Temporary forest investment

REPUBLIC OF PANAMA

MINISTRY OF PUBLIC SECURITY

NATIONAL MIGRATION SERVICE

TEMPORARY PERMIT FOR FOREST INVESTMENT REASONS (PPT-IFOR)

The foreigner who invests may request this Forest Investor permit, personal title or through a legal entity, a minimum amount of eighty thousand balboas (B/. 80,000.00) in reforestation or forest plantation activities or others authorized by the Ministry of the Environment. To include a dependent you must add the investment of B/. 2,000.00 for each dependent, which can justified by local bank reference.

Requirements:

1. Power of Attorney and Request (notarized).

2. Three (3) photographs.

3. Duly verified copy of the passport (Notary or Aut. corresponding).

4. Criminal Record Certificate.

5. Health Certificate.

6. Check certified by B/.250.00 in favor of the National Treasury.

7. Check certified by B/.800.00 in favor of the National Service of Migration.

8. Affidavit of Personal History Form.

9. Public Registry Certificate of the existence of the company.

10. In the case of legal entities, you must present an affidavit of secretary or treasurer of the company (cannot be performed by the company itself) interested), where the ownership of the registered shares is accredited issued in favor of the foreign applicant duly released and paid and the amount of share capital.

11. Certified public accountant (CPA) certification detailing the total amount invested directly in the reforestation activity and that the capital belongs to the investor. (The accountant must attach a copy of the ID card and professional suitability card).

12. Certified copy of the share certificate issued in favor of the forestry investors or commercial relationship contract with the company reforestation company holder of the share certificate, duly authenticated.

13. Copy of the resolution issued by the Ministry of Environment, of the registry forestry of the natural or legal person.

14. Certificate of existence of the company, issued by the Public Registry of Panama, where its activities are recorded.

15. Property certificate issued by the Public Registry of Panama.

16. Proof of the investment made directly in activities of reforestation, for a minimum of eighty thousand balboas (B/. 80,000.00), the which can be demonstrated with documents such as: 16.1. Bank Certification of funds or payment (mandatory). 16.2. Audited Financial Statements. 16.3. Commercial invoices for purchases and sales. 16.4. Documents or proof of import or purchase of inputs or equipment.

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EXTENSION OF TEMPORARY PERMIT FOR REASONS OF FOREST INVESTMENT (PPRT-IFOR)

To request extensions, interested parties must provide the following: documents:

1. Certification that the investment is still valid, issued by the company reforester.

2. Certification issued by the competent authority issuing the registration forestry, which validates the existence and validity of the reforestation company.