To encourage and reactivate Panama’s economy, the National Government, through Executive Decree No. 22, dated October 15, 2020, created within the category of Permanent Resident for Economic Reasons, a new visa known as Qualified Investor Visa, for those foreigners who can contribute to the development of investments in the Republic of Panama.
To demonstrate the purpose of establishing residence under this category, the interested party will have the following investment alternatives in Panama:
- To invest in the purchase of a real estate property for a minimum amount of three hundred thousand dollars (US$300,000.00), this amount must come from abroad and the property must be free of encumbrances. Please note that as of October 15, 2022, this minimum investment requirement will be increased to five hundred thousand dollars (US$500,000) for the purchase of a real estate property in the Republic of Panama, free of encumbrances.
- To invest the sum of five hundred thousand dollars (US$500,000.00), through a Securities House with a license approved by the Superintendence of the Securities Market of Panama, and with the commitment of the investment for a period of five (5) years.
- To invest in a Time Deposit in the amount of seven hundred and fifty thousand dollars (US$750,000.00), for a period of five (5) years, in any Bank with a general license, authorized to operate in the national territory.
The investment can be made personally, (in your name, as a natural person), or through a corporation, where you are the holder of 100% of the shares of the corporation, or through a Panamanian Private Interest Foundation if the investor is the ultimate beneficiary of such foundation. The invested funds must come from banks outside the Panamanian territory.
Advantage of this visa:
The process is expeditious, it only takes one (1) month to approve the permanent residency. In addition, it has the advantage that the investor is not required to be present in Panama for the attorney to file the visa application. The application may be submitted through a special power of attorney duly authenticated by Apostille or authenticated by the Panamanian Consulate in the country where the investor granted such power of attorney. Subsequently the visa applicant will have to come to Panama to be issued a permanent residence card with his/her photograph.
Contact one of our immigration lawyers to talk about what the best options are for your family and situation, including the Qualified Investor Visa pathway.