Panama: Reduced Investment Amount and Other Relaxed Measures for Certain Permanent Residence Applicants
October 16, 2024
The Panamanian government has relaxed certain measures for foreign investors. First, it permanently extended the availability of a reduced minimum investment amount of USD 300,000 for foreign nationals seeking to apply for the Permanent Residence for Qualified Investors category through investments in tangible property or purchase agreements for unfinished property. The minimum investment amount was previously expected to be raised to USD 500,000 after October 15, 2024 for these types of investments. Additionally, these investors may now qualify if they invest in property under construction and pay the full value of the investment directly to the developer. Previously, a purchase agreement placed in escrow with an accredited financial institution was required (which also remains an option). However, the investor must secure a bank guarantee from the developer, among other requirements. Furthermore, applicants may now qualify if they co-own the property with their spouse or other family member, whereas previously, the applicant needed to personally own the property amounting to the full minimum investment amount.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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