Creation of the subcategory of Permanent Resident as a Qualified Investor
The Ministry of Public Security of the Republic of Panama created within the category of permanent resident for economic reasons, the subcategory of Permanent Resident as a Qualified Investor.
This subcategory, whose basic requirement is to invest the sum of US $ 500,000.00 in the Republic of Panama, aims to promote foreign investment in Panama through various mechanisms, while providing novel advantages to those foreigners who want to apply for this residence .
Through this decree, permanent residence is assigned in a single stage to applicants (foreigners) who make investments for a minimum amount of $ 500,000.00 from a foreign source, personally or through a legal entity.
What is required to request the Permanent Residence Permit as a Qualified Investor?
there are four options:
1. For Real Estate Investment Reason.
2. For Real Estate Investment Reason by means of a promise of sale contract.
3. For reasons of investments made through a Brokerage House with a license approved by the Superintendency of the Securities Market of Panama.
4. For Investment Reason in Fixed Term Deposit in the Banking Sector.
It is a requirement that the investment be held for a minimum period of five (5) years. Failure to do so will result in the cancellation of permanent residence.
Foreigners who want to apply for this visa can do so through a special representative.
Those foreigners who, since the beginning of the validity of this decree, have been pending with a procedure or have initiated requests for Provisional Permit of Permanence in quality of Own Economic Solvency for Investment in Real Estate, may request the modification of immigration status.
At Ba-Lawfirm.com, we have Panamanian lawyers specialized in Immigration Services, which have solutions to your requirements.
Written by Carla Borges
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