Panama’s Qualified Investor Visa, widely known as the Golden Visa, is one of the fastest residency by investment routes in the americas. It grants foreign investors permanent residency from day one, with no temporary stage and no obligation to relocate.
Established by Executive Decree 722 of 2020 and refined by later regulations, the program lets qualifying investors and their families live, work, and study in Panama while keeping their main life abroad. After five years of permanent residency, investors may apply for Panamanian citizenship.
Highlights of Panamanian citizenship by investment
| Program Type | Qualified Investor Permanent Residency |
| Residency granted | Permanent, from day one, with no temporary stage |
| Minimum investment: | USD 300,000 through the real estate route, until 15 October 2026 |
| Investment options: | Real estate, Panama Stock Exchange securities, or a fixed-term bank deposit |
| Processing time | 30 to 45 business days after filing, and often longer in practice |
| Physical presence | One visit to Panama every two years |
| Path to citizenship | Eligible after 5 years of permanent residency |
| Government fees | USD 10,000 for the main applicant |
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What is the Panama Golden Visa?
The Golden Visa is Panama’s premier residency by investment route. Unlike programs that require years of temporary status, it grants permanent residency immediately once the qualifying investment is made and due diligence is passed. There is no minimum stay requirement to live in the country, which makes it especially attractive to internationally mobile investors who want a stable base without full-time relocation. The program is regulated by Panamanian law and is designed to attract foreign capital into the national economy.
Important 2026 update: the USD 300,000 window
The real estate route currently qualifies from USD 300,000, but this threshold is scheduled to end on 15 October 2026. After that date, the minimum real estate investment is set to rise permanently to USD 500,000. Investors considering the property route may benefit from acting while the lower threshold is still available. As with any residency by investment program, thresholds and rules can be modified by future decrees, so timing matters.
Investment options
There are three qualifying routes, and each investment must be held for a minimum of five years.
Real estate: Purchase residential or commercial property in Panama, free of liens, for at least USD 300,000. Pre-construction and pre-sale projects qualify. The property may be rented out, and any amount above the minimum may be financed through a local mortgage. Spouses may co-own a single qualifying property, each contributing at least USD 150,000.
Panama Stock Exchange securities: Invest at least USD 500,000 in securities through a licensed Panamanian brokerage firm.
Fixed-term bank deposit: Place at least USD 750,000 in a time deposit with a licensed Panamanian bank for five years. Interest earned on local deposits is exempt from Panamanian income tax.
Source of funds requirement
This is a non-negotiable condition: the investment capital must originate outside Panama. Applicants must document the lawful origin of funds, often covering several years of wealth accumulation, and pass anti-money laundering and due diligence checks. Funds are typically transferred by international bank transfer, and some structures now accept verified crypto transfers such as USDT, USDC, or BTC. Clear documentation of the source of funds becomes a central part of the residency file.
Government fees and costs
- Main applicant: USD 5,000 to the National Immigration Service and USD 5,000 to the National Treasury, for a total of USD 10,000. Dependents age 12 and over: USD 1,000 each to the National Immigration Service and USD 1,000 each to the National Treasury. Dependents under 12: USD 1,000 each to the National Treasury.
- These government fees are separate from the qualifying investment, legal fees, and document costs such as translation, apostille, and notarization.
To apply for Permanent Residence, the aforementioned requirements must be provided, excluding the Criminal Record Certificate and the verifications.
Who you can include?
The main applicant may include qualifying dependents under a single application:
- Spouse
- Unmarried children under 25 who are financially dependent and enrolled in full-time education
- Dependent parents
- Dependent parents-in-law
Documents you will need
- Apostilled or authenticated full passport copy
- Apostilled national criminal background certificate, valid within the last 6 months
- Passport-size photographs
- Notarized special power of attorney authorizing an attorney to file on your behalf
- Sworn declaration of personal history
- Proof of the qualifying investment, such as a title deed, brokerage certificate, or bank deposit certificate, free of liens
- Evidence of the lawful, foreign origin of the invested funds
- Proof of payment of government fees
For dependents: proof of relationship such as marriage or birth certificates, and for dependents over 18, proof of single status and educational enrollment where applicable. All foreign documents must be translated into Spanish by an authorized translator.
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The application process step by step
- Choose your investment route and structure it with your attorney.
- Gather, translate, and apostille or authenticate your documents.
- Transfer the qualifying funds from abroad and complete the investment.
- Your attorney files the application with the National Immigration Service using a power of attorney.
- Complete biometrics and issuance of your resident card.
- Receive permanent residency approval.
You do not need to be in Panama to start the process. Applications can be filed while you are abroad through your legal representative.
Maintaining your residency
Permanent residents must visit Panama at least once every two years to keep their status. In addition, the qualifying investment must be maintained for a minimum of five years, and its validity must be confirmed with the authorities each year. Early sale, withdrawal, or encumbrance of the investment without approval can lead to cancellation of residency. After five years, the investment may be sold or reinvested, subject to the applicable rules.
Path to Panamanian citizenship
After five years of continuous permanent residency, investors and their qualifying dependents may apply for citizenship by naturalization. The process includes an interview before the Electoral Tribunal that assesses Spanish proficiency and knowledge of Panama’s history, geography, and civics. Naturalization is ultimately approved and signed by the President of Panama. Nationals of certain Spanish-speaking countries may benefit from shorter timelines under reciprocity arrangements. Panama does not formally recognize dual citizenship, though in practice it does not require new citizens to prove renunciation of their prior nationality.
The qualified investor travel document
Under Law 493 of 2025, qualified investors and their included dependents may obtain a special travel document alongside permanent residency. This document supports international mobility, but it is not a passport and does not grant citizenship. A Panamanian passport, with its broader visa-free access, becomes available only after naturalization.
Tax overview for Golden Visa holders
Panama uses a territorial tax system: only income sourced within Panama is taxed, and foreign-source income is generally exempt, even when brought into the country. Key points to understand:
- Foreign dividends, interest, capital gains, and business income earned abroad are generally not taxed in Panama.
- Panama has no wealth, inheritance, gift, or estate tax.
- Interest on local bank deposits is exempt from income tax.
- Local-source income is taxed progressively: 0% up to USD 11,000, 15% from USD 11,000 to USD 50,000, and 25% above USD 50,000.
- Panama has a limited double taxation treaty network of around 17 treaties. There is no income tax treaty with the United States, so US citizens remain subject to worldwide taxation and reporting obligations, including FBAR and FATCA, regardless of residency.
Tax outcomes depend heavily on your home country rules. Always obtain personalized advice from a licensed tax adviser before investing.
Benefits of the Panama Golden Visa
- Permanent residency from day one, with no temporary stage
- Minimal physical presence, requiring only one visit every two years
- A clear path to citizenship after five years
- Territorial taxation with no tax on foreign-source income
- A fully dollarized economy, which removes currency risk
- Family inclusion under a single application
- A strategic hub location connecting North, Central, and South America
- Investment options backed by real assets, securities, or cash deposits
Golden Visa compared with other Panama residency routes
Qualified Investor, the Golden Visa: Permanent residency from day one, from USD 300,000, open to all nationalities.
Friendly Nations Visa: For nationals of designated countries, from around USD 200,000, typically with a two-year provisional stage before permanent residency.
Pensionado, the Retiree Visa: For retirees with a qualifying lifetime pension from around USD 1,000 per month, granting permanent residency and discount benefits.
Digital Nomad Visa: A short-term route for remote workers and online entrepreneurs. Reforestation Visa: Residency through investment in approved reforestation projects.
Living in Panama
Panama pairs a modern capital with a low cost of living relative to North America and Europe. Panama City offers international banking, private healthcare, and strong connectivity, while highland towns such as Boquete and coastal areas such as the Pacific beaches attract residents who want a slower pace or a nature-focused lifestyle. The US dollar is legal tender, private healthcare is well regarded and affordable, and the country is considered politically stable by regional standards.
Who the Golden Visa suits
- Internationally mobile investors seeking a flexible second residency
- Entrepreneurs and business owners with foreign-source income
- Families planning for education and opportunity across the Americas
- High-net-worth individuals seeking asset and jurisdictional diversification
- Anyone who wants a stable plan B without full-time relocation
Start your Panama Golden Visa application
Our team guides investors through every stage, from choosing the right investment route to preparing documents and securing permanent residency. Contact us to review your situation and confirm current requirements.
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