Solvency

Transcript

2. Provision für Käufer Law N° 16, of June 30,1960 created the category of self-economic solvency within the permanent residency programs. The visa grants permanent residence in the country and can be requested by foreigners who invest the minimum sum of US$300,00.00 (from foreign source). The procedure is divided in two stages. The first stage grants a provisional resident permit for two years and the second one grants the permanent resident permit. SELF ECONOMIC SOLVENCY VISA
3. SELF ECONOMIC SOLVENCY VISA INVESTMENT MODALITIES Real Estate Investment Fixed Term Deposit Account US$ 300,000.00 US$ 300,000.00 The term deposit must be established in a local Bank in Panama for a minimum period of 3 years. Purchase must be done without financing. It will be also required to provide proof of financial solvency to cover your living expenses in Panama.
4. SELF ECONOMIC SOLVENCY VISA INVESTMENT MODALITIES Fixed Term Deposit & Real Estate US$ 300,000.00 This option combines a 3 year term deposit with Panama real estate purchase. +* 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.
5. Provision für Käufer SELF ECONOMIC SOLVENCY 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.
6. Provision für Käufer SELF ECONOMIC SOLVENCY VISA GENERAL REQUIREMENTS § Payment of B/. 250.00 to the National Treasury § Payment of B/. 800.00 to the National Immigration Service *Additional requirements shall be requested in case of dependents (spouse and children).
7. Provision für Käufer SELF ECONOMIC SOLVENCY 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.
8. CONTACT US Karen Dorcy Dorcy@fischer-cie.com + 49 151 1232 9668
9. 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. 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