Panama Golden Visa

Panama's golden visa is the Qualified Investor permanent residence (Residente Permanente en calidad de Inversionista Calificado). Investors who put foreign-source funds into Panama get permanent residence from the first approval, with no provisional stage.

Executive Decree 17 of Sept. 8, 2026, in force since Sept. 16, 2026, rewrote the program and replaced Executive Decree 722 of 2020. The Ministry of Commerce and Industries (MICI) says the decree lowers the entry point for new property, adds deposits in state banks and sets clearer processing times.

The investment must be kept for 5 years.

Applicants qualify with one of these investments, made with funds from abroad, as confirmed by MICI and PROPANAMA:

• New real estate bought on first sale: at least $300,000
• Resale real estate: at least $500,000
• Securities held through a Panama-licensed securities house: at least $500,000
• Fixed-term deposit at Banco Nacional de Panama or Caja de Ahorros: at least $500,000

Deposits at private banks also qualify, but no official source yet states the minimum under the new decree, so it should be confirmed with MICI before committing funds.

Spouses and children can be included; children aged 18 to 24 must be full-time students.

MICI investment certificate

The MICI checklist (issued under the 2020 decree) asks for proof of the investment and of its foreign origin:

• Real estate: a Public Registry certificate of ownership and a valuation certificate, or for pre-sale property a registered promise of sale and a trust agreement covering the payments
• Securities: a certificate from the licensed securities house and a certificate from the Superintendency of the Securities Market
• Deposits: a copy of the deposit certificate and a bank letter confirming holder, value, term, that it is free of liens and that the funds came from abroad
• Foreign origin of funds: a bank letter confirming the transfer, a stamped foreign bank statement or a notarized letter from the recipient

Residence application

• a notarized power of attorney and the lawyer's application
• three photographs and a certified copy of the passport
• a criminal record certificate and a health certificate
• the sworn personal background form
• the MICI investment certificate
• proof of payment of the government fees

Dependents add proof of the relationship, a notarized letter of responsibility and their own fees. MICI has not yet published a checklist under the 2026 decree.

• National Treasury: $5,000 for the main applicant
• SNM: $5,000 for the main applicant
• Each dependent: $2,000 in total, split between the Treasury and the SNM

These amounts come from MICI's checklist under the 2020 decree. The investment itself is capital held, not a fee. Legal fees, property transfer costs, translations and apostilles are extra.

Two steps: the Ministry of Commerce and Industries (MICI) certifies the investment, then the Servicio Nacional de Migracion grants residence. The program allows filing from abroad online.

1. Make the investment with funds transferred from abroad.
2. File for the investment certificate with MICI.
3. Through a Panamanian lawyer, file the residence application with the Servicio Nacional de Migracion (SNM), attaching the MICI certificate.
4. Pay the government fees and receive permanent residence on approval.

The decree sets statutory deadlines for MICI and the SNM. Online filing from abroad was described for the 2020 regime and has not been confirmed for the new decree.

Permanent residence from the first approval, with no provisional stage, as long as the investment is held for 5 years.

The holding period applies to every investment route, and the residence depends on keeping a qualifying investment for the full period. There is no renewal cycle.

Panama's income tax is territorial. Article 694 of the Fiscal Code taxes income produced within Panama's territory, wherever it is received. The DGI (tax authority) treats a person as tax resident after more than 183 days in the country in a fiscal year or the year before.

The Qualified Investor program creates no special tax regime. Rental income from Panama property and interest on Panama deposits arise in Panama, so investors should confirm how they are taxed with the DGI.