In Panama, 1 in 6 Immigrants is an Investor
Panama has approved 388 investor visas so far in 2023. In the last six years, investors account for 16% of all residence permits issued.
Panama’s Business Investor Residency Permit is an Active Investor Visa that requires the applicant’s personal involvement in the day-to-day affairs of the business into which they invest a minimum of US$160,000.
This visa is suitable only for those willing to physically spend most of their time in Panama running a business that employs local staff on a permanent basis.
Permanent residency is available after two years, and applicants who speak Spanish and have made Panama their de facto home are eligible to apply for citizenship within five years.
Program Type | Active Investor Visa |
Time to citizenship | 5 years |
Time to permanent residency | 2 years |
Minimum investment | US$160,000 |
Physical presence requirement | Not specified |
Application processing time | 1-2 months |
Citizenship grants visa-free travel to | 141 destinations, including Schengen countries |
Contribution types available | Business Investment |
General program requirements
To qualify for the Business Investor Residence Permit, an applicant must invest US$160,000 in a new or existing business incorporated in Panama. An additional investment of US$2,000 is required for each dependent additional to the main applicant.
The investment must result in the creation of at least five full-time jobs for Panamanians, who each are paid a salary of at least the minimum wage established by law.
Each employee needs to be registered with Social Security (CSS).
A US$1,050 government application fee applies.
The main applicant may include dependents, such as a spouse and children aged up to 25. Children between 18 and 25 years of age need to demonstrate financial dependence on the main applicant and, further, that they are engaged in in full-time studies.
Program benefits
Requirements to qualify for citizenship
The initial residency permit is valid for two years. If the applicant continues to meet the requirements, he may apply for permanent residency after two years.
After five years of continuous residency, the applicant may be eligible for citizenship. The applicant must prove that Panama is his or her permanent home. Passing a test to demonstrate mastery of Spanish language, knowledge of Panamanian history, culture, and values is necessary before applying for citizenship, as is attending an interview with Government officials.
Panamanian nationality law requires an oath of renunciation of the applicant’s nationality. The renunciation process does not need to be made formally to their home country’s relevant authority. Though Panama formally does not recognize dual citizenship, it is generally permitted in practice.
Legislation upon which this program is based:
Panama Migration Articles 20 to 22 of the Law by Executive Decree 3-2008
No statistics are available for this program yet.
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Panama has approved 388 investor visas so far in 2023. In the last six years, investors account for 16% of all residence permits issued.
“Most of our clients now pick either the Qualified Investor or Friendly Nations visas,” says Savannah Bruce.
So far in 2022, Panama has approved 1,229 such visas for main applicants, nearly as many as in the three preceding years combined.
Panama will keep its Qualified Investor Visa minimum investment requirement for real estate at US$300,000 for another two years.
Panama is on track to approve more independent means visas this year than in the preceding three years combined.
Panama’s independent means visas could reach all-time highs this year, while the Friendly Nations Visa is losing its luster, now that it requires an investment.
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Barbados SERP Program
Bermuda Economic Investment Certificate (EIC) Program
Brazil Investor Visa (VIPER)
Cambodia My 2nd Home
Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program (discontinued)
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
Russia Investor Visa
South Korea Investor Visa
Spain Golden Visa
Taiwan Golden Visa (APRC Plum Blossom Card)
Thailand Elite Residence Program
UAE Golden Visa
UK Investor Visa (discontinued)
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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