Reviewed by Jane Katkova, Founder & Licensed CICC ConsultantPanama has rewritten the rules of its Qualified Investor permanent residence category. Executive Decree No. 17 of 8 September 2026 was published in the Official Gazette (No. 30613) on 16 September 2026 and took effect that day. It replaces Executive Decree No. 722 of 2020 and its amendments, the framework under which the programme had operated since launch.
The headline change is a two-tier real estate threshold. New or first-sale property still qualifies from US$300,000. Property that has previously been sold, occupied or rented now requires US$500,000.
Qualifying investments under Executive Decree No. 17
| Route | Minimum investment | Holding period |
|---|---|---|
| New (first-sale) real estate | US$300,000 | 5 years |
| Pre-construction real estate | US$300,000 | 5 years |
| Resale real estate | US$500,000 | 5 years |
| Securities through a licensed broker | US$500,000 | 5 years |
| Fixed-term deposit, Banco Nacional or Caja de Ahorros | US$500,000 | 5 years |
| Fixed-term deposit, private bank | US$750,000 | 5 years |
Pre-construction and source of funds
Pre-construction purchases remain eligible, with buyer protections. Panamanian counsel report two permitted structures: funds held in trust or escrow with a licensed Panamanian bank or trust company, or full payment backed by an irrevocable bank instrument that is renewed annually. Residence may rest on a promise-to-purchase agreement for a maximum of three years before registered title is required.
The investment must arrive by international transfer from an account in the applicant's own name, or from a company of which the applicant is the ultimate beneficial owner. Investors confirm the investment each year to the Ministry of Commerce and Industries for five years.
Fees, processing and transition
- Government fees reported by counsel: US$5,000 plus a US$5,000 repatriation deposit for the main applicant; US$1,000 plus US$1,000 per dependant.
- Stated processing: 15 business days for the investment certificate and 30 business days for the Servicio Nacional de Migración resolution.
- Applications filed before the decree continue under the rules in force when they were filed.
- Investments and binding contracts completed before 16 September 2026 may use the previous thresholds if the application is filed within six months, which counsel place at roughly mid-March 2027.
What this means for applicants
For US and Canadian citizens, the Panama Qualified Investor Visa remains one of the fastest routes to permanent residence in the Western hemisphere, and the US$300,000 entry point survives for new-build property. The change matters most to buyers who prefer established buildings in Panama City or resale homes in Boquete and Coronado: those purchases now need US$500,000 to support a residence application. A state-bank deposit of US$500,000 is a new, lower-cost alternative to the US$750,000 private-bank deposit.
Anyone who signed a purchase contract before 16 September 2026 should check the transition window now, because the six-month filing period is short once apostilles and police certificates are added. New buyers should have counsel confirm in writing whether a unit counts as first-sale, and should plan the wire from a personal account from the start. US and Canadian residents on other passports should also confirm documentary requirements for their nationality.
Permanent residence in Panama does not change US or Canadian tax obligations, and naturalisation after five years carries Spanish and civics requirements. To review your own position, book a consultation with our team.