Your complete guide to Panama’s investor visa for Canada citizens

Panama is often recognized as a nation with exceptional financial stability prospects for a wide range of investors today. The diversity of its enterprises coupled with its thriving business environment has made it an appealing destination for anyone looking to initiate and invest in business ventures.

If you are a Canada citizen and are looking to invest in the business sector, you might want to explore acquiring an entrepreneur residency in Panama. Securing this visa necessitates guidance from legal experts. Specialized firms like Legal Solutions Panama employ a team of professionals ready to assist you throughout every step of the process.

What is the goal of an investor visa in Panama, and what advantages does it offer to foreigners?

Panamanian legislation permits foreign entrepreneur investors to enjoy the same rights as locals regarding property and financial assets within the country. Furthermore, holding this visa grants you legal residency in Panama, enabling investment in real estate, businesses, or time deposits, and access to essential services like education and healthcare.

Renowned for its stable economy and advantageous business environment, this country provides investors with numerous opportunities to grow their commercial ventures. The convenience of opening bank accounts and facilitating international transactions, aided by its role as a financial hub, is a significant advantage.

Moreover, this visa enables applicants and their families to experience a high-quality lifestyle in a nation abundant in culture and biodiversity. The benefits of a political and legal framework that supports foreign investment, paired with the opportunity to acquire Panamanian citizenship following a residency period, render this permit an appealing choice for those considering a move to Panama.

What are the requirements to obtain an investor visa in Panama from Canada?

Like all legal procedures that must be complied with in the country, in order to obtain an investor visa in Panama, it is necessary to present a series of documents:

1. Power of attorney and application, both requiring notarization along with the applicable tax stamps.
2. Four passport-size photos of the applicant.
3. A photocopy of the applicant’s passport.
4. An apostilled criminal record certificate for the applicant.
5. A health certificate from a qualified physician in the Republic of Panama.
6. A certified check for USD 250 payable to the National Treasury, which can be issued by the applicant or their legal representative. Additionally, there is a certification fee of USD 10.70 per check, which the holder must cover.
7. A certified check for USD 800 payable to the National Immigration Service, which can be issued by either the applicant or their legal representative, with the certification fee consistent with the previous requirement.
8. A Personal Background Affidavit Form to be filled out and signed by the applicant.
9. Documents required based on the type of investment:
10. For investments in real estate, the following are necessary:

• Certification of the Public Registry, which must prove the ownership of the real estate, in the personal title of the applicant with a minimum amount of USD 300,000. Likewise, the certification must indicate that these are free of encumbrances.
• In the case of opening a time deposit, the applicant must provide:
• Bank certification that you have opened a time deposit account in the applicant’s name. The amount must be USD 300,000 and must have a minimum duration of three (3) years; it can be from any general license bank in the national territory. This fixed term must be free of encumbrances.
• Copy of the fixed-term certificate authenticated by the bank.
• Two letters of responsibility.

If you have dependents, there are extra requirements that need to be submitted.

Practical guide to obtaining your investor visa: follow the step-by-step guide

This process is straightforward. By following the steps outlined below, you can ensure a seamless visa application from beginning to end:

• Application Submission: Visit the National Immigration Service in Panama to submit your application. Ensure you have all necessary documents and complete the required application form.
• Paying Fees: Settle the administrative fees linked to the investor visa. These fees may vary, so it’s important to check the current prices when you apply.
• Review Process: After submitting your application, the National Immigration Service will evaluate your case. This process typically takes between 3 and 6 months.
• Receiving the Visa: If your application is successful, you will be issued your investor visa. Carefully examine the terms and conditions to ensure there are no mistakes in the document.

Legal Solutions Panama: Experienced Lawyers to Assist in Obtaining Your Investor Visa

As demonstrated, applying for an investor visa involves meeting numerous requirements. Engaging with legal experts is a beneficial way to initiate this process, and Legal Solutions Panama can provide assistance right from the start.

This legal team is distinguished by their extensive range of services and years of expertise in guiding clients through visa and immigration processes. To learn more about securing your investor visa with their assistance, visit here and take advantage of a complimentary 30-minute consultation with one of their specialists.