PANAMA QUALIFIED INVESTOR VISA OF OCTOBER 15 2020 – Possible Changes

Overview

The Panama Investor Visa, established by Executive Decree 722 on October 15, 2020, created a new category of permanent residency for economic reasons. Through this program, the applicant can become a permanent resident by making a qualified investment in Panama, including the following options:

• Real Estate: Invest US $300,000 (until October 2024), or US $500,000 afterwards, free of liens. The investor must hold the property for a term of 5 (five) years.
• Real Estate projects in pre-sale: sign a purchase and sale contract for the sum of US$500,000 or more, free of liens.
• Investment in the Panamanian Stock Market: Purchase securities through a qualified and licensed Panamanian brokerage firm, for US $500,000 or more, for a term of 5 (five) years.
• Fixed term deposit in the Banking Sector: open a time deposit of US $750,000 or more, free of liens, in a qualified Panamanian bank, for a term of 5 (five) years.

We are now looking at an extension to this Investor Visa:

Speak to your Panama lawyer regarding the government of Panama proceeding or not proceeding with the published price increase to their Qualified Investors Visa.  It was to be raised as of October 24th raising the cost of housing from $300,000 to $500,000 in order to get residency.  It still remains in effect but with exceptions and may involve dependents according to some law firms, but we will keep in touch with them to find out more for you. 

We are hoping that all will stay at the same $300k USD price point for real estate investments!  You can purchase a place in Panama, either as an investment property or as a home to live in, and we hope that it can be secure for you to receive instant permanent residency in this beautiful, safe, and potentially tax-free country of ours known as Panama.  This could be a massive win for outside communities and those wanting to live here in Panama.

Be aware that there are a lot of fake salesmen and companies trying to take your money hoping that all will be well with moving to Panama and the 300k will not be bumped to 500k but don’t listen to them.  Your Panama lawyer can help you through this process of getting permanent residency in Panama.  The Government of Panama does have the willingness to listen and understand that Panama cannot price itself out of the market compared to neighboring countries that are also after expats to move there.  Panama also realizes that it has much going for them in this country that it is worth it to pay more for what they offer to the expat community.  More to come later……….