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Panama Qualified Investor Permanent Residency
Obtain Panamanian permanent residence directly through real estate, securities or a fixed deposit — no temporary residence first.
Reviewed by Fergus Wu · Updated October 2026
Programme overview
Panama’s Qualified Investor programme lets investors obtain permanent residence directly through real estate, securities or a fixed deposit. New rules in force from September 2026 set different thresholds for new-build and resale property and tighten checks on the source of funds and investment structures. Panama taxes on a territorial basis, only taxing income generated in Panama.
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InvestmentFrom USD 300,000
Investment routesReal estate, securities or fixed deposit
StatusPermanent residence directly
Stay requirementVisit at least once every two years
Summary
Under Executive Decree No. 17 of 2026, the minimum is USD 300,000 for new-build property and USD 500,000 for resale property; alternatively USD 500,000 in securities or a fixed deposit (USD 500,000 at a state bank or USD 750,000 at a private bank). The investment must be held for at least five years and funded from abroad. On approval you receive permanent residence directly, and after five years you can apply for citizenship if you meet the conditions.
Key benefits of Panama Permanent Residency
- Permanent residence directlyApproval gives you permanent residence straight away, with no temporary residence stage first.
- Clear statutory timelinesUnder Executive Decree 17 of 2026, the statutory limits are 15 working days for investment certification and 30 for the immigration decision.
- Apply before you travelA local lawyer can file before you enter Panama; you visit later for biometrics and to collect your card.
- One visit every two yearsNo need to relocate; you generally need only visit Panama at least once every two years and keep the investment.
- Three generations in one applicationCovers your spouse, children under 18, children under 25 in full-time study, and dependent parents.
- Add family after approvalIf you marry or have a child after approval, the new spouse or child can be added.
- Territorial tax systemPanama taxes only income from Panamanian sources; foreign income is generally not taxed in Panama.
- From USD 300,000, several routesChoose a new-build property, securities, or a fixed deposit with a state bank (USD 500,000).
- A US-dollar economyThe US dollar is legal tender, pegged 1:1 to the local balboa, so investments and living costs are in dollars.
Why Global Immigrate for Panama Permanent Residency
- families approved
- 6+
- approval rate
- 100%
- offering this programme since
- 2021
GI Group overseas property team
GI Group’s overseas property team helps you find, negotiate and buy — and later manage lettings.
Clear, transparent fees
All service fees and third-party costs are set out in writing before you sign — no hidden charges — and our refund terms are explained clearly.
Planning beyond immigration
GI Group’s teams can handle pre-immigration tax, asset allocation, your children’s education and overseas property at the same time, so the arrangements never conflict.
Requirements
Investment options
Choose one of the following options; the other requirements are listed below.
- Option 1USD 300,000New-build property
- Option 2USD 500,000Resale property
- Option 3USD 500,000Securities
- Option 4From USD 500,000Fixed deposit
- USD 500,000 at a state bank
- USD 750,000 at a private bank
Applicants generally need to meet the following:
- Investment funds from abroad, held for at least five years
- A clean criminal record and proof of the source of funds
- Health requirements met
Investment rules
Investment requirements in detail
Under Executive Decree No. 17 of 2026 (published and in force on 16 September 2026, replacing Decree 722 of 2020), the applicant must make one qualifying investment with their own funds brought in from abroad. The Ministry of Commerce and Industries (MICI) certifies the investment first, and the National Migration Service then decides on permanent residence. Only amounts actually paid, net of any mortgage or other charge, count towards the minimum.
New-build property (first sale)
MinimumUSD 300,000
Requirements and notes
Unoccupied property sold for the first time by the developer; off-plan allowed via trust or bank guarantee
Resale property
MinimumUSD 500,000
Requirements and notes
Property previously sold, occupied, let or transferred to an unrelated third party
Securities
MinimumUSD 500,000
Requirements and notes
Bought through a broker licensed by the Securities Market Superintendency (SMV); held five years
Fixed deposit (state bank)
MinimumUSD 500,000
Requirements and notes
Placed directly and solely with Banco Nacional de Panamá or Caja de Ahorros; no pledge for five years
Fixed deposit (private bank)
MinimumUSD 750,000
Requirements and notes
Any licensed private bank; no pledge for five years
What counts
- Property counts at the lower of the price actually paid and the documented market value, minus any mortgage or other charge. MICI may ask for an independent valuation, issued within the previous six months by a valuer recognised by Banco Nacional or Caja de Ahorros, at the applicant's cost.
- Only amounts actually paid to the seller, developer or trustee count; unpaid balances do not.
- You may borrow for the part above the minimum, but the net figure after any mortgage must not fall below it.
- Eligible securities include SMV-registered private equity and venture capital funds, Panamanian government bonds and treasury instruments, and other registered securities, including REITs of companies with an economic impact in Panama.
- The investment may be held personally or through a company or private interest foundation, with documents showing who owns and controls the entity.
- Off-plan purchases must be paid into a trust with a Panama-licensed bank or trust company, or paid in full to the developer backed by an irrevocable standby letter of credit, bank guarantee or performance bond from a Panama-licensed bank, renewed yearly and covering the whole investment.
What does not count and restrictions
- Gifts and other gratuitous transfers from third parties do not count towards the minimum.
- Subdivision, improvement declarations, trusts, mergers or reorganisations cannot turn a resale property into a first sale, and the authorities may disregard sham transactions.
- Where there are objective signs that the price exceeds market value, the excess is not counted.
- With joint purchases, each main applicant must meet the minimum alone: two people co-buying one USD 300,000 flat cannot both be main applicants.
- Holders of economic-solvency permanent residence may switch into this category within 12 months of the decree taking effect, but investments made before 15 October 2020 do not count.
- An off-plan promise of sale may run for no more than three years; if the property is not registered by then, residence is cancelled. If the developer fails, you have 180 working days to switch to another qualifying investment, and a second promise of sale may be used only once.
Holding and maintenance
- Every route must be kept for at least five years. Each year until then, proof that the investment is still held must be filed through a Panamanian lawyer within the 30 days before the anniversary of the migration decision (for off-plan, the trustee's payment certificate or a renewed bank guarantee).
- If you sell or redeem early, you must notify MICI within 30 calendar days and document an equivalent reinvestment within 90 calendar days, or the Migration Service will cancel your residence.
- A fall in the market value of securities is not in itself a breach, provided nothing is withdrawn, sold or pledged and you top up within 90 days of being notified.
- Fixed deposits may not be pledged or charged in any way for five years.
- When you apply for naturalisation, MICI must certify that the investment was maintained throughout.
Family, timelines and transition
- A spouse and dependants in the same application can share one investment; a spouse married, or a child born or adopted, after approval can be added on the same terms.
- The main applicant also pays USD 5,000 to the National Treasury and a USD 5,000 repatriation deposit; each dependant pays USD 1,000 and USD 1,000.
- The investment certificate is valid for three months. MICI must issue it within 15 working days of admitting the file, and the Migration Service must decide within 30 working days of receiving a complete file.
- Investments completed before the decree took effect can use the old regime if the application is filed within six months; applications already filed are decided under the rules in force when they were filed.
Based on Panama's Executive Decree No. 17 of 2026 as at November 2026; the rules applied by MICI and the National Migration Service prevail and may change.
Our three guarantees
Full service-fee refund if refused
Guaranteed in your service agreement: if your application is refused, we refund the service fees you have paid in full — or you can switch to another suitable programme at no extra charge.
No extra charge for further documents or resubmission
If the authorities request further documents, or an application must be resubmitted, we handle it at no additional service fee.
Handled by professionals, fee fixed at signing
Every application is prepared and reviewed by our professional immigration team. Your service fee is fixed when you sign, with no additional charges afterwards.
Service fees exclude investment amounts, government fees and third-party costs. Refusals caused by false or incomplete information, or by the applicant not cooperating as required, are not eligible for a refund. Full terms are set out in the service agreement.
Investment routes compared
| Route | Minimum investment | Holding period |
|---|---|---|
| New-build property | USD 300,000 | Five years |
| Resale property | USD 500,000 | Five years |
| Securities | USD 500,000 | Five years |
| Fixed deposit | USD 500,000 at a state bank; USD 750,000 at a private bank | Five years |
Subject to Panama’s National Migration Service and Executive Decree No. 17 of 2026.
Free Panama Permanent Residency brochure
Covers the requirements, process and timeline, a fee overview and FAQs. Leave your details and we’ll send it to you.
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Application process
- Assessment and choice of investment2–4 weeksWe compare the routes and prepare the source-of-funds documents.
- Investment1–2 monthsBuy the property or complete the securities or deposit investment.
- Application15 + 30 working days by lawCoordinated by our team and, as Panama requires, filed through a local lawyer.
- Permanent residenceAfter approvalVisit Panama for biometrics and collect your residence card.
Pathway to PR and citizenship
- Permanent residenceAbout 15 + 30 working days by law
Panamanian permanent residence for you and your family directly.
Keeping permanent statusNo need to relocate, but visit Panama at least once every two years; keep the qualifying investment
- Panamanian citizenshipAfter 5 years of residence with PR
Apply for Panamanian nationality and a passport, passing tests in Spanish and Panamanian history, geography and political organisation, with good character. Panama’s Constitution requires naturalised citizens to make an express declaration renouncing their current nationality, and Panama generally does not recognise their dual nationality; whether you actually lose your current nationality depends on that country’s own law.
Residence for citizenship5 years of continuous residence in Panama with PR (only permanent residence years count)
General information only; requirements follow each country’s latest rules and can vary with your circumstances.
Panama Permanent Residency client stories
Client storyPanamanian permanent residency through a USD 300,000 new-build
Ms Wan’s Panama Permanent Residency experience. She wanted a permanent residency in the Americas as a back-up.
Read the full storyClient storyDirect permanent residency, with a visit every two yearsMr Kan’s Panama Permanent Residency experience. He wanted permanent residency in the Americas for the family.
Read the full storyClient storyUnderstanding territorial tax, and Panamanian permanent residencyMr Tse’s Panama Permanent Residency experience. He wanted Panamanian residency and to understand the tax position.
Read the full storyCompared with other options: Europe & Latin America Residency
See the Europe & Latin America Residency overview| Programme | Investment | Status | Typical timeline | Best for |
|---|---|---|---|---|
| Portugal Golden Visa (Fund Investment) | EUR 500,000 (qualifying fund) | Residence; permanent residence after five years | Usually about 1.5–3 years | EU residence without relocating |
| Greece Golden Visa | From EUR 250,000 (by area) | Five-year residence, renewable; PR after 5 years living there | Depends on processing | Schengen residence through property |
| Cyprus Permanent Residency | EUR 300,000 (new-build home) | Permanent residence | Usually about 2–6 months | Permanent residence in an EU country directly |
| Malta Permanent Residence Programme (MPRP) | Buy from EUR 375,000 or rent, plus government fees of EUR 99,000 | Permanent residence | Depends on due diligence | Three generations wanting EU permanent residence |
| Panama Qualified Investor Permanent ResidencyThis programme | New-build property from USD 300,000 | Permanent residence | Statutory processing about 15 + 30 working days | Permanent residence in the Americas through US-dollar assets |
| Paraguay Investor Permanent Residency | From USD 70,000 (real estate USD 200,000) | Permanent residence | Generally about 3–4 months | A lower-cost permanent residence in South America |
Panama Permanent Residency FAQ
What changed under the new rules?
The rules in force from September 2026 distinguish new-build from resale property: new-build still qualifies at USD 300,000, while resale requires USD 500,000, with tighter checks on the source of funds and investment structures.
Do I need to live in Panama?
No need to relocate; you generally need to visit Panama at least once every two years to keep your status.
Can I apply for citizenship?
After five years as a permanent resident, meeting residence and other conditions, you can apply for citizenship, subject to Panama’s latest rules.
Is my foreign income taxed in Panama?
Panama taxes on a territorial basis, only taxing income generated in Panama. We recommend separate advice on your personal tax position.
Sources
- National Migration Service of Panama (Servicio Nacional de Migración)
- Panama Official Gazette No. 30613: Executive Decree No. 17 of 2026 (16 September 2026)
- Sebastian Sauerborn: article-by-article summary of Decree 17 (commentary, used to fill gaps)
- Erickson Immigration Group: Panama Updates Qualified Investor Residence Program (25 September 2026)
- Revista E&N: Panama widens the Qualified Investor programme (24 September 2026)
- Perspektive Ausland: Panama Inversionista Calificado Decree 17/2026 (commentary, used for cross-checking)
- Immigrant Invest: Panama golden visa changes (industry source, used for cross-checking)
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