What is the Permanent Resident Permit for Economic Solvency Reasons for Investment in Real Estate?
This permit applies to any foreigner who invests the minimum amount of three hundred thousand American dollars (300,000.00 USD$) in real estate and proves that the funds come from abroad. This Permit will be for a term of two (2) years, after which the applicant may opt for permanent residence, during this period the property cannot be transferred.
In order to include dependents, the investment of B/.2,000.00 for each dependent must be added, which can be justified by local bank reference.
What does the Permanent Resident Permit for Economic Solvency Reasons for Opening a Fixed Term Deposit consist of?
This permit applies to any foreigner who invests the minimum amount of three hundred thousand balboas or dollars (300,000.00 USD) in fixed-term deposit assets and who proves that the funds come from abroad. This Permit will be for a term of two (2) years, after which the applicant may opt for permanent residence. If you wish to include dependents you must add to the investment made the sum of B/.2,000.00 (or 2,000.00 USD) for each dependent, which can be justified by local bank reference.
Requirements for applying for a Permanent Residence Permit for Family Reunification Reasons as Married to a National
The requirements common to both processes are as follows:
1. Power of attorney and application (notarized and with their respective fiscal stamps)
2. FOUR (4) passport size photographs of the applicant
3. Duly collated copy of the applicant’s passport.
4. Apostilled Certificate of Criminal Record of the applicant.
5. Health Certificate by a suitable doctor in the Republic of Panama.
6. Certified Check for USD$250.00 in favor of the National Treasury; (the client can provide it or we can arrange it – certification cost per check USD$10.70) – This check must be provided by the holder.
7. Certified Check for B/.800.00 in favor of the National Immigration Service; (the client can provide it or we can arrange it – certification fee per check USD$10.70) – This check must be provided by the holder.
8. Personal History Affidavit Form. Must be completed and signed by the applicant.
9. Documents to be provided depending on the type of investment:
9.1 For the case of Investment in Real Estate you must provide
-Certification from the Public Registry that proves the ownership of the real estate, on the applicant’s personal behalf, with a minimum value of three hundred thousand (B/. 300,000.00), the certification must indicate that the property is free of liens.
9.2 In the case of the Opening of a Time Deposit, it must be provided:
– Bank certification that a time deposit account has been opened in the name of the applicant, for the amount of three hundred thousand balboas (B/.300,000.00) or its equivalent in foreign currency and with a minimum duration of three (3) years, in any bank with a general license in the national territory. This fixed term must be free of tax.
– Copy of the fixed-term certificate authenticated by the bank.
10. Two (2) letters of responsibility.
11. In case of dependents:
11.1 Letter of responsibility.
11.2 Proof of relationship.
11.3 Proof of address.
11.4 Over 18 years of age present certificate of single status and certified studies.
Fixed costs to be paid by the applicant
US$ 503,00 (This amount does not include: Certified Check for USD$250.00 in favor of the National Treasury and Certified Check for USD$800.00 in favor of the National Immigration Service).
The Multiple Visa has an additional cost of USD$150.00, the same is not a requirement for the process but if they leave the country without it there is a fine of USD$2,000.00)
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