country stands out for its stable economy and favorable business climate, which offers investors opportunities to expand their commercial activities. The ease of opening bank accounts and conducting international transactions, thanks to its position as a financial center, is a great benefit.
Also, this visa allows applicants and their families to enjoy a quality lifestyle in a country rich in culture and biodiversity. The advantages of the political and legal system favorable to foreign investment, together with the possibility of obtaining Panamanian citizenship after a period of residence, make this permit an attractive option for foreigners in Panama.
What are the requirements to obtain an investor visa in Panama from United Kingdom?
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:
- Power of attorney and application, relevant to the notary’s office along with the necessary tax stamps.
- Four passport-sized photos of the applicant.
- A copy of the applicant’s passport.
- An apostilled criminal record certificate of the applicant.
- A health certificate issued by a qualified physician within the Republic of Panama.
- A certified check of USD 250 made payable to the National Treasury, which can be issued by either the applicant or their legal representative. Additionally, the certification cost per check is USD 10.70, which the holder must provide.
- A check for USD 800 payable to the National Immigration Service, also requiring certification; this can be issued by the applicant or their legal representative. The certification cost per check is the same as mentioned previously.
- A Personal Background Affidavit Form. This must be completed and signed by the applicant.
- Documents required vary depending on the type of investment:
- If investing in real estate, the following must be submitted:
- Certification of the Public Registry, which must prove the ownership of the real estate, in the personal title of the applicant with a minimum amount of USD 300,000. Likewise, the certification must indicate that these are free of encumbrances.
- In the case of opening a time deposit, the applicant must provide:
- Bank certification that you have opened a time deposit account in the applicant’s name. The amount must be USD 300,000 and must have a minimum duration of three (3) years; it can be from any general license bank in the national territory. This fixed term must be free of encumbrances.
- Copy of the fixed-term certificate authenticated by the bank.
- Two letters of responsibility.
If you have dependents, you must consider the additional requirements to be presented.
Step-by-step instructions: Your practical guide to securing an investor visa
This process is straightforward. By following the steps outlined below, you can ensure a seamless visa journey from beginning to end:
- Application Submission: Visit the National Immigration Service in Panama to file your application. Ensure all necessary documents are included and complete the relevant application form.
- Payment of Fees: Settle the administrative fees required for the investor visa. These fees may fluctuate, so be sure to check the most current costs when you apply.
- Application Review: Once your application is submitted, the National Immigration Service will review your case. This evaluation period typically lasts between 3 and 6 months.
- Visa Issuance: If your application is successful, you will be granted your investor visa. Carefully check the terms and conditions to ensure there are no discrepancies in the document.
Legal Solutions Panama: Skilled Attorneys to Assist You in Obtaining Your Investor Visa
As you’ve noticed, applying for an investor visa involves meeting several requirements. Seeking legal counsel from specialists in the field is an excellent starting point, and Legal Solutions Panama can support you right from the outset.
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.
