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panama passport programs

Immediate Panama Passport Program

This program allows foreigners to obtain immediate Panamanian Passport under the condition that they make a 5 year time deposit (certificate of deposit - "CD"), at the Banco Nacional de Panama, which earns a minimum of US$750 per month in interest income.

At current interest rates (as of June 2002), this would mean that the investor would need to deposit a minimum of US$165,000 in the 5 year time deposit at the Banco Nacional de Panama. The monthly interest earned from the time deposit (CD), would be deposited directly into the applicants savings account, and the applicant can withdraw the funds in the savings account at any time.

Procedures for Applying for Panama Passport:

1. Provide all required documents, and sign the Special Power of Attorney for our law firm to handle your immigration paperwork.

2. The bank account is opened, and you make the time deposit. The bank then provides a certificate of deposit, and a copy of the time deposit contract.

3. Our law firm submits your application and documentation to the Immigration Department of Panama, for the Panama Passport.

4. Within approximately 2 to 3 weeks, the Immigration Department will issue the Panama Passport. At this point, the applicant is required to go physically to the Immigration Department for picture taking and thumb printing, for the issuance of the Panama Passport.

* Note: It is not necessary for applicants to reside in Panama to qualify for or maintain the Panama Passport, however, a short visit to Panama is required for the processing of the passport. Also, the applicant does not obtain Panamanian citizenship or legal residency through this program.

Fees:

For Primary Applicant:

Legal Fee - Processing of Panama Passport: US$5000
Government Fees and Costs: US$800

Required Documents (for Immigration processing):

1. Photocopy of valid passport of the applicant, including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all pages showing entry/exit stamps (all pages used in the passport).

2. Original Police record of the applicant, from the place of residence, duly notarized and authenticated by the Panamanian Consulate nearest you.

3. Original Birth Certificate of the applicant, duly notarized and authenticated by the Panamanian Consulate nearest you.

4. Original Marriage Certificate for the applicant (if applicable), duly notarized and authenticated by the Panamanian Consulate nearest you.

5. Six (6) passport sized photographs of the applicant.

6. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant has no contagious diseases and is in good mental and physical condition. THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA.

7. HIV Test results of the applicant, done by a licensed Panamanian laboratory, showing negative results. THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA.

Documents that our law firm will provide to you:

1. Special Power of Attorney, signed by the applicant, authorizing our law firm to process the immigration applications and documentation.

* Note: for authenticating documents through the Panamanian Consulate, please contact us to request the contact information of the Panamanian Consulate nearest you.

Required Documents (for opening bank account / CD):

1. Photocopy of valid passport of the applicant (and dependents - if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all pages showing entry/exit stamps (all pages used in the passport). The photocopy of passport should be notarized.

2. Two Original Financial Reference Letters: These can be from any bank, brokerage firm, or credit union. They should be on the financial institutions letterhead, signed by a representative of the financial institution, and show the contact information (address, tel, fax, email, etc.) for the reference to be verified. To view an example of a Financial Reference Letter, click on the underlined words.

3. Two Original Commercial Reference Letters: These can be from any company or professional (a company, attorney, accountant, etc.). They should be on the company or professionals letterhead, signed by a representative of the company (or the professional), and show the contact information (address, tel, fax, email, etc.) for the reference to be verified. To view an example of a Commercial Reference Letter, click on the underlined words.

4. Two Original Personal Reference Letters: These can be from any person that you know (a friend, family member, doctor, lawyer, accountant, etc.). They should be signed by the person, and show the contact information (address, tel, email, etc.) for the reference to be verified. To view an example of a Personal Reference Letter, click on the underlined words.

If you are interested in relocating to Panama, or obtaining legal residency in Panama, please contact us for a personal consultation.


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