SECOND PASSPORT
The Republic of Panama through a special legislation, allows a foreign person to obtain a passport and residence. This program allows the quick acquisition of a passport, we say quick because it only needs to meet a series of requirements to complete the application. Basically this consists of completing a certificate of deposit in favour of the passport’s beneficiary for a five-year term in the National Bank of Panama which should generate a minimum amount of $2000 a month. At the moment according to the current interest rates this deposit should be for the amount of $ 600 000. The interest should be deposited in a savings account that may be one of the following: Clave/Plus/Cirrus, etc. Provided that the same bank allows the beneficiary to withdraw funds in any part of the world, the benefits of having this passport does not imply the necessity to live in Panama permanently. Requirements to Obtain a Visa as an Annuitant - Power of Attorney and Request through a lawyer. The power of attorney should include the general details of the interested person (exact address, telephone number) and the parent’s full name and nationality. All the general details of the lawyer should be specified as well (office address, telephone number, fax number and PO Box, if there is one), all the attached documents and the right foundation.
- Medical Certificate of good health, issued within the three months prior the date it will be presented (It should include the date, signature and seal with the name, code and registration number of the doctor).
- Criminal record from the country of origin (This is necessary only when the person has been in Panama for less than three years of continuous residence).
- Two sets of the complete passport photocopy, each one legalised by a public notary.
- Four current ID card size photographs.
- Original passport valid for at least 6 months.
- A certificate issued by the National Bank of Panama where it states that the person earns a minimum income of seven hundred and fifty dollars ($750), coming exclusively from the interest as a product of the certificate of deposit, free of tax of any nature. The above mentioned certificate of deposit should be for a period of no less than five years.
- A copy of the certificate of deposit or the contract legalised by The National Bank of Panama.
- Recorded statement on the personal background of the interested person and the officer of the National Direction of Migration and Naturalisation who receives it (The Direction of Migration will provide the form).
- Two sets of additional copies of all the presented documents, except for the passport.
Note - In the event that the application includes dependants (only wife and minor children) the requirements for a Visa to immigrants as resident dependants should be included, besides the two additional sets of copies.
- All the documents issued in the foreign country should be presented duly apostilled or legalised by the Panamanian Embassy or consular office in the country that issues them and by the Ministry of foreign affairs of Panama.
- All the documents issued in a foreign country which language is not Spanish should be translated by an official public translator who needs to be recognised by the Ministry of Government and Justice.
Requirements for the Opening of a Certificate of Deposit / Bank Account
at the National Bank of Panama - Fully notarised copy of the passport from the first to the last page.
- Two reference letters from any bank, financial institution, stock broker or credit union duly signed by whoever issues it, including address and contact information for further verification.
- Two commercial reference letters, it may be from any particular person who has commercial references. Duly signed including address and contact information for further verification.
- Two personal reference letters, which can be from your lawyer in the foreign country or an accountant. Duly signed including address and contact information for further verification.
Forms are provided by our office and should be completed at the bank. |
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