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How long do I have to keep the property that I purchased to obtain a Panama permanent resident permit?

I learned that the initial investment residency is only valid for two years and is subject to review at the end of the two-year period. Then the applicant might get a permanent resident permit. Do I have to keep my investment (real estate property) at this point? When can I sell it or rent it out?


Answers
  • Panama Global Solutions
    November 09, 2018

    The applicant must keep the investment for all two years of the initial resident permit (two years). Before this period ends, a permanent resident permit application should be submitted, together with proof of ownership of properties purchased. Once the applicant has become a permanent resident, the property may be sold. However, properties may be rented from Day 1 of ownership.

  • Kraemer & Kraemer
    November 10, 2018

    With the self-solvency visa, you obtain a temporal residency for six months then, upon approval, a two-year provisional residency. Then, upon the two-year period, the documents are filed again, where you obtain another six months of temporal residency and, upon new verification, then you obtain permanent residency. During this time frame (approximately three years) you must hold legal ownership of the property, regardless of it is rented or not.

  • Mulford Abogados
    November 12, 2018

    Yes, you have to keep the initial investment until you get the permanent resident permit. This is around three years, although you can rent it from day one.