Panama has raised the minimum property value for its Investor Visa to $500,000.
There's still a $300,000 exception, though, if the property meets a certain condition.
President José Raúl Mulino and Minister of Public Security Frank Alexis Ábrego signed Executive Decree No. 17 on September 8. It was published in the Official Gazette on September 16.
The decree replaces Decree No. 722 of 2020 "in all parts." That decree created the 'Qualified Investor Permanent Residency program'. The decree also replaces its 2022 and 2024 amendments.
According to Article 21, it takes effect as soon as it's promulgated.
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Immigration laws and financial requirements change frequently. This article is for informational purposes only and does not constitute legal or financial advice. Before making any decisions, please consult a qualified professional or reach out to the High Net Worth Immigration team for a free, up-to-date consultation.
From now on, two different financial tiers apply to property investment
For a new-build property (bought for the first time from a developer, or not yet built), a minimum investment of $300,000 is enough. The government's reasoning is that this keeps the local supply chain active, reduces primary inventory, and creates new jobs.
For a resale property (one that has already been sold, leased, or occupied), the minimum investment has been raised to $500,000. The reason given is that its economic multiplier effect is significantly lower than that of new construction.
Bank guarantees are now compulsory
Investors in off-plan projects now get stronger protection. Developers must submit a bank instrument that is irrevocable, unconditional and payable on first demand (for example, a standby letter of credit or a performance guarantee) through a Panama-licensed entity. The full 100% of the funds stays protected until registration is done.
If the project fails, the investor gets a one-time chance to choose an alternative off-plan contract within 180 working days after the contract term ends. If it fails again after that, the funds must be moved directly into a completed property, securities, or deposits.
Resident status based only on a promise of sale can stay valid for a maximum of three years (continuous or non-continuous). If it goes beyond that, the permit will be canceled.
New crackdown on source of funds verification
Applicant must prove that the funds are their own and that they came in through an international SWIFT transfer. Money received as a third-party gift, donation, or free transfer will not count toward this minimum threshold.
In addition, to determine the property's value, the applicant must submit a report from an independent appraiser recognized by Banco Nacional de Panamá or Caja de Ahorros, dated within the last 6 months, along with the cadastral data. The report must confirm the actual market value and the outstanding balance of any real liens.
A minimum limit is now fixed for securities investment
Outside real estate, the minimum for securities investment is $500,000 (for 5 years). This now explicitly includes private equity, venture capital, sovereign bonds, treasury bills, and real estate investment trusts (REITs). If the value drops because of market volatility, the status will not be canceled, as long as the investor did not sell voluntarily and makes up the shortfall within 90 days of MICI's notice.
For fixed-term deposits, $750,000 is required at a regular private bank. If you choose a state bank (Banco Nacional or Caja de Ahorros), the minimum drops to $500,000, as a strategic incentive to strengthen national financing.
Residents now face a new yearly obligation
Every year, within 30 days of the anniversary of the immigration resolution, proof of investment must be submitted directly through a legal representative.
If the investment is sold or transferred before the five years are complete, it must be reported within 30 days, and a strict 90-day deadline is given for reinvestment. The most notable addition is a clear path to citizenship.
After five consecutive years as residents, qualified investors and their dependents can apply for naturalization, which will be handled through MICI's investment window.
Existing applicants won't be hit by the new rules
The old $300,000 benefit is still available to those whose contract or investment was completed before the decree took effect, but they must apply within 6 months of the effective date. Issued certifications stay in force until they expire, and there will be no retroactive reassessment unless fraud is shown.
Overall, Panama's new framework directs foreign capital into the country's priority sectors, while also giving investors a well-organized, secure, long-term path to residency and citizenship.
Vicky Katsarova is an internationally recognized advisor in residency and citizenship by investment, with more than 15 years of experience helping investors, entrepreneurs, and families secure strategic residency and citizenship solutions.
Since founding High Net Worth Immigration in 2010, she has advised clients across more than 20 jurisdictions, helping them enhance global mobility, protect family wealth, diversify geopolitical risk, and unlock international opportunities through carefully selected investment migration programs.
Having lived in Bulgaria, the UAE, and Canada, Vicky combines professional expertise with personal international experience. Her boutique advisory is built on discretion, integrity, and long-term client relationships, delivering tailored solutions aligned with each client’s unique objectives.
Member of the Uglobal Writers Council | Contributor to UNIQUE Private Jet Magazine | Featured in CIVITAS POST's “Leading Women” & Women's Journal
