Machine with Artificial Intelligence Cannot Be Considered as an Inventor
14/08/2022Moratorium Announced!
20/08/2022The Qualified Investor Permanent Residency Program in Panama grants residency in 30 days with an investment of US$300,000.00..
Por: Ayleen Quintero – Asociada
The Qualified Investor Residence Permit was created through Executive Decree No. 722 of October 15, 2020, and is a migration category that grants permanent residency in Panama to foreigners who invest a minimum of five hundred thousand dollars (US$500,000.00) from abroad, under one of the four (4) modalities that we will explain later. However, it is important to highlight that this Decree also provided for an exception allowing applicants to apply for this residency with a minimum investment of three hundred thousand dollars (US$300,000.00), provided that the applicant chooses one of the modalities related to investment in the purchase of real estate. This exception will only be available until October 15, 2022. The modalities under which one can apply for this category are: Real Estate Investment, Real Estate Investment through a Purchase Promise Contract (both for an investment of US$300,000.00, only until October 2022), Investments through a Securities Brokerage (US$500,000.00), and Investment through a Fixed-Term Deposit in the Banking Sector (US$750,000.00). Under this category, we can state, among other general requirements and conditions, that the most important points to demonstrate within the application are:- Proving that the funds come from a foreign source.
- The investment must be maintained for a minimum of five (5) years, which will be verified annually.
- Foreigners with five consecutive years of residence in the Republic who, after reaching adulthood, declare their intention to naturalize, expressly renounce their original nationality or any other nationality they hold, and prove that they have knowledge of the Spanish language and basic knowledge of Panamanian geography, history, and political organization.
- Foreigners with three consecutive years of residence in the Republic who have children born here to a Panamanian parent or a spouse of Panamanian nationality, if they make the declaration and provide the proof mentioned in the previous point.
- Nationals by birth of Spain or a Latin American state, if they meet the same requirements in their country of origin that Panamanians must fulfill to naturalize.
- Argentina
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- Spain
- Guatemala
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- Mexico
- Nicaragua
- Paraguay
- Peru
- Uruguay