A new decree sets separate real estate thresholds for first-sale and resale property and toughens proof of where the money comes from.
According to the immigration law firm Fragomen, a new decree has made Panama's Qualified Investor residence programme more restrictive. For real estate, the minimum is now PAB 300,000 for property bought in a first sale and PAB 500,000 for property on the secondary market.
The decree also strengthens the rules on the source and traceability of the funds. They must belong to the applicant and cannot include gifts, donations or other transfers from third parties made free of charge. Fragomen also notes stricter checks on who owns a legal entity that holds the investment, annual evidence of compliance before the anniversaries of immigration approval, and more detailed documentation for promissory sale structures.
A new alternative has been added: a five-year fixed-term deposit of PAB 500,000 with Banco Nacional de Panamá or Caja de Ahorros now qualifies. For citizenship, the Ministry of Commerce and Industry is to streamline applications from qualified investor residents and their dependants after five consecutive years of residence.
Fragomen advises foreign nationals to consult immigration professionals before structuring a purchase or committing funds.