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 golden visa gives investors permanent residency immediately upon approval, without the need for physical presence. Note, however, that keeping the permanent resident status in contingent on visiting Panama at least every two years.
Investors may choose to qualify through real estate acquisitions, bank deposits, or fund investments.
A path to citizenship is available to those who can demonstrate fluency in Spanish. Timelines for naturalization range from one to five years, depending on the original nationality.
Program Type | Golden Visa Program |
Time to citizenship | 5 years |
Time to permanent residency | Immediately upon approval |
Minimum investment | US$300,000 |
Physical presence requirement | At least one visit every two years to maintain status |
Application processing time | 1-2 months |
Citizenship grants visa-free travel to | 141 destinations, including Schengen countries |
Contribution types available | Property Investment, Bank Deposit, Fund Investment |
General program requirements
The Qualified Investor Residency Visa offers three qualifying investment options, all of which have a mandatory holding period of five years:
An investment of $300,000 in real estate in the Republic of Panama, free of any liens.
An investment of $500,000 in securities on the Panama Stock Market, through any qualified and licensed Panamanian securities brokerage firm.
A deposit of $750,000 with a licensed bank in Panama. The interest income is tax free in Panama.
Additional fees:
$2,000 additional investment for each dependent.
$5,000 National Migration Service fee for the main applicant and $1,000 per dependent.
$5,000 National Treasury deposit for the main applicant and $1,000 per dependent.
Program benefits
Requirements to qualify for citizenship
The program issues applicants a permanent residency permit, valid for 5 years. The applicant must return to Panama at least once every two years to maintain a “presence in and connection to” the country. After 5 years, the applicant may sell the investments.
After five years of continued legal residence in Panama, investors are eligible to apply for citizenship.
The process of naturalization necessitates the involvement of a variety of public organs, such as the Ministry of Government and Justice, the Ministry of Public Services, the Electoral Tribunal, the Government Office, and the Presidency. The Panamanian President ultimately approves and signs all applications for naturalization. Prospective citizens should consult legal specialists to ensure all appropriate steps are followed.
The Panama Electoral Tribunal conduct an interview with the applicant to test his command of Spanish and knowledge of Panama’s history, geography, and civil rights. At this stage, a final application will made to the Presidency.
Panama does not technically recognize dual citizenship but does not in practice monitor whether its new citizens renounce other nationalities.
Citizens of several Latin American countries have a fast track option for citizenship through reciprocity:
– 1 year: Colombia, El Salvador
– 2 years: Argentina, Ecuador, Spain, Honduras, Mexico, Nicaragua, Peru
– 3 years: Uruguay
Legislation upon which this program is based:
Executive Order No. 722 of 15.10.2020
No statistics available yet for this program.
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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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