Reforestation

Transcript

2. Provision für Käufer REFORESTATION VISA To promote the investment in Reforestation, the Republic of Panama has created the category of forest investor. The program grants the possibility to obtain provisional or permanent residency in Panama, depending on the investment amount in a government approved, qualified reforestation investment.
3. Provision für Käufer REFORESTATION VISA MODALITIES To be eligible, the applicant must invest a minimum sum of US$ 80,000.00. The visa will grant only provisional residency for 2 years and can be extended for a maximum of 6 years. PROVISIONAL RESIDENCY The procedure is divided in two stages. The first stage grants a provisional resident permit for two years and the second one grants the permanent resident permit. The minimum investment required is US$100,000.00 PERMANENT RESIDENCY – REGULAR PROCESS
4. Provision für Käufer REFORESTATION VISA MODALITIES EXPRESS PERMANENT RESIDENCY The minimum investment required is US$ 350,000.00 and the visa will grant permanent residency without further procedures. * In all modalities, if the applicant has dependents, it will be required an additional investment of Two Thousand US Dollars (US$2,000) for each dependent. * To keep the permanent residency permit, the investment must be held for a minimum period of 5 years once permanet residency is approved.
5. Provision für Käufer REFORESTATION VISA GENERAL REQUIREMENTS • Power of Attorney • Four (4) flesh-size photos • Full copy of the Passport duly registered and Authenticated by a Public Notary • Non-criminal record from the country of origin or residence of applicant • Good health certificate issued in Panama • Affidavit of personal background. • Payment of B/. 250.00 to the National Treasury • Payment of B/. 800.00 to the National Immigration Service *Additional requirementes shall be requested in case of dependents.
6. Provision für Käufer REFORESTATION VISA GENERAL REQUIREMENTS • In the case of corporations, applicants should present: affidavits by the secretary or treasurer of the business (cannot be from the applicants), verifying the activities, the ownership of the nominative shares emitted in favor of the foreign applicant, fully completed, with the total capital stock. • CPA Certificate detailing the grand total invested directly in the activity of reforestation and that the capital was paid by the applicant. (The CPA must provide copy of identity card and professional suitability card). • Copy of the resolution by the Ministry of Environment of the Forestry Registration Certification.
7. Provision für Käufer REFORESTATION VISA GENERAL REQUIREMENTS • Corporation’s Public Registry Certificate. • Authenticated copy of the applicant’s shares certificate. • Proof of direct investment in reforestation activities. • Copy of the latest income tax return of the business, detailing que amount invested in reforestation projects. If a fiscal period has not yet lapsed since the creation of the business, then the copy of the certification of inscription of the Corporate Tax ID (RUC) should be presented. *Additional requirements shall be requested in case of dependents (spouse and children). * In case of extension of provisional residency, additional requirements shall be needed.
8. Provision für Käufer REFORESTATION VISA BENEFITS § Spouse and minor children and dependents up to 25 years of age, if they are in full- time education may be included as dependents. § TAXES: Panama has a territorial taxation system, meaning only income produce within the country would pay taxes. § PERMANENT RESIDENCY: After two years of the provisional residency permit, the applicant will have the option to apply for permanent residency. § CITIZENSHIP: After being permanet resident for 5 years is possible to apply for the citizenship.
9. CONTACT US Karen Dorcy Dorcy@fischer-cie.com + 49 151 1232 9668
10. This presentation is intended to be informational. Laws are constantly changing and therefore, before acting on any information, it is recommended seeking the advice of a legal counsel for the most current version of the law. Fischer & Cie. Consulting, Corp. is not responsible for any damages arising for the use of the information before consulting an attorney. 18. August 2022 DISCLAIMER
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12. Provision für Käufer OUR SERVICES
13. Visa Services Provision für Käufer Digital Nomad Forestry Investor Friendly Nations Own Solvency Qualified Investor Work Permission Possible Possible Possible Possible Possible Tax on Foreign Income No No No No No Min. Investment in USD 0,00 100.000,00 200.000,00 300.000,00 500.000,00 – 750.000,00 Asset(s) min. Income of 36.000,00 p.a. Reforest Project Real Estate or Job- Contract Real Estate and/or Bank Deposit Real Estate, Bank Deposit Min. Time Invested Guarantees/Financing No No No No No Government Fees Nat. Treasury Paymt. 0,00 250,00 250,00 5.000,00 Immigr.-Service Paymt. 250,00 800,00 800,00 5.000,00 Provisional Residency Yes Yes Yes Yes No Time to permanent Residence No 2 years 2 years 2 years 30 days Time to Citizenship (after permanent Residence) No 5 years 5 years 5 years 5 years