Panama · Residency by investment
Permanent Residency as a Qualified Investor
Marketed as the Panama Golden Visa, though there is no separate programme by that name. Executive Decree 17 of 8 September 2026, in force since 16 September 2026, replaced the 2020 rules: USD 300,000 for first-sale (new) property, USD 500,000 for resale property.
This is the only place in the hemisphere where a family converts USD 300,000 into unconditional permanent residency in about a month, with no presence requirement and no tax on foreign income. Since September 2026 that entry price applies only to new-build property; resale property needs USD 500,000.
Qualifying routes
First-sale (new) property. Must be free of liens and encumbrances, and funds must be wired from abroad. Resale property needs USD 500,000 under Executive Decree 17 of 2026.
Held through a trust or escrow with a Panamanian bank or fiduciary. Since October 2024, a public notary must ratify the promise-to-purchase or trust contract.
The broker must be licensed by Panama's Superintendencia del Mercado de Valores.
5-year term, unencumbered, at a private bank. A deposit at Banco Nacional de Panamá or Caja de Ahorros needs USD 500,000.
The facts
- Minimum investment
- $300k
- Total landed cost
- USD 300k in investment, plus roughly USD 16k in government and legal fees for the main applicant. Each dependant adds USD 2–3k.
- Route type
- Residency by investment
- Timeline
- 1–3 months (30–45 business days to permanent residency once a complete file is filed. This is the fastest route to permanent residency in the Americas.)
- Physical presence
- There is no annual minimum. You just need to enter Panama at least once every two years to keep permanent residency alive. Naturalisation, by contrast, demands real presence.
- Family
- SpouseChildren under 18Dependent children aged 18 to 25 who are in full-time educationDependent parents
- Permanent residency
- Immediate. This is a permanent residency from the moment it is granted.
- Citizenship
- 5 years of permanent residency before you can apply for naturalisation.
- Language test
- Candidates need Spanish at an intermediate-to-high level, plus an examination on Panamanian history, geography, culture and civics. Since 2025 they must also recite the national anthem and the pledge to the flag from memory.
- Dual citizenship
- Not permitted. You would have to renounce.
- Requirements
- Investment funds must originate abroad and be documented into Panama.A clean criminal record, apostilled.A health certificate issued in Panama.The investment must be held unencumbered for a minimum of five years.The application is filed through a Panamanian lawyer.
- Executive Decree 17 of 8 September 2026, in force since 16 September 2026, replaced the 2020 rules and the old October 2026 deadline. USD 300,000 now buys residence only through first-sale (new) property or a promise to purchase; resale property, securities and a deposit at a state bank need USD 500,000, and a private-bank deposit USD 750,000.
- The investment must be held for five years. Selling it, or letting it lapse without reinvesting, cancels the residency retroactively. Verification happens annually.
- Law 493 of 2025 authorises a special passport for qualified investors. This is a travel document, not nationality. It does not confer Panamanian citizenship, does not replace your own passport, and it dies with your residence permit. It is being mis-sold as a second passport. Its implementing regulations were still pending as of mid-2026.
- Panama sat on the EU's Annex I list of non-cooperative tax jurisdictions from February 2020 until 9 October 2026, when it moved to Annex II, the list of jurisdictions with reform commitments still under review. Annex II carries no EU defensive measures, but the reputational tail is long: EU counterparties still apply enhanced due diligence, and some refuse Panamanian structures outright.
- Panamanian naturalisation after five years is legally available. In practice it is discretionary and politically slow. Treat the passport as a possibility, not a plan.
- Panama's constitution does not generally recognise dual nationality. Naturalising requires formally renouncing your prior nationality before Panamanian authorities. Whether your home country actually treats that renunciation as effective is a separate question. Either way, do not assume Panama is a clean add-on citizenship.