To promote foreign investment in the country, Panama has created a new migratory subcategory as Qualified Investor, which grants Permanent Residence in Panama within a period not exceeding thirty (30) days.
The Qualified Investors, as it is known according to Executive Decree No. 722 of October 15, 2020, establishes various investment mechanisms for foreigners wishing to apply for residence under the same, which we summarize below:
- Real Estate Investment.
Until October 15th, 2022, this investment must be made for a minimum of THREE HUNDRED THOUSAND DOLLARS (US$ 300,000.00). After this date, the minimum investment needed is FIVE HUNDRED THOUSAND DOLLARS (US$ 500,000.00). To prove this investment the property needs to be registered under the name of the investor or through a corporation in which he is the final beneficiary.
- Real Estate Investment through a Purchase of Sales Contract
This modality of investment will require the amount of investment described earlier, with the possibility of having a Trust Agreement, administrated by a Panamanian fiduciary with license to operate, evidencing the partial disbursements to be made by the trust for the purchase and sale.
- Investment through Fixed Term Deposit in the Banking Sector:
When applying under this modality, the investment must be made for a minimum of SEVEN HUNDRED FIFTY THOUSAND DOLLARS (US$ 750,000.00) and a Certification from the bank stating the existence of the deposit, its holder, the amount, the term, needs to be presented.
- Investments through a Broker-Dealer House, with license to operate in Panama.
The minimum investment is FIVE HUNDRED THOUSAND DOLLARS (US$ 500,000) in securities, that affect in the National territory through the Panama Stock Exchange.
All the investments described above should be maintained for a period of five (5) years.
What is fantastic about this new immigration subcategory is that it grants Permanent Residence in Panama to foreigners within a period not exceeding thirty (30) days, at a unique window exclusively for the applicants of this visa, located in the Ministry of Commerce and Industries, with the advantage that the application process can be started without necessarily having entered the country.
The permanent residence by investment in Panamá in only 30 days is a new modality that very few countries have in Latin America.
If you are considering emigrating from your country, come and live in Panama, contact us through consultas@mudateapanama.com, or info@acclawyers.com; we will be very happy to assist and help you throughout the whole process needed to settle in our country.
