Panama: Procedures for obtaining a residence visa in Panama

More and more people looking to obtain residency in Panama. When analyzing the current world context it is easy to understand why residence in Panama attracts many people from different countries, especially the U.S., Europe and Latin America. The benefits to residency in Panama are multiple and meet the diverse needs of individuals. For example, the tax system in Panama is among the most attractive in the world and the experts agree that having residence in Panama is very helpful in maintaining privacy in a business and personal affairs.

The laws in Panama established five ways to get a visa and move toward naturalization, citizenship and passport in Panama. A faster option to receive residency in Panama is the "economic solvency visa itself." Those who are interested in this path must make a minimum investment of $300,000 U.S. dollars through the purchase of a certificate of deposit in a bank in Panama, in addition, could also buy real estate in the country or to reach the figure vote, they could do a combination of the two types of investments.  The second form is designed for investors of small businesses. The law states that to qualify for this format, the person must make a minimum investment of $160,000  in a business that is already running. You could also create a new business, but this was considered valid, then you should spend a minimum of five Panamanian citizens, full-time minimum wage. All of this is compounded by the need to obtain a commercial business license and then register with the Social Security Administration.
The third way is one of the most peculiar: it is called "visa" was organized and demand a minimum investment of $ 80,000, and the purchase of at least five acres in a reforestation project appears recognized by the government.
Perhaps one of the most used ways to obtain residency in Panama is married to a Panamanian / Panama. This will get instant permanent residency.
The fifth and final way is for persons considered as refugees and who have lived in Panama for at least a decade. Those who meet these requirements may apply for permanent residency and then will have to live in Panama over another five years before applying for naturalization.
One detail that none of those interested in obtaining a second passport in Panama should remember is that to qualify for the first four options described above, the person should have a temporary residence for at least two years before applying for permanent residence.

For more information visit www.taxhavens.us