Panama’s Qualified Investor Visa program has been revised with new real‑estate investment thresholds that take effect in September 2026. The changes, introduced by Executive Decree No. 17 (dated 8 September 2026 and published in the Official Gazette No. 30613 on 16 September 2026), differentiate between first‑sale (new‑build) properties and secondary‑market properties.
Revised investment thresholds
| Property type | Minimum qualifying investment |
|---|---|
| First‑sale (new‑build) | US $300,000 |
| Secondary‑market (resale) | US $500,000 |
- A first‑sale property is defined as a new, unoccupied unit transferred directly from the developer, promoter, or their legal successor. Certain corporate or registration transactions do not alter this status.
- A secondary‑market property includes any real estate that has previously been marketed, occupied, rented, or transferred to an unrelated third party.
Valuation and financing rules
- The qualifying net value is the lower of the actual purchase price and a documented commercial appraisal, minus any outstanding liens.
- Financing is permitted, provided that the mortgage or other encumbrance does not reduce the net qualifying value below the applicable threshold ($300 k or $500 k).
- Investments may be held through a company or private interest foundation, including foreign entities, as long as the applicant can prove ownership structure, ultimate beneficial ownership, and effective control. Relevant corporate documents must be legalized or apostilled and translated into Spanish where required.
Source‑of‑funds and verification
- Applicants must demonstrate that the required investment amount has been transferred from abroad.
- The property’s value must be verified through cadastral documentation from Panama’s National Land Authority (ANATI).
- Proper documentation of the transaction, source of funds, and ownership structure is a mandatory part of the visa application.
Residency and pathway to citizenship
- The Qualified Investor Visa grants permanent residence, with the investment required to be maintained for at least five years.
- Since 2025, authorities have announced that investors holding permanent residency may apply for Panamanian citizenship after five years without a continuous physical‑residence requirement, gaining visa‑free access to the Schengen Area and other benefits.
Example of a qualifying investment
- Equity participation in a branded 5‑star hotel (Pullman) in Panama City
- 180‑room hotel located on a prominent street in the El Cangrejo financial district.
- Amenities include a casino, spa, restaurants, and conference facilities.
- Purchase price: US $300,000 (qualifies as a first‑sale investment).
- Developer offers a buy‑back option after five years.
These revisions clarify the capital requirements for investors seeking Panamanian permanent residency through real‑estate investment and outline the documentation and financing conditions that must be satisfied.
Source article: apexcapital.one
