INVESTMENT IMMIGRATION · PANAMA
Panama Qualified Investor Visa
Permanent residency solutions in Panama for investors, entrepreneurs, and international families seeking a fast-track immigration program through qualifying investments.
What Is the Panama Qualified Investor Visa?
The Panama Qualified Investor Visa is a permanent residency category established through Executive Decree 722 of October 15, 2020. Designed to attract qualified foreign investors, this program provides a direct, legally structured pathway to permanent residency in Panama through qualifying investments in real estate, securities, or bank deposits.
Unlike temporary residency categories that require annual renewals, successful applicants under this program receive immediate permanent residency status — offering long-term legal certainty for investors and their families. Processing typically takes between 30 and 45 business days from the date of filing.
Legal basis: Executive Decree 722 of October 15, 2020, and applicable Panamanian immigration regulations governing investment-based residency.
Key Benefits of the Program
The Qualified Investor Visa provides foreign nationals with a legally defined, transparent pathway to establish permanent residency in Panama, access the country’s financial infrastructure, and pursue long-term life and business goals in one of Latin America’s most open economies.
IMMEDIATE PERMANENT RESIDENCY
Approved applicants receive permanent residency status from the date of approval — no temporary permit stage or renewal obligations.
ACCESS TO E-CÉDULA
Qualified investors become eligible to apply for the Panamanian E-Cédula, the national electronic identification document.
DEPENDENTS INCLUDED
The qualifying applicant may include a spouse and eligible dependents within the same residency application.
CITIZENSHIP ELIGIBILITY
After five years of lawful permanent residency, investors may become eligible to apply for Panamanian citizenship under applicable naturalization laws.
TERRITORIAL TAX SYSTEM
Panama taxes only income generated within its territory. Foreign-source income is generally not subject to Panamanian income tax.
INTERNATIONAL BANKING ACCESS
Panama’s robust banking sector supports foreign investors with USD-denominated accounts and international financial services.
STRATEGIC GLOBAL LOCATION
Panama serves as a premier hub for international business, logistics, and finance between North and South America.
FLEXIBLE RESIDENCY MAINTENANCE
The program does not impose strict physical presence requirements, offering flexibility for investors with international business commitments.
ASSET DIVERSIFICATION
Qualifying investments in Panamanian real estate, securities, or banking instruments support a broader international asset diversification strategy.
Investment Options
The program permits qualification through four recognized investment categories. All investments must be financed from abroad, maintained free of liens or encumbrances, and held for a minimum of five years. Co-ownership is generally permitted only between spouses or qualifying dependents within the same application.
REAL ESTATE
USD $300,000
Minimum investment in Panamanian real property, held for a minimum of five years. Property must be free of liens and encumbrances.
PRE-SALE REAL ESTATE
USD $300,000
Investment through a purchase agreement or trust structure for pre-construction real estate, maintained for the required holding period.
SECURITIES / STOCK MARKET
USD $500,000
Investment in securities through a licensed Panamanian brokerage firm, maintained for a minimum of five years.
FIXED-TERM DEPOSIT
USD $750,000
Fixed-term deposit in a licensed Panamanian bank, held for a minimum of five years, funded from foreign sources.
Real Estate Investment Option
The most commonly used qualifying category under this program involves the acquisition of real property in Panama with a minimum value of USD $300,000. The investment must be free of any mortgages, liens, or encumbrances, and must be maintained for a minimum of five years from the date of residency approval.
Investment funds must originate from abroad and be transferred into Panama through the banking system. The property may consist of one or more parcels, provided the aggregate value meets or exceeds the qualifying threshold. Co-ownership is permitted exclusively between the main applicant, their spouse, and qualifying dependents.
Panama’s real estate market offers a range of premium options — from ocean-view residences and urban towers to commercial properties in strategic locations — making this category attractive for investors seeking both immigration benefits and asset appreciation.
Pre-Sale Real Estate Option
Panama’s immigration framework extends eligibility to investments made in pre-construction real estate, allowing applicants to qualify using a fully executed purchase agreement or a trust structure, provided the committed investment equals or exceeds USD $300,000.
This option is particularly relevant in Panama’s active real estate development sector, where pre-sale contracts for residential towers, mixed-use projects, and branded residences are a common acquisition mechanism. The investment must be evidenced by a legally binding agreement and adequate documentation demonstrating the commitment and source of funds.
Legal counsel is advisable to ensure the documentation meets the standards required by the National Immigration Service.
Securities / Stock Market Investment Option
Applicants who prefer a financial rather than real property approach may qualify through an investment of at least USD $500,000 in securities transacted through a Panamanian securities brokerage firm duly licensed and regulated under Panamanian law.
The investment must be maintained for a minimum of five years. Eligible instruments may include equities, bonds, and other regulated securities products available through the Panamanian securities market. The investment must be funded from abroad and free from encumbrances at the time of application.
This category is well-suited for investors with existing capital market exposure who wish to integrate a Panamanian investment component into their broader portfolio strategy.
Fixed-Term Bank Deposit Option
The fixed-term deposit category provides a straightforward, low-risk investment pathway requiring a minimum deposit of USD $750,000 placed in a licensed Panamanian bank. The deposit must be maintained for a minimum of five years and must be funded from external sources.
Panama’s banking sector is internationally recognized for its stability and confidentiality. The country is home to numerous international and regional banks, providing investors with a wide selection of licensed institutions for compliance with this requirement.
The deposit must remain free of liens or pledges throughout the qualifying period. An official certification from the bank confirming the deposit terms, balance, and origin of funds is required as part of the immigration application package.
Application Process
The following steps outline the standard process for a Qualified Investor Visa application. Estimated total processing time: 30–45 business days from the date of complete filing before the National Immigration Service.
01
Initial Consultation
Assessment of eligibility, selection of the most appropriate investment category, and review of the investor’s documentation profile.
02
Investment Structuring
Legal and financial structuring of the qualifying investment — including property acquisition, securities account opening, or bank deposit — with guidance from our legal team.
03
Document Collection
Compilation of all required personal, financial, and investment-related documentation. Documents originating abroad must be apostilled and authenticated in accordance with Panamanian requirements.
04
Filing Before Immigration
Submission of the complete application package to the National Immigration Service of Panama, including all required forms, fees, and supporting documentation.
05
Permanent Residency Approval
Upon review and approval, the applicant receives a permanent residency resolution from the National Immigration Service.
06
E-Cédula Application (Optional)
Following residency approval, eligible applicants may apply for the Panamanian national identification card (E-Cédula) through the Civil Registry.
07
Ongoing Compliance
Maintenance of the qualifying investment for the required five-year holding period, with periodic compliance monitoring and legal support as needed.
Required Documents
The following documents are generally required for a Qualified Investor Visa application. Documentation originating outside Panama must typically be apostilled and, where applicable, officially translated. Requirements may be subject to modification by the National Immigration Service.
PERSONAL DOCUMENTS
- Authenticated copy of valid passport (apostilled)
- Criminal background check (apostilled)
- Medical / health certificate
- Two recent passport-style photographs
- Affidavit of personal background declaration
FINANCIAL & INVESTMENT DOCUMENTS
- Source of funds documentation
- Bank certification confirming funds origin
- Investment documentation (deed, purchase agreement, brokerage statement, or bank deposit certificate)
- Property valuation or bank/brokerage confirmation
- Lien-free certification for real property
GOVERNMENT FEES & DEPOSITS
- National Treasury receipts (applicable government fees)
- Immigration repatriation deposit (per applicant)
- Additional fees for dependent applications where applicable
Document requirements are subject to change. The information above is provided for general reference only and does not constitute legal advice. Please consult with a licensed immigration attorney for current requirements applicable to your specific situation.
Including Dependents in Your Application
The Qualified Investor Visa permits the main applicant to include qualifying family members as dependents within the same residency application. Each dependent application is subject to additional government fees and requires supplementary documentation establishing the relationship.
SPOUSE
A legally married spouse may be included as a dependent, subject to submission of an authenticated marriage certificate.
MINOR CHILDREN
Children under the age of 18 may be included upon submission of authenticated birth certificates and relevant custody documentation where applicable.
FULL-TIME STUDENTS
Unmarried children up to age 25 who are enrolled full-time in accredited educational institutions may qualify for inclusion, subject to evidence of enrollment and economic dependency.
Special Travel Document for Qualified Investors
Under Panamanian law, qualified investors who hold permanent residency may apply for a special travel document issued by the National Immigration Service. This document serves as an official immigration identification instrument recognized within the context of the investor’s Panamanian residency status.
Important: This document is not a passport and does not confer Panamanian citizenship. It does not replace or supersede the holder’s original national passport or citizenship. Eligibility, use, and limitations are governed by Panamanian immigration regulations in effect at the time of application. Prospective applicants should obtain specific legal advice regarding current rules applicable to this document.
Panama's Territorial Tax System
Panama operates under a territorial tax regime, which is a foundational element of its appeal as an international business and residency hub. Under this system, income generated from sources outside Panamanian territory is generally not subject to Panamanian income tax.
TERRITORIAL TAXATION
Income, dividends, and capital gains derived from sources outside Panama are generally not subject to Panamanian income tax.
U.S. DOLLAR ECONOMY
Panama uses the U.S. dollar as its official currency, eliminating exchange rate risk and simplifying international financial transactions.
NO EXCHANGE CONTROLS
There are no capital controls in Panama. Funds may be transferred freely in and out of the country in accordance with applicable banking regulations.
STRONG BANKING SECTOR
Panama hosts one of Latin America’s most robust international banking centers, with numerous licensed financial institutions offering services to foreign residents and investors.
INTERNATIONAL BUSINESS ENVIRONMENT
Panama’s infrastructure, logistics capacity, and financial services sector make it a premier regional hub for international holding, commerce, and investment operations.
LEGAL STABILITY
Panama’s constitution and legal framework provide strong protections for private property and foreign investment, supported by an established judiciary and rule of law.
Tax Disclaimer: The information provided here is for general informational purposes only and does not constitute tax advice. Tax obligations vary based on individual circumstances, nationality, country of residence, and applicable tax treaties. Prospective investors are strongly encouraged to consult qualified tax advisors in their home jurisdiction and in Panama prior to making any investment or residency decisions.
Why Panama for Investment Immigration?
Panama occupies a unique position in the global investment and residency landscape — offering a combination of geographic, economic, and legal advantages that few jurisdictions can match. Investors who establish residency here gain access to a stable, internationally integrated environment while maintaining flexibility in their global affairs.
STRATEGIC LOCATION
Panama connects North and South America and serves as a global logistics and financial hub, home to one of the world’s busiest canal routes.
POLITICAL STABILITY
Panama maintains a stable democratic government and has a long track record of protecting foreign investment under constitutional law.
OPEN ECONOMY
A dollarized, open economy with strong trade relationships and one of the region’s highest GDP per capita levels provides a solid foundation for investment.
WORLD-CLASS INFRASTRUCTURE
Panama City offers international-grade urban infrastructure, including healthcare facilities, private schools, logistics centers, and premium real estate.
INTERNATIONAL COMMUNITY
Panama hosts a large international expat and investor community, with English widely spoken in business contexts and a cosmopolitan urban environment.
GATEWAY TO LATIN AMERICA
Tocumen International Airport connects Panama to over 80 destinations globally, making it one of the region’s premier aviation hubs.
Why Work With Díaz & Asociados
Díaz & Asociados is a Panamanian law firm specializing in immigration, corporate, and real estate legal services for international investors, entrepreneurs, and families. Our practice combines deep local knowledge with an international perspective developed over years of advising clients from across the globe.
IMMIGRATION & CORPORATE EXPERTISE
Comprehensive legal services covering immigration, corporate structuring, and real estate transactions — all under one roof.
BILINGUAL PROFESSIONAL SERVICE
Our team provides full legal guidance in both English and Spanish, ensuring clear communication with international clients.
REAL ESTATE INTEGRATION
We assist with both the immigration application and the underlying real estate or investment transaction, streamlining your legal process.
INTERNATIONAL CLIENT FOCUS
Our practice is built around the needs of foreign investors and expats navigating Panamanian legal and immigration systems.
BANKING COORDINATION GUIDANCE
We assist in coordinating with Panama’s banking sector for account opening, deposit structuring, and source of funds documentation.
CORPORATE STRUCTURING
We advise on optimal corporate structures for holding Panamanian investments, including Panamanian corporations (S.A.) and private interest foundations.
PERSONALIZED LEGAL GUIDANCE
Each client receives individualized attention with direct access to our attorneys throughout the application process.
PANAMA RELOCATION SUPPORT
Beyond immigration, we assist clients with aspects of their transition to Panama, including corporate setup, banking, and real estate guidance.
FAST, TRANSPARENT COMMUNICATION
We prioritize responsive communication and provide regular updates on the status of your application and investment process.
Frequently Asked Questions
The following questions address the most common inquiries we receive regarding the Panama Qualified Investor Visa program.
How long does the Qualified Investor Visa application process take?
The estimated processing time is 30 to 45 business days from the date of complete filing before the National Immigration Service of Panama. This timeline is an estimate and may vary based on workload, documentation completeness, and other factors.
Can I include my family members in the application?
Yes. The main applicant may include a spouse and qualifying dependents — including minor children and full-time students up to age 25 — within the same application. Each dependent is subject to additional government fees and documentation requirements.
Can I work legally in Panama with this residency?
Permanent residency does not automatically grant a work permit. Foreign nationals wishing to engage in employment activities in Panama must obtain the relevant work authorization. Our team can advise on the applicable requirements for your specific situation.
Do I need to live in Panama full-time to maintain this residency?
The Qualified Investor Visa does not impose strict full-time physical presence requirements. However, applicants should seek legal advice regarding any requirements that may affect long-term residency maintenance and eventual naturalization eligibility.
Can I finance the qualifying real estate purchase?
The qualifying investment must be free of mortgages, liens, or encumbrances at the time of application. Financing structures that result in encumbered property would generally not satisfy the program requirements. Please consult with us for guidance on permissible acquisition structures.
What happens after the required five-year investment holding period?
After five years of maintaining the qualifying investment and holding permanent residency, the investor may be eligible to apply for Panamanian citizenship through naturalization, subject to applicable legal requirements. After the holding period, the investment may also be restructured or liquidated subject to legal counsel.
What is the E-Cédula and how do I apply for it?
The E-Cédula is the Panamanian national electronic identification card. Following permanent residency approval, eligible investors may apply for the E-Cédula through the Civil Registry. It serves as official government-issued identification within Panama.
Can I apply for this program without being physically present in Panama?
Some stages of the application may be facilitated remotely; however, physical presence is generally required for certain steps, including biometric submissions and identity verification. Our team can advise on current requirements and assist with the preparation process from your home country.
What happens if I need to sell or transfer the qualifying investment before five years?
Disposing of the qualifying investment before the end of the required holding period may affect your residency status. We strongly recommend consulting with legal counsel before making any changes to your qualifying investment during the five-year period.
Does Panama tax my foreign-source income?
Under Panama’s territorial tax system, income generated from sources outside Panama is generally not subject to Panamanian income tax. However, this is a general principle and individual circumstances may vary. This information does not constitute tax advice. Consult a qualified tax advisor for guidance applicable to your specific situation.
Can the qualifying investment be held jointly with another person?
Co-ownership of the qualifying investment is generally permitted only between the main applicant, their spouse, and qualifying dependents within the same application. Co-investment with unrelated third parties is generally not permitted under current program rules.
What are the current government fees for this application?
Government fees include National Treasury payments and an immigration repatriation deposit per applicant, in addition to fees for any dependent applications. For current fee schedules, please contact our office as fees may be updated by the immigration authorities.
Can I apply if I have dual citizenship?
Dual citizenship holders are generally eligible to apply using one of their valid passports. Specific questions regarding the use of multiple nationalities in the application should be addressed with our legal team.
Begin Your Investment Residency Journey in Panama
Our legal team is available to assess your eligibility, explain your investment options, and guide you through every step of the Qualified Investor Visa process. Contact us today for a confidential consultation.
www.diazyasociados.legal | Panama City, Republic of Panama