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MICRO BUSSINES INVESTOR ($40,000.00 TO $150,000.00)
Who may apply to this immigrant visa?
The foreigner who wishes to establish its residence in the Republic of Panama, immigrating with an investor’s status and whom by the amount of the investment qualifies as a micro enterprise investor. The investment to be made must be direct in the company that is constituted, and with a minimum share capital of Forty Thousand Balboas (B/. 40.000) and up to a maximum of One hundred Fifty Thousand Balboas (B/. 150,000). The foreigner must be the shareholder and dignitary of the company, which in addition, must have an initial list of three (3) Panamanian workers, working fulltime and earning a wage not inferior than the minimum established by Law for each region of the country, specifying the position or activity that each one performs.
The company must register its employees in the Social Security System, thus complying with the legal obligations in respect to the social issues. It is important that the foreign investor considers that at the time of asking for the visa extension, after exceeding the provisional permission that is issued with Immigrant’s Visa, he/she will have to prove that it has fulfilled the commitment to contract Panamanian personnel and to be up-to-date in the payment of the obligations towards the Social Security.
The foreigner who applies to this visa must be the holder of the shares that show a minimum investment of Forty Thousand Balboas (B/. 40.000,00).
When the Immigrant’s visa is approved, the foreigner receives a residency permit for one year and when the same is coming to conclusion, the petitioner must ask an extension every year until three (3) consecutive years. At the due time of the third extension, the petitioner will be able to ask for the definitive permanence, with right to a Panamanian Cedula (I.D. Card). This adds up to five (5) requests.
Only a single foreigner and its dependents will be admitted by corporation, and the attempt of violation or the violation of this requirement will amount to the consequence of the refusal of the request, and the obligation to leave the country. The activities to which the company is dedicated must be expressed in the license or the commercial registry.
Processing time frame: 3 to 4 months to obtain Visa de Immigrant’s (document granted for a year).
Official immigration requirements for this Visa:
REQUIREMENTS |
PROCEEDED FOR |
SERLECA |
USTED |
Power of Attorney and requests through a lawyer |
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The power of attorney, as well as the request must be stamp or seal with B/4.00 per page. |
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Certified or cashiers check in the amount of B/ 100.00 in FAVOR of the “Tesoro Nacional” |
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Medical Certificate of Good Health: 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 has 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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Certificate of Juridical Person issued by the Public Registry, that confirms the following: the corporate name of the company, the directors and dignitaries of the company, the name of the legal or empowered representative (if it has one), the issued capital stock of the company (that must be a minimum of B/. 40,000.01), type of shares and the distribution of the capital stock. The petitioner must be the director and dignitary of the company. |
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Certification of the Secretary or Treasurer of the company, where it states the title of the shares issued in FAVOR of the foreign applicant and that the shares are properly released and paid (the shares must be of a minimum value of B/.40,000.01). The certification must be signed before a Public Notary and shouldn’t be subscribed by the interested party |
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Certification of the corporation’s Certified Public Accountant (CPA), stating the titles of the shares credited to the foreigner petitioner and indicating that those shares are properly released and paid (the shares must be of a minimum value of B/40,000.01) (Attach document certifying the legal capability of the C.P.A |
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Declaration rendered by the petitioner before a Public Notary, in which the amount of the invested capital is indicated, as well as the amount of the owned shares and that they are released and paid (with a minimum value of B/.40,000.01), it must also mention the detailed commercial activities performed by the company. |
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If the company is of recent incorporation, the application must include a copy of the paid “Tasa Unica” and the Taxpayer Personal Register (R.U.C.) duly collated by the Ministry of Economy and Finance. |
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Copy authenticated by Caja de Seguro Social (Social Security) of the company’s payroll, which specifies a minimum of (3) three Panamanian employees, earning salaries no lower than the minimum wage established by law according to the region and position. |
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Social Security’s good standing in behalf of the company and with minimum of three (3) months validity. |
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Proof of investment |
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Proof of location and existence of the company supply a minimum of three proofs |
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Sworn declaration about personal background form supplied by the Directorate of Migration and Naturalization |
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Copy of the Commercial License or industrial license of the business, (It must be type “A” that covers the wholesales commercial activities or industrial license) |
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Photocopy of the Shares certificates. |
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Others requirements:
At the presentation of the documents, a three month temporary carnet is issued and at the time of the approval of the request, a provisional one year permanent carnet is issued. The costs of the carnets will be paid by the interested party as well as the B/. 10.00 fiscal stamps for those nationalities that require a visa.
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