Executive Decree No. 17 of 2026, which took effect on September 16, 2026, sets out the parameters that now govern the Qualified Investor residency program in Panama. This new regulation replaced Executive Decree No. 722 of 2020 and its amendments (Decrees 109 of 2022 and 193 of 2024). As a result, the investment routes and amounts were adjusted, along with the processing times the authority must meet.

Investment Options and Amounts Under the New Decree

Executive Decree No. 17 sets out different routes to residency in Panama, each with its own requirements and investment amounts:

1. Real Estate Investment

  • New Home:
    • Minimum amount: US $300,000.
    • Property requirement: Initial acquisition of an unoccupied unit, transferred directly by the developer, builder, or successor in title.
    • Supporting documents: Public Registry certification, construction or occupancy permits, and tax records confirming the property qualifies as new.
  • Used Home (Resale):
    • Minimum amount: US $500,000.
    • Property requirement: For-value transfer of a property previously sold, occupied, leased, or otherwise conveyed.

Common requirements for real estate investment:

  • The computable net value (price paid or the appraised market value, minus liens) must equal or exceed the applicable minimum amount.
  • The investment may proceed under personal name, through a legal entity, or via a private interest foundation, provided the applicant qualifies as the final beneficiary and retains effective control.
  • ANATI cadastral certification applies in all cases. When the value is in question, an independent commercial or third-party appraisal becomes necessary, and the taxable value will rest on whichever of the two figures is lower.

2. Pre-Construction Real Estate Investment (Purchase Promise Agreement)

This route allows for acquiring properties not yet built or registered:

  • Minimum amount: US $300,000.
  • Payment methods:
    • Deposit into an escrow trust managed by a bank or trust company licensed in Panama.
    • Direct payment of 100% to the developer or seller.

Mandatory Bank-Backing Requirement (for direct payment):

  • The contract must carry the backing of an irrevocable, unconditional bank instrument payable on first demand, issued by an institution authorized in Panama (a standby letter of credit, a bank bond, or a performance guarantee).
  • Under Executive Decree No. 17, the investment calls for a bank guarantee instrument covering 100% of the disbursed amount. This guarantee must be renewed annually and stay in force until the property gets registered with the Public Registry, under a maximum cumulative term of three years for this route.

3. Securities Market Investment

  • Minimum amount: US $500,000 through one or several investments supervised by the Securities Market Superintendence (SMV).
  • Holding term: Must remain uninterrupted for a minimum period of 5 years.
  • Valid instruments:
    • Private Equity and Structured Risk Capital Funds regulated by the SMV.
    • Bonds or debt securities issued or guaranteed by the Government of Panama.
    • Registered corporate securities (stocks, debt instruments, REITs, mutual funds).
  • Requirements: Certification from the custodian brokerage house, a certified copy of its business license, and SMV certification.

4. Fixed-Term Bank Deposit

  • Holding term: Must be set up for an uninterrupted minimum term of 5 years, free of any lien or pledge.
  • Amounts by banking entity:
    • Private banking: Minimum amount of US $750,000 in a privately owned bank holding a general license.
    • Or state banks: Minimum amount reduced to US $500,000 if the deposit goes exclusively into Banco Nacional de Panamá or Caja de Ahorros.
  • Requirements: An original bank certification (confirming the deposit’s existence, the funds, and their foreign origin, as well as the absence of liens) and a copy of the fixed-term deposit certificate.

Changes to the Filing Process, the Intake Window, and the Timelines

Executive Decree No. 17 of 2026 also introduces an improved mechanism for processing Qualified Investor Residency, which includes a Special Filing Window. This means a consolidated application will go before a single body, the Ministry of Commerce and Industry, which will coordinate with the National Immigration Service.

The process involves an Investment Certification from the Ministry of Commerce and Industry, for which the agency has up to 15 business days. After that, the National Immigration Service will decide on the residency within a maximum of 30 business days. A legal representative can file the application on your behalf, even before you enter the country.

Processing Fees

On this front, Executive Decree No. 17 introduced no changes; the rates remain the same as under the previous regulation. Beyond the investment payment, applicants must cover amounts for the immigration paperwork. The main applicant will pay a total of US $5,000 to the National Treasury for immigration filing fees, plus US $5,000 to the National Immigration Service as a repatriation deposit. An additional US $1,000 to the National Treasury and US $1,000 to the Immigration Service applies for each dependent.

Transitional Measures Under Executive Decree No. 17 of 2026

Executive Decree No. 17 of 2026 sets out certain terms for those who had already started their application, made their investment, or signed a binding contract before September 16, 2026. In these cases, those affected have a period of six (6) months from that date to file their application and qualify under the previous regulation’s requirements.

Likewise, any investment certification issued before that date will remain valid until it expires. Anyone holding residency or an application under the Economic Solvency category has twelve (12) months to convert their status to Qualified Investor, provided they meet the applicable amounts and requirements.

At Kraemer & Kraemer, our team of immigration specialists stands ready to guide you through every stage of the process. If you have already started a procedure to obtain permanent residency in Panama, we will assess the options available to you following the entry into force of Executive Decree No. 17 of 2026. Contact us.

To read the complete Executive Decree No. 17 of 2026, you can download the document here.


Executive Decree No. 17 of 2026 of Panama.