Qualified Investor Permanent Residence

The Qualified Investor Permanent Residence (Permiso de Residente Permanente en Calidad de Inversionista Calificado) grants immediate permanent residence to foreign nationals who make a qualifying investment from foreign-sourced funds. Established by Executive Decree No. 722 of 2020 and amended by Decrees 109/2022 and 193/2024, the program is administered by the Servicio Nacional de Migración with investment certification from the Ministry of Commerce and Industries (MICI). It is open to applicants of any nationality with no age, education, or professional requirements. Note: the USD 300,000 real estate minimum is a temporary threshold, extended through October 15, 2026, after which it increases to USD 500,000.

Four investment modalities are available, all requiring foreign-sourced funds:

• Direct real estate purchase: Minimum USD 300,000 in property free of liens, evidenced by Public Registry title (temporary threshold valid until October 15, 2026; increases to USD 500,000 thereafter)
• Real estate through promise-of-sale contract: Minimum USD 300,000 through an authenticated purchase-promise contract, with funds held in escrow or paid directly to the developer for unconstructed properties (same temporary threshold applies)
• Securities investment: Minimum USD 500,000 in securities purchased through a licensed brokerage firm via the Panama Stock Exchange, committed for at least 5 years
• Fixed-term bank deposit: Minimum USD 750,000 in a qualified Panamanian bank with a minimum term of 5 years

The investment must be maintained for at least 5 years from approval. If sold or terminated early, the residence permit may be revoked. Co-ownership between spouses and dependants is permitted under the 2024 amendment.

The investment must first be certified by the MICI through the National Investment Promotion Directorate, which verifies that the investment meets minimum thresholds and originates from foreign sources. The full application is then submitted at the Special Processing Window (Ventanilla Unica) of the National Migration Service. Applications may be submitted through an authorized legal representative before the applicant enters Panama.

Required documents include an apostilled passport copy, criminal background check, health certificate, bank certification confirming foreign origin of funds, investment certification from MICI, and proof of the investment. Government fees total USD 10,000 for the main applicant (USD 5,000 to the Migration Service plus USD 5,000 to the National Treasury). Applications are resolved within 30 business days.

Permanent residents may work, start businesses, and engage in any lawful economic activity in Panama. Panama operates a territorial tax system, so only Panama-sourced income is subject to income tax. Foreign-sourced income is exempt. Holders should visit Panama at least once every two years to maintain active residency status.

Law No. 493 of 2025 (published in Gaceta Oficial No. 30397-A, October 29, 2025) authorized the issuance of a special passport to qualified investors and their dependants, further facilitating international travel. Implementing regulations are due by April 29, 2026.

The USD 300,000 real estate threshold is temporary, extended through October 15, 2026 by Decree 193/2024. After that date, the real estate minimum increases to USD 500,000. Securities (USD 500,000) and bank deposit (USD 750,000) thresholds are unchanged.

Holders may apply for Panamanian citizenship through naturalization after 5 years of permanent residence (3 years for nationals of certain Latin American countries and Spain). Naturalization requires basic Spanish proficiency and knowledge of Panamanian history and geography.