Panama’s Qualified Investor Visa is a new program in the immigration services market, which began operating in October 2020. The Panama’s authorities initially decided to make the grace period for the real estate option a period of two years, during which the minimum investment was USD $300,000 rather than $500,000. So, there are actually six months left to enter Panama’s Qualified Investor Visa program under special conditions.
What sets the QIIP program apart from other residency options in Panama is the fully remote procedure. While in residency categories, all candidates, including dependent family members, will need to visit Panama at various stages of application. Moreover, the processing of an application for standard visas takes 3-6 months. And for investors it’s only 30 days from the moment they submit their application. This is one of the Central American “Golden Visas”. Which means the status does not require permanent residence. However, to maintain your visa you will need to visit Panama at least once every two years.
Panama is a leading banking and financial center in Latin America and has more than 60 banks. The reason for this is the favorable tax system, i.e. banks do not pay any taxes on profits received from foreign sources. This means banks can invest globally and not have to pay local taxes for it. This opportunity firmly established Panama’s status as the banking center of Latin America. In fact, Panama is often called the Switzerland of Latin America.
Panama’s Qualified Investor Visa. Investment options
1/ Purchase of real estate – $300,000 (investment amount will increase to $500,000 in October 2024).
Note that investors can submit application without title deed only confirming payment to the developer or seller. So that is possible to invest in real estate under construction.
2/ A Panama securities in the stock market – $500,000.
3/ A deposit in an approved Panama bank – $750,000.
All investment options mentioned above have a must hold period of 5 years.
Key benefit
Someone would say that key benefit of the QIIP is eligibility to apply for citizenship after 5 years of residence. Looks as a very attractive option as Panama’s citizenship gives a right to travel to 140+ countries without a visa including Schengen zone (European countries). However, almost none of the investors will reach citizenship, since it will be necessary to physically spend most of the time in Panama for 5 years, as well as renounce all other citizenship when undergoing naturalization.
This Panama’s Qualified Investor Visa program offers a fast-track path to permanent residency. This type of visa allows to live, work, and study in Panama.
The program may be of interest to those who want to do business in Panama, work there as an employee. You can apply for a Panama Qualified Investor Visa under this program for spouses and financially dependent children under 25 years of age. permanent residents can also benefit from Panama’s modern and affordable health care system.
