On October 15, 2024, Decree 193 was enacted, which amends and adds provisions to Executive Decree No. 722 of 2020. This new regulation introduces important adjustments to the permanent residency program in Panama for foreigners under the Qualified Investor modality.
Executive Decree 722 of 2020 established the guidelines for the permanent residence program of Qualified Investor Visa in Panama. This program allowed foreigners to apply for permanent residence in Panama through investments in three modalities: acquisition of real estate, investments through the Panama Stock Exchange, or time deposits in banking entities with a general license in the country. The regulation determined the minimum amounts required, mandatory documentation, and the procedures to apply for this migratory category.
Changes to Executive Decree 722
Through Executive Decree 193 of October 15, 2024, the Executive introduces specific modifications to the requirements and terms previously established in Executive Decree No. 722 of October 15, 2020, particularly in relation to the conditions to apply for permanent resident status under the category of qualified investor.
The most significant change is the extension of the deadline to apply for the qualified investor program with a reduced amount of real estate investment of USD 300,000. Originally, this amount was temporary and was expected to increase to USD 500,000 after October 2024. The new decree extends the validity of the reduced amount until October 15, 2026, remaining as follows:
- Investment in real estate: USD 300,000 through direct purchase or irrevocable purchase trust through a developer with a project under execution.
- Investment through the Panama Stock Exchange: A minimum of USD 500,000 in securities issued through a stock broker licensed in Panama.
- Time deposit in a general license bank in Panama: A minimum of USD 750,000 with a term of no less than five years.
Executive Decree 193 of 2024 becomes effective as of its promulgation in the Official Digital Gazette, that is, as of October 15, 2024.
Learn more about the Qualified Investor Program in Panama. If you have any doubts, please contact us, our team is ready to answer your questions.
You can also download the new version of the executive decree:
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