REPUBLIC OF PANAMA
MINISTRY OF PUBLIC SECURITY
NATIONAL MIGRATION SERVICE
REQUIREMENTS TO APPLY FOR PERMANENT RESIDENT PERMIT FOR REASONS OF OWN ECONOMIC SOLVENCY DUE TO INVESTMENT OF REAL ESTATE (PPT-SEP-IBM)
Article 193: Foreigner who invests the minimum sum of three hundred thousand balboas (300,000.00) in real estate and prove that the funds come from the foreigner.
This Permit will be for a term of two (2) years, after this period has elapsed. The applicant may opt for permanent residence.
If you bring dependents, you must increase the investment to two thousand balboas (B/.2,000.00) for each dependent, which can be justified by reference local bank.
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. Certified Check for 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. Certification from the Public Registry that proves the ownership of the assets real estate, in the personal capacity of the applicant with a minimum value of three hundred thousand (B/. 300.000.00). The certification must indicate that the property is free of liens.
10. In case of dependents: 10.1. Responsibility letter. 10.2. Proof of relationship. 10.3. Proof of address. 10.4. Older than 18 years old, present a certificate of single status and certified studies.
EXCEPTIONS TO THE RULE:
1. When the properties are in the name of a private interest foundation, The foreigner may request this permit as long as he or she demonstrates that the founder and he or his dependents are the beneficiaries. The certificate of Public Registry must show the designation of founder and beneficiary.
2. In the event that the applicant proves that he has paid the liquid sum of three hundred thousand balboas (B/.300,000.00) in real estate and it is of a value higher than what is required, you will be able to finance the remainder through mortgage loans from a local bank.
3. In the event that the article of real estate is in the name of a corporation, the foreigner may request this permit as long as when the shares are nominal and are in the name of the applicant and dependent. Bearer shares will not be admitted.