A minimum investment of $160,000 in a valid new firm or a new setup corporation is required for the Panama Business Investor Visa. Additional requirements include obtaining a commercial business license, registering with social security, and recruiting 5 Panamanian employees who pay their social security benefits and at least the minimum wage. Before becoming permanent residents, every Panama Business Investor Visa requires three two-year temporary residence visas.
Foreigners who wish to participate in a Panama firm with a minimum capital stock of $160,000 per applicant will be allowed to apply for the Panama Business Investor Visa as shareholders or officials of that business. Foreigners applying for a Panama Business Investor Visa must demonstrate that the minimum investment (US $160,000) is their own money. Any legal business [save those reserved for Panamanian nationals, such as lawyers, doctors, and retail sales] can be started by a foreigner.
The following documents must be produced in addition to the requirements set forth in Article 28 of the Decree Law:
- Certificate of original legal status from the Public Registry; the Panama business’s trade name; the applicant’s status as a director or officer in the Panama business; the name of the legal or authorized representative (if applicable); the Panama business’s capital stock (must be at least $160,000); the Panama business’s type of activities; and the capital stock’s distribution;
- A certificate from the Panama business’s Secretary or Treasurer attesting to the existence of a minimum value of $160,000. The certification must be written and signed in the presence of a notary public.
- A copy of the company’s business plan;
- Certification for the Panama business by an Authorized Public Bookkeeper or Accountant (CPA) attesting to the foreign applicant’s ownership and stating that there is $160,000 available for the Panama business explaining the business’s activities;
- A statement signed before a Notary Public confirming the entire amount of the minimum required capital invested, the applicant’s involvement in the company, and a description of the company’s Panama commercial activities;
- Receipt of an advance payment of capital gains tax and a copy of the Panama business acquisition contract if the applicant has bought an established firm from a third party.
- Copies of the Panama business’s tax return, including its Paz y Salvo (only in case the business had been operating months before the date in which one must present the affidavit of incomes of the tax year in effect). The payment of the foreign applicant’s minimum $160,000 investment should be reflected on the tax return. For a newly established Panama business, the RUC (Unique Registration of the Taxpayer) identifying number;
- Copies of the kind of Panama business, validated by the CSS, with a minimum of five (5) Panamanian employees (per applicant), certifying the minimum pay set by law according to the region and area. (They must correspond to one of the payments made within the three months prior to the presentation.)
- The CSS’s Paz y Salvo in favor of the Panama business.
- Evidence of the requisite minimum Panama investment.
- Documentation proving the existence and location of the Panama business, with at least three of the following documents submitted (can be any of the following documents or another that shows the existence of the Panama business)
- Copies of the Operation Notice.
- Power of Attorney, authorizing our firm to act on behalf of the applicant (and any dependents, if any).
- A Certificate of Good Health, signed by a registered, licensed physician, stating that the applicant (and any dependents, if applicable) are free of communicable diseases and in good mental and physical health.
- For the applicant (and spouse and children, if appropriate), a notarized and validated police record from the applicant’s place of residence.
- Dependents’ certified or notarized birth certificates ( if applicable).
- The applicant’s and spouse’s marriage certificate (if applicable).
- The applicant’s passport (and any dependents, if any) must be valid.
- Three (3) passport-sized pictures of the applicant (and, if applicable, dependents).
- A letter of financial recommendation from your bank, credit union, or brokerage/investment firm.