Panama now has two real estate thresholds for its Qualified Investor permanent residency program: US$300,000 for a qualifying first sale of new, unoccupied property and US$500,000 for a resale. Executive Decree No. 17, published in the Official Gazette on September 16, also sets a US$500,000 securities minimum, a US$750,000 private-bank fixed-deposit minimum, and a US$500,000 fixed-deposit option at two named state banks. The lower property threshold remains, but buyers must prove the property is genuinely a first sale.
This is a material change for anyone shopping Panama City’s resale inventory. A US$300,000 apartment that would have fit the previous property rule may no longer support a new Qualified Investor application. The distinction turns on the property’s transaction history and occupancy, not on whether it looks newly renovated or is advertised as “new.”
See our Panama Qualified Investor Visa service for help evaluating an investment and preparing the residency application.
The new investment thresholds at a glance
| Route | Minimum investment | Key condition |
|---|---|---|
| New, unoccupied first-sale property | US$300,000 | Initial qualifying transfer by the developer, promoter, or successor |
| Secondary-market property | US$500,000 | Previously sold, occupied, leased, or transferred to an unrelated party |
| Eligible Panamanian securities | US$500,000 | Investment through a licensed brokerage in eligible instruments |
| Fixed deposit at a private bank | US$750,000 | Private bank with a general license |
| Fixed deposit at a state bank | US$500,000 | Directly and exclusively at Banco Nacional de Panamá or Caja de Ahorros |
These are investment minimums, not MyLatinLife service fees or a total application budget. Transaction, legal, immigration, and banking costs require separate planning. The decree replaces Executive Decree No. 722 of 2020 and its amendments; its transition provisions matter if a purchase or application was already underway.
What counts as a US$300,000 first-sale property?
The lower tier applies to the initial acquisition of a new and unoccupied property transferred by its developer, promoter, or successor. A resale, prior lease, prior occupation, or transfer to an unrelated third party can put a property in the US$500,000 category. A corporate restructuring or a subdivision does not automatically destroy first-sale status, but the ownership history still needs documentary review. Marketing language alone is not proof.
Before signing, ask for the Public Registry history, developer documents, and evidence of whether the unit has been occupied or leased. The Ministry of Commerce and Industries (MICI) can examine the substance of a transaction and disregard arrangements designed to evade the threshold. For a buyer near US$300,000, uncertainty about first-sale status is a major eligibility risk, not a minor paperwork issue.
The amount that counts is also more precise than the headline price. Under Article 5, the qualifying net value is based on the lower of the price actually paid and the reasonably supported commercial value, less outstanding liens on the property. Financing above the qualifying minimum can be possible if documented, but a mortgage or other lien cannot reduce the net eligible value below the applicable floor. MICI may require an independent appraisal where the cadastral value or other objective evidence raises reasonable doubt about market value. A contract price of US$500,000 does not cure a US$480,000 supportable valuation for a resale property.
Pre-construction still qualifies, with tighter safeguards
A qualifying promise of sale can support the US$300,000 route before the finished property is registered. The decree describes two structures: funds held in a trust with a Panama-licensed bank or trust company, or full payment to the developer backed by an irrevocable, unconditional bank instrument payable on first demand. The latter must protect at least the amount invested until construction, subdivision, and registration in the investor’s name are completed.
That protection does not make an off-plan purchase risk-free. If the developer fails to complete the transaction by the agreed deadline, the investor has a special 180-business-day window to replace the investment. Another promise-of-sale contract may be used only once; after a second failure, the replacement must be an already completed direct investment. Residency based solely on promise-of-sale contracts cannot exceed three years in total. Buyers should review the construction timetable, guarantee, trust terms, and title plan before relying on the property for immigration status.
Securities and bank deposits
The securities route requires at least US$500,000 through a brokerage licensed by Panama’s securities regulator. The new decree specifies eligible classes, including certain registered investment funds focused on productive activity in Panama, Panamanian government debt, and other qualifying registered securities. An ordinary brokerage account or any security bought abroad does not automatically qualify. The capital must remain invested for five years. Market losses outside the investor’s control do not alone create a breach, but the decree includes conditions and a 90-calendar-day cure period after MICI notice.
The fixed-deposit routes now have different thresholds by bank type. A private bank with the required general license needs US$750,000. A deposit placed directly and exclusively at Banco Nacional de Panamá or Caja de Ahorros can qualify at US$500,000. Both require a five-year term and restrictions on pledges or liens. The lower state-bank figure is specific to those institutions; it is not a general US$500,000 deposit rule for all Panamanian banks.
Source of funds and the five-year obligation
Applicants must show that the invested money is their own and document its traceable foreign origin. The decree excludes gifts and other gratuitous transfers from third parties from the qualifying minimum. Money already in a Panama account may count if records trace it back to a prior international transfer. Bank transfer records, ownership documents, and the investment’s beneficial-owner structure should therefore be reviewed before funds move.
Residency approval does not end the investment obligation. The qualifying asset must generally be maintained for five years, and the resident’s legal representative must submit annual proof to MICI in the 30 calendar days before each anniversary of the immigration resolution. If the investment is sold, replaced, or otherwise ceases, MICI must be notified within 30 calendar days. The decree then allows up to 90 calendar days to document an eligible replacement. Missing the replacement window can put the residence permit at risk.
Dependents, citizenship, and existing deals
The decree allows a resident in good standing to add a spouse from a later civil marriage or a new child by birth or adoption after approval. It specifies government payments of US$1,000 to the National Treasury and US$1,000 to the National Migration Service for each such addition. These are government charges for this later-addition procedure, not MyLatinLife fees. The resident must also document the family relationship and the continuing investment.
After five consecutive years of residence in Panama, an investor or dependent may apply for naturalization through MICI’s investment window. This is an application route, not automatic citizenship. The decree does not resolve every physical-presence question for citizenship, so an investor who intends to naturalize should get case-specific advice rather than assume that keeping an investment alone is enough.
There is an important transition rule. Applications submitted before the decree took effect remain subject to the amounts and conditions in force when filed. A qualifying investment or binding contract completed before the effective date may also use the earlier rules if the residency application is filed within six months. Anyone with a signed US$300,000 resale contract should have counsel check the contract date, whether it is binding, and the filing deadline promptly. A future purchase cannot rely on that grandfathering simply because negotiations started earlier.
What to do before committing capital
- Confirm the exact investment route and threshold before making a deposit.
- For property, check title history, occupancy, paid price, liens, and supportable value.
- For off-plan property, review the trust or bank guarantee and the developer’s completion dates.
- Prepare the source-of-funds trail before wiring money, especially where an entity owns the asset.
- Budget for annual verification and a five-year holding period, including a plan if the investment must be replaced.
The practical question is no longer simply whether a property costs US$300,000. It is whether the particular asset and payment trail satisfy the decree’s category and net-value tests. Our Panama Qualified Investor Visa service page explains how MyLatinLife can help coordinate the eligibility review and application. You can also book a consultation before committing to an investment.
Sources: Executive Decree No. 17 in Panama’s Official Gazette; IMI Daily’s report on the decree. The official decree controls if a summary differs.
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Frequently Asked Questions
What is Panama’s Qualified Investor route?
It is a permanent-residence route based on a qualifying investment that meets the current legal amount, holding period, funding, and documentation rules.
Does buying any Panama property qualify?
No. The investment and source-of-funds file must satisfy the program’s current requirements; an ordinary property purchase is not automatically sufficient.
