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REFORESTATION MACRO ENTERPRISE ($80,000.00)
Who may apply to this immigrant visa?
Foreigners may apply to this immigrant visa and the corresponding permission of residence, who invest in direct form in the activities of reforestation as natural persons or through a legal person when the investment is no less than B/.80.000.00 (eighty thousand “Balboas”).
How this process does?
The foreign applicant must prove to the National Directorate of Immigration and Naturalization the source of founds that he has effectively invested in the plantation of forest species for commercial, environmental, tourist aims or others. When the Immigrant visa has been approved, the foreigner receives a permission of residency for one year and when the same is expiring, the petitioner can request for a definitive permanency.
Only a single foreigner and its employees by company will be admitted and the attempt of violation or the violation of this requirement will bring as a consequence the refusal of the request and the obligation to leave the country.
Processing time frame: 2 to 3 months to obtain the Provisional Permit of Permanence, which has validity for one year.
Official immigration requirements for this Visa:
REQUIREMENTS |
PROCEEDED FOR |
SERLECA |
USTED |
Power of attorney and petition by means of a lawyer |
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Certified or cashier’s check in the amount of B/. 100.00 in FAVOR of the “Tesoro Nacional” (National Treasury) |
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Certified or cashier’s check in the amount of B/. 500.00 in FAVOR of the “Ministerio de Gobierno y Justicia” (Ministry of Government and Justice) as a repatriation’s deposit [applicable to persons older than 12 years] |
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Good Health Medical Certificate: issued within the three (3) months prior to the presentation date. |
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Penal and police record issued by the previous country of residence of the petitioner within the last two years, ( if the interested party have been in Panama for the last two or more years on a consecutive time, this document will not be necessary) |
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Passport issued by the country of origin with a minimum of six months validity time |
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Complete copy of passport |
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Eight (8) carnet size photos updated, no hats or veils and front face |
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Certification of the Secretary or Treasurer of the company, where the title of the shares issued in FAVOR of the foreign applicant is credited and stating that shares are released and properly paid (the shares must be of a minimum value of B/.150,000.01). The certification must be signed before a Public Notary and it does not have to be subscribed by the interested one. |
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Certification issued by a Certified Public Accountant (CPA), where the total direct invested amount in the forestal activity by the petitioner is detailed and certifying that the investor owns the capital. The C.P.A. must attach copy of the petitioner’s identification card and the C.P.A.’s carnet. |
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Copy of the share certificate or certificates issued to the forest investor. |
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Authenticated copy by the Ministry of Economy and Finance [.. of the Income tax form along with its payment receipts. If a yearly fiscal period has not concluded since the starting of operations of the company, instead of the income tax form, a copy of the Taxpayer Registry (Registro Unico) along with the original receipt must be supplied to be compared. |
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Authenticated photocopy of the National Authority of the Environment’s resolution where the legal entity or the foreigner was approved to be registered in the Forest Registry. |
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Proof of the investment made in a direct form in reforestation activities, by a minimum of B/. 80,000.00 (eighty thousand B/ 80.000.00 “Balboas”) which can be demonstrated with documents such as: certificate of the Public Registry issued in the name of the interested party, in which the inscription of the property that will be destined to the reforestation is registered, authenticated photocopy of the checks that were made as investment in reforestation, with paid seal of the Bank and the corresponding invoice, customs liquidations of machinery to be used in the reforestation project or another document that certainly proves the investment made in reforestation |
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Complete the form of Sworn Declaration of Personal Background |
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Others requirements:
At the time of the document presentation, a temporary carnet valid for three months is issued, and when the petition is approved a temporary resident carnet for a year’s length is issued. At the time of termination of the mentioned carnet, two successive extensions may be requested, and if they are approved, then a carnet for a validity of two year each is issued. The costs of the carnets will be paid by the interest party as well as the B/10.00 fiscal stamp for those nationalities that require a visa.
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