In order to promote economic reactivation by attracting high net worth investors to energize different sectors of the economy such as real estate and construction, the National Government announced the new Permanent Residence program for Economic Reasons for Qualified Investors.
Under this program, the Investor can obtain his permanent residence within a maximum period of 30 business days from the presentation of the documents in the immigration services, making an Investment of US$ 300,000.00 in real estate, during the first twenty-four (24) months from the entry into force of the new legal provision, that is, until October 15, 2022. After the 24-month period, the minimum investment amount will be US $ 500,000.00.
For the first time, there will be a program that allows Qualified Investors to apply from abroad. That is, you can make the investment from abroad, through a local lawyer, and complete the process when you are in Panamanian territory.
To apply for the Permanent Residence Permit as a Qualified Investor, the Investor must prove one of the following forms of investment, which must be maintained for a minimum period of five (5) years:
- For reasons of Real Estate Investment: Through the purchase of real estate for an amount of US $ 300,000.00, this amount is applicable during the first twenty-four (24) months from the entry into force of the program, that is, until the 15th of October 2022. After that date, the required amount will be US $ 500,000.00.
- By reason of Real Estate Investment through a promise of sale contract: Purchase of a real estate made through a trust deposit managed by a local bank or trustee, licensed to operate within the Republic of Panama.
- By reason of investments made through a Brokerage House with a license approved by the Superintendency of the Stock Market of Panama: The investor who makes one or more investments through a Brokerage House licensed in the Republic of Panama by a minimum amount of US $ 500,000.00, in securities of issuers, whose business has effect in the national territory through the Panama Stock Exchange and whose commitment is maintained for at least five (5) years from the moment it is perfect that investment.
- By reason of investment in Fixed Term Deposit in the banking sector: The Investor must make an investment of US $ 750,000.00, by opening a fixed term deposit which must be established for a minimum term of five (5) years of validity.
Relevant program information:
- To make the investment, it must be proven that the money comes from abroad, through a series of requirements required by law.
- Real estate can be purchased in person or through a corporation legally incorporated in Panama.
- To maintain Permanent Residence, you must enter Panama once every two years.
- Permanent residence is obtained in thirty (30) business days.
- The applicant can acquire Panamanian nationality five (5) years after obtaining permanent residence.
