Permanent Residency as a Qualified Investor

The new Executive Decree No. 193 of October 15, 2024, modifies and adds certain provisions to Executive Decree No. 722 of October 15, 2020, which created, under the category of Permanent Residency for Economic Reasons, the subcategory of Permanent Residency as a Qualified Investor.

This new decree establishes a minimum real estate investment amount of US$300,000.00, which must originate from a foreign source.

Among the accepted mechanisms for real estate investment, the decree now includes acquisitions through full payment (100%) made to the developer or promissory seller of a property that has not yet been built or registered with Panama’s Public Registry.

To validate this acquisition method, in addition to the previously established requirements, the following must also be submitted:

• A notarized copy of the promissory purchase agreement

• A performance bond in favor of the investor, issued by the developer or seller

In cases where the investment is made personally or through a legal entity in the name of co-owners or co-holders, the issuance of a certification by the National Directorate for Investment Promotion will be allowed, provided that the co-ownership or co-holdership is between spouses or dependents, and that they are proven to be the beneficial owners of the legal entity making the investment.

Additionally, foreign nationals who currently have pending or previously initiated applications for a Provisional Permanent Residency Permit under the Economic Solvency (Real Estate Investment) category since 2020 may request a change of immigration status to Qualified Investor, provided that they meet the applicable requirements.

For more information on this or any other immigration category, please do not hesitate to contact us.