This program allows foreign investors to obtain legal residency in Panama under the condition that they must rent a plot of land or an office or building (rented through a 10 to 20 year concession) within one of the new tax free processing zones in Panama, for the purpose of operating a business from Panama that exports its products or services.
Since the turn-over of the US military bases in Panama , the Panamanian government has designated several of these areas as "Tax Free Processing Zones", with similar tax benefits as the existing Colon Free Trade Zone (the second largest distribution center in the world). These tax free processing zones have distinct tax advantages for operating manufacturing plants, assembly plants, software creation facilities, call centers, and other such businesses that export their products or services. These businesses also get a substantial tax break on a certain percentage of their products or services sold locally.
Documents that are necessary to process legal residency and passport:
1. Power of Attorney allowing your law firm to act on behalf of the applicant (and dependents - if applicable).
2. Certificate of Good Health, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition.
3. HIV Test of the applicant (and dependents - if applicable) showing negative results.
4. Notarized and authenticated police record from the place of residence for the applicant (and spouse & children - if applicable).
5. Certified or notarized Birth Certificate of the applicant (and dependents - if applicable).
6. Marriage Certificate for the applicant (and dependents - if applicable).
7. Valid passport of the applicant (and dependents - if applicable).
8. Four (4) passport sized photographs of the applicant (and dependents - if applicable).
9. Financial reference letter from your bank, credit union, or brokerage / investment firm.
*All documents must be apostilled or authenticated by the Panama Consulate in your country.
Multiple Entry & Exit Visa (Optional): The Multiple Entry & Exit Visa should be applied for after or at the same time that any type of visa is applied for. The Multiple Entry & Exit Visa allows you to enter and exit the country as many times as necessary. |
