The Panamanian Government grants foreigners the right to obtain legal residency in Panama under the condition that they have invested at least US$60,000  and a minimum of 10 hectares in a Certified Reforestation project in Panama. This reforestation project requires to be Certified by the Panamanian Department of Environment (Asociacion Nacional del Medio Ambiente or ANAM), through a Panamanian Forestry Registry. Foreigners in Panama can buy reforestation land and register their reforestation project in their own individual names or in the name of a Panamanian corporation. We will examine the procedures and protocols for the later since it is far more advantageous for reasons such as anonymity, asset protection, flexibility and lower taxation. SETTING UP YOUR CORPORATION Provide the name of your Panama corporation.Panama Corporations must include the prefix "Inc.", "Incorporated", "Corp", "Corporation" or "S.A." and have a unique name not used by another corporation already registerred. Your law firm can assist in checking and verifying the name. Provide your Personal Information.For the Reforestation Investor Visa,  the Applicant must be appointed as the President and Legal Representative of the Corporation. If you wish to buy the Property in your Personal Name, then you must either be physically present in Panama to sign the public deed of purchase contract in front of a Notary Public, or you could grant your attorney power which must be authenticated through the consulate/embassy of Panama nearest you. The registered Capitalization of the Corporation will be US$40,000, which is the amount of your Reforestation Investment. BUYING THE LAND Your attorney will draft Purchase Contract between you and the reforestation project land owner. The purchase ammount plus pre-determined attorney and registration fees is sent (in full) to your lawyer's escrow account or an escrow account of your choice. This is done so your attorney can coordinate all the necessary payments, and services such as: Property purchase, Corporation set up, Corporation Taxes, ANAM registration fees, Immigration Visa fee and expenses. Any reputable attorney will complete and retain for you all documentation such as,Escrow Contract,Wire Deposit Notification Form, Check Deposit Notification Form and Disbursement Request Form. Your attorney coordinates "The Closing", which requires payment to the seller and registration of the contract and title transfer registration at the Public Registry of Panama in your corporation. NATIONAL ENVIRONMENTAL AUTHORITY (ANAM) REGISTRATION Your Corporation (or you ersonally as owner of the land, depending on the option you chose), as the new owner of a Panama Reforestation Project, must be registered at ANAM. Your attorney will draft a Minute of Shareholders of the Corporation, signed by the Directors, where it is authorized to develop the Reforestation Project, as well as,the Power of Attorney and the Registration request of the Corporation (or the Registration request from your Personal Name) at ANAM. PASSPORT REGISTRATION The requirements are: 1. Two (2) passport sized photographs of the applicant (and dependents - if applicable). 2. Complete registration Form (attorney will provide this to you which you only need to sign). 3. Original passport, and one (1) photocopy of passport (the original passport will be returned to you immediately after the registration of it). Note that all Passports must have a validity of more than 3 months. REFORESTATION VISA APPLICATION The Panama Reforestation Investor Visa processing is divided in the Provisional Resident Visa and  the Permanent Resident Visa.Prior to the presentation (application) of the any of these Visa Options, the following requirements and documents that must be completed: Special Power of Attorney, signed by you (and dependents - if applicable), authorizing your attorney to process the Immigration applications and documentation (we would draft it and have it ready for your signature).The Provisional Resident Visa request is drafted and signed by your attorney). A Certificate of Good Health is issued by a licensed Panamanian hospital or clinic and signed by a registered, licensed physician, indicating that you (and dependents - if applicable) have no contagious diseases and is in good mental and physical condition. This must be done during your initial visit to Panama. You then sign a Letter of Responsibility, whereby you take responsibility for your dependents, if applicable (your attorney will draft it and have it ready for your signature). Your attorney will obtain a Certification from the Public Registry of Panama for your Corporation. Your attorney will get a Certification from an Authorized Public Accountant certifying the investment amount of US$60,000.00 in the Reforestation Project and the Capitalization amount and Shares issued of the Corporation for US$60,000.00.The Secretary of your Corporation also certifies the amount of Shares issued. Your attoney must also get the National Environmental Authority certification of your Corporation registration at the Forestry Registry and Inspection of the reforested lot. Your attorney will also provide the  bill of sale of the lot and your Declaration Form signed by you. You Must Also Provide: Photocopy of complete (entire) valid passport (and dependents - if applicable), including the picture page (showing the picture, name, date of birth, passport number, place of issue, etc.), and photocopies of ALL other pages (all pages of the passport). Original Marriage Certificate (for the spouse - if applicable) and Original Birth Certificate (for dependents - if applicable), duly Notarized and authenticated by the Panamanian Embassy or Consulate nearest you (or these documents may be authenticated by appostile instead). It is important that this document must be "recently issued", not more than 3 months since the date of the issuance of the document. This document must be "original", "updated", "official" and "authenticated". Six (6) passport sized photographs of you (and dependents - if applicable). Original Police record,(and adult dependents - if applicable) from the country of last 5 years of Residence, duly Notarized and authenticated by the Panamanian Consulate in the country of issue (or this document may be authenticated by appostile instead). It is important that this document must be "recently issued", not more than 3 months since the date of the issuance of the document. This document must be "original", "updated", "official" and "authenticated". One Bank Reference Letter from your bank (and adult dependents - if applicable), duly Notarized and authenticated by the Panamanian Consulate in the country of issue (or this document may be authenticated by appostile instead). Note: for authenticating documents through the Panamanian Consulate, please contact us to request the contact information of the Panamanian Consulate nearest you. All documents that come in a language other than Spanish, have to be translated in Panama through an official certified translator in Panama. i) Provisional Resident Visa Steps Submit Application to Immigration Department: Your attorney will submit the documents to the Immigration office. All documents must be completed, if not the Immigration will not process the package. Provisional 3 Month Resident Card: A short visit to Panama is required. The Immigration Department will issue a provisional 3 month Provisional Resident card, while they process the 1 year Provisional Residency Resolution. (NOTE: Possibility of Delays: If the Immigration Department has not finalized processing of the 1 year Provisional Residency Resolution within the 3 month period, then additional time may be required). Provisional 1 Year Resident Card: Once the Resolution is issued for the 1 year Provisional Resident Visa, then the 1 year Provisional Resident Card will be issued and another short visit to Panama is required. ii) Permanent Resident Visa Steps Submit Application to Immigration Department: Prior to the presentation (application) of the Permanent Resident Visa, we must complete the documents required by the Immigration Department (Your attorney will prepare these documents, and applicant will need to sign them). Once all documents are prepared, your attorney will submit the documents to Immigration. You must be present in Panama at the moment of the application. Provisional 3 Month Resident Card: A short visit to Panama is required. The Immigration Department will issue a 3 month provisional resident card while they process the final Resolution of the Permanent Resident Visa. (NOTE: Possibility of Delays: If the Immigration Department has not finalized processing of the Permanent Residency Resolution within the 3 month period, then additional time may be required). Permanent Resident Visa: Once the final Resolution is issued, then you will be registered at the Civil Registry, where your Permanent Resident Card (this is called "Cedula" in Spanish) will be issued. A visit to Panama is required for you to take the picture at the Civil Registry. MULTIPLE ENTRY/EXIT PERMIT At the submission of your applications for residency in Panama, a Multiple Entry-Exit permit will be applied for allowing you to enter and exit the country as an immigrant instead of a tourist. NATURALIZATION After five (5) years of being a Permanent Resident in the Republic of Panama (you do not need to reside in Panama during those 5 years), you qualify for Naturalization (Citizenship). The naturalization process requires the presentation of a Naturalization application to the Immigration Department, along with the required documentation. Once you become naturalized (become a citizen), you will have the right to acquire a Panamanian Passport.