Residence by permanent forest investment

REPUBLIC OF PANAMA

MINISTRY OF PUBLIC SECURITY

NATIONAL MIGRATION SERVICE

REQUIREMENTS TO REQUEST A PROVISIONAL RESIDENT PERMIT PERMANENTLY FOR FOREST INVESTMENT REASONS (PPT-RR)

Article 180: (Amended by Executive Decree No. 199 of 07 of May 2021) "May apply for this permanent resident permit as a Forest Investor, the foreigner who invests, personally or through a legal entity, a minimum amount of science mil balboas (B/.100,000.00) in reforestation or forest plantation activities or others authorized by the Ministry of the Environment.

In the event that the foreigner, personally or through a legal entity, invests a minimum amount of three hundred and fifty thousand balboas (B/. 350,000.00) in activities of reforestation or forest plantation or others authorized by the Ministry of Environment, may opt for permanent residence automatically.

To include a dependent you must add the investment of B/. 2,000.00 for each dependent, which can be justified by local bank reference.

1. Power of Attorney (notarized) and Request. The power of attorney must contain the name and nationality of the applicant's parents.

2. Three (3) photographs.

3. Duly verified copy of the passport (Notarized or Authenticated corresponding).

4. Criminal Record Certificate.

5. Health Certificate.

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

7. Certified Check for B/.800.00 in favor of the National Immigration Service.

8. Affidavit of Personal History Form.

9. In the case of legal entities, you must present an affidavit from the secretary or treasurer of the company (it cannot be rendered by the interest itself), where accredits the activities, the ownership of the registered shares issued in favor of the foreign applicant duly released and paid and the amount of share capital.

10. Certified Public Accountant (CPA) Certification in which the sum is detailed total invested directly in the reforestation activity and that the capital is of the investor. (The accountant must attach a copy of the identification card and registration card. professional suitability).

11. Authentic copy of the share certificate, issued in favor of the investors forestry, or commercial relationship contract with the reforestation company, owner of the share certificate, duly authenticated.

12. Copy of the resolution issued by the Ministry of Environment, of the forest registry of the natural or legal person.

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

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

15. 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 with the presentation of bank certification of the transfer of funds to the reforestation company or its payment.

16. In case of applying for the permanent resident permit as an Investor Automatic forestry, proof of the investment made directly in activities of reforestation for a minimum of three hundred and fifty thousand balboas (B/. 350,000.00), which must be demonstrated with the presentation of certification bank transfer of funds to the reforestation company or payment.

REQUIREMENTS TO REQUEST DEFINITIVE PERMANENCE FOR REASONS OF FOREST INVESTMENT (PRP-FOR)

To Apply for Permanent Residence, the above requirements will be submitted with exception of the Criminal Record Certificate and checks. Additionally, you must contribute:

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

2. Certification issued by the competent authority to issue the forest registry, which validate the existence and validity of the reforestation company.

To maintain Permanent Residence, as a Forest Investor, in any of the terms indicated in article 180 of Executive Decree No. 320 of 8 August 2008, it is necessary that the investment be maintained for a minimum period of five years. If the investment ceases or ceases to exist before the expiration of this term, This will give rise to the official cancellation of the permanent residence granted by the National Immigration Service.

The annual period to present each proof of investment will run from the date in which the corresponding Permanent Residence permit is approved.

LEGAL BASIS: Political Constitution of the Republic of Panama, Decree Law 3 of 22 February 2008, Executive Decree No. 320 08 August 2008 Items 180, 181, 182, 183, 184 and 184 A modified by Executive Decree No. 26 of 02 of March 2009, Law 38 of 2000, Law 199 of 7 May 2021.