Obtaining citizenship in Panama

Description

At the current moment there are two programs on the territory of Panama that let foreigners over 18 years old get the state passport (as the second tourist passport), which gives its holder the same rights and advantages in tourist aspect that Panama citizens have. Exactly the issue covers visa-free entrance to the European countries, the countries of the Central and South America.

 On the 26^th of August 2008 there were legislative changes to the citizenship provisions that are in Panama Constitution, these changes covered the sum of investments without the terms change.

Both programs (the program of residence permit obtaining and non-resident second passport obtaining) are based on the refundable deposits, that’s why the condition on bank account opening is compulsory for each of the programs.

The program of residence permit obtaining with consequent Panama citizenship obtaining

Bank account: bank account must be opened in any local bank , not compulsory in the National bank of Panama, though we recommend this bank exactly. The term deposit at the sum no less than USD 230 000 must be introduced on behalf of one Applicant – the holder of the visa, that’s it on behalf of parents or another family member. This term deposit must be in the bank for min. 2 years, during this time the holder of account can’t withdraw the sum of basic deposit. At the same time, monthly interest on deposit can be used. In Panama there is no tax levied on the interest from term deposits and saving accounts. The basic principle of this program is that a candidate has enough funds to live in Panama without working in Panama. On the other hand, a candidate can also buy property in his name making investments in it no less than 230 000 USD.

 

Necessary documents for bank account opening:

• Power of Attorney (apostilled);

• Forms that are submitted by bank for filling in;

• The full copy of passport (apostilled) of the applicant and family members;

• Two recommendations from business partners (in English);

• Two bank recommendations (in English);

• The sum of term deposit must be 230 000 USD (this is approximate sum that’s why it can be changed in connection with family members and interest paid by the banks at the moment of application submission)

To immigrate to Panama it’s necessary to meet the following requirements.

Necessary documents for migration service:

• Power of Attorney (apostilled);

• The form that is necessary to submit to immigration service;

• Certificate from the police concerning Applicant and the wife (not older than 3 months with translation into English and notarized);

• Six color photos (standard size) of the applicant, his spouses and minor children up to 18 years old;

• Marriage Certificate of spouses and Certificates of birth of all the family members (notarized translation in English;

• Written approval of applicant’s responsibility for his family.

The procedure of residence permit obtaining:

•  Filling in and signing the forms.

• All the necessary forms and applications will be directed to you for signature and filling in.

• Opening bank account.

• Our company renders the full services on opening bank account.

• Getting Certificate of term account opening.

• As soon as the account is opened the bank will give the Certificate of the term deposit that is the ground for application for visa obtaining.

• Obtaining.

As soon as visa is approved we will help to organize the business trip to Panama for plastic card obtaining that gives a permit for temporary residence.

 Note.

Initially the Applicant gets ID card, valid for 3 months. Such card is issued for the time of documents consideration at initial application. After positive reply the Applicant and all the family members get plastic card valid for 1 year, that is also named «investor’s visa» and is approval of “residence permit” obtaining. Also, parallel to residence permit it’s possible to get permit on unlimited times of entrance and departure from the country. In a year after this card obtaining it is possible to make application for Panama passport obtaining. After 5 years of constant residency expiration in Panama the Applicant can make application for citizenship in Panama. However it’s important to remember that the Russian Federation and Panama don’t have agreements on double citizenship that’s why when getting citizenship of Panama it’s compulsory to refuse the Russia Federation citizenship.

Also the sum of money on the term deposit can be withdrawn only after 2 years expiration after yearly “investor visa” obtaining.

 The second passport obtaining program

(it is valid together with civil one)

Bank account: bank account must be opened in the National bank of Panama. The term deposit must be introduced on behalf of one Applicant, that’s it by parents or other family members. This term deposit must be kept for minimum 5 years, during this time the holder can withdraw bank interest per month. In Panama there is no tax imposed on interest got from term deposit or saving account. The basic principle of this program is that the applicant has enough funds to live in Panama without working there.

 Necessary documents to open bank account:

•  Power of Attorney (apostilled);

• All the necessary bank forms, filled in and signed;

• The full copy of passport (apostilled and notarized translation in English) of the applicant and family members;

• Two recommendations from business partners (in English);

• Two bank recommendations (in English);

To immigrate to Panama it’s necessary to meet the following requirements.

Necessary documents for migration service:

• Power of Attorney (apostilled);

• The form that is necessary to submit to immigration service;

• Certificate from the police concerning the Applicant and wife (spouse) (notarized translation in English);

• Six color photos (standard size) of the applicant, spouse and children up to 18 years old;

• Marriage Certificate of spouses and certificates of birth of all the family members (notarized translation in English);

• Written approval of applicant’s responsibility for his family.

The procedure of the second passport obtaining will be the following:

• Filling in the forms and applications.

• It’s necessary to fill in the forms and applications, that will be directed to you for signature and filling in.
  
• Opening bank account. 
• As soon as the bank opens account, it will submit the certificate of term deposit opening. Obtaining such a Certificate is compulsory condition for application for visa getting (the second passport).

• Passport obtaining.

As soon as visa is approved, we will help to organize a business trip to Panama for passport obtaining.

Note.

Passport will be identic to passport of the citizen of Panama. However there will be a note that this passport belongs to “non-resident”. This program is active until monetary funds are in the bank that’s why as soon as the Applicant decides to withdraw monetary funds he will have to pass the passport. This diversifies such a program from the above one, on the basis of which the Applicant can obtain citizenship and passport of the citizen of Panama, having been lived in Panama for 5 years.

The passport of Panama gives the right of visa-free entrance to the following states (63 states) not depending on the program chosen:

 

Austria		Guatemala	Cyprus	Nicaragua	Eastern Timor
Andorra		Germany	Columbia	Norway	Philippines
Aruba		Honduras	Costa-Rica	Paraguay	Finland
Argentina		Grenada	Latvia	Poland	France
Bahames		Greece	Lithuania	Portugal	The Czech Republic
Barbados		Georgia	Liechtenstein	Salvador	Chili
Belgium		Denmark	Luxemburg	St. Vincent and Grenada	Switzerland
Bolivia		Dominica	Mauritius	Saint Kitts and Nevis	Estonia
Brazil		Israel	Malaysia	Santa Lucia	El Salvador
Vatikan		Ireland	Malta	San-Marino	South Korea
UK		Iceland	Mexico	Seychelles
Venezuela		Spain	Monaco	Singapore