To apply for permanent residency as a Qualified Investor, the minimum investment in force depends on the route: US$300,000 for a new first-sale property or a purchase promise that meets the decree’s conditions; US$500,000 for a secondary-market property, eligible securities, or a term deposit at Banco Nacional de Panamá or Caja de Ahorros; and US$750,000 for a deposit at an authorized private bank. The investment must come from your own lawful, traceable funds and be maintained for five years. Under Executive Decree No. 17 of 2026, in force since September 16, 2026, the MICI has up to 15 business days to certify a complete application and Migration up to 30 business days to rule on it, once the complete file is received. The category is aimed at foreigners making an investment admitted by the regulation; amounts and requirements depend on the route chosen.
What is Qualified Investor residency?
It is an immigration subcategory that lets you apply for permanent residency in Panama through an investment that meets the conditions set by the Government. The process has two main phases: obtaining certification of the investment from the Ministry of Commerce and Industries (MICI) and filing the residency application with the National Migration Service.
The rule in force is Executive Decree No. 17 of September 8, 2026, published in Official Gazette Digital No. 30613. It replaced Executive Decree No. 722 of 2020 and its amendments, which is why some websites still show earlier rules. To confirm which requirements apply to an application, consult the text of the decree in the Official Gazette and the programme information published by the MICI.
What are the routes and minimum amounts?
The programme covers real estate investments, investments in the Panamanian securities market and fixed-term deposits. The real estate route now distinguishes between first-sale properties and secondary-market properties.
| Route | Minimum investment | Main condition |
|---|---|---|
| New first-sale property | US$300,000 | Must meet the decree’s first-sale conditions |
| Purchase promise (promesa de compraventa) | US$300,000 | Must be structured under the conditions and guarantees provided |
| Secondary-market property | US$500,000 | The net computable value must reach the minimum |
| Eligible securities in the Panamanian market | US$500,000 | Investment through a licensed securities firm |
| Term deposit at Banco Nacional or Caja de Ahorros | US$500,000 | Deposit placed directly at one of those banks |
| Term deposit at an authorized private bank | US$750,000 | Deposit at an institution with a general licence |
For routes subject to a maintenance period, the investment must be kept for five years. The table summarizes the thresholds of the current rule; immigration, legal and third-party costs are paid separately.
What changed for real estate investment?
Since September 16, 2026, the minimum depends on the legal and commercial status of the property. For a new, unoccupied property acquired in a first sale from the promoter, developer or their successor, the minimum is US$300,000. For a property that has already been marketed, occupied, leased or transferred to an unrelated person, the minimum is US$500,000, subject to the decree’s conditions and exceptions.
It is not enough for a unit to look new or to have never been lived in by its current buyer. You must verify whether it meets the definition of first sale in the regulation. In addition, to calculate the amount that can be recognized, the accredited value is taken into account and any liens on the property are deducted. If there is a mortgage, the net value must still reach the applicable minimum.
In some cases, the authority may request an independent commercial appraisal. It is therefore wise to review the property’s status, the price, the purchase structure and the documents before signing or transferring funds.
Can I apply with a property under construction?
Yes. A purchase promise can support a residency application from US$300,000, provided it is structured as the decree requires. The options described include using a trust administered by an authorized entity or, under specific conditions, paying 100% of the price to the developer with a bank guarantee in favour of the investor.
Protection varies with the structure used. Before committing funds, confirm which mechanism your specific case requires, when the money will be disbursed and what happens if the project is never completed. The decree sets deadlines and conditions for replacing an investment that is not completed for reasons attributable to the developer.
What options exist outside real estate?
The securities route lets you invest at least US$500,000 in eligible Panamanian-market instruments through a licensed securities firm. The decree includes categories such as certain investment funds, instruments issued or guaranteed by the State, and corporate securities that meet the regulatory conditions.
You can also place a fixed-term deposit. The minimum is US$500,000 at Banco Nacional de Panamá or Caja de Ahorros, and US$750,000 at an authorized private bank with a general licence. The investment must meet the source, documentation and maintenance requirements that apply to the route.
Who can apply and how do I prove the funds?
The category is aimed at foreign nationals who make one of the admitted investments. The applicant may invest personally or, where the route allows it, through an entity in which they can prove they are the beneficial owner and control the investment.
The funds must be your own, lawful, traceable and from a foreign source, as set by the decree. You will need to document their path: where they come from, how they reached Panama and how they were used to complete the investment. If a company or foundation is used, you must also support its existence, good standing and ownership structure.
Permanent principal residency is not Panamanian citizenship and does not guarantee automatic naturalization. The decree regulates how naturalization applications are channelled and requires that the corresponding constitutional and legal requirements be met.
What are the costs and timelines?
Investment amounts do not include the government payments for the procedure, professional fees or third-party costs. For the main applicant, the decree provides for US$5,000 to the National Treasury and US$5,000 to the National Migration Service as a repatriation deposit. For each dependent, it provides for US$1,000 to the National Treasury and US$1,000 to Migration.
| Item | Amount or timeline |
|---|---|
| Government payments, main applicant | US$10,000 in total |
| Government payments, per dependent | US$2,000 in total per person |
| MICI investment certification | Up to 15 business days from admission of the complete file |
| Migration ruling | Up to 30 business days from formal receipt of the complete file |
| Maintaining the investment | Five years, depending on the route and its conditions |
| Professional fees and third-party costs | Variable; should be quoted separately |
Legal deadlines start when a complete file is admitted or received. They are not the total time needed to prepare documents, make the investment, handle translations, apostilles, appraisals or banking procedures. The MICI certification has a limited validity for filing with Migration; check its validity before submitting the application.
What are the steps to apply for residency?
- Choose the route. Compare first-sale property, secondary market, securities or term deposit. Pick the option based on your investment goal and available capital.
- Verify eligibility before paying. For a property purchase, confirm in writing whether the property qualifies as first sale or secondary market, what value can be recognized and whether there are liens.
- Document the source of funds. Gather bank statements, transfer receipts and financial documents that explain the lawful origin of the capital and its path to the investment.
- Complete the investment and gather the supporting documents. Depending on the route, prepare registry, banking, securities, contractual or trust documents.
- Request certification from the MICI. File the complete application so the Ministry can review and certify the investment.
- File the application with Migration. With a valid certification, the immigration file is submitted, including personal documents and the corresponding payments.
- Maintain the investment and meet later obligations. Keep the investment for the required period and confirm how to prove it remains in place at each applicable review. If it must be replaced, respect the notification and reinvestment deadlines set by the decree.
The list of documents may vary by route, ownership structure and whether dependents are included. Book a video call with us to learn the current conditions of Qualified Investor residency and get your questions answered.
What mistakes should I avoid?
- Using amounts from an earlier rule. Decree No. 17 replaced the previous regime. In particular, the US$300,000 real estate minimum no longer applies generally to resale properties.
- Assuming a never-lived-in property qualifies as first sale. The classification depends on the facts and documents of the transaction, not just the property’s physical condition.
- Calculating the minimum from the advertised price. The recognized value may depend on the price paid, the accredited commercial value and any liens.
- Sending funds without keeping a paper trail. Transfers without clear supporting documents can complicate the certification of the investment.
- Confusing the repatriation deposit with legal fees. They are different items; ask for a breakdown of public fees, professional fees and third-party costs.
- Waiting until the end to review the transitional rules. If the investment or binding contract was completed before September 16, 2026, you may be able to opt for the previous regime within the six-month transitional period. The date and eligibility must be confirmed for each file.
