What the visa is
The Panama Qualified Investor Visa grants direct permanent residency to foreigners who invest in Panama at set floors. There is no provisional stage and no later upgrade filing.[1][4] Its legal base is Decreto Ejecutivo 722 of October 15, 2020. The decree creates it under the permanent-residency block for economic reasons, as the subcategoría Inversionista Calificado.[1] Two later decrees reset the numbers: Decree 109 of 2022 and Decree 193 of 2024.[2][3] MICI, the trade ministry, checks the asset each year. The SNM, the migration service, issues the permit. Firms market the route as the Panama golden visa. No Panamanian law uses that name.
The flow is small by regional standards. SNM bulletins list 327 approved investor cases in 2025, out of 341 filed. Another 219 came from January to July 2026. The 2026 count runs only to July 31.[14][15] The resident base is far larger. The 2023 census counted 249,201 foreign residents, 6.1 percent of the population, half of them Colombian or Venezuelan.[16]
The three routes
Three investments qualify. Each has its own floor and its own rules.[1]
| Route | Minimum | Core rules |
|---|---|---|
| Real estate | USD 300,000 | Lien-free property. Hold five years. Pre-sales qualify in two forms. |
| Securities | USD 500,000 | Via a Casa de Valores licensed by the SMV. Five-year commitment. |
| Fixed-term deposit | USD 750,000 | Any general-license bank. Five-year minimum term. Lien-free. |
Real estate: USD 300,000, standing law. The property must be free of liens. You may mortgage the part above the paid floor through a local bank.[1][2] The floor began as a 24-month window in the first decree. Decree 109 stretched it to 48 months. Decree 193 then made USD 300,000 the standing rule, with no expiry clause.[1][2][3] MICI’s live page still lists “Inversión Inmobiliaria USD 300,000”.[4]
Securities: USD 500,000. This route covers freely tradable instruments. You buy through a Casa de Valores licensed by the SMV, the securities regulator. The trade runs on the Bolsa de Valores de Panamá. The issuer’s business must operate in Panama. The pledge lasts five years. The 2022 and 2024 decrees left this route untouched.[1][2]
Fixed-term deposit: USD 750,000. The deposit sits at any bank with a general license in Panama. It runs at least five years and must stay lien-free. The bank also certifies the funds came from abroad.[1][2]
Pre-sale contracts qualify in two forms. The first is a licensed escrow, a fideicomiso at a bank or trust firm. The full sum pays out against the purchase terms, with a notarized contract and a trust deed.[1][2] The second, new in 2024, is full prepayment to a developer for unbuilt property. A bank guarantee must cover the whole sum. It renews each year and goes to MICI before each yearly check. You cannot assign your rights without written notice to MICI first. If the sale fails and no substitute appears, the permit is cancelled.[2]
Who may hold it. You can invest in your own name or through a legal entity, as long as you stay the final beneficiary.[1][2] A Panamanian foundation can serve as that entity. The gaceta text, not a firm’s blurb, is the basis to rely on.[6] Since 2024, a spouse or dependent can share title, and MICI can certify that arrangement.[2]
What the filing costs
The decree sets the state payments. The main applicant pays USD 5,000 to the National Treasury. Another USD 5,000 goes to the SNM as a repatriation deposit. Each dependent adds USD 1,000 plus USD 1,000.[1] The official SNM fee table for resident permits has its own line: B/.250.00 for the filing, B/.800.00 for repatriation, and B/.100.00 for the carné.[17] No change to that table was found for 2025 or 2026.
Legal fees sit on top. Diaz & Asociados posts from USD 3,500 for standard cases. ReloFirm posts USD 3,000 for the main applicant, USD 2,000 per dependent, and from USD 400 in extras.[12][13] Kraemer & Kraemer lists a two-payment plan but no figure. The firm warns that complexity, urgency, and translations move the bill.[10] Treat USD 3,000 to 3,500 as the start of the corroborated range, not a quote.
The process and its timeline
Applicants must be 18 or older, with a clean police record and a basic health check.[7][8] The paper list runs longer. It needs an apostilled passport copy, a national police certificate valid six months, a health certificate, five photos, and a personal-backgrounds form.[1][10]
The funds must come from abroad, and the decree names three ways to prove it. One, a bank letter, apostilled or legalized by a Panamanian mission. Two, an authenticated bank statement that shows the transfer. Three, a notarized letter from the funds receiver, or the bank’s own proof of the foreign-account transfer.[1][2][4]
Filings run through a special window, the Ventanilla Especial. The statute orders a decision within 30 business days.[1] MICI restates about thirty business days.[4] Kraemer reports about 30 days in practice.[10] Lincoln Global points to 30 to 60 business days from a complete file. Source-of-funds or bank checks can extend the wait.[7] The decree also lets a special power of attorney file before you enter. Biometrics come before the carné issues.[1]
Keeping the residency
The asset must stay in place five years from grant. MICI checks it each year. If it ends with no reinvestment on decree terms, the permit is cancelled.[1][2] To keep the status, visit Panama at least once every two years. MICI states that rule on its program page. No yearly stay rule applies.[4][7]
Dependents can join you. MICI lists a spouse, children, and parents who qualify.[4] Their state fees are the USD 1,000 plus USD 1,000 above, in age-neutral decree text.[1] Kraemer describes a practice tier by age, with under-12s paying the Treasury fee only. That tier is firm practice, not decree text.[10] The file for a dependent includes an accountability letter, proof of ties, proof of a shared address, and marriage or family certificates. Those over 18 also need single-status and student certificates.[10][13]
The October 15, 2026 deadline story
Advisory firms keep posting a deadline. Uglobal writes that the floor will “revert to US$500,000 on October 15, 2026”. Lincoln Global writes that it “rises from USD 300,000 to USD 500,000 after 15 October 2026”. AbroadMobility hedges that “a higher minimum may apply”.[6][7][8]
No Panamanian instrument says any of that. The gaceta text says the opposite. Decree 193, Article 3.1, covers the foreigner who “invierta la suma mínima desde trescientos mil balboas (B/. 300,000.00)”, as a standing floor. Its Article 5 lists each article it changes. No sunset appears.[2] Kraemer’s Spanish desk, revising its own analysis in April 2026, still reads it the same way: the reduced amount runs “de forma indefinida hasta nuevo aviso”.[9] Nexo checked the gaceta and reported “esa fecha no existe”.[5] A register search on 2026-09-08 found no 2025 or 2026 decree touching the program at all.
Here is the real mechanism behind the rumor. Decreto Ley 3 of 2008, Article 20, orders the executive to review the floors every two years. The next review falls near October 2026.[1][2] A change would need a new decree through that review. None exists. The 2026 visa changes page carries the full receipts and how to watch the gaceta yourself.
What the visa does not get you
Citizenship is separate. Two firms put the clock at five years of continuous residence before a naturalization petition. A three-year path exists for spouses of Panamanian nationals.[10][7] The constitutional text matches. Article 10 of the 2004 Constitution sets naturalization at five consecutive years of residence, three for foreigners with Panamanian family ties, and lists no exception for investors.[20] The research behind this page found no investor fast-track. Treat the residence clock as the rule.
The new special passport is also limited. Ley 493 of October 28, 2025 allows a Pasaporte Especial for investors and their dependents, among others.[19] Its validity tracks the permit term. It does not confer nationality. It does not replace your ordinary passport.[18][19] Icaza adds the practical caution. Most countries still want the origin passport. The special one cannot carry foreign visas, a US tourist visa among them. The executive had six months from the law to issue its rules. That status is unverified.[11]
What to verify with counsel
Five checks before any money moves.
- Confirm the route and its floor against MICI’s live page, not a firm’s brochure.
- For pre-sale, get the escrow or bank-guarantee terms on paper before you pay.
- Ask for the full fee stack in writing: decree payments, carné fees, legal fees, per-dependent fees.
- Check the gaceta for any new decree after the biennial review due near October 2026.
- Mind the validity windows, above all the six-month life of the police certificate.
This page states the law as of September 2026. It is not legal advice. It is not an individual recommendation. Use a qualified Panamanian immigration attorney for an actual filing.
Frequently Asked Questions
How much money do you need for the Panama Qualified Investor Visa?
Three minimums exist as of September 2026. Real estate takes USD 300,000, lien-free. Securities through a licensed Casa de Valores take USD 500,000 with a five-year commitment. A fixed-term bank deposit takes USD 750,000 for at least five years. On top of the investment, the decree charges USD 10,000 in government payments for the main applicant and USD 2,000 per dependent, and the official fee table adds B/.250.00 for the application, B/.800.00 repatriation, and B/.100.00 for the carné. Legal fees are separate and start around USD 3,000 to 3,500.
How much is a golden visa in Panama in 2026?
The Panama golden visa is a marketing name for the Qualified Investor Visa, and the numbers are the legal ones: USD 300,000 in real estate, USD 500,000 in securities, or USD 750,000 on fixed deposit. The real-estate figure is standing law under Decreto 193 of 2024. The October 15, 2026 increase some firms advertise has no decree behind it.
Are Qualified Investor Visa lawyer fees really that high?
The published starting figures are lower than the quotes that circulate in forums. Diaz & Asociados publishes from USD 3,500 for standard cases. ReloFirm publishes USD 3,000 for the main applicant, USD 2,000 per dependent, and from USD 400 in miscellaneous costs. Kraemer & Kraemer publishes a two-payment structure but no figure. These sit apart from the USD 10,000 in decree-level government payments, which no lawyer controls. Complexity, urgency, and translations move the final bill.
What exactly am I buying for USD 300,000, and how do I exit?
You are buying an asset you choose, held under rules the decree sets. The property must be lien-free, stay in your name or a structure you ultimately own, and remain held five years with annual MICI verification. You can sell after the five-year hold without losing permanent residency, which you keep by visiting Panama at least once every two years. If a pre-sale contract fails, the permit is cancelled unless you substitute a qualifying investment. Financing is allowed on the part above the paid USD 300,000 minimum.
How easy is it to get residency in Panama?
It depends on the route. The Qualified Investor route is the fastest documented path to permanent residency: the statute orders resolution within 30 business days, practice runs about 30 to 60, and there is no provisional stage. That speed is bought with capital. The Friendly Nations route costs far less but runs through a two-year provisional period first, and the pensionado route needs a lifetime pension of B/.1,000 a month.
Can I retire in Panama as a US citizen?
Yes, and most US retirees do not use the investor route. The pensionado program fits a retired US citizen with a Social Security or private pension of at least B/.1,000 a month for life, plus B/.250 per dependent, and it grants permanent residency directly. The Qualified Investor Visa suits retirees who are buying property worth USD 300,000 or more and want the investment route instead. The pensionado page on this site covers the retiree path in detail.
Which country has the easiest golden visa?
This page does not rank countries, because its research covers Panama only. For Panama itself, the entry points are fixed by law: USD 300,000 in real estate, USD 500,000 in securities, or USD 750,000 on deposit, with permanent residency granted directly and a statutory 30-business-day window. Comparing countries honestly requires current figures for each program, which is outside the research behind this page.
Is Panama a tax haven for US citizens?
Residency status and tax status are different things, and this page covers only residency. A US citizen becomes a Panamanian tax resident only by meeting Panama's own tax-residency tests, and US citizens remain taxable to the United States regardless of where they live. The tax question deserves its own research and a qualified tax advisor. No tax advice appears on this page.
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