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 remained on the EU's Annex I list of non-cooperative tax jurisdictions at the February 2026 review. This is a live banking problem. EU counterparties apply enhanced due diligence, and some refuse Panamanian structures outright. The next review is October 2026.
- 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.