Global Mobility / Residency by Investment / Panama

Residency by Investment · Latin America

Panama

Permanent residence from the outset rather than after a provisional period, in a dollarized, territorially taxed jurisdiction. Processing is among the shortest of any program we advise on.

Last reviewed September 1, 2026

Advisory note · Current as of September 2026

The October 2026 deadline you may have read about is not in the law.

Panama’s Qualified Investor Visa was established by Executive Decree 722 in 2020. The US$300,000 real estate threshold began as a temporary window under that decree, later extended to October 2024. Executive Decree 193 of October 2024 then removed the window entirely, making US$300,000 the standing minimum for property.

A great deal of material still in circulation states that the threshold ends on October 15, 2026 and reverts to US$500,000. That date does not appear in the governing decree. It is an earlier deadline, carried forward two years and repeated widely.

That does not make the figure permanent. Panamanian law requires minimum investment amounts to be reviewed periodically, and the program’s recent changes took effect on the day they were signed. A change could arrive with little notice. None has been published, however, and we would not advise anyone to hurry a substantial property acquisition against a date the law does not contain.

We would rather tell you plainly what the decree says than repeat what is being said about it. Where a change is announced, we will tell you how it affects your position.

The country

About Panama

Panama occupies the isthmus between North and South America, and its economy has been shaped by that geography for more than a century. The Canal remains central, but banking, logistics and professional services now account for a substantial share of activity.

The country uses the United States dollar as legal tender alongside the balboa, which is pegged one-to-one. For an investor accustomed to a dollar-pegged environment in the Gulf, this removes a currency consideration that applies to most European alternatives.

Panama operates a territorial tax system, under which income earned outside the country is generally not subject to Panamanian taxation. This is frequently cited as the program’s principal attraction. Whether it changes your position depends entirely on your own residence and existing obligations, and that is a question for your tax advisor rather than for us.

Spanish is the official language. Panama City is a substantial financial center with an established international banking sector, and the country has a long history of accommodating foreign residents and businesses.

Capital

Panama City

Population

Approximately 4.5 million

Language

Spanish (official); English widely used in business

Currency

Balboa, pegged 1:1 to the US dollar; the dollar is legal tender

Taxation

Territorial — foreign-source income generally not taxed locally

Legal basis

Executive Decree 722 (2020), amended by Decree 193 (2024)

Time zone

GMT−5

From Dubai

No direct service; typically routed via Europe or North America

At a glance

The program in outline

Minimum investment

US$300,000

Real estate route; US$300,000 is the standing minimum under Executive Decree 193 (2024)

Status conferred

Permanent residence

Granted from the outset, with no provisional or temporary phase

Indicative processing

1–3 months

Among the fastest of any program we advise on

Holding period

5 years

The qualifying investment must be maintained throughout

Physical presence

Minimal

No minimum annual stay; a visit at least once every two years is expected to maintain status

Family inclusion

Spouse, children, parents

Including dependent children over 18 in defined circumstances

Path to citizenship

5 years

Eligibility to apply by naturalization after five years of permanent residence

Requirements

Minimal

No language, education or business experience test. Funds must originate from abroad

Investment routes

Three qualifying pathways

Each must be held for a minimum of five years. In practice the real estate route accounts for the substantial majority of applications, and it carries the lowest entry point of the three.

US$300,000

Real estate

Titled Panamanian real estate

Acquisition of residential or commercial property in Panama. The property must be titled and registered at the Public Registry, and the title must be free of liens and encumbrances.

Your own equity must meet the threshold; a mortgage may cover any surplus above it
Rights-of-possession land does not qualify, only titled property
May be held personally or through an entity where you are the ultimate beneficial owner
Property purchased before completion carries additional requirements until title is registered

US$500,000

Securities

Panamanian-listed securities

Investment in securities listed in Panama, made through a licensed local broker. A route more often used by applicants who do not want to hold property.

Must be executed through a licensed Panamanian brokerage
Held for a minimum of five years
Choice of securities is an investment decision requiring independent advice

US$750,000

Bank deposit

Fixed-term bank deposit

A time deposit placed with a qualified Panamanian bank, free of liens, for a minimum of five years. The highest entry point and the simplest structurally.

Deposit must be free of liens for the full term
No asset to select, manage, maintain or eventually sell
Capital is held on deposit rather than invested in an asset

We do not publish lists of qualifying developments. Availability changes, projects complete, and a property that suits one client may be wrong for another. Where a route is appropriate, we review currently available qualifying options with you at the assessment stage, and any commercial terms are set out by the developer or institution directly, on their own documentation.

What it confers

What the status gives you, and what it does not

Panama grants permanent residence immediately, which is unusual and is the program’s defining structural feature. It is still residence, not citizenship: it does not give you a passport, and it does not change your existing travel position.

What it gives you

Permanent residence from the outset, with no temporary or provisional period to serve first.
The right to live, work and study in Panama without a time limit on the status.
Residence extending to your spouse, dependent children and dependent parents on a single qualifying investment.
Access to Panama’s banking, business and property ownership framework as a resident.
Eligibility to apply for citizenship by naturalization after five years of permanent residence.

What it does not give you

A Panamanian passport. Citizenship is a separate application after five years and is not automatic.
Visa-free access on the strength of the residence permit; travel remains on your existing passport.
Any change to your tax position by itself. Territorial taxation applies to Panamanian tax residents, which is a separate test.
Status independent of the investment; the qualifying asset must be held for five years.
Freedom from all presence requirements. A visit to Panama at least once every two years is expected to maintain status.

Family

Who can be included

A single qualifying investment covers the family unit. Dependents are added to the same application rather than requiring separate qualifying investments.

Family member

Condition

Spouse

Spouse of the principal applicant.

Children

Dependent children, including those over 18 where they remain financially dependent or are in full-time study.

Parents

Parents who are financially dependent on the principal applicant.

Dependents who require ongoing care

Dependents of any age who require ongoing care and are supported by the principal applicant.

Age limits for dependent children are stated inconsistently across published sources. We confirm the current position against the applicable decree for your circumstances before anything is filed.

The principal applicant must be over 18, hold a clean criminal record, and demonstrate that the invested funds originate from outside Panama. A health certificate issued by a Panamanian physician forms part of the submission. There is no language test, education requirement or business experience requirement.

Suitability

Who this program serves — and who it does not

We would rather tell you at the outset that a program is a poor fit than take a file we do not believe in.

Well suited to

Principals who want a settled residence position established quickly, with permanent status from the outset rather than after a waiting period.
Those who prefer a dollar-denominated jurisdiction, removing a currency variable that applies to European alternatives.
Applicants who want a base in the Americas without the presence obligations that most comparable programs carry.
Families seeking to include dependent adult children or dependent parents on a single investment.
Those comfortable committing capital to Panama for a five-year term.

Less well suited to

Applicants seeking European access, since Panama confers no Schengen or EU rights of any kind.
Those treating residence as a tax solution in itself, since tax residence is a separate test and requires independent advice.
Anyone unwilling to hold the qualifying investment for the full five years.
Applicants who cannot travel at all, since biometrics and certain steps require attendance in Panama.
Those who need certainty that today’s thresholds will hold, since Panama reviews investment minimums periodically and recent changes took effect without notice.

Process

How an application proceeds

Our role is to establish whether Panama answers what you are solving for, to coordinate the legal and investment steps in the right order, and to remain accountable to you throughout.

Assessment

A confidential review of your objectives, family composition, timing and source of funds. On this program the first question is usually whether a base in the Americas answers your objective, or whether European access is what you actually need.
GLI Advisory conducts this review directly.

Route selection

Determining which of the three qualifying routes fits your position, your liquidity and your appetite for holding an asset in Panama for five years.
We set out the options and the trade-offs.

Investment selection and legal review

Where property is the route, title verification at the Public Registry is not a formality. Unresolved title and rights-of-possession land are the most common causes of failure. Commercial terms are set out by the developer or institution on their own documentation, and we would expect you to take independent legal and financial advice on them.
We coordinate; we do not advise on investment merit.

Acquisition and documentation

Completion of the qualifying investment, together with police clearances, the health certificate from a Panamanian physician, and evidence that funds originated outside Panama.
We manage collection, review and sequencing.

Filing and attendance

Submission through Panamanian counsel, followed by attendance in Panama for biometrics and the required appointments. Much of the preparatory work is completed remotely.
We coordinate scheduling and attendance.

Permanent residence and beyond

Permanent residence is granted. We remain available through the five-year holding period and, where relevant, at the point naturalization becomes available.
We stay engaged beyond issuance.

Considerations

What we would want you to weigh

The property has to stand on its own

The qualifying investment is a property you will hold for at least five years. It should be one you would be comfortable owning on its merits, at a value that reflects the market rather than the residence it confers. Pressure to commit quickly, whether from a stated deadline or a limited allocation, is worth questioning before it is acted on.

Territorial tax is not automatic

Panama does not generally tax foreign-source income, but that treatment attaches to Panamanian tax residence, which is a separate question from holding a residence permit. Whether anything changes for you depends on your existing residence and obligations. We do not give tax advice and would want you to take it independently.

Presence still matters

There is no minimum annual stay, which is often reported as “no requirement at all.” The expectation is a visit to Panama at least once every two years, and prolonged absence beyond that can put permanent residence at risk. Treat that visit as part of maintaining the status rather than as optional.

Questions

Panama residency by investment: common questions

How much do you need to invest for Panama residency?

Three routes qualify: US$300,000 in titled Panamanian real estate, US$500,000 in Panamanian-listed securities, or a US$750,000 fixed-term deposit with a qualified Panamanian bank. Each must be held for five years. These are the qualifying figures only, and government fees and legal costs sit above them.

Is the US$300,000 Panama threshold really ending?

Not under the current decree. Executive Decree 193 of October 2024 set US$300,000 as the standing minimum for real estate and attached no end date to it. The widely reported October 15, 2026 deadline refers to an earlier temporary window that the 2024 decree removed. Panama does review investment minimums periodically, and a new decree could change the figure with little notice, but none has been published.

How long does the Panama Qualified Investor Visa take?

Typically one to three months from filing, which makes it among the fastest residency routes available. Property acquisition, title verification and documentation sit before that, so the full timeline from first engagement is longer and depends substantially on how quickly a suitable qualifying investment is identified.

Do I have to live in Panama?

No. There is no minimum annual stay, and no physical presence is required during the application itself. Attendance in Panama is needed for biometrics and certain appointments, and a visit at least once every two years is expected to maintain permanent residence.

Does Panama residency lead to citizenship?

It can. Eligibility to apply for citizenship by naturalization arises after five years of permanent residence. Eligibility to apply is not the same as an entitlement to receive, and naturalization carries its own requirements and discretion. Many holders of this status treat the residence as the objective rather than as a step toward a passport.

Which family members can be included?

A spouse, dependent children, including those over 18 who remain financially dependent or are in full-time study, financially dependent parents, and dependents of any age who require ongoing care and are supported by the principal applicant. A single qualifying investment covers the family unit. We confirm the age limits for dependent children against your circumstances before anything is filed.

Does Panama residency reduce my tax?

Not by itself. Panama operates a territorial tax system under which foreign-source income is generally not taxed locally, but that treatment attaches to Panamanian tax residence rather than to holding a residence permit. Whether your position changes depends on your existing residence and obligations, and requires independent tax advice.

Can UAE and GCC residents apply?

Yes. The program is open to applicants regardless of current residence, subject to eligibility and to funds originating outside Panama. There is no direct air service from the Gulf, so attendance for biometrics involves a connecting itinerary. The same applies to the visit expected at least once every two years to maintain status.

A conversation
before a commitment.

We begin every engagement with a confidential assessment: your objectives, which of the three qualifying routes suits your position, and whether Panama or another jurisdiction better answers what you are solving for. It is held in confidence, and there is no obligation to proceed.

Figures and requirements reflect information current as of September 2026 and are subject to change by the Republic of Panama without notice. Nothing on this page constitutes legal, tax or investment advice, an offer of residency, or a recommendation of any investment. GLI Advisory does not provide investment advice and makes no representation as to the performance, return or liquidity of any qualifying investment. Eligibility is determined solely by the competent Panamanian authorities.
GLI International Advisory FZCO · Unit No: 3501–D07, Swiss Tower, JLT, Dubai, UAE