Panama: Reduced Investment Amount Concession for Certain Permanent Residence Applicants Extended

The Panamanian government has 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 until October 16, 2024. The minimum investment amount was initially expected to be raised to USD 500,000 after October 16, 2022 for these types of investments. Eligible individuals can continue to apply for permanent residence in Panama if they make one of the following investments for at least five years: at least USD 300,000 in tangible property; or at least USD 300,000 through a purchase agreement placed in escrow with an accredited financial institution in Panama. As a reminder, there are also other avenues of investment for foreign nationals seeking to apply for permanent residence in Panama including: investing at least USD 500,000 through a brokerage firm licensed in Panama trading financial instruments issued by companies doing business in Panama; or at least USD 750,000 in a five-year fixed-term deposit with any bank holding a general banking license in Panama.