Panama Investor and Independent Means Visa Approval Volume Hit All-Time Highs in 2024

Moustafa Daly
Cairo

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After years of recalibrating its visa programs to attract investors, retirees, and expatriates, Panama’s investor residency programs are experiencing robust growth, evident in the most recent figures from Panama’s immigration authorities.

Fresh data from 2024 reveal a sharp recovery in key categories like the Friendly Nations Visa, which has bounced back after policy changes dampened demand. Meanwhile, the country’s investor and independent means visa programs are setting new records. Below is a closer look at the latest data.

Friendly Nations Visa Growing Again

After two years of declining approvals, the Friendly Nations Visa (FNV) rebounded in 2024, recording 3,228 approvals—an impressive 52% increase compared to the preceding year's 2,120. This is the first uptick in approvals since the program’s price increase from $5,000 to $200,000 in 2021 prompted a surge in applications that year, peaking at 4,318.

The renewed interest may suggest that demand is stabilizing as prospective applicants adjust to the higher entry costs.

Independent Means Visa: Record Momentum

Panama’s Independent Means Visa, formally known as the Jubilados y Pensionados program, achieved a record 1,917 approvals in 2024, surpassing its 2023 total of 1,627 approvals, appearing poised to maintain its upward trajectory.

This category has consistently grown since 2021, when it recorded 625 approvals, indicating increasing interest from foreign retirees and high-net-worth individuals.

Panama maintained exceptionally high approval rates across its investor visa categories in 2024, with all programs exceeding 95%. The Fixed Deposit and Real Estate Investor Visas reached a perfect 100% approval rate, while the Qualified Investor Permanent Residency Program (QIPR) reached 99%, 4% higher than in 2023. The Jubilados y Pensionados program maintained a stable approval rate of 97%, and the Friendly Nations Visa (FNV) saw a 2-point increase, also reaching 97%.

Investor Visa Approval Volume Broke All Previous Records, By a Wide Margin

Between 2023 and 2024, Panama’s investor visa programs saw precipitous growth. The Qualified Investor Visa rose by 75%, from 187 to 327 approvals, while the Self-Solvency Fixed Deposit Investor Visa grew by 65%, increasing from 105 to 173 approvals.

The Self-Solvency Real Estate Investor Visa recorded the largest jump, more than doubling from 63 to 133 approvals.

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