Updated 10 March 2026

19 February 2025 • Panama set a record for investor visa approvals in 2024 • Source

15 October 2024 • The minimum investment for real estate was lowered from $500,000 to $300,000 • Source

Changes are monitored by

Panama Golden Visa

Investors obtain permanent residence in Panama by investment to live, conduct business, and benefit from a USD-based economy with a pathway to citizenship.

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$300,000+

Minimal investment

2 to 4 months

Obtaining period

3 options

For investors

5 years

Time to citizenship

Panama offers permanent residence through the Qualified Investor Programme, introduced by Executive Decree No. 722 of 15 October 2020.

The programme established an immigration category allowing foreign nationals to obtain permanent residency by meeting investment thresholds.

Applicants may qualify through three routes: real estate from $300,000, securities from $500,000, or a fixed-term bank deposit from $750,000.

The investment must originate from abroad and be maintained for at least five years, after which residents may apply for citizenship, subject to legal requirements.

Benefits
Requirements
Investment Options
Documents
Process
FAQ
Articles and news

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7 benefits of Panama permanent residency

Immediate permanent status

Successful applicants receive permanent residence upon approval, subject to maintaining the qualifying investment for at least five years.

Pathway to citizenship

After five years of holding permanent residency, applicants may become eligible to apply for Panamanian citizenship, subject to statutory requirements.

USD-based economy

Panama operates a fully dollarised economy, eliminating foreign exchange risk for investors holding capital in US dollars.

Territorial tax system

Panama generally taxes only income sourced within the country, which can be advantageous for internationally structured businesses.

Flexible real estate strategy

Investments may be held personally or through a legal entity where the applicant is the ultimate beneficial owner.

Limited physical presence requirements

The programme can support a «Plan B» strategy without requiring immediate relocation.

Family inclusion

Permanent residency can be extended to a spouse, dependent children, and qualifying parents, allowing the entire family to obtain status under one application.

Requirements to apply for Panama residency by investment

Main Applicant

Aged over 18
No criminal record
In good health
Proof of financial solvency:
$5,000 for the main applicant,
$2,000 per dependant

Spouse

Legally married partner
Same-sex spouses are eligible

Children under 18

Children over 18

Unmarried
Financially dependent on the investor
Enrolled in full-time studies with proof required

Parents

Financially dependent on the investor

Investment options for obtaining Panama permanent residency

Option	Details	Additional costs
Purchase of real estate — $300,000+	The investor may purchase residential or commercial property in Panama with a minimum value of $300,000. The property must be registered in the Public Registry, free of liens, and funded with capital originating from abroad. The qualifying amount must remain unencumbered for at least 5 years. Investment may be held personally or through a legal entity where the applicant is the ultimate beneficial owner.	$5,000+ National Migration fee $5,000+ National Treasury fee $1,240+ administrative fee $6,000+ Due Diligence, registry and notary fees $2,000+ document legalisation $200 E-cédula issuance $60 Health certificate per applicant
Investment in securities — $500,000+	The applicant invests at least $500,000 in securities through a licensed Panamanian brokerage firm. The investment must be maintained for a minimum of 5 years, with official confirmation from the financial intermediary. Funds must originate from abroad.	Same as in the option of purchasing real estate
Fixed-term bank deposit — $750,000+	The investor places a fixed-term deposit of at least $750,000 in a Panamanian bank. The deposit must be locked for 5 years and confirmed by an official bank certificate stating the origin of funds and absence of encumbrances. Early withdrawal may affect residency status.	Same as in the option of purchasing real estate

Option

Details

Additional costs

Purchase of real estate — $300,000+

The investor may purchase residential or commercial property in Panama with a minimum value of $300,000.

The property must be registered in the Public Registry, free of liens, and funded with capital originating from abroad. The qualifying amount must remain unencumbered for at least 5 years.

Investment may be held personally or through a legal entity where the applicant is the ultimate beneficial owner.

$5,000+ National Migration fee

$5,000+ National Treasury fee

$1,240+ administrative fee

$6,000+ Due Diligence, registry and notary fees

$2,000+ document legalisation

$200 E-cédula issuance

$60 Health certificate per applicant

Investment in securities — $500,000+

The applicant invests at least $500,000 in securities through a licensed Panamanian brokerage firm.

The investment must be maintained for a minimum of 5 years, with official confirmation from the financial intermediary. Funds must originate from abroad.

Same as in the option of purchasing real estate

Fixed-term bank deposit — $750,000+

The investor places a fixed-term deposit of at least $750,000 in a Panamanian bank. The deposit must be locked for 5 years and confirmed by an official bank certificate stating the origin of funds and absence of encumbrances.

Early withdrawal may affect residency status.

Same as in the option of purchasing real estate

Option Purchase of real estate — $300,000+

Details

The investor may purchase residential or commercial property in Panama with a minimum value of $300,000.

The property must be registered in the Public Registry, free of liens, and funded with capital originating from abroad. The qualifying amount must remain unencumbered for at least 5 years.

Investment may be held personally or through a legal entity where the applicant is the ultimate beneficial owner.

Additional costs

$5,000+ National Migration fee

$5,000+ National Treasury fee

$1,240+ administrative fee

$6,000+ Due Diligence, registry and notary fees

$2,000+ document legalisation

$200 E-cédula issuance

$60 Health certificate per applicant

Option Investment in securities — $500,000+

Details

The applicant invests at least $500,000 in securities through a licensed Panamanian brokerage firm.

The investment must be maintained for a minimum of 5 years, with official confirmation from the financial intermediary. Funds must originate from abroad.

Additional costs

Same as in the option of purchasing real estate

Option Fixed-term bank deposit — $750,000+

Details

The investor places a fixed-term deposit of at least $750,000 in a Panamanian bank. The deposit must be locked for 5 years and confirmed by an official bank certificate stating the origin of funds and absence of encumbrances.

Early withdrawal may affect residency status.

Additional costs

Same as in the option of purchasing real estate

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Help with the choice

Passportivity experts will analyse your situation and offer the most suitable solution.

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Key documents to apply for Panama residency by investment

All foreign documents must be legalised or apostilled.

Valid passport
Police clearance certificate
Medical certificate
Proof of source of funds
Investment documentation
Proof of financial solvency

How to obtain Panama permanent residency: step‑by‑step process

1.

Preliminary Due Diligence

A confidential background screening is conducted to assess the applicant’s eligibility and potential compliance risks. This preliminary review helps identify any issues related to source of funds, sanctions exposure, or reputational concerns before the formal process begins.

Upon successful completion, a service agreement is signed and the case moves forward.

2.

Preparation of documents

The applicant collects the required documents, including a police clearance certificate, medical certificate, proof of source of funds, bank statements, and civil status documents.

Foreign documents must be notarised and apostilled or legalised. Legal advisors review the file to ensure it complies with Panamanian immigration requirements before submission.

3.

Investment

The applicant fulfils one of the qualifying investment options: real estate purchase, securities investment, or fixed-term bank deposit.

Funds must originate from abroad and be properly documented. For real estate, this stage includes property selection, legal checks, contract signing, and registration in the Public Registry. For financial investments, official confirmation from the bank or brokerage is required.

4.

Application submission and initial approval

Once the investment is completed and the file is finalised, the application is submitted to the National Migration Directorate along with government fees. Authorities review the documentation and conduct official compliance checks.

Applicants typically receive initial approval and provisional status within 30—90 days, after that the case proceeds to permanent residency issuance.

5.

Issuance of permanent residence card — E-cédula🔥

After approval, the applicant must travel to Panama to complete biometric registration and final formalities. The permanent residence ID card (E-cédula) is issued following this in-person visit.

Personal attendance at this final stage is mandatory to obtain the official residence identification document.

Why choose us

1

Reliable partner

Passportivity operates in accordance with the framework of legal conditions, including Decreto Ejecutivo No. 722 of 15 October 2020.

2

Deep Expertise

11+ years in investment immigration and financial matters to solve the most complex client challenges.

3

Individual Approach

We develop step-by-step plans, taking into account client requirements, to achieve optimal results.

4

Support at every stage

From the first consultation and even after receiving the desired document, we provide legal support.

5

Additional services

Get a tax number, sign a rental agreement or apostille additional documents — we will fulfill any request.

6

Flexible communication and 24/7 availability

Meet us in person or online, whatever suits you best.

We respond to inquiries within two hours. Your case is handled by a dedicated lawyer who is always in touch.

From idea to residence permit with expert support

For over 10 years, we've been helping clients navigate the path to citizenship and residency. Our approach combines in-depth knowledge of international law with a practical understanding of local bureaucratic systems. Every case is handled with a bespoke strategy, refined to the last detail.

Elena Garnitsarik

Head of the Legal Department

Stepan Makarov

Lawyer in International Law

Yulia Malloy

Head of the Investment Department

Personal meeting

Frequently asked questions

How do I obtain permanent residence in Panama?

Choose an investment option, complete Due Diligence, make the qualifying investment, submit the application, and attend the final stage in Panama.

How long does it take to obtain residence in Panama?

The process typically takes 2 to 4 months, depending on the investment option and the speed of document preparation. Initial approval is usually granted within 30—90 days after application submission. The permanent residence card (E-cédula) is issued after final approval and completion of the in-person formalities in Panama.

Can Russian nationals apply in 2026?

Yes, Russian nationals may apply, provided they meet compliance requirements and demonstrate a lawful source of funds. The programme does not impose nationality-based restrictions, but all applicants undergo Due Diligence checks.

What is the difference between temporary residence, permanent residence, and citizenship in Panama?

Temporary residence allows limited-term stay in Panama under specific grounds. Permanent residence (granted under the investor programme) provides long-term residency rights. Citizenship is the next step and may be requested after five years of residence, subject to statutory requirements and government approval.

Can I obtain Panama residence remotely without visiting the country?

Most stages of the process can be completed remotely. However, personal attendance in Panama is required at the final stage to complete biometric registration and obtain the residence ID card (E-cédula).

Does Panama tax foreign income?

Panama generally applies a territorial taxation system. This means that, as a rule, only income generated within Panama is subject to local taxation. Foreign-sourced income is typically not taxed in Panama, which can be advantageous for internationally structured businesses and globally diversified investors.

Will I automatically become a tax resident of Panama after obtaining residence?

No, obtaining residence does not automatically result in tax residency. Tax status is determined separately and depends on physical presence and economic ties to Panama.