update!: Qualified Investor Visa
The minimum investment in real estate for those wishing to apply under this category continue to be US$300,000.00 instead of US$ 500,000.00.
The Executive Decree No. 722 of October 15, 2020, created the visa of Qualified Investor within the category of permanent resident for economic reasons.
This Executive Decree stated as one of the possibilities to obtain permanent residency in Panama was to invest a minimum amount of US$ 500,000.00 in real estate. However, there was an exception. Applicants who request Residency under this category before October 15, 2022, benefited from a reduction of US$200,000.00 in the required real estate investment.
The government considering the benefits the Qualified Investor Visa has provided to the construction industry after the Pandemic, has recently published the Executive Decree No. 109 of October 13, 2022, modifying The Executive Decree No. 722 of October 15, 2020. Therefore, the minimum investment in real estate for those wishing to apply under this category continue to be US$300,000.00 instead of US$ 500,000.00.
The exception will be in force until October 15, 2024.
On the other hand, the new decree has not only set a new date for the exception but has also added new requirements regarding the promise of purchase agreement, promissory purchase contracts, or escrow agreement. These agreements must now be authenticated by a public notary.
Contact us to info@fischer-cie.com if you need more information.
