Panama Qualified Investor Visa – Decree 193, effective from October 15th, 2024
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Panama Qualified Investor Visa – Decree 193, effective from October 15th, 2024

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Pardini & Asociados
November 24, 2024
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Published in Afik News 427 27.11.2024

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The Government of Panama has approved a significant new regulation to its Panama Qualified Investor Visa (also known as the Golden Visa) through Decree 193, effective from October 15th, 2024. 

This permanent residence visa, originally launched to attract high-net-worth individuals by offering a fast-track route to residency, has now undergone crucial changes to its real estate investment requirements and processing options, making it more accessible to medium-net-worth individuals.

 

Key Changes for Real Estate Investment

Real Estate Investment: The minimum required real estate investment has been lowered from $500,000 to $300,000. This amount applies whether the purchase is made directly by the individual, through a Panamanian foundation, or via a corporate entity, provided the applicant maintains beneficial ownership.

The other 2 options to invest are:

  1. Investing in Panama Listed-Securities- Investment for US$500,000 through a licensed securities company for a period in Panamanian listed securities for no less than 5 years.
  2. Bank Time Deposit- Setting up a time deposit in any licensed bank in Panama for US$750,000 for no less than 5 years. The deposit must be free of any financial commitment or lien.

Highlights of the program

Applicants can now make the required investment in:

  1. Completed or Pre-Construction real estate projects, documented by a promise of buy/sell contract.
  2. Investment Amountof not less than US$300,000 deposited in a Trust managed by a Panamanian trustee.
  3. Direct Payment to the developerfor an amount equal for 100% of the price of the real estate property at the time of purchase (but not less than US$300,000) with a bank letter of guarantee from the developer or seller on behalf of the buyer/investor.

 

Co-ownership Investments are Accepted: If the real estate purchase is executed personally, through a company or foundation, and co-ownership arrangements are allowed between spouses or dependents. In such cases, the investment will still qualify, promoting flexibility for families or dependents applying together under the same visa.

Additional Details to Consider

  • The processing time remains fast, with approvals typically issued within 30 working days.
  • The investment must be maintained for at least five (5) yearsto retain residency status.
  • Applicants and their dependents can complete the application through a Panamanian lawyerand initiate the process remotely before arriving in Panama.

Contact us: Tel: (+507) 223-7222 Email: clientservices@padela.com 

   

FOLLOW US @PARDINILAW FOR THE LATEST  LEGAL AND BUSINESS UPDATES.

  
© 2024 Pardini & Asociados. Rights reserved.

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