Investor Visa

The regulations establish that any foreigner who invests the minimum amount of B/.300,000.00 or the equivalent amount in US dollars (USD) in fixed-term deposit assets and who can prove that the funds come from abroad may apply for this permit.

This Permit will be valid for two (2) years, after which the applicant may opt for Permanent Residence. To include dependents, an additional investment of B/.2,000.00 per dependent must be made, which can be justified by a local bank reference.

This is the most accessible category of investment for investors. This type of permit is based on the fact that any foreigner who invests the minimum amount of B/.300,000.00 or the equivalent in US dollars (USD) in real estate and can prove that the funds come from abroad can apply for this permit.

This Permit will be valid for two (2) years, after which the applicant may opt for Permanent Residence. To include dependents, an additional investment of B/.2,000.00 per dependent must be made, which can be justified by a local bank reference.

In this case, it is a mixed investment, meaning that if a foreigner invests the minimum amount of B/.300,000.00 or the same amount in US dollars (USD) in real estate or a fixed-term deposit, or a combination of both, and can prove that the funds come from abroad, they will be eligible for this type of permit.

This Permit will be valid for two (2) years, after which the applicant may opt for Permanent Residence. To include dependents, an additional investment of B/.2,000.00 per dependent must be made, which can be justified by a local bank reference.

Citizens of so-called Friendly Nations or Friendly Countries can apply for an Investor Visa, where the amounts to be contributed, either in real estate investment in Panama or in fixed-term deposits, are lower than those required of citizens of other countries around the world.

In this regard, the law establishes the following: “The National Immigration Service may grant a Provisional Residence Permit for a period of two (2) years to those persons who apply for the Permanent Resident subcategory, as foreign nationals from specific countries that maintain friendly, professional, economic, and investment relations with the Republic of Panama.” The law contemplates the following reasons related to investment:

• For reasons of investment in real estate. In this case, nationals or citizens of a Friendly Country may apply for a Provisional Residence Permit as long as they have a Certificate of Public Registration from Panama attesting that they own real estate (i.e., that it is in the personal name of the visa applicant) with a minimum value of B/.200,000.00 or the equivalent in US dollars (USD), which can be financed by a local bank. As we can see, the amount to be invested for citizens of Friendly Countries is B/. 100,000.00 or the equivalent in US dollars (USD), which is lower than for other nationals who are not on the list of Friendly Nations or Countries.

• For reasons of Fixed Term Deposits. Subsequently, Panamanian lawmakers included that any citizen of a Friendly Country could opt for an Investor Visa if they had a certificate from a bank with a general license operating in the national territory, stating the existence of the deposit, its holder, the value, the term, and that it is free of encumbrances, with a minimum term of three years and a value of less than B/.200,000.00 or the equivalent in US dollars (USD). It is important to note that this investment in Panama may be made on a personal basis by the applicant, by a legal entity in which the applicant is the ultimate beneficial owner of the shares, contributions, or membership fees of the company, or by the founder or ultimate beneficiary of a private interest foundation.

The price for applying for a Residence Permit as an investor consists of the following expenses: (notary fees, registration fees, stamps, transaction fees, transportation, certificates, proof of kinship, SNM registration, etc., including processing card, residence card, and multiple-entry visa) and legal fees.

There are different types of investment visas:

Real Estate Investor

The total cost is US$1,733.00. The price breakdown is as follows:

Expenses:

The total cost of expenses for an applicant without dependents is US$383.00. Breakdown below:

• Expenses National Immigration Service fees: US$323.00 (three hundred and twenty-three US dollars).

• Transaction fees: US$60.00 (sixty US dollars).

Legal fees:

The total cost of legal fees for applicants without dependents is US$1,350.00 (one thousand three hundred and fifty US dollars).

The total cost does not include the following payments:

• Check payable to the National Treasury directly by the applicant and each dependent: US$250.00 (two hundred and fifty US dollars).

• Check payable to the National Immigration Service per applicant and dependent: US$800.00 (eight hundred US dollars).

Macro Enterprise Investor

The total cost is US$1,733.00. The breakdown of the price is as follows:

Expenses:

• Transaction fees: US$60.00 (sixty US dollars).

Legal fees:

The total cost of legal fees for applicants without dependents is US$1,350.00 (one thousand three hundred and fifty US dollars).

The total cost does not include the payment of:

• Check payable to the National Treasury directly by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).

• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

Macro Enterprise Investor

The total cost is US$1,733.00. The breakdown of the price is as follows:

Expenses:

• Transaction fees: US$60.00 (sixty US dollars).

Legal fees:

The total cost of legal fees for applicants without dependents is US$1,350.00 (one thousand three hundred and fifty US dollars).

The total cost does not include the payment of:

• Check payable to the National Treasury directly by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).

• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

Mixed investment

The total cost is US$1,733.00. The breakdown of the price is as follows:

Expenses:

• Transaction fees: US$60.00 (sixty US dollars).

Legal fees:

The total cost of legal fees for applicants without dependents is US$1,350.00 (one thousand three hundred and fifty US dollars).

The total cost does not include the payment of:

• Check payable to the National Treasury directly by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).

• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

Investment for opening a fixed-term deposit account

The total cost is US$1,703.00. The breakdown of the price is as follows:

Expenses:

• The total cost of expenses for applicants without dependents is US$353.00. Breakdown below:

• National Immigration Service expenses: US$293.00 (two hundred ninety-three US dollars).

• Transaction expenses: US$60.00 (sixty US dollars).

Legal fees: US$1,350.00 (one thousand three hundred and fifty US dollars).

The total cost of legal fees for applicants without dependents is US$1,350.00 (one thousand three hundred and fifty US dollars).

The total cost does not include the payment of:

• Check payable to the National Treasury directly per applicant and dependent: US$250.00 (two hundred and fifty US dollars).

• Check payable to the National Immigration Service per applicant and dependent: US$800.00 (eight hundred US dollars).

The requirements to apply for an investor visa in Panama are as follows:

1. Power of attorney and application (notarized and with the respective tax stamps)

2. Four (4) passport-size photographs of the applicant

3. Duly certified copy of the applicant's passport.

4. Apostilled criminal record certificate of the applicant.

5. Health certificate issued by a qualified physician in the Republic of Panama.

6. Certified check for US$250.00 payable to the National Treasury; (the client can provide this or we can arrange it – check certification cost US$10.70) – This check must be provided by the account holder.

7. Certified check for B/.800.00 payable to the National Immigration Service. (The client can provide this or we can arrange it – check certification cost US$10.70) – This check must be provided by the holder.

8. Affidavit of Personal Background form. Must be completed and signed by the applicant.

9. Documents to be provided depending on the type of investment:

1. In the case of investment in real estate, you must provide:

   • Certification from the Public Registry proving ownership of the real estate, in the applicant's name, with a minimum value of B/. 300,000.00. The certification must indicate that the property is free of encumbrances.

2. In the case of opening a fixed-term deposit, you must provide:

   • Bank certification that a fixed-term deposit account has been opened in the applicant's name, for the amount of B/.300,000.00 or its equivalent in foreign currency, with a minimum term of three (3) years, at any bank with a general license in the national territory. This fixed-term deposit must be free of encumbrances.

   • Copy of the fixed-term certificate authenticated by the bank.

 10. Two (2) letters of responsibility.

  11. In the case of dependents:

1. 1. Letter of responsibility.

   2. Proof of kinship.

   3. Proof of address.

   4. Those over 18 years of age must present a certificate of single status and certified studies.

To apply for an investor visa in Panama, the application must be submitted by a lawyer to the National Immigration Service of Panama (SNM). Along with the application, the lawyer must attach all the documentation required by the regulations, including checks to the National Treasury and the SNM. 

The amount of money required to obtain residency in Panama through investment depends on several factors. Among these, we can mention the following:

• If the foreigner is a national of a Friendly Country, the law establishes that the applicant may request Provisional Residency for the following reasons:

1. For reasons of investment in real estate. The interested party must submit a certificate from the Public Registry of Panama to prove that they own real estate in their name or in the name of a company of which they are the ultimate beneficiary, provided that said real estate has a minimum value of US$200,000.00. 

2. For reasons of fixed-term deposits. The interested party must submit a certificate from a general license bank operating in the national territory stating the existence of the fixed-term deposit of which they are the holder, with a minimum term of three years and a value of not less than US$ 200,000.00.

• If the foreigner constitutes a macro enterprise, the regulations establish the following:

"Foreigners who wish to invest in a company, whose minimum share capital is B/. 160,000.00 per applicant, being shareholders and officers of the same company. This permit will be valid for two (2) years, after which the applicant may opt for permanent residence. To include dependents, an additional investment of B/. 2,000.00 per dependent must be made, which can be justified by local bank reference." 

• If the foreigner does not hold any nationality within the so-called Friendly Nations, they may make an investment of US$300,000.00. The regulation states:

"Foreigners who invest a minimum of B/. 300,000.00 in real estate and can prove that the funds come from abroad. This permit will be valid for two (2) years, after which the applicant may opt for permanent residence. 

To include dependents, an additional investment of B/. 2,000.00 per dependent must be made, which can be justified by local bank reference."

There are no specific requirements for investing in Panama. The only requirement is that foreigners who wish to purchase real estate must have a valid identity document (passport).  

To invest in Panama as a foreigner, we recommend contacting a specialized company that knows the market and can guide you appropriately internally. At Panama Legal Lab, we have the right partners to guide you through the process.

In addition, as this process involves a series of legal procedures, we provide you with support services for reviewing purchase agreements and the corresponding property registration in the National Public Registry.