Through Executive Decree No. 722 of October 15, 2021, the government of the Republic of Panama created the new residency program called “Qualified Investor.”
With this new program, the current administration intends to promote local investment in Panama by granting a convenient permanent resident status to any applicant and dependents.
In addition to the traditional requirements for any residency program, the main requirement to meet will be to make the investment in accordance with the amounts and standards created, as follows:
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Real Estate – The purchase of a property for US$500K, however until October 15, 2022 the investment can only be for US$300K. The purchase of this asset must not have liens or loans. Property can be purchased in personal name or through a corporation/foundation.
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Securities – Investment of a registered securities office for US$ 500K through an authorized securities office for a period of no less than 5 years.
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Bank – Establish a time deposit in any authorized bank in Panama for US$ 750K for 5 years. The deposit must be free of any financial commitment or encumbrance.
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Highlights of the program.
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The application can be submitted without the presence of the applicant, however, once approved, the applicant and their dependents must travel to Panama to complete the process.
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The immigration office together with the Ministry of Commerce has created a special VIP office to process applications.
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The application for residency in this program will be approved within 30 days of its submission.
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Investment in real estate; Investment in securities or term deposit must be held for 5 years, otherwise permanent resident status may be cancelled. Each investment process will have parallel requirements and procedures that will be addressed and quoted separately. Immigration will require testing each year to verify that investments have been made.
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All funds for investment must come from abroad.
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After 5 years of being a permanent resident, the applicant and his or her dependents have the right to apply for Panamanian citizenship.
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Our team will be happy to help you obtain your residency; the process of purchasing a property; Constitution of term deposits or organization of an investment portfolio.
The BusinessPanama Group provides a convenient one-stop shop offering you the following services:
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Real estate brokerage to find a house or apartment
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Constitution of companies, LLCs, trusts and foundations.
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Bank and business accounts
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Wealth management services
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Application for visas, work and residence permits for expatriates
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Relocation services
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Others
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For more information, please contact us.
Customer Service
BusinessPanama Group
US and Canada Toll Free 1-888-800-8947
Local telephone +507-223-6788
Email - inquiries@businesspanama.com
www.BusinessPanama.com