Investor in processing zones for export

Our law firm, LEGAL@work, specializes in helping clients navigate the legal process of obtaining a Permanent Resident Permit through special investment policies in Export Processing Zones (PPT-IZOP) in Panama. This type of permit is available for foreign investors who can prove that they have invested a minimum of 250,000 balboas in a properly authorized company operating in an Export Processing Zone, as outlined in laws 25 of 1992.

To apply for this type of permit, there are several requirements that must be met, including a notarized power of attorney and legal representative, three passport-sized photographs, a certified copy of the applicant's passport, a criminal background check, a health certificate, and two certified cheques, one for 250 balboas to be paid to the National Treasury and one for 800 balboas to be paid to the National Migration Service. Additionally, the applicant must provide a sworn statement of personal history, a certification from the National Export Promotion Director of the Ministry of Commerce and Industry, demonstrating the investment, a certification from the promoter of the project, and a letter from the bank detailing the origin of the funds.

Once the PPT-IZOP permit is granted, the applicant may then apply for a Permanent Residence Permit for Special Investor Policies in Export Processing Zones (PRP-IZOP), for which the same requirements apply, except that the criminal background check and the two certified cheques are not required .Additionally, the applicant must provide proof of compliance with national income tax obligations, as well as any other documents that may be required by the relevant authorities.

At LEGAL@work, we understand the complexities of the legal process and are committed to helping our clients navigate it in a positive and professional manner. Our team of experienced lawyers will work closely with you to ensure that all the necessary requirements are met, and that your application is processed in a timely and efficient manner. We also provide transparent and accurate cost estimates, exclusive of any legal fees, so that you can budget accordingly.

Steps required for PPT-IZOP application:

• Notarized Power of attorney and legal representative
• Three passport-sized photographs
• Certified copy of the passport
• Criminal background check
• Health certificate
• Two certified cheques (one for 250 balboas and one for 800 balboas)
• Sworn statement of personal history
• Certification from the National Export Promotion Director of the Ministry of Commerce and Industry
• Certification from the promoter of the project
• Letter from the bank detailing the origin of the funds.

Steps required for PRP-IZOP application:

1.     All the steps required for PPT-IZOP application.

2.     Proof of compliance with national income tax obligations

3.     Any other documents that may be required by the relevant authorities.

Estimated costs:

• PPT-IZOP: 250 balboas to be paid to the National Treasury and 800 balboas to be paid to the National Migration Service
• PRP-IZOP: No additional cost

Please note that these costs are exclusive of any legal fees.