On October 16, 2020, Decree 722 of October 15, 2020 was published, which creates the category of Permanent Resident as a Qualified Investor.
To demonstrate the investment, the applicant must make an investment for a minimum of US $ 500,000.00 from a foreign source, personally or through a legal entity, provided that the applicant is the final beneficiary.
Types of investment:
- By investment in property title. The first US $ 500,000.00 must be free of debt. The amount above US$500,000.00 may be financed through a mortgage loan with a local bank.
- For investment in property through a contract of promise of sale for the sum of US $ 500,000.00 by means of a trust deposit in a bank or local trustee.
- By investment through a local brokerage firm in securities of local issuers of the Panama Stock Exchange. This investment must be agreed for at least 5 years for a minimum of US $ 500,000.00.
- For investment in a fixed term deposit in a local bank for the sum of US $ 750,000.00 and for a term of 5 years, free of encumbrances.
To maintain permanent residence, the investment must be maintained for a minimum period of 5 years.
In order to offer a more simplified and agile service to the investor, a “Fast Track” is created. Applications under this category may be submitted prior to entering Panama through a local lawyer, on the condition that prior to the issuance of the immigration card, the filiation process is completed. This request must be resolved in a period of no more than 30 business days. After this period, the applicant will only need to visit Panama a week to obtain the Permanent Residence.
Another interesting aspect is that during the first 24 months from the launch of this new program, the investment in property may be only for US $ 300,000.00 and those applications received in 2020 may be changed to the Qualified Investor category, upon request.