Tags: Panama, Panama Law, Panama Visas, Panama Immigration Law, Panama Reforestion Visa, managed forests, PanAmerican Properties, ANAM, paulowniaThe new Immigration Law of the Republic of Panama, Executive Decree No. 320 of 8 August 2008 which regulates law No. 3 of February 22 2008 has made substantial changes in the requirements to be eligible to apply for a reforestation visa in this country. Section No. 2 of this law on page 22 of the original text which can be read in its entirety in English at the following url http://www.panampro.com/index_archivos/law.htm has increased the minimum investment from $40,000 USD to $60,000 USD and has added an additional requirement of the acquisition of at least 10 hectares of land.
This provision of the law allows both for individual or corporate ownership of the land or an investment of at least 10 hectares of managed forest relieving the investor from the necessity of managing the property themselves and dealing with the onerous labor laws, the social security requirements and the constant holidays which plague the nations development.
However much is to be said about the structure of the law. Projects now need to be registered by ANAM, the country’s National Environmental Agency which hopefully will establish stricter controls and regulation of reforestation in Panama.
This new legal initiative opens the door for better regulation of tax laws regarding reforestation and greater opportunity for protecting our nation’s forests by establishing “Chain of Custody” requirements for these managed plantations. Hopefully it will be the beginning of more selective requirements controlling which species of tree will be eligible for tax exemptions.
One such tree should be paulownia elongata, the Princess Tree, because of not only its high market value but because of the benefits it offers to Panama. Paulownia has a complete growth cycle in 8-10 years reaching the size of native hardwoods in one third the time. Such a growth rate offers potential opportunities to eliminate the crisis of extreme poverty in the rural areas of the country.
Paulownia also offers nutritive value to local fauna and the top soil because its leaves have a 26% protein content and rapidly decompose. Unlike teak and other hardwoods, paulownia creates natural fire barriers during the dry season because its ignition point is 425 degrees centigrade four times that of boiling water.
For more information on paulownia in Panama you may visit our web site www.paulownianow.org or for investment opportunities in managed paulownia forests of Panama www.panampro.com. You may also contact us via email at info@paulownianow.org
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