Thread: Residency for investors or businesspersons

Is there such a thing? If I set up a company, do I qualify?

Yes, if you set up a business, invest $150,000+, and employ at least three Panamanians, you can qualify for the investor visa.

Same if you deposit $200,000 in a bank certificate, or buy real estate for at least that amount (if the latter, you also need to show and show that you can meet your monthly living expenses).

Anyone can invest in Panama, yes. For small investors, an investment of $40,000 is reuired and one needs to hire at least three (3) Panamanians. For general investors, the investment requirement is at least $100,000.

"Same if you deposit $200,000 in a bank certificate, or buy real estate for at least that amount (if the latter, you also need to show and show that you can meet your monthly living expenses)."

So if I buy a lot and build a house on it, and it costs me $200,000, could I get a visa with that requirment?

A visa is very different than residency, though, right? It means you are allowed to stay in the country and conduct business, but it doesn't make you resident. As such, your visa may not get renewed later, and you may have to leave.

True, a visa is NOT residency. My parents recently retired to Panama, and I am following them down there. They live in Boquete, I will live in Panama City. My mother has a penisonada visa--with the right to residency; my stepfather has to leave the country every 90 days and re-enter in order to maintain a 'tourist' visa. His business is located in the U.S., and is of a consultant nature, so he might be able to finagle an investor visa--since they bought land, built a house, etc.

For myself, I'm using the agro-investor clause, mostly because its the cheapest way to get a visa, I don't have to start a business, worry about employees, business models, financing, etc. My work is computer based, and you've probably read some of it if you have researched South/Latin America and Caribbean for immgration/residency from the U.S. Because I am paid by foreign companies, my income in Panama is non-taxable (which is very cool.) I am not replacing a Panamanian national or impeding their right to work, so my agro-forestry visa should jump all the correct hurdles when it comes up for its initial review (due soon) and then the annual, and 5-year reviews. In ~20 years, when the investment starts to turn a profit (it's a fantastic tool for retirement investing, I'm 30--so I like this,) the profits are non-taxable by Panama. Should the legalities of such an arrangement change, and I expect that they will, anyone who gets in now will grandfathered in--that's a good perk.

As I understand it, and as several lawyers have recounted it to me, if you either a) open a business and create jobs, b) invest $200k in land/house/residence (shows proof of intent to reside in Panama--and therefore spend $$ in Panama) c) invest in the forests, with no plan to see a profit for at least 15-20 years--then you have shown interest in the future economic well-being of the Panamanian state, and should be allowed to live there. I plan to live there, invest in forests, and be paid by a foreign firm--and spend my foreign-earned capital in Panama. It seems that taxation is secondary to the fact that I will be buying food, paying for utilities, transportation and entertainment costs, etc.

RE: Buy a house for $200k and get a visa? You will need to show that you have an income of ~$600 a month or comparable net worth.

Cheers.

$600 a month isn't that much compared to what it costs to live up north. Thanks for the tip!

I have been thinking more and more of moving to Panama. It would be great if I could get there through buying a house. Does it count if you buy the house with a mortgage?

Originally Posted by craigguy

I have been thinking more and more of moving to Panama. It would be great if I could get there through buying a house. Does it count if you buy the house with a mortgage?

That is something that you would have to research yourself. Start checking out that Panama immigration pages, a little google goes a long way!

IMO, it probably wouldn't count if you bought a house with a mortgage, since you are only putting down a portion of the investment and not the entire amount. It seems that the entire point of putting down a large sum of money is to demonstrate that you are commited to spending all of your time in Panama; In living there you will spend money on food/utitities/entertainment, and possibly a maid or cook, or gardner--thereby spending $$ in the local economy and possibly employing a Panamanian. These actions are obviously considered a good thing to officials.

Good luck!

Originally Posted by Lalaguayaba

That is something that you would have to research yourself. Start checking out that Panama immigration pages, a little google goes a long way!

IMO, it probably wouldn't count if you bought a house with a mortgage, since you are only putting down a portion of the investment and not the entire amount. It seems that the entire point of putting down a large sum of money is to demonstrate that you are commited to spending all of your time in Panama; In living there you will spend money on food/utitities/entertainment, and possibly a maid or cook, or gardner--thereby spending $$ in the local economy and possible employing a Panamanian. These actions are obviously considered a good thing to officials.

Good luck!

I agree with Lalaguayaba.

I don't know if a mortgaged house counts, but I doubt it. You're not investing in the country if you are getting a mortgage from a local bank.

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It is a good idea to get into the habit of using an attorney for anything you do in Panama. I personally found mine on the US Embassy website. The US Embassy has a listing of attorneys that only continue to be listed as long as no US citizens have filed complaints about them.

From my understanding you can also setup a corporation and then give yourself a work visa. Once again, find an attorney that can assist.

Hello all! I have just a quick question for anyone. My parents are moving to Panama in the near months on the pensionada visa. My wife and I are also looking to possibly move down there with them but are have a few snags in our mind long how to obtain a permanent visa. My folks obviously have the funds to put away but my wife and I don't. We would live with them for a time but it is my goal to start a computer based business which I am still working on. Is there an easy way without having a large lump sum of money????? Please Help!!!!

Perpetual tourist visa, no problem..

I'm wondering - if I apply for and get any kind of investor visa (let's say the one that costs $200,000, just for grins), does this also give my spouse the right to residence? Or does she have to also invest $200,000?

Originally Posted by expat

I'm wondering - if I apply for and get any kind of investor visa (let's say the one that costs $200,000, just for grins), does this also give my spouse the right to residence? Or does she have to also invest $200,000?

Just get the $80k reforestation visa--even better, get two! Here's a breakdown from one of the many, many sites available from Google... Panama Retirement Visa, Panama Immigration, Panama Pensionado Visa, Panama Person of Means Visa, Panama Private Income Retiree Visa, Panama Forestry Visa Forestry Visa I think all the big ticket visas have some provision for spouses--but I would consult several lawyers and take an average of the responses. Cheers.