Reforestation Visa

This visa allows you to become eligible for a permanent residency visa and eventually citizenship by investing directly and purchasing land for reforestation, or indirectly by investing in a certified reforestation project.

Applicant can invest in cash wood crops such as teak plantation (known as teca). The investment must be made for a minimum of 10 years and there are no guaranteed returns. However, the applicant is compensated through numerous and generous tax incentives.

Benefits

• Preferential loans
• 100% of the investment into reforestation is income tax deductible
• Income tax exemption on all revenues derived from the commercialization of forest products
• Import tax exemption on all goods and materials used for reforestation / forest plantations
• Real estate tax exemption & transfer tax exemption for farms with half of total area dedicated to reforestation (minimum 200 hectares)

There are two types of visas under this category:

Reforestation Micro-Investor ($40,000)
Reforestation Macro-Investor ($80,000)

Reforestation Micro-Investor

Applicant must invest directly or indirectly a minimum of $40,000 (plus $4000 per dependent) for a period of 10 years in a certified reforestation project. Certification is provided by the Ministry of the Environment's Forestry Department.

Applicant is issued a one-year, provisional residency visa, which can be renewed three times; after the fourth year, applicants can apply for permanent residency and eventual naturalization.

Reforestation Macro-Investor

Similar requirements to Micro, except that investment must be at least $80,000 (plus $4,000 per dependent)

Applicants receive a one-year provisional residency visa, after which they can apply for permanent residency and citizenship.

Documents Required

• Certificate of Good Standing from the Public Registry for the Panama company or foreign company in which the investment has been made
• Certificate of Investment from the company in which the investment has been made
• Certificate of approval from the Ministry of the Environment
• Copy of share certificates in nominative form
• Copy of company's tax registration
• Deposit slip of investment
• Proof of reforestation activities

Applicant and dependents must also gather the following for the visa application:

• Good Health Medical Certificate from Panama
• Police report from the country where you have lived the last two years
• Copy of passport
• 4 Passport-sized photos
• Marriage certificate (for dependent spouse); must be official
• Birth certificate (for dependent children under 18 years of age)
• An additional $4000 investment for each dependent

Please note:

• These documents (except the Health Certificate) should be gathered before arriving in Panama
• All official documents must be issued within 3 months of application
• No copies of official documents will be accepted (except in the case of the passport)
• All documents must be notarized and certified by the nearest Panama consulate**
• Certified translations of all non-Spanish documents by a recognized public office translator in Panama are also required
• Your passport should be valid for at least six months from the date you apply for residency
• Two short visits to the Immigration Department in Panama will be necessary, to register your passport, and to take the picture for your Permanent Resident card once the application is approved; otherwise you need not remain in Panama for the application process.
• If you wish to leave Panama and re-enter during the application process, you must apply for a Multiple Reentry Visa

Our Services

Vertical Realty will provide you with all necessary forms, including:
Power of Attorney, authorizing our law firm to process the immigration applications and documentation.
We will assist you in gathering all the necessary documentation to ensure the process is as smooth and unhindered as possible. Once all the documents are in place, we will review, prepare and submit the application on your behalf with Panama's Department of Immigration.

Useful Links

Ministry of the Environment: Technical guide for reforestation in Panama by the Forestry Department (Spanish only)
Department of Immigration
Panama Public Registry