Panama Qualified Investor Visa 2026: New-Build from $300K

Living in Panama as an investor starts with the Qualified Investor Visa (QIV), which grants permanent residency immediately upon approval. The Panama Qualified Investor Visa (QIV) grants you permanent residency immediately upon approval. There is no temporary stage and no presence requirement during the process. Since 16 September 2026 the new Executive Decree No. 17 applies and fully replaces the 2020 rules.

The biggest change concerns real estate: Panama now distinguishes between new-build bought directly from the developer (from US$300,000) and resale property (from US$500,000). If you invest through a pre-sale contract in a property not yet completed, the threshold stays at US$300,000, but a bank guarantee is required.

These investment routes qualify:

• New-build property (first sale) from US$300,000
• Resale property from US$500,000
• Pre-sale contract (off-plan) from US$300,000 with a bank guarantee
• Securities through a licensed Panamanian brokerage from US$500,000
• Fixed-term deposit with a private bank from US$750,000, or from US$500,000 with the state banks Banco Nacional de Panamá or Caja de Ahorros

Once you hold permanent residency, 1 day every 2 years in Panama keeps the status alive. The investment must be held for 5 years.

Two points make the QIV one of the strongest residency programmes anywhere in our view: under Law 493 of 2025 you receive a Panamanian special passport as an additional travel document as a QIV resident, without becoming a citizen and without touching your own citizenship. And the new decree explicitly anchors naturalisation after 5 years of residence for you and your dependents.

Panama does not formally recognise dual citizenship but in practice does not check whether naturalised citizens give up their previous one. For Germans and Swiss, whose countries accept dual citizenship, the path to a Panamanian passport is therefore open. As an Austrian you use the QIV as a plan B with a special passport, without putting your own citizenship at risk.

Decree No. 17 of September 2026 sets the minimum investment per route. All amounts in balboa equal the US dollar 1:1.

• New-build property (first sale): US$300,000
• Resale property: US$500,000
• Pre-sale contract (off-plan) with bank guarantee: US$300,000
• Securities through a licensed brokerage: US$500,000
• Fixed-term deposit with a private bank: US$750,000
• Fixed-term deposit with Banco Nacional de Panamá or Caja de Ahorros: US$500,000

The investment must come from abroad, be paid from your own funds and be held for at least 5 years. If it ends earlier, you report it within 30 days and have 90 days for an equivalent reinvestment, otherwise the residency lapses.

Government fees come on top: US$5,000 plus US$5,000 for the main applicant, US$1,000 plus US$1,000 per dependent. The additional investment amount per dependent required by the old 2020 decree no longer exists.

The government fees for the Panama Qualified Investor Visa under Decree No. 17 (2026):

Main applicant: US$5,000 application fee to the National Treasury (Tesoro Nacional) and US$5,000 repatriation deposit to the National Migration Service (Servicio Nacional de Migración), both filed with the application.

Per dependent: US$1,000 application fee and US$1,000 repatriation deposit. The same amounts apply if you add dependents after approval.

Pre-sale contract: Additionally the cost of the bank guarantee, which must be renewed annually.

There is no longer an additional investment amount per dependent. Fees for lawyers, notaries, translations and apostilles come on top; we are happy to put together a full calculation for your family setup.

You qualify with an investment of at least US$300,000 from a foreign source, from your own funds and with traceable origin. The investment can be made personally or through a company, as long as you are the beneficial owner. Every route ties up the capital for at least 5 years.

• New-build property (first sale), from US$300,000: A new, unoccupied property bought directly from the developer or its successor. Proof runs through the Public Registry and the building or occupancy permits.
• Resale property, from US$500,000: A property that has already been sold, occupied, rented or transferred to an unrelated third party. Inheritance, subdivision or a transfer into a trust do not count as a prior sale.
• Pre-sale contract (off-plan), from US$300,000: Either as an escrow deposit with a licensed bank or as a 100% advance payment to the developer. An irrevocable bank instrument (for example a bank guarantee) covering the full amount is mandatory, valid until the property is registered in your name and renewed annually. If construction is delayed, you have 180 business days to switch to another pre-sale contract.
• Securities, from US$500,000: Through a brokerage licensed in Panama, for example government bonds or treasury notes. If the value drops, you have 90 days to top up.
• Fixed-term deposit, from US$750,000: With any licensed private bank, unencumbered for 5 years. With Banco Nacional de Panamá or Caja de Ahorros, US$500,000 is enough.

Government fees: US$5,000 application fee to the National Treasury and US$5,000 repatriation deposit to the National Migration Service for the main applicant. Per dependent US$1,000 plus US$1,000.

Procedure: The Ministry of Commerce issues the investment certificate within 15 business days, the Migration Service decides within 30 business days. You can file through a special attorney before entering Panama; biometric registration in Panama is required before the residency card is issued.

Physical presence: None during the procedure. Afterwards at least 1 day every 2 years in Panama.

Transition rule: If you signed a binding purchase contract before 16 September 2026, you can still use the old rule of US$300,000 for resale property, provided the application is filed within 6 months of the decree taking effect. We are happy to check with you whether your contract qualifies.

Permanent residency is granted immediately upon approval, without temporary stages or waiting periods. Holders only need to spend 1 day every 2 years in Panama to keep the status. This minimal presence requirement allows maximum geographic flexibility.

Panama passport without citizenship: Under Law 493 of 2025, QIV residents and their dependents can apply for a Panamanian special passport. It is an additional travel document and proof of your residency status, valid as long as the permanent residency exists, and it does not replace your home passport. You do not become a citizen and you keep your existing citizenship. In our view this is the big advantage of the QIV over almost every other residency programme.

Clear path to citizenship: Decree No. 17 explicitly anchors for the first time that you and your dependents can apply for naturalisation after 5 consecutive years of residence. The Panamanian passport grants visa-free access to 141 countries. For nationals of certain Latin American countries the period shortens to 1 to 3 years.

Fast procedure with fixed deadlines: 15 business days for the investment certificate, 30 business days for the Migration Service decision. You file through a special attorney before you even enter the country.

Panama levies no tax on foreign income. Only income earned in the country is taxable. Interest on the fixed-term deposit is tax-free. This territorial taxation offers substantial advantages for internationally structured entrepreneurs.

The cost of living is well below Germany, Austria and Switzerland. Housing, healthcare and everyday expenses are below European levels. Panama City offers modern infrastructure at lower cost than comparable metropolises.

Panama is one of the most stable countries in Latin America. The US dollar is the official currency, so there is no currency risk from local inflation cycles. The location gives direct access to the Pacific and the Caribbean; for entrepreneurs with business interests in North and South America, Panama is a central hub.

Transition period: If you bought under a binding contract before 16 September 2026, you can still apply under the old rules for 6 months after the decree took effect. Panama and other countries are not tightening their investor programmes for the first time, and the direction is clear: higher thresholds, more compliance, shorter deadlines. This is exactly what we have been warning about for years. Implement your flag theory plan before options get tightened or abolished.

Decree No. 17 (2026) explicitly anchors the path to Panamanian citizenship for the first time: after 5 consecutive years of residence in Panama, QIV residents and their dependents can apply for naturalisation. The Ministry of Commerce certifies that your investment is still in place; the application goes through the ministry's investment desk and is approved by the Migration Service if all constitutional requirements are met.

Until then, the special passport under Law 493 already gives you a Panamanian travel document without being a citizen. If your home country accepts dual citizenship, as Germany and Switzerland do, you can additionally pursue full citizenship in the long run. As an Austrian you stay with the special passport and do not risk your own citizenship.

The decree does not define how much physical presence is actually required for naturalisation. We warn against planning with the minimum of 1 day every 2 years if citizenship is the goal: if you seriously want it, expect noticeably more time on the ground and get involved in society.

Naturalisation passes through several levels of government up to the presidency; the Panamanian president personally signs all naturalisation certificates. The Electoral Tribunal conducts a personal interview in Spanish covering history, geography and civic rights. Without solid Spanish, naturalisation is practically impossible.

Nationals of certain Latin American countries benefit from shorter periods under reciprocity agreements:

• 1 year: Colombia, El Salvador
• 2 years: Argentina, Ecuador, Spain, Honduras, Mexico, Nicaragua, Peru
• 3 years: Uruguay

Dual citizenship is not legally recognised. Panama formally requires renunciation of the previous citizenship upon naturalisation but does not check this in practice. Many naturalised citizens keep both passports without consequences.

The Panama Qualified Investor Visa is administered by the National Migration Service (Servicio Nacional de Migración); the investment certificate is issued by the Ministry of Commerce and Industries.

The legal basis is Executive Decree No. 17 of 8 September 2026 of the Ministry of Public Security, published in the Gaceta Oficial No. 30613 of 16 September 2026 and in force since then. It fully replaces Executive Decree No. 722 of 15 October 2020 and its amendments.

The special passport for QIV residents is based on Law 493 of 28 October 2025, which supplements the passport law (Law 32 of 2013); the procedure and minimum investment are set by the implementing regulation.

Several institutions are involved in naturalisation: the Ministry of Government and Justice, the Electoral Tribunal and the Presidency. The Panamanian president signs all naturalisation certificates.