If you do not have $300,000 in funds to invest here, you can still get a visa.  This one requires $60,000 and can get you started in a profit making venture if you have an AG background.

This is a reprint from the Visitor written by the  Staff at Panama Offshore Legal Services.

Last October the U.S. Congress approved the USA – Panama Fair Trade Agreement which opens up new opportunities for exporting Panama goods into the U.S. duty free.

One industry which will take advantage of this new treaty is Panama’s agriculture sector. Panama makes it easier for foreigners to invest in agricultural products with the Agricultural Investment Program, adopted in 2008. With as little as $60,000 foreigners can become temporary residents for six years by investing in Panama farms, aquaculture or agriculture.

Two years, thrice

This visa is for two years and renewable three times, making it a six year visa. The agribusiness must be in areas which the Panama Department of Farm Development considers to be of national interest. The $60,000 investment increases by $500 for every dependent the foreigner includes with the visa program which includes spouse and direct family members. When the investment funds are deposited into a Panama bank the bank will issue a letter verifying the funds and their agribusiness purpose to the immigration department.

Pricey piñas

The most popular fruit grown in Panama is the pineapple because it is similar to the Hawaiian variety, being sweet and juicy. Panamanian pineapples are being shipped to Russia where they are considered a delicacy fetching as much as $50 a pound.

The United States won’t pay that much for Panama pineapples but they can compete with the Hawaiian pineapples for the first time because of the USA Panama Fair Trade Agreement. There may be good investment opportunities with exporting pineapples from Panama to the U.S.

Local residents are “in the know” on beef

Expats who live here can attest to the fact that Panama beef is so lean that while the ground beef is top notch their steaks and other cuts of beef are very chewy. Better cattle raising methods and technologies are needed in Panama. With the right investments Panama’s cattle industry can improve. Future Panama beef can become as good as the U.S. choice and prime cuts as to be exported to the U.S. duty free.

Panama raises decent pigs and investors are needed for their pork industry whose products can be exported to the U.S.

The most popular fruit grown in Panama is the pineapple

And in the sea

Panama also has a growing aquaculture industry with shrimps, prawns, and warm water lobsters available daily from the two oceans bordering the country. This is an area with growth potential as there is a need for shrimp farms which can produce large shrimps and prawns to be exported to the U.S.

Coffee, of course

Panama’s coffee is a growing industry where our coffee has recently won distinguished international coffee tasting awards. There are coffee farms for sale which would provide another good investment opportunity to grow first class coffee beans to be exported to the U.S. as beans to be roasted or as ready to grind roasted beans or ground coffee.

Bananas and coconuts are also popular in the U.S. and Panama grows decent ones. The local avocados are excellent which can also be exported to the U.S.

Panama also grows the more exotic fruits sold in the U.S. like plantains, mangos, and papayas.

Whether foreigners want to invest in any of the products mentioned here or wish to come up with new products to be grown here this program can keep the investor and his family in Panama for six years for making a small investment. Consult with a competent Panama law firm before purchasing farms or making an agribusiness investment or applying for this immigration visa program.