There’s an easy way to get an instant visa and residency in Panama.
Yes, it’s true. For most followers of Learn About Panama time is somewhat of a luxury and doing the appropriate amount of research and planning is is top of mind. However, for a select few getting out of the U.S. or somewhere else and getting to Panama now is a priority. Getting this visa cold be your quick ticket to a wonderful life in Panama. Yes, you get the right to live in Panama immediately and as an added bonus this visa is a great way to getting your Panamanian passport.
Since I first visited Panama in 2003 I’ve checked out almost every corner of the isthmus save one—the Darién — the huge swamp, jungle and forest province which is over 150 km (99 miles) long and 50 km (31 miles) wide. This is ‘Gap’ that separates Panama from the Republic of Colombia.
Unbelievable as it may seem the Darién was also the region that Vasco Núñez de Balboa, the Spanish conquistador and explorer, crossed in 1513 to become the first European to “discover” the eastern access to the Pacific Ocean. Balboa was one tough and determined conquistador!
The Darién encompasses vast and varied terrain including deep valleys that plunge below sea level to mountainous peaks which reach over 6,000 feet in altitude. It’s also home to a huge rainforest, one of the largest in all of Panama.
Here you won’t find much other than vast, rugged and often dangerous nature. There are no fast food joints — to shopping malls — this is Central America as it has been for thousands of years. But there is one modern feature to the Darién that you may be surprised to learn about. In the forests and jungles you will discover a special open door to immediate residency in Panama. Not only that but you could also find yourself in a very safe, secure and profitable investment scheme.
I’m referring to teak.
the Advantages of Teak as aN Investment
Of all the tropical hardwoods, teak holds a unique place in the hearts of both consumers and investors, it’s akin to the way gold does in the holding of precious metals. Teak has been a valued commodity throughout tropical Asia for over 2,000 years. It is extraordinarily durable as a construction material and is used extensively in its native Asia but, since the distribution of all commodities went global teak has been coveted worldwide. It is extremely stable, durable and the unique aesthetic qualities have kept teak in high demand by ship builders and fine furniture manufactures. Teak has been used for centuries and is still recognized to this day as being perfectly suited as a finishing material be it in a home or on a boat — doors; window frames and many other applications that require a strong, stable, durable hardwood.
Crisis in Asia and lesser developed countries means opportunity for countries like Panama. The sustainable supply of teak from Asian forests is rapidly diminishing. All the while the worldwide demand for teak is on the rise. Teak prices have risen consistently even through expanded production of plantation grown teak in areas like Panama. The management and cultivation of Teak has been the center of research programs in Asian countries like India, Indonesia, Thailand and Myanmar since 1960. The result is a thorough understanding and documentation of best practices for producing high quality plantation teak. Teak is relatively easy to cultivate, it enjoys excellent growth rates, and for investors it provides a lucrative return.
When Investing in a properly managed teak project the result is a natural win-win scenario — government programs encourage reforestation through generous tax credits while the investor makes a healthy profit. For the people of Panama this kind of investment benefits everyone — new jobs are created, land is reclaimed, and the long term environmental benefits affect the entire planet.
A Win-Win for the Teak Investor in Panama
Panama Law #24 sates that if you invest in this tropical hardwood in the Darién, you are entitled to an immediate forestry visa which also gives you the right to live in Panama.
The nitty-gritty — to participate in Panamas Reforestation Investor Program — aka inversionista forestal, you need to invest $80,000 (minimum). But, not only to you obtain immediate residency, you will also benefit through the long term profitability of this stable and growing industry.
The Reforestation Visa is perfect if you want to move to Panama right away and avoid the lengthy process needed for an investor’s visa or even the Pensionado Visa (Note: Even with the Reforestation Visa you can still apply for Pensionado Status if you qualify). Under the Reforestation Investor Program there is no age limit or requirement for the residency visa other than the applicant needing to be an adult of 18 years. Also, your dependents — spouse and children under 18 — can be included under this visa.
After five years of permanent residency in Panama, you can apply to become a naturalized citizen and receive your Panamanian Passport.
As an investor you’ll appreciate these added benefits — all of the hardwood harvested is exempt from export, capital gains and real estate taxes for 25 years! Not only that but all direct and indirect investments in your reforestation project are 100% deductible from your Panama income tax.
One final point of clarification – It’s important to know that the investment in a Teak Farm and the actual residency visa are two separate acts. You begin by making your investment in a reforestation project, typically this is all done through a reputable organization — they will also manage everything for you so, you don’t even need to visit the farm, unless of course you want to. Then you get a Panamanian attorney to submit the visa application. Note that this is just one of the topics which will be covered in-depth at the upcoming Live & Invest Panama Conference – For more details on the Live and Invest Panama Conference <= Click Here
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The information expressed here is solely the opinion of the author. Nothing on this web site or in subsequent communications is to be considered personalized investment advice. Although we may answer your general questions, we are not licensed under securities laws to address your particular investment situation. No communication by any associate or representative of Learn About Panama is to be deemed as personalized investment advice.