Panama - residency
Panama Qualified Investor Visa 2026: 30-Day Permanent Residency on $300,000+
Decree 722 of October 2020 created the fastest residency program in Latin America: USD 300,000 in Panamanian real estate converts to permanent residency in 30 business days, no provisional phase. We explain the three investment paths, the 5-year lock-up, and why this program is the best choice if you have the capital.
Key takeaway
If you can commit USD 300,000 to Panamanian real estate (or USD 500,000 to the stock market, or USD 750,000 to a 3-year fixed deposit), you can be a Panamanian permanent resident within 30 business days. The trade-off: your investment is locked for 5 years, and legal fees are the highest of any Panamanian residency category.
Executive Decree 722 of October 15, 2020 was written during COVID-19 as an economic stimulus: bring foreign capital into Panama, get permanent residency in 30 days. Five years later it is still the fastest direct-to-permanent-residency program in Latin America.
Three qualifying investments
| Minimum | Lock-up | Processing time | |
|---|---|---|---|
| Real estate | USD 300,000 | 5 years | 30 business days |
| Panama stock market (Bolsa de Valores de Panama) | USD 500,000 | 5 years | 30 business days |
| Fixed-term bank deposit | USD 750,000 (3-year CD) | 5 years | 30 business days |
Real estate path (most common)
- Property titled personally to the applicant (not through a company or trust)
- Residential, commercial, or raw land eligible
- Multiple properties can combine to reach USD 300,000
- Cash purchase only - bank financing disqualifies the investment
- Must be free of liens, mortgages, and legal disputes
- Funds must originate outside Panama (source-of-funds documentation required)
- Investment locked for 5 years from residency grant date
Securities path
- USD 500,000 in securities listed on Bolsa de Valores de Panama
- Purchased through a licensed Panamanian securities firm
- Both equities and bonds qualify
- Brokerage records serve as proof of ownership
- Same 5-year lock-up
Bank deposit path
- USD 750,000 in a fixed-term certificate of deposit at a Panamanian bank
- Minimum 3-year term on the CD itself
- 5-year lock-up for residency purposes (so CD is typically rolled once)
- Deposit must be in the applicant's personal name
- Unencumbered - cannot be pledged as collateral for any loan
- Bank compliance documents and source-of-funds declaration required
30-day timeline breakdown
2026 total cost
Dependents
- Spouse included under the same USD 300,000/500,000/750,000 qualifying investment
- Minor children included as dependents
- Adult children under 25 included if full-time students
- Parents of the principal applicant may be included with proof of economic dependence
- Additional USD 1,000 government fee per dependent + USD 1,500-3,000 per dependent in legal fees
Why Qualified Investor beats Friendly Nations when you qualify
| Qualified Investor | Friendly Nations | |
|---|---|---|
| Real estate minimum | USD 300,000 | USD 200,000 |
| Bank financing allowed | No | Yes |
| Processing time | 30 business days | 3-6 months |
| Provisional phase | None | 2 years |
| Permanent residency from day 1 | Yes | No (after year 2) |
| Legal fees (typical) | USD 10,000-15,000 | USD 5,000-8,000 |
| Government fees | USD 6,000+ | USD 1,300 |
| Investment lock-up | 5 years | Keep position through 2-year provisional |
| Nationality restriction | None - any country | 50+ friendly countries only |
| Citizenship clock starts | Day 1 of PR | Year 2 (after PR conversion) |
Investment lock-up and what counts as violation
The 5-year lock-up runs from the date permanent residency is granted (not the purchase date). Selling the property, withdrawing the deposit early, liquidating the securities position, or pledging the investment as loan collateral during the lock-up period triggers residency revocation. After year 5 the investment is fully liquid and you retain permanent residency indefinitely.
Citizenship timeline
5 years from the date PR is granted, you can file for Panamanian citizenship. Because Qualified Investor gives you PR from day 1, the total time to citizenship is roughly 5-5.5 years - shorter than Friendly Nations (7 years) and comparable to Pensionado (5 years from the date PR is granted). Spanish language, civics, and history tests apply identically.
Sources
- Official source: Servicio Nacional de Migracion - Qualified Investor category
- Official source: Gaceta Oficial - Executive Decree 722 of 2020
- Official source: Bolsa de Valores de Panama (securities path)
- Official source: Superintendencia de Bancos de Panama (deposit path)
- Official source: DGI - Direccion General de Ingresos (fiscal residency)
Related visa guides
Frequently asked questions
Is the USD 300,000 real estate threshold permanent?
No. The original Decree 722 of 2020 set the threshold at USD 500,000. A COVID-era reduction to USD 300,000 was scheduled to expire in October 2022 and has been extended by executive decree multiple times. As of April 2026 the USD 300,000 figure remains in force, but it can be raised back to USD 500,000 at any time. This is the most volatile number in Panamanian residency law - verify at migracion.gob.pa before committing funds.
Can I finance the real estate purchase?
No. The Qualified Investor Visa requires cash-only purchases for the real estate path. Any bank financing disqualifies the investment. If you need financing, use the Friendly Nations Visa (USD 200,000 real estate minimum, financing allowed) instead.
What happens if I sell the investment before 5 years?
Your permanent residency is revoked. The 5-year lock-up is mandatory and runs from the PR grant date, not the purchase date. After year 5 you can sell, refinance, or liquidate freely without losing residency. Many investors wait until day 5-year-and-1 to exit.
Does Qualified Investor pay any taxes in Panama?
Yes, on Panama-source income only. Rental income from the qualifying real estate is Panama-source and subject to Panamanian income tax (progressive brackets up to 25%). Foreign income remains exempt under the territorial system. Most investors hold the property for personal use or short-term rental via management companies that handle withholding.
How fast is 30 days really?
The 30 business days is the statutory target, not a guarantee. Files with complete source-of-funds documentation typically approve in 30-45 calendar days. Files with gaps get paused for supplementary requests, extending to 60-90 days. The biggest factor is preparation quality before filing, not review speed.