Special Laws in Panama‍ for Entrepreneurs and Investors

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Welcome to LEGAL@work, your trusted source for legal guidance in Panama. If you're a Business entrepreneur or investor eager to explore business opportunities in Panama's thriving Export Processing Zones, Call Centers, or the dynamic Film and Audiovisual Industry, this comprehensive guide is tailored to provide you with the essential visa requirements under special laws.

Let's delve into the details, ensuring a smooth and efficient process for your business endeavors.

Key Requirements for Business entrepreneurs and Investors:

• Power of Attorney and Application: To streamline your representation, prepare a notarized power of attorney that grants authority to act on behalf of your company, clearly stating your name and nationality.
• Three Photographs: Include three recent passport-sized photographs that meet the visa application guidelines, ensuring a professional presentation.
• Certified Copy of Passport: Submit a notarized or authenticated copy of your passport, including pages with your personal information and travel history, showcasing your legitimacy.
• Certificate of Criminal Record: Obtain a certificate from the relevant authorities verifying your clean criminal record, reinforcing your credibility.
• Health Certificate: Secure a medical certificate from a recognized healthcare professional, attesting to your good health and freedom from contagious diseases.
• Sworn Declaration of Personal Background: Complete a comprehensive form providing relevant personal information, such as your education, employment history, and previous visits to Panama.
• Visa Application Form: Carefully fill out the dedicated visa application form designed specifically for Business entrepreneurs and investors applying under special laws, ensuring accuracy and completeness.
• Bank Reference or Proof of Economic Solvency: Provide a bank reference from an internationally recognized bank or present evidence demonstrating your economic solvency. This proof should exhibit a monthly income of no less than one thousand Balboas (B/.1,000.00), establishing your financial stability.
• Return Ticket: Demonstrate your commitment to returning to your country of origin by presenting a valid round-trip ticket with a one-year validity period.
• Legal Framework: These visa requirements for Business entrepreneurs and investors under special laws are based on the Constitution of Panama, Law No. 3 of February 22, 2008, and Executive Decree No. 320 of August 8, 2008. It's important to note that specific articles, including Article 46, 54, and 55, have been modified through Executive Decree No. 26 of March 2, 2009, and Law No. 38 of 200.

Congratulations on taking the first step towards your business venture in Panama! By familiarizing yourself with the visa requirements for Business entrepreneurs and investors under special laws, you pave the way for a successful and fulfilling journey. If you need further assistance or clarification, don't hesitate to consult the relevant authorities. At LEGAL@work, we are here to support you every step of the way. Reach out to our team of legal experts for personalized guidance. Wishing you the best of luck in your investment and growth endeavors in Panama!