Forest Investor Visa

Permanent Resident Permit as a Forest Investor in Panama

As an expert immigration law firm, Legalia Panama makes available to you all the available options and the application process to obtain a permanent residence visa in Panama.

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What is a Forest Investor Visa?

The Permanent Resident Permit as a Forest Investor is a type of visa or residence permit offered by Panama to foreigners who make significant investments in reforestation projects in the country.

Investment Requirements and Forms

To apply for the Permanent Residence Permit as a Forest Investor, the applicant must make an investment in a reforestation project approved by the Panamanian authorities.

Minimum investment of $100,000 USD in an approved reforestation project.

Minimum of B/.100,000.00 in reforestation, forest plantation or other activities authorized by the Ministry of Environment. This allows you to opt for the provisional permanent resident permit.
It must be accredited by presenting a bank certification evidencing the transfer of the funds to the reforestation company or the corresponding proof of payment made.

Investment of B/.350,000 for permanent resident permit as an automatic forestry investor

Minimum of B/.350,000.00 in the same activities to obtain permanent residence automatically.
It must be accredited by presenting a bank certification that supports the transfer of the funds to the reforestation company or the corresponding proof of payment.

The investment must be held for a minimum of 5 years.

The investment must remain active for a minimum period of five years. If it is interrupted before this deadline, the permanent residence may be terminated.

Adding Dependents:

For each dependent, an additional B/.2,000.00 must be added to the investment and justified with a local bank reference.

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To learn more about our immigration or naturalization services in Panama, or to discuss your specific needs, please do not hesitate to contact us.

Application Process

The process of applying for a Panama permanent residency visa is meticulous and requires careful preparation of the necessary documentation. At Legalia Panama we can help you with the entire process you need to obtain your visa in order to save you time and money.

These applications may be submitted prior to the entry into the national territory of the applicant and his dependents, through a special proxy. As long as the filiation process is completed in the Immigration Registry of the National Migration Service

Required Documentation

Power of Attorney (notarized) and Request. The power of attorney must contain the name and nationality of the applicant’s parents.
Three (3) photographs.
Duly verified copy of the passport (Notarized or Authenticated corresponding).
Criminal Record Certificate.
Health Certificate.
Certified Check for B/.250.00 in favor of the National Treasury.
Certified Check for B/.800.00 in favor of the National Immigration Service.
Personal Background Affidavit Form.
In the case of legal entities, you must submit an affidavit from the secretary or treasurer of the company (it cannot be submitted by the interested party himself), where the activities, the ownership of the registered shares issued in favor of the applicant foreigner duly released and paid and the amount of the share capital are accredited.
Certification from the certified public accountant (CPA) detailing the total amount invested directly in the reforestation activity and that the capital is the investor’s. (The accountant must attach a copy of the ID and the professional suitability card).
Authentic copy of the share certificate, issued in favor of the forestry investors, or commercial relationship contract with the reforestation company, holder of the share certificate, duly authenticated.
Copy of the resolution issued by the Ministry of Environment, of the forest registry of the natural or legal person.
Certificate of existence of the company, issued by the Public Registry of Panama, stating the company’s activities.
Certificate of ownership issued by the Public Registry of Panama.
Proof of the investment made directly in reforestation activities, for a minimum of one hundred thousand balboas (B/. 100,000.00), which must be demonstrated by the presentation of a bank certification of the transfer of the funds to the reforestation company or of its payment.
In the case of applying for the permanent resident permit as an automatic Forest Investor, proof of the investment made directly in reforestation activities for a minimum of three hundred and fifty thousand balboas (B/. 350,000.00), which must be demonstrated with the presentation of a bank certification of the transfer of the funds to the reforestation company or of its payment.

REQUIREMENTS TO APPLY FOR PERMANENT PERMANENCE FOR FORESTRY INVESTMENT REASONS (PRP-FOR)

To Apply for Permanent Residence, the above requirements will be presented with the exception of the Criminal Record Certificate and checks. In addition, it must provide:

Certification that the investment is still in force, issued by the reforestation company.
Certification issued by the competent authority to issue the forest registry, which validates the existence and validity of the reforestation company.

Steps to follow

Make the investment in an approved reforestation project
Collect all necessary documentation
Submit the application to the National Migration Service
Wait for application review and approval
Obtain the permanent residence card once the application is approved

Legal Basis

It is based on Decree-Law No. 3 of February 22, 2008 and Executive Decree No. 343 of May 16, 2012.

Political Constitution of the Republic;

The Political Constitution of the Republic of Panama is the supreme document that establishes the fundamental principles and norms of the State, guaranteeing rights and freedoms, and organizing the functioning of the government and its institutions.

Decree-Law No. 3 of February 22, 2008;

Decree-Law No. 3 of 22 February 2008 regulates Panama’s migration policy, establishing rules and procedures for the entry, stay and residence of foreigners in the country.

Executive Decree No.320 of August 8, 2008

Executive Decree No. 320 of August 8, 2008 establishes specific procedures and requirements for obtaining different categories of visas and residence permits in Panama, facilitating migration regulation.

Executive Decree No. 26 of March 2, 2009, Law 38 of 2000

Executive Decree No. 26 of March 2, 2009 introduces modifications and additional provisions to Executive Decree No. 320 of August 8, 2008, updating the procedures and requirements for various categories of visas and residence permits in Panama, in order to make the immigration process clearer and more efficient. Law 38 of 2000, for its part, regulates public administration in Panama, establishing rules on transparency, access to information and the functioning of government institutions, which contributes to an orderly and accessible immigration system.

Law 38 of 2000

Law 38 of 2000 in Panama establishes the general administrative procedure, including rules on the organization and operation of the public administration. It is a law that regulates the rights and obligations of citizens and state entities in relation to administrative acts, seeking to guarantee transparency, legality and justice in the processes.

In the context of the forest investment visa, Law 38 of 2000 is relevant because it provides the legal framework that guarantees that administrative acts related to this type of residency, such as the evaluation and approval of investments, are carried out under the principles of legality and due process. In addition, it regulates the procedure for issuing resolutions and making decisions on residence applications.

Law 199 of May 7, 2021

Panama’s Law 199 of May 7, 2021 introduces significant modifications to immigration legislation, especially with regard to permanent residence permits for foreigners. This law establishes that permanent residence permits may only be granted for work reasons or for investment in real estate.

The law also establishes additional requirements that must be met by foreigners interested in obtaining this immigration status.

Benefits of working with Legalia Panama

We specialize in immigration processes and offer personalized and professional advice to ensure a hassle-free experience.

We have a team of lawyers with extensive experience in immigration law and a thorough knowledge of Panamanian regulations.

Our commitment is to provide an efficient service tailored to the individual needs of each client, ensuring your peace of mind and success in the process of obtaining permanent residency in Panama.