Investor visa in Panama

• The route is for a foreigner who invests their own funds from a foreign source, personally or through a legal entity of which they are the final beneficial owner. Gifts, donations and other free transfers from third parties do not count toward the minimum.
• Decree 17 of 8 September 2026 came into force on publication on 16 September 2026 and replaces Decree 722 of 2020. Migración's site still carries older own-solvency checklists showing the earlier property and deposit minimums; we did not compare them with the new decree.
• Nationals of the United States, Canada, Australia and New Zealand have a second, lighter route: friendly-nations provisional residence on the basis of property or a fixed deposit of about B/.200,000, with permanent residence after two years.

Sources: Gaceta Oficial Digital No. 30613, Servicio Nacional de Migración de Panamá (official), Gaceta Oficial Digital No. 29335, Gaceta Oficial Digital No. 30601-B. Checked 17 October 2026.

• Property: about B/.300,000 for a first-sale (new, unoccupied) property, or about B/.500,000 for a resale property. To be safe, have more than B/.310,000 or B/.510,000. The value counted is the lower of the price paid and the commercial value, less any liens, and any excess over the minimum can be financed.
• Securities: about B/.500,000 through a licensed Panamanian securities house, kept for five years without interruption. To be safe, have more than B/.510,000. Market falls alone do not breach the minimum if you restore it within 90 days of notice.
• Fixed deposit: about B/.750,000 in a private bank, or about B/.500,000 in Banco Nacional de Panamá or Caja de Ahorros, free of liens for five years. To be safe, have more than B/.760,000 or B/.510,000. The funds must arrive from abroad by international transfer.
• An off-plan property can qualify at about B/.300,000 through a trust deposit or a full payment to the developer backed by a bank guarantee, but status resting only on a promise of sale lasts no more than three years in total. To be safe, have more than B/.310,000.

Sources: Gaceta Oficial Digital No. 30613. Checked 17 October 2026.

• The Ministry of Commerce and Industries (MICI) issues an Investment Certification, valid for three months, that must still be valid when the file reaches Migración.
• You prove the foreign source with a letter from the foreign or local bank (apostilled or legalised if issued abroad), a bank statement with authentication seals, or a notarised letter from the recipient plus a bank certification. A company or foundation holding the investment must document its ownership, final beneficial owner and control.
• Property needs a Public Registry certificate, proof that it is new where that matters, and a cadastral certificate from ANATI; a private appraisal, at your cost and dated within six months, can be required if value is in doubt.
• Securities need a certificate from the licensed securities house; a deposit needs an original bank certification and an authenticated copy of the deposit certificate.

Sources: Gaceta Oficial Digital No. 30613. Checked 17 October 2026.

• MICI has 15 business days from admission to issue the certification, and Migración then has 30 business days from a complete file to resolve. If the file is incomplete you have 15 business days to fix it or it is filed away.
• You can file before entering Panama through a special attorney, but you must complete biometric registration and enter the foreigners' register before receiving any card. A special one-stop desk handles these files.

Sources: Gaceta Oficial Digital No. 30613. Checked 17 October 2026.

• The government fees are B/.5,000 to the Tesoro Nacional for the application and a B/.5,000 repatriation deposit to Migración, both filed with the application.
• Each dependant's application fee is B/.1,000, with a second B/.1,000 for repatriation, and a spouse or child added after approval pays the same.
• The friendly-nations route has certified cheques of B/.250 and B/.800 as its government fees.

Sources: Gaceta Oficial Digital No. 30613, Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026.

• The permit is permanent residence from the start, but the investment must be kept for at least five years, proved each year through a lawyer within 30 calendar days before the anniversary of the migration resolution. If it ends early, you must tell MICI within 30 calendar days and have 90 calendar days to reinvest, or the residence is cancelled.

Sources: Gaceta Oficial Digital No. 30613. Checked 17 October 2026.

• Permanent residence comes with the grant. After five consecutive years of residence, holders and their dependants can apply for naturalisation, with MICI certifying that the investment is still in place; the naturalisation checklist asks for a renunciation of the previous nationality.
• Panama's list of reciprocity countries, which shortens the years of residence for naturalisation, does not include the United States, Canada, Australia or New Zealand.

Sources: Gaceta Oficial Digital No. 30613, Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026.

• Panama's income-tax return instructions subtract income of foreign source, the basis for calling its system territorial. You are tax resident after more than 183 days of presence in the current or preceding fiscal year, or with a permanent home and a centre of vital interests; a residence permit alone does not make you resident.

Sources: Dirección General de Ingresos. Checked 15 October 2026.

• Digital nomad visa in Panama
• Retirement visa in Panama
• Work permit in Panama
• Family visa in Panama

• Visas in Panama
• Panama

1. Executive Decree 226 of 20 July 2021: permanent residence for nationals of specific friendly countries (job, B/.200,000 property or B/.200,000 deposit), Gaceta Oficial Digital No. 29335, 21 July 2021, as published by Servicio Nacional de Migración (official). Checked 15 October 2026. Scanned Gaceta pages, read from page images. Article 1 lists Australia, Canada, the United States and New Zealand among the eligible nationalities; the new article 3 sets the two-year provisional phase and the three bases (job with a MITRADEL work permit, property of at least B/.200,000, fixed deposit of at least B/.200,000 for three years). Also cited for the property value of at least B/.200,000 (which may be bank-financed) and the deposit of at least B/.200,000 held free of liens for at least three years.
2. Report of Foreign Bank and Financial Accounts (FBAR), Financial Crimes Enforcement Network (FinCEN). Checked 15 October 2026.
3. US citizens and residents abroad: filing requirements, Internal Revenue Service. Checked 15 October 2026.
4. Treasury: US-Panama Tax Information Exchange Agreement now in effect, US Department of the Treasury. Checked 15 October 2026. Agreement signed 30 November 2010 and in force from 2011; it covers exchange of information on request, not a tax treaty.
5. United States income tax treaties, A to Z, Internal Revenue Service. Checked 15 October 2026. Panama is not listed.
6. Entry into force of the tax information exchange agreement between Canada and Panama, Department of Finance Canada (official). Checked 15 October 2026. Notice of 6 December 2013: the agreement was signed on 17 March 2013 and entered into force on 6 December 2013. An information exchange agreement, not a tax treaty.
7. Tax treaties in force, Department of Finance Canada (official). Checked 15 October 2026. Panama is not listed.
8. Criminal record checks: processing times and fees, Royal Canadian Mounted Police. Checked 16 October 2026. Federal fee 25 Canadian dollars per check, collected with any local fingerprinting charge; 3 business days or less with no match, up to 120 business days if manual processing is needed.
9. Executive Decree 17 of 8 September 2026: permanent residence as a Qualified Investor, Gaceta Oficial Digital No. 30613, 16 September 2026, as published by Servicio Nacional de Migración (official). Checked 17 October 2026. Gaceta text, in Spanish, read in full on 17 October 2026. In force from promulgation (article 21). Replaces Decree 722 of 2020. Minimums: B/.300,000 first-sale property, B/.500,000 resale, B/.500,000 securities, B/.750,000 or B/.500,000 fixed deposit.
10. Status table: Convention abolishing the requirement of legalisation for foreign public documents (Apostille), Hague Conference on Private International Law (HCCH). Checked 17 October 2026. Entry into force: Panama 4 August 1991, United States 15 October 1981, Canada 11 January 2024, Australia 16 March 1995, New Zealand 22 November 2001.
11. Income tax treaties in force, Australian Treasury. Checked 15 October 2026. Panama is not listed.
12. Tax information exchange agreements, Australian Treasury. Checked 15 October 2026. Panama is not listed.
13. Jurisdictions participating in the Convention on Mutual Administrative Assistance in Tax Matters (status of 1 September 2026), OECD. Checked 15 October 2026. Australia: amended Convention in force 1 December 2012. New Zealand: amended Convention in force 1 March 2014. Panama: amended Convention in force 1 July 2017. The terms of the Convention and any reservations were not read.
14. Notarial services and fees (fee schedule from 1 January 2026), Internet Archive copy, Australian Government, DFAT (Smartraveller), Internet Archive copy. Checked 15 October 2026. Internet Archive capture of 7 October 2026: an apostille costs A$105 per document.
15. National police checks, Australian Federal Police. Checked 16 October 2026. Each National Police Certificate costs A$57; A$114 when fingerprints are needed.
16. Tax treaties: double tax agreements and tax information exchange agreements, Inland Revenue (New Zealand), Tax Policy. Checked 15 October 2026. Panama is in none of the lists of double tax agreements or information exchange agreements in force.
17. Criminal records: get your own, Ministry of Justice (New Zealand). Checked 16 October 2026. Opened on 16 October 2026. The Ministry aims to respond to criminal record check requests within 20 working days (Privacy Act 2020); if a country asks for the record to be Apostille-certified, you send the record you get to the Department of Internal Affairs Apostille service.
18. Leaving New Zealand, Inland Revenue (New Zealand). Checked 15 October 2026. You become a non-resident only if you have no permanent place of abode in New Zealand and are away more than 325 days in any 12-month period.
19. Requirements: permanent residence for own economic solvency by fixed deposit (PPT-SEP-DPF), Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026. Checklist PDF (uploaded April 2026), in Spanish, still listing B/.300,000. Not compared with Executive Decree 17 of 8 September 2026.
20. Requirements: permanent residence for own economic solvency by real estate (PPT-SEP-IBM), Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026. Checklist PDF (uploaded April 2026), in Spanish, still listing B/.300,000 of property. Not compared with Executive Decree 17 of 8 September 2026.
21. Executive Decree 16 of 31 August 2026, adding Ecuador to the friendly-countries list, Gaceta Oficial Digital No. 30601-B, 31 August 2026, as published by Servicio Nacional de Migración (official). Checked 15 October 2026. Scanned Gaceta pages (the second page is scanned upside down). Amends article 2 of Decree 416 of 2012 only to add Ecuador and keeps the other provisions, requirements and fees of Decree 226 of 2021 in force; says residence under this route does not remove the duty to get a MITRADEL work permit.
22. Checklist: provisional residence for nationals of specific friendly countries (PPT-PE), Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026. Checklist PDF (uploaded April 2026), in Spanish: two years provisional, certified cheques of B/.250 and B/.800, job, property of B/.200,000 or fixed deposit of B/.200,000 as the basis; sponsor income B/.1,000 a month plus B/.100 for each dependant.
23. Requirements for a letter of naturalisation (numerals 1, 2 and 3 of article 10 of the Constitution), Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026. Checklist PDF (uploaded April 2026), in Spanish: asks for a copy of the permanent residence card and an express, irrevocable renunciation of the previous nationality; it does not state the years of residence.
24. Countries with reciprocity agreements, by years of permanent residence, Servicio Nacional de Migración de Panamá (official). Checked 17 October 2026. Checklist PDF (uploaded April 2026), in Spanish: lists El Salvador (1 year), Argentina, Ecuador, Spain, Honduras, Mexico, Nicaragua, Peru, Colombia (2 years) and Uruguay (3 years); the United States, Canada, Australia and New Zealand are not listed.
25. Instructions for filling in the personal income tax return (Declaración jurada de renta de persona natural), Dirección General de Ingresos, Ministerio de Economía y Finanzas (official). Checked 15 October 2026. In Spanish; an older instruction sheet. Line 18 subtracts foreign-source income under paragraph 2 of Tax Code article 694. The sheet applies the rates of Tax Code article 700 as amended by Law 8 of 2010.
26. Panama: information on tax residency, Dirección General de Ingresos, via the OECD automatic-exchange portal (official). Checked 15 October 2026. Tax Code article 762-N: more than 183 days in the current or immediately preceding fiscal year, or permanent housing and a personal connection to it; a migratory or investment-based residence permit does not automatically confer tax residency.