The Panama Qualified Investor Visa has been a key attraction for foreign investors in recent years. Therefore, on this occasion, we will focus on two enactments that have modified Executive Decree No. 772 of October 15, 2020, and that may generate confusion.
The above-mentioned decree established, within the category of Permanent Resident for Economic Reasons, the subcategory of Permanent Resident as a Qualified Investor, specifying in its article 10 that, during the first twenty-four months after its entry into effect, a real estate investment of USD 300,000 would be accepted to obtain the investment certification. This certification is essential, as it constitutes a key document required by the National Migration Service for the application for Permanent Residency as a Qualified Investor.
Nevertheless, a significant modification was expected through Executive Decree 109 of October 13, 2022. This new decree intended to extend the aforementioned period from twenty-four months to forty-eight months. Consequently, as of October 15, 2024, the requirement to obtain the investment certificate would suffer a substantial increase, rising from USD 300,000 to USD 500,000.
However, on October 15, 2024, Decree 193 was enacted, which stipulates that the requirement to obtain the investment certificate remains at a minimum amount of $300,000 for real estate, either through direct sale or promise of sale; the latter may be through a trust or full prepayment with bank guarantee. This can be interpreted as an indicator of the importance the country places on foreign investment and the sustainability of real estate projects in Panama’s economic landscape.
It is relevant to note that the other two investment options, such as time deposits in Panamanian banks with a general license and the purchase of shares in the Panama Stock Exchange, remain unchanged. Investors interested in diversifying their portfolios with these alternatives can still take advantage of the existing opportunities in these financial instruments. This aspect provides strategic flexibility to those seeking to explore different investment vehicles.
Get the right legal advice
For those investors interested in taking advantage of the current conditions prior to the entry into force of the change in the Panama Qualified Investor Visa law, we urge you to contact us as soon as possible. By anticipating these changes, they will have the opportunity to start your procedures efficiently and take benefit of the current economic conditions, thus avoiding the increase in the real estate investment requirement. Our specialized team is ready to provide personalized advice and guide investors through every stage of the process, ensuring a smooth process to obtaining the Panama Qualified Investor Visa. Don’t miss the opportunity to maximize your investments and secure your immigration status under current conditions. Contact us today!
