The Qualified Investor Visa is a newer method of immigration to Panama designed to attract high-profile citizens who can help build the economy. At Matta & Pitti, our law firm uses its experience in finance and immigration law to guide clients through applying for visas and retiring in Panama. Here is more information about retiring using a Qualified Investor Visa:
About the Qualified Investor Visa
Made into law in October 2020, the Qualified Investor Visa attracts foreign investment into the Republic of Panama by offering residency and immigration perks to high-quality applicants. The chief requirement is an expenditure of US$500,000 in Panamanian markets. Some of the benefits include ease of application and an expedited process, typically taking one month for permanent residency approval. The application can also be filed by an attorney, like those at Matta & Pitta, while the applicant is out of the country.
Investment Types
Qualifying investments can be made in the Panamanian real estate, banking, or securities sectors. Certain requirements apply to all investment applications. Any funds used need to come from a foreign market, which can be documented bya legally binding letter or statement from the applicant’s bank, a Panamanian bank certification proving receipt of funds, or a notarized letter issued by the funds’ recipient. The investment may also need to be maintained for at least five years, which will be verified annually by the relevant Panamanian authorities.
Real Estate Sector
When applying using real estate investments, documents proving the value and ownership of the property can be submitted as certificates from the Public Registry and National Land Management Authority. Certain planned land investments, called “Promise to Purchase” contracts, can also qualify. These require the submission of authenticated copies of Purchase Agreements and Trust Agreements, which show any disbursements the trust will make to honor the upcoming sale. Real estate investments are incentivized by allowing individuals to purchase a property without encumbrances.
Banking Sector
Investments in the banking sector qualify when established as a time deposit with a fixed term. Banking applications require an authenticated copy of the Certificate of Fixed Term Deposit, which shows the investment amount and terms. Certification from the relevant bank that confirms the deposit’s holder, amount, term, lien status, and foreign origin is also necessary. Banking visa applications require a minimum investment of US$750,000.
Securities Sector
Investments in securities through a broker-dealer house qualify at the standard rate of US$500,000. Applications require confirmation issued by the broker-dealer house verifying the investor, amount, securities details, and custodian entities. Certification proving the securities’ registration and the broker-dealer house’s licensure are also required from the Superintendency of the Securities Market.
Learn More About Retiring in Panama
Retiring in Panama can be suitable for individuals seeking a comfortable climate, rich culture, and low cost of living. At Matta & Pitta, we have attorneys and realtors to guide investors through a smooth transition into their new life. We can help individuals prepare their Qualified Investor Visa application and find a property to invest in for their retirement. Contact us today to begin the visa process.