Panama Qualified Investor visa: new-build property stays at B/.300,000, resale rises to B/.500,000

Panama has changed its Qualified Investor permanent-residence rules. Executive Decree No. 17 of 8 September 2026, published in the Official Gazette on 16 September 2026, keeps a general minimum investment of B/.300,000 but now treats new and resale property differently. A first-sale, new and unoccupied property can qualify from B/.300,000, while a secondary-market property requires at least B/.500,000.

The decree took effect on publication. It replaces Executive Decree No. 722 of 2020 and its amendments. Anyone planning to use Panama’s Qualified Investor route should check which investment category their purchase falls into before signing or transferring funds.

What changed for property investors?

Panama uses the balboa at parity with the US dollar, so B/.300,000 is equivalent to US$300,000 and B/.500,000 to US$500,000.

What counts as a first-sale property?

The decree defines the lower B/.300,000 property route around an initial acquisition of a new and unoccupied property from the promoter, developer or successor. Certain corporate or title changes do not automatically destroy first-sale status if they did not amount to a commercial sale to an unrelated third party.

For a resale or secondary-market property, the minimum is B/.500,000. The decree describes this as an onerous transfer of a property that has previously been marketed, occupied, rented or transferred to an unrelated third party.

That distinction is commercially important. Two properties with the same market value may face different immigration thresholds depending on their history and transaction structure.

How long must the investment be maintained?

The investment generally has to be maintained for at least five years. The decree also creates an annual verification requirement. If the investment ends, is sold, substituted or otherwise ceases before the maintenance period is complete, the resident must notify the Ministry of Commerce and Industries within 30 calendar days.

The decree provides up to 90 calendar days to document an equivalent reinvestment in qualifying circumstances. Failure to replace the investment within the permitted period can lead to cancellation of the permanent-residence status.

What are the application charges?

In addition to the investment itself, Article 11 requires a B/.5,000 payment to the National Treasury for the immigration application and a further B/.5,000 repatriation deposit to the National Migration Service. For each dependent included in the application, the decree provides for B/.1,000 to the Treasury and a B/.1,000 repatriation deposit.

Applicants also need evidence showing that the qualifying funds came from abroad, together with the banking, financial or legal documents required for the chosen investment route.

What happens to applications or investments already in progress?

The decree includes transition rules. Applications submitted to the Ministry of Commerce and Industries or the National Migration Service before the new decree took effect continue under the requirements, conditions and investment amounts that applied when they were filed.

There is also a six-month transitional route for investments and binding contracts completed before the decree took effect. Those investors may be able to use the previous regime if the corresponding application is submitted within six months of the new decree’s commencement. Previously issued investment certificates remain effective until their expiry.

The transition wording is important and should be checked against the exact facts and dates of an individual transaction before relying on it.

How fast is the Qualified Investor process supposed to be?

The decree sets maximum administrative periods once complete files have been admitted. The Ministry of Commerce and Industries has up to 15 working days to issue the investment certification. After that certification, the immigration resolution is to be completed within no more than 30 working days from formal receipt of the complete file at the National Migration Service’s special processing window, subject to lawful suspensions.

Applications may also be filed through a special attorney before the applicant and dependants enter Panama, although biometric registration and registration in the foreigners’ registry must be completed before immigration cards are issued.

Does Qualified Investor residence lead to Panamanian citizenship?

The decree says Qualified Investors and their dependants may apply for Panamanian citizenship by naturalisation after completing five consecutive years of residence, provided they meet Panama’s constitutional and legal requirements. This is not automatic citizenship and the separate naturalisation requirements still apply.

What should a property buyer check before committing funds?

• Whether the property is legally a first-sale property or secondary-market property under the decree.
• Whether the transaction value and net qualifying value meet the correct threshold.
• Whether financing, liens or other charges affect the net amount that can be counted.
• Whether the source and transfer of funds can be documented as required.
• Whether a pre-existing contract or application qualifies for a transitional rule.
• Whether the five-year maintenance and annual verification obligations fit the buyer’s plans.

Official source: Panama Official Gazette No. 30613, Executive Decree No. 17, published 16 September 2026.

Last verified: 23 September 2026.

This article is general information for internationally mobile readers and investors. It is not personalised legal, tax or investment advice. Anyone relying on the Qualified Investor route should confirm the current requirements with the relevant Panamanian authorities and a suitably qualified adviser.

Featured image: residential skyscrapers in Panama City, photographed by Mariordo (Mario Roberto Durán Ortiz), via Wikimedia Commons, licensed under CC BY-SA 3.0.