The National Government announces the creation of a permanent residence program for qualified foreign investors, to stimulate the economy.
To apply for this program, Executive Decree No. 722 of October 16th 2020, investors must invest in real estate for a minimum of $300,000 during the first 24 months.
After this time, the amount rises to $500,000.
According to the decree, real estate investments can be for units already completed or also through investment through promissory contracts for the sale of real estate units, through the incorporation of a trust that guarantees the purchase of the real estate.
Other investment modalities established in this decree include the purchase of securities on the Panama Stock Exchange for a minimum amount of $500,000 and establishment of fixed bank terms for a minimum of $750,000.
These values ??must have a direct impact on the national territory.
All investments must be maintained for a minimum of 5 years and for the investor to obtain immediate permanent residence after the completion of the process, which is estimated to take 30 days.
The investor may apply from abroad, that is, he can make the investment from outside of Panama, through a local Panama lawyer, and complete the process when he is in the Republic of Panama.
Once in the country, you must continue the process at the single investment window of the Ministry of Commerce and Industries (MICI), in which the National Migration Service (SNM) also participates, to ensure and ensure adequate controls of each investment in compliance with Panamanian immigration and security regulations.
Decree No. 722 was publicized in the Official Gazette Friday, October 16th and bears the signatures of the President of the Republic Laurentino Cortizo and the Minister of Security Juan Manuel Pino.
To apply for this program, Executive Decree No. 722 of October 16th 2020, investors must invest in real estate for a minimum of $300,000 during the first 24 months.
After this time, the amount rises to $500,000.
According to the decree, real estate investments can be for units already completed or also through investment through promissory contracts for the sale of real estate units, through the incorporation of a trust that guarantees the purchase of the real estate.
Other investment modalities established in this decree include the purchase of securities on the Panama Stock Exchange for a minimum amount of $500,000 and establishment of fixed bank terms for a minimum of $750,000.
These values ??must have a direct impact on the national territory.
All investments must be maintained for a minimum of 5 years and for the investor to obtain immediate permanent residence after the completion of the process, which is estimated to take 30 days.
The investor may apply from abroad, that is, he can make the investment from outside of Panama, through a local Panama lawyer, and complete the process when he is in the Republic of Panama.
Once in the country, you must continue the process at the single investment window of the Ministry of Commerce and Industries (MICI), in which the National Migration Service (SNM) also participates, to ensure and ensure adequate controls of each investment in compliance with Panamanian immigration and security regulations.
Decree No. 722 was publicized in the Official Gazette Friday, October 16th and bears the signatures of the President of the Republic Laurentino Cortizo and the Minister of Security Juan Manuel Pino.
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