Panama has revised the real estate investment thresholds for its Qualified Investor Visa (QIV) program, raising the minimum for resale properties while leaving new construction untouched.
The minimum investment for secondary-market (resale) properties has increased from $300,000 to $500,000. The threshold for pre-construction and first-sale properties remains $300,000.
Executive Decree No. 17 was signed Sept. 8 and published in Official Gazette No. 30613 on Sept. 16, when it took effect. It replaces Executive Decree No. 722 of 2020, which had governed the program since its creation.
The program grants permanent residency to qualifying investors, who must hold the investment for at least five years.
What Are the Implications for New and Current Investors?
Applications filed before Sept. 16 continue under the thresholds in effect at the time of submission. Separately, investors who had already entered a binding agreement before Sept. 16 may still qualify under the old rules, provided they file within six months of that date.
- Cost of delay: Waiting beyond the transition period may require additional capital to achieve the same residency outcome.
- Planning opportunity: Investors who already hold a binding agreement from before Sept. 16 should file promptly rather than let the six-month window run down.
- Selective strategy: The different thresholds make it important to weigh first-sale and resale properties against portfolio goals and visa eligibility.
The decree also tightens verification. The recognized investment value is the lower of the price actually paid and the reasonably established commercial value, supported by ANATI cadastral certification. Where objective factors raise doubt, authorities may require an independent appraisal issued within the previous six months. Gifts and donations cannot be used to meet the threshold.
Why Panama Split the Threshold
Secondary-market properties include real estate that has previously been sold, occupied, leased, or transferred to an unrelated third party. These properties often have established market values.
The government says the higher threshold will encourage investment in new construction and housing supply, align investment amounts with market realities, and ensure meaningful economic impact.
The program’s fixed-term deposit option with state-owned banks — Banco Nacional de Panamá or Caja de Ahorros — is $500,000. Deposits with privately licensed banks require $750,000. Both must be held for five years. A separate securities option requires $500,000 through a licensed brokerage and is also for five years.
