Bill 299.

Summary.

The bill proposes to grant every qualified investor the right to be issued a special travel document, subject to the provisions and requirements of the proposed law and its implementing regulations. To bring this category within the functions of the passport issuing authority, it amends Articles 20, 23 and 24 of Law 32 of April 23, 2013, which created the Passport Authority of Panama (AUTORIDAD DE PASAPORTES DE PANAMA).

The amendment to Article 20 assigns the Authority responsibility for issuing and authorizing ordinary electronic passports, issued only to Panamanian nationals. It also assigns the Authority the issuance, upon request from the Ministry of Foreign Affairs (Ministerio de Relaciones Exteriores), of diplomatic, consular, official and special passports, as well as passports for retired rentiers and qualified investors recognized by the National Migration Service (Servicio Nacional de Migración). The bill thus expressly includes qualified investors among the groups covered by this provision on passport issuance.

The revised Article 23 assigns the Authority the issuance of passports to foreign nationals who benefit from a Retired Rentier Visa or a Qualified Investor Visa, provided the relevant visa has been duly approved by the National Migration Service. It places both categories under the immigration classification known as “special policies” and refers to Article 196 of Executive Decree 320 of August 8, 2008, and Executive Decree 722 of October 15, 2020. Immigration approval is therefore linked to passport issuance for the specified beneficiaries.

The amendment to Article 24 sets out what applicants must provide when seeking a passport on the basis of either visa. Applicants or beneficiaries must submit to the Authority a duly authenticated administrative decision issued by the National Migration Service approving their immigration status. They must also pay the applicable fee and charge and complete a form containing their general particulars before the Authority. The provision allows the Authority to request additional requirements from the foreign beneficiary when it considers them appropriate.

In its final provisions, the bill states that the proposed law would prevail over any conflicting special rule of equal or lower rank. It reiterates that Articles 20, 23 and 24 of Law 32 of April 23, 2013 are amended, directs the Executive Branch (Órgano Ejecutivo) to issue implementing regulations within no more than six (6) months of promulgation, and provides that the law would take effect upon promulgation. Its subject matter relates to the Passport Authority of Panama, the National Migration Service, the Ministry of Foreign Affairs and the Executive Branch; it could concern qualified investors, retired rentiers, and the investment and immigration services sectors.