What changed on 16 September
| Investment route | Decree 722 of 2020 (until 15 September 2026) | Decree 17 of 2026 (in force) |
|---|---|---|
| New property, first sale | 300,000 dollars | 300,000 dollars |
| Resale property | 300,000 dollars | 500,000 dollars |
| Purchase promise | 300,000 dollars | 300,000 dollars |
| Panama Stock Exchange securities | 500,000 dollars | 500,000 dollars |
| Fixed-term deposit at Banco Nacional or Caja de Ahorros | Did not exist | 500,000 dollars |
| Fixed-term deposit at a private bank | 750,000 dollars | 750,000 dollars |
The substantive change is the distinction between new and resale property: the government wants to steer investment towards construction, which has been shrinking for two years. The qualifying value is the lower of the price paid and the certified market value, net of liens, and funds must come from abroad. Applications already filed are resolved under the previous rules, and anyone who completed their investment before 16 September has six months to opt for the old regime.
What did not change
| Condition | Detail |
|---|---|
| Type of residency | Permanent from the first resolution |
| Resolution time | Investment certification by the Ministry of Commerce within 15 working days; immigration resolution within 30 days with a complete file |
| Holding period | Five years, with annual certification to the Ministry of Commerce |
| Official fees | 5,000 balboas to the National Treasury and 5,000 as repatriation deposit for the main applicant; 1,000 and 1,000 per dependant |
| Dependants | Spouse and children; can be added after the main applicant’s approval |
| Citizenship | Can be applied for after five years of residency |
| Filing | Only through a licensed lawyer |
A parallel development: the special passport
Law 493 of October 2025 created a special passport for qualified investors with permanent residency and their dependants. It does not grant nationality or political rights: it is a Panamanian travel document that eases mobility for those who invested in the country. Its regulations were due within six months.
The programme’s numbers
According to the Ministry of Commerce and Industries, between July 2025 and June 2026, 268 qualified investor certificates were issued for 113.6 million dollars, 39% more than the 193 certificates and 90.1 million of the previous period. 87.3% of the investment was in real estate. In round numbers, each certificate represents about 424,000 dollars of investment, well above the 300,000 minimum, which suggests that many investors were already buying above the threshold the new decree sets for resale property.
The process requires coordinating three entities: the bank or developer documenting the investment, the Ministry of Commerce certifying it and Immigration resolving it. A firm that handles this category for international clients, such as Legal Solutions Panamá, details on its permit page which proof of source of funds and which investment documents are filed at each step.
What nobody has answered yet
- How many qualified investors have sold before the five years? The Ministry of Commerce certifies the holding annually but does not publish how many residencies have been cancelled for breaching it.
- How much of the certified real estate is new housing? 87% is real estate, with no split between first and second sale, precisely the distinction the new decree introduces.
- Is the 30-day deadline met? It is the only regulated resolution time at Immigration and there is no public compliance statistic.
Frequently asked questions
How much must you invest for Panama’s qualified investor visa?
Since 16 September 2026: 300,000 dollars in a new property or purchase promise, 500,000 in a resale property, in Panama Stock Exchange securities or in a state bank fixed-term deposit, or 750,000 in a private bank fixed-term deposit.
Is it permanent residency?
Yes, from the first resolution, with no provisional phase. It is the only category with a regulated resolution time: 30 days with a complete file.
How long must the investment be held?
Five years, with annual certification to the Ministry of Commerce and Industries.
What official fees apply?
5,000 balboas to the National Treasury and 5,000 as a repatriation deposit for the main applicant, plus 1,000 and 1,000 per dependant, in addition to the lawyer’s fees.
Related articles
Sources
- Ministry of Commerce and Industries, new qualified investor decree.
- La Estrella, Panama amends the qualified investor regime.
- Infobae, Panama updates the qualified investor regime.
- Ministry of Commerce and Industries, Executive Decree 722 of 2020.
- EY, Executive Decree 193 of 2024.
- Quijano & Asociados, Law 493 of 2025 on the special passport.
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