Countries › Panama › Guide › 8. Immigration › Panama's qualified investor residence (golden visa) under Decreto Ejecutivo 17 de 2026: B/.300,000 new property, B/.500,000 resale property or securities, B/.500,000 to B/.750,000 deposits

Panama's qualified investor residence (golden visa) under Decreto Ejecutivo 17 de 2026: B/.300,000 new property, B/.500,000 resale property or securities, B/.500,000 to B/.750,000 deposits

Last verified: 2026-10-29 · Status: Changing

Since 16 September 2026 the qualified investor permanent residence is governed by Decreto Ejecutivo 17 de 2026, which replaced Decreto Ejecutivo 722 de 2020. The minimum investment, made with traceable funds from abroad, is B/.300,000 in a new (first sale) property, B/.500,000 in a resale property, B/.500,000 in securities through a licensed Panamanian brokerage, or a five year time deposit of B/.750,000 in a private bank or B/.500,000 in Banco Nacional or Caja de Ahorros. The application costs B/.5,000 to the Treasury plus a B/.5,000 repatriation deposit, the investment must be kept five years with annual proof, and holders may seek naturalization after five years of residence.

Panama's currency, the balboa (B/.), is at par with the US dollar, which circulates as legal tender; the Superintendencia de Bancos states that the balboa's value is on a par with the US dollar (checked 29 October 2026). USD figures therefore equal the balboa figures.

Key facts

Qualified investor: minimum new (first sale) property investment	300000 PABDecreto Ejecutivo 17 de 2026 art. 4 a, as of 2026-10-29 · in force
Qualified investor: minimum resale property investment	500000 PABDecreto Ejecutivo 17 de 2026 art. 4 b, as of 2026-10-29 · in force
Qualified investor: minimum securities investment	500000 PABDecreto Ejecutivo 17 de 2026 art. 8, as of 2026-10-29 · in force
Qualified investor: minimum time deposit at a private bank	750000 PABDecreto Ejecutivo 17 de 2026 art. 9 a, as of 2026-10-29 · in force
Qualified investor: minimum time deposit at Banco Nacional or Caja de Ahorros	500000 PABDecreto Ejecutivo 17 de 2026 art. 9 b, as of 2026-10-29 · in force
Minimum holding period of the investment	5 yearsDecreto Ejecutivo 17 de 2026 art. 12, as of 2026-10-29 · in force
Government payments, main applicant (Treasury fee plus repatriation deposit)	10000 PABDecreto Ejecutivo 17 de 2026 art. 11, as of 2026-10-29 · in force
Maximum time for the migration resolution after certification	30 working daysDecreto Ejecutivo 17 de 2026 art. 15, as of 2026-10-29 · in force
Exchange rate used for USD conversions	1 PAB per USDBalboa at par with the US dollar (Superintendencia de Bancos), as of 2026-10-29 · in force

The rule

1. The qualified investor is a subcategory of permanent residence for economic reasons. The investment must be at least B/.300,000, come from a foreign source, and may be made personally or through a legal entity of which each applicant is the beneficial owner. Funds must be the applicant's own and traceable; gifts or other gratuitous transfers from third parties do not count.Decreto Ejecutivo 17 de 8 de septiembre de 2026 (Gaceta Oficial 30613 of 16 September 2026), arts. 1 and 2, 2026-09-08 official text · verified 2026-10-29 · changed: Decreto Ejecutivo 17 de 2026 replaced Decreto Ejecutivo 722 de 2020 (as amended by Decreto Ejecutivo 109 de 2022 and 193 de 2024) on its promulgation in Gaceta Oficial 30613 of 16 September 2026, introducing first sale and resale property tiers, a B/.500,000 option at Banco Nacional and Caja de Ahorros, bank guarantees for off plan purchases and appraisal checks.

2. The Ministerio de Comercio e Industrias (Dirección Nacional de Promoción de la Inversión) issues an Investment Certification after reviewing the file and sends it to the Servicio Nacional de Migración; the certification is valid for three months and must be current when the complete application is filed. Funds from abroad are those that entered the Panamanian financial system by international transfer, or that can be documented as originating in an earlier international transfer.Decreto Ejecutivo 17 de 2026, art. 3, 2026-09-08 official text · verified 2026-10-29

3. Real estate route: B/.300,000 minimum for a first sale property (new, unoccupied, transferred by the developer) and B/.500,000 minimum for a secondary market property. The computable value is the lower of the price actually paid and the reasonably proven market value, minus outstanding liens; any excess above the minimum may be financed if no lien reduces the net value below the minimum. Property may be held through a company or private interest foundation if beneficial ownership and control are proven.
Cost to do it: Minimum B/.300,000 (new) or B/.500,000 (resale) of net equity in the property.
Example: A B/.420,000 new apartment with a B/.100,000 mortgage has a net value of B/.320,000 and qualifies; the same unit bought on the resale market would not. / US$420,000 price, US$320,000 net value.Decreto Ejecutivo 17 de 2026, arts. 4 and 5, 2026-09-08 official text · verified 2026-10-29

4. The ministry may verify the cadastral value with ANATI and require an independent commercial appraisal, issued within six months by an appraiser recognized by Banco Nacional and Caja de Ahorros, at the applicant's cost, where there is reasonable doubt about value.Decreto Ejecutivo 17 de 2026, art. 6, 2026-09-08 official text · verified 2026-10-29

5. Off plan purchases under a promise of sale qualify at B/.300,000 either through a trust deposit with a licensed bank or trust company, or by paying 100 percent to the developer backed by an irrevocable bank instrument (stand by letter of credit, bank guarantee or performance guarantee) renewed yearly until the unit is registered. If the developer defaults, the investor has 180 working days to replace the investment, may use a second promise of sale only once, and may not hold status on promises of sale for more than three years in total.Decreto Ejecutivo 17 de 2026, art. 7, 2026-09-08 official text · verified 2026-10-29

6. Securities route: at least B/.500,000 invested through a brokerage licensed by the Superintendencia del Mercado de Valores, held for at least five years, in registered private equity or venture funds, Panamanian government bonds and notes, or other registered corporate securities, funds or REITs. Market falls not caused by the investor do not breach the minimum if the amount is restored within 90 days of the ministry's notice.Decreto Ejecutivo 17 de 2026, art. 8, 2026-09-08 official text · verified 2026-10-29

7. Time deposit route: a five year deposit free of liens of B/.750,000 in a private general licence bank, reduced to B/.500,000 if placed at Banco Nacional de Panamá or Caja de Ahorros, funded by SWIFT transfers from abroad.
Example: B/.750,000 at a private bank or B/.500,000 at Banco Nacional or Caja de Ahorros. / US$750,000 or US$500,000.Decreto Ejecutivo 17 de 2026, art. 9, 2026-09-08 official text · verified 2026-10-29

8. Besides the common requirements of Decreto Ley 3 art. 28 (except its fee and deposit numeral), applicants pay B/.5,000 to the National Treasury and a B/.5,000 repatriation deposit to the Servicio Nacional de Migración, plus B/.1,000 and B/.1,000 per dependent.
Cost to do it: B/.10,000 for the main applicant plus B/.2,000 per dependent, before legal, notarial, appraisal and translation costs.
Example: Applicant, spouse and two children: B/.10,000 + 3 x B/.2,000 = B/.16,000. / US$16,000.Decreto Ejecutivo 17 de 2026, art. 11, 2026-09-08 official text · verified 2026-10-29

9. The investment must be kept for at least five years and proven each year through a lawyer within 30 calendar days before the anniversary of the migration resolution. If it ends early, the resident must notify the ministry within 30 calendar days and has up to 90 calendar days to reinvest, failing which the residence is cancelled.Decreto Ejecutivo 17 de 2026, art. 12, 2026-09-08 official text · verified 2026-10-29

10. Qualified investors and their dependents may apply for naturalization after five consecutive years of residence, under the Constitution. The ministry must issue the investment certification within 15 working days of admitting a complete file, and the Servicio Nacional de Migración must decide within 30 working days; applications may be filed before entering Panama through a special attorney, with biometric registration before any card is issued.Decreto Ejecutivo 17 de 2026, arts. 14, 15 and 16, 2026-09-08 official text · verified 2026-10-29

11. Transition: holders or applicants of permanent residence for own economic solvency may switch to the qualified investor subcategory within 12 months if they meet the new amounts, but investments made before 15 October 2020 are not eligible. Applications filed before the decree took effect keep the previous rules, and investments and binding contracts completed before it may use the previous regime if the application is filed within six months.Decreto Ejecutivo 17 de 2026, arts. 18 and 19, 2026-09-08 official text · verified 2026-10-29

Route	Minimum	Holding and checks
New property (first sale)	B/.300,000 net	5 years; annual proof; possible appraisal
Resale property	B/.500,000 net	5 years; annual proof; possible appraisal
Off plan property (trust or 100 percent paid with bank guarantee)	B/.300,000	Guarantee renewed yearly; status on promises capped at 3 years
Securities through a licensed Panamanian brokerage	B/.500,000	5 years; restore market falls within 90 days of notice
Time deposit at a private bank	B/.750,000	5 years, free of liens
Time deposit at Banco Nacional or Caja de Ahorros	B/.500,000	5 years, free of liens

Qualified investor routes, Decreto Ejecutivo 17 de 2026 (in force 16 September 2026)

Worked example

An investor wires US$350,000 from abroad and buys a new apartment from the developer for B/.350,000 in cash. Net value B/.350,000 exceeds the B/.300,000 first sale minimum. Government payments for the investor and spouse are B/.10,000 + B/.2,000 = B/.12,000 (US$12,000).
Alternatively, a B/.500,000 five year deposit at Banco Nacional de Panamá qualifies, while the same deposit at a private bank would need B/.750,000.

Step by step

Choose the route and structure ownership (personal, company or foundation) so beneficial ownership is documented.
Wire the funds from abroad and keep the SWIFT and bank letters showing the transfer and its use.
File for the Investment Certification with the Ministerio de Comercio e Industrias; cure any defects within 15 working days of notice.
File the migration application within the certification's three month validity at the special window of the Servicio Nacional de Migración, with B/.5,000 plus B/.5,000 and dependents' payments.
Do the biometric registration, receive the card, and diarize the annual proof 30 days before each anniversary for five years.

Common traps

A resale property needs B/.500,000, not B/.300,000; the first sale status is lost once a unit has been sold, leased or occupied by an unrelated third party.
Mortgages reduce the computable value: only net equity counts.
Funds that were already in Panama count only if you can document that they came from an earlier international transfer.
Selling or pledging the investment before five years triggers a 30 day notice duty and a 90 day reinvestment window, then cancellation.
Pre 15 October 2020 investments cannot be used to convert from the economic solvency category.

Sources

← Visiting Panama for business: the 90 day tourist stay, visas for restricted nationalities, the 60 day extension to change status and fines for overstays and unauthorized workFriendly Nations residence in Panama: who qualifies, the job, B/.200,000 property or B/.200,000 deposit tests, the two year provisional permit, and Ecuador added in 2026 →

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