By means of Executive Decree No. 722 of October 15, 2021 the government of the Republic of Panama created the new residency program called “Qualified Investor”.
With this new program the current administration has the intention in promoting local investment in Panama by granting a convenient permanent resident status to any applicant and dependents.
Besides the traditional requirements for any residency program, the main requirement to comply will be to perform the investment in accordance to amounts and standards created, as follow:
Real Estate - The purchase of a real estate for US$ 500K, nevertheless until October 15, 2022 the investment can be only for US$ 300K. The purchase of this asset must have no lien or loans. The property can be purchase in a personal name or using a corporation/foundation.
Securities - Investing censed securities office for US$ 500K through a licensed securities office for a period of no less than 5 years.
Bank - Setting up a time deposit in any licensed bank in Panama for US$ 750K for 5 years. The deposit must be free of any financial commitment or lien.
Highlights of the program.
The application can be submitted without the applicant presence, however, once is approved, the applicant and dependents must travel to Panama to finalize the process.
The immigration office jointly with the Ministry of Commerce has created a special VIP office for processing the applications.
The residency application in this program will be approved in 30 days as of its presentation.
The investment in real estate; securities investment or time deposit must be maintained for 5 years, otherwise the permanent resident status can be cancelled. Each process of investment will have parallel requirements and processing which will assist and quote separately. The immigration will demand evidence every year to verify that investment is in place.
All funds for the investment are required to come from abroad.
After 5 years of being permanent resident, applicant and dependents are entitled to apply for Panamanian citizenship.
Our team will be more than happy to assist you in the procurement of your residency; the process of purchasing a real estate; Setting up time deposits or organizing a portfolio of investment.
The BusinessPanama Group provides a convenient One Stop Shop offering you the following services:
Real estate brokerage to find a home or apartment
Incorporation of companies, LLCs, trusts and foundations
Banking & trading accounts
Wealth management services
Applying for visas, work and residence permits for expats
For more information, please contact us.
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