ARTICLE 41: Foreign persons that prove they have invested an amount greater or equal to Two hundred fifty thousand dollars ($ 250,000) on enterprises appropriately authorized as promoters or operators of an Export Processing Zone, or on enterprises established at an Export Processing Zone, will have the right to apply for a permanent residence VISA as an investor.

ARTICLE 42: Foreign persons hired as trustworthy personnel, executives, experts and /or technicians by enterprises authorized as promoters or operators of an Export Processing Zone, or by enterprise established at an Exports Processing Zone, will have the right to apply for a temporary residence VISA valid through the extent of the labor contract. This is subject to the Labor code.

ARTICLE 43: Foreign persons that wish to come to Panama to manage transactions or businesses at Zones, already established or in process of establishment, will be able to apply for a commercial residence VISA valid for one (1) year. Previous presentation of financial certification is required.

ARTICLE 44: The acquisition of the VISAS established in articles 41, 42 and 43 of this Law, provides the right to enter and exit Panama multiple times until the VISA expires.

ARTICLE 45: The VISAS established in the previous articles will be extended, on equal conditions, to the spouse and the minor or adult sons and daughters depending on the principal applicant.

ARTICLE 46: Foreign persons, to whom a Permanent Residence Investor VISA is provided, will receive the following benefits:

1. Definite permanence with rights to a personal identification card.

2. Special resident passport (Law N°28 of February 1, 1996 voids the special passports issued in accordance to Law 25 of 1992)

3. Right to obtain Panamanian Nationality through naturalization, conforming to the numeral 1 from article 10 of the National Constitution.

Paragraph: To the investor that draws, transfer or looses his/ her investment in any way, the rights provided by this Law will be cancelled automatically. With the objective of maintaining control, the Technical Secretariat of the National Commission of Export Processing Zones will report every year the names of investors to whom the benefits must be cancelled to the Immigration Department of the Government and Justice Ministry.

ARTICLE 47: Residence VISA applications, mentioned in articles 41 and 42 of this Law, will be presented to the Panamanian Consulate or to the Immigration Department through the Technical Secretariat of the National Commission of Exports Processing Zones. Applications must include the following documents:

1. Investment certification, expedited by the Technical Secretariat of the National Commission of Export Processing Zones, in the cases of Investors or enterprises established in Processing Zones; and personnel contracts, in the case of trustworthy personnel, technicians and /or experts.

2. Certificate, expedited by the promoter of the Processing Zone, crediting the necessity of the VISA applied to by the investors, technicians, and /or experts and trustworthy personnel of the enterprises established or to be established in the Zone, conforming to the study presented by the enterprise.

3. Financial reference expedite by an internationally recognized bank, or proof of economic solvency not inferior to one thousand dollars ($1,000) of monthly income and the return tickets to the country of origin, valid for one (1) year, in case of trader and investors that come to analyze possibilities of investment or to make transactions.

4. Four (4) photographs of applicant, passport size, looking to front ,and head uncovered.

5. Medical certificate

6. Letter from the enterprise backing up the investment or the labor contract, compromising to return the applicant to the country of origin at the end of labor contract or in the case of being necessary.

7. Marriage certificate and birth certificate or depending adult and minor sons and daughters, in the case that it is needed.

8. Letter of responsibility of spouse, sons and daughters in the case that it is needed. The Panamanian consulate, once the documentation mentioned here is received and verified, will inform the Director of Migration, who after proving that there are no impediments, will authorize the VISA without any other transaction but the payment of the rights established by this Law. The Director of the Migration Department will operate in the same manner , when the applications are presented to the Migration Department through the Technical Secretariat of the National Commission of Export Processing Zones.

ARTICLE 48: The foreign person that obtains any of these VISAS through one Panamanian Consulate, must present himself or herself to the Migration Department during the fifteen (15) days following his or her arrival to Panama, to be properly registered.

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