In April 2006, the Department of Immigration reactivated the immigrant category of Reforestation Investor. With this visa, foreigners can become eligible for a permanent residency visa and eventual naturalization. You can either invest directly by purchasing land for reforestation, or indirectly by investing in a certified reforestation project.
This kind of visa is usually beneficial for those who would like to invest in cash wood crops such as teak plantations; however, it should be noted the investment must be made for at least 10 years, and there are no guarantees on returns. This category is similar to the Business Investor category, except there are number of tax incentives in place for Reforestation Investors.
To further promote investment in reforestation, the Panamanian government has in place many different types of incentives and preferential loans. One hundred (100)% of the investment into reforestation is income tax deductible, income tax exemption on revenues derived from the commercialization of forest products, import tax exemption on 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)
As a Reforestation Micro-Investor, you must directly or indirectly invest a minimum of $40,000 USD (plus $4000 for each dependent) for at least 10 years in a certified reforestation project. Certification is granted by the Ministry of the Environment's Forestry Department.
Once approved for this type of application, you will be issued a one-year, provisional residency visa, which can be renewed three times; after the fourth year, you can apply for permanent residency and eventual naturalization.
As a Reforestation Macro-Investor, you must directly or indirectly invest a minimum of $80,000 USD (plus $4000 for each dependent) for at least 10 years in a certified reforestation project. Certification is granted by the Ministry of the Environment's Forestry Department.
Once approved for this type of application, you will be issued a one-year, provisional residency visa, after which you can apply for permanent residency and eventual naturalization.