Many foreigners already know that living in Panama has excellent advantages. If you are looking for nature, security, quality of life and a country where you are welcomed and welcomed by lowering taxes, that country is Panama.
But why invest in Panama? Above all, due to the low taxes on foreign companies and its excellent legal security.
Today we give you some examples of why invest and live in Panama.
You must invest in Panama, because Panama has a financial Hub that has been dollarized economic stability and a banking sector with more than 60 Licensed International banks.
In addition, Panama has an Air Hub of 5 International Airports, direct flights to more than 90 countries (North America, South America, Caribbean, Europe, Middle East and Asia). And with a Digital Hub of 7 broadband sub-marine lines that connect the world of the Internet stably (North and South America. Caribbean, Europe, Middle, East and Asia).
Panama also has a Marine Hub of two Oceans, 5 of the most active positions and the Panama Canal. Invest in Panama because it currently has 23 trade agreements that cover more than 60 countries in the world.
As if it were shortly before the impact of the COVID-19 (Coronavirus) pandemic and, despite the slowdown in recent years, Panama was among the fastest growing economies in the world, with an annual average of 4 , 6% in the last five years.
Live in Panama. Safety and Quality of Life.
Living in Panama because it is the safest country in the region, because there are benefits for the elderly foreigners, because Panama has a Multicultural community plus 160 established Multinationals, because Panama has a cooler tropical environment of Cosmopolitan Mountains.
Panama creates executive decree 722, created on October 15, 2020, with this decree the immigration subcategory of permanent residents of qualified investor for economic reasons is created.
The objective of this decree is to promote foreign direct investment in Panama.
Since the National Government announced the implementation of the new program of Permanent Residence for Economic Reasons for Qualified Investors, businessmen of various nationalities have expressed their interest in applying to the benefits granted by this initiative.
This program created in Executive Decree No. 722 of October 15, 2020, signed by President Laurentino Cortizo Cohen, has among its objectives to stimulate economic reactivation by attracting investors to boost different sectors of the economy such as real estate and construction, emphasized the director of the DNPI.
It is an important step, since it is the first time that the country has a program of this level where the qualified investor can apply from abroad, with the support of a local lawyer, and complete the process when they are in Panamanian territory.
The documentation will depend on the type of investment to be made and the duration of the process is estimated at 30 days after the approval of the first certification. In each phase, adequate controls will be given for each investment and compliance with Panamanian immigration and security regulations will be ensured, he explained.
Live in Panama. How to Apply for your Residence Permit.
To apply for the Permanent Residence Permit as a Qualified Investor, there are four options:
1. By reason of Real Estate Investment:
A. Minimum investment of $ 500,000.00 free of liens.
B. In addition to the requirements stipulated in this Executive Decree, the Certification of the Value of the Real Estate must be provided issued by the National Land Titling Authority.
2. By reason of Real Estate Investment through a promise of sale contract:
A. Minimum investment of $ 500,000.00.
B. It must be made through a trust deposit managed by a bank or trust company in the country.
C. In addition to the requirements stipulated in this Executive Decree, the following must be provided: an authenticated copy of the purchase agreement, duly registered in the Public Registry of Panama, and an authenticated copy or the original of the trust agreement.
3. By reason of investments made through a Brokerage House with a license approved by the Superintendency of the Stock Market of Panama:
A. Minimum investment of $ 500,000.00.
B. This investment must be in securities of issuers, whose businesses affect the national territory, through the Panama Stock Exchange.
C. In addition to the requirements stipulated in this Executive Decree, the following must be provided: certification issued by the Brokerage House, authenticated copy of the resolution by which the license is granted to the securities firm, and certification issued by the Superintendency of the Panama Stock Market.
4. By reason of Investment in Fixed Term Deposit in the Banking Sector:
A. Minimum investment of $ 750,000.00, free of liens.
B. In addition to the requirements stipulated in this Executive Decree, the following must be provided: a copy authenticated by the issuing bank of the fixed-term deposit certificate, indicating the holder, the value and the term of the document, and a certification from the bank stating the existence of the deposit, its holder, the value, the term, that it is free of encumbrances and that the funds come from abroad.
In order to maintain Permanent Residence as a Qualified Investor, it is necessary that the investment be maintained for a minimum period of five (5) years. If the investment ceases or ceases to exist before the expiration of this term, it will lead to the informal cancellation of the permanent residence.
Applications under this new migratory category will be received through the Single Window of Investments of the Ministry of Commerce and Industries; and they must be resolved in a period not exceeding thirty (30) business days, counted from the moment the request is received. Applications are allowed through a special attorney-in-fact to be submitted prior to the entry into the national territory of the applicant and his dependents.
During the first 24 months after the entry into force of this Executive Decree, the investment for real estate investment reasons, directly or through contracts of promise of sale, may be for the sum of $ 300,000.00 in the purchase of a good real estate in Panama, free of encumbrances.
Those foreigners who, upon the entry into force of this decree, remain in process or have initiated requests for a Provisional Permit of Permanence as their Own Economic Solvency for Investment in Real Estate, in 2020, may request the change of immigration status.
Live in Panama. Where? Obviously in Coclé.
Located on the southern coast of Panama, the province of Coclé is largely agricultural with a growing tourism sector.
For property buyers, the main areas of interest are beachfront locations such as Rio Hato, Playa Blanca and Buenaventura or, for those who prefer to be surrounded by lush, green forest and mountains, areas such as Altos del Maria and El Valle de Anton.
Coclé is a province full of contrasts, with great natural and tourist attractions. It has an extraordinary natural and folkloric wealth. Coclé is a province in central Panama. Its surface area is 4,927km² and has 260,292 inhabitants. Its capital is Penonomé
Coclé is home to important export industries such as the Sugar Mills of Ofelina and Santa Rosa, as well as Laboratories and Shrimp Farms, Tobacco Factories and others. It is also the province with the largest artisan production in the country and the second in horticultural production.
A paradise of great natural and tourist attractions. In the province of Coclé you can enjoy a rich culture, folklore, cool climate in the Anton Valley or tropical in its beautiful beaches.
The exotic El Valle de Antón attracts many visitors to see its square trees, and its famous golden frogs. This valley is also good for outdoor sports, such as rappelling, cycling, and horseback riding, and offers magnificent bird watching.
Coclé also has popular beaches, including Farallon, Rio Hato, and Santa Clara. Farallon is home to the largest resort in Panama - the Royal Decameron Beach Resort - and is a town that Panamanians associate with the good life.
An ideal place to live and to invest. Quality of life, tranquility, security and close to everything with the Scarlett Martínez International Airport. The airport runway is capable of receiving Boeing 757-200s.
Currently only Sunwing Airlines is operating regularly to this airport, with flights from Toronto-Pearson on Thursdays in low season; and from Toronto, Montreal (Pierre Elliott Trudeau International Airport), Bagotville and Quebec in high season. All these Sunwing flights use the name "Playa Blanca" as their destination. Air Transat operates with seasonal destinations, also with the name "Playa Blanca" as a destination.
Go ahead and come live in Coclé. We will give you the welcome quality that we give to all visitors who come to meet us and especially to those who want to be part of our community.