RSS| Panama Passport and Residency Programs |
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The Republic of Panama is an S-shaped isthmus forming the land link between North and South America. This is a tax haven country with no tax. The country is known for the canal, man-made wonder stretching for over 65km or 40 miles and linking the Caribbean and the Pacific Ocean. This is the second largest banking centre in the world next to Switzerland and more than 150 banks are operating from here. |
| Panama offers citizenship to individuals by investing in a variety of options given by the Government. |
| The options offered by the Republic of Panama are 1. Immediate Passport Program 2. Bank Deposit Program 3. Reforestation Investment Program 4. Small Business Investor Program 5. Tax free Processing Zone Investor Program 6. Retired or Pensioned Program |
| Immediate Panama Passport Program |
| Under the provision of the Law N° 9, of June 24, 1987, the Republic of Panama offers international investors immediate legal residency and passport in Panama.
Under this program, applicants that invest in a 5-year time deposit at Banco Nacional de Panama (BNP) are issued Panamanian passports. The Banco Nacional de Panama is the central clearing for all Panamanian banks.The interest of the deposit must produce minimum returns of USD 750.00 per month. At the present annual interest rates of 8.25% the minimum deposit amounts to USD 165,000. The monthly interest earned from the time deposit would be deposited directly into the applicants' savings account, and the applicant can withdraw the funds in the savings account at any time. |
| DOCUMENTS REQUIRED TO AVAIL THIS PROGRAM |
| 1. Valid passport for the applicant. The pages including the picture page, name, date of birth, passport number, place of issue etc., and all the used pages of the passport. 2. Certificate of Good Health This has to be signed by a registered, licensed physician, indicating that the applicant has no contagious diseases and in good mental and physical condition. Also, a HIV Test showing negative results. 3. Police record from the place of residence for the applicant. This has to be duly notarized and authenticated. 4. Birth Certificate for the applicant. This has to be duly notarized and authenticated. 5. Marriage Certificates for the applicant. This certificate has to be duly notarized and authenticated by the Panamanian consulate near your place. . 6. Six (6) passport sized photographs for the applicant. 7. Confirmation certificate by Banco Nacional de Panama that the applicant's monthly interest earned by time deposit is not less than USD 750.00 |
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GOVERNMENT FEE: The Government fees and costs is USD 800 |
| DOCUMENTS REQUIRED TO OPEN A BANK ACCOUNT |
| 1. Photocopy of valid passport of the applicant. The pages of the passport which contain the name, date of birth, passport number, place of birth , place of issue with the picture, entry/exit stamps are required. The photocopy of the passport should be duly notarized. 2. Two original Financial Reference Letters, from any bank, credit union or brokerage firm. This should be obtained on the letter head of the concerned financial institution showing the contact information and signed by the representative of the financial institution. 3. Two original commercial reference letters, from any company or professional on the respective letterhead signed by the representative of the company and showing the contact information. 4. Two original personal reference letters from any person of your choice, with the signature and contact information of the person. |
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