Octubre 3 de 2023

Navigating through the complexities of investment and the quest for a stable residential status in a foreign land, Panama has shifted the gear with the promulgation of Executive Decree No. 109 of October 13, 2022. This decree reshapes investment perspectives by tweaking aspects of its predecessor, Executive Decree No. 722 of October 15, 2020, specifically targeting those eyeing Permanent Residency through the Qualified Investor stipulation.

Embarking on a Journey of Invested Residency

The latter decree elucidates four potential pathways to soliciting Permanent Residency under the mantle of Qualified Investor, each with its distinct set of prerequisites and financial commitments:

  1. Investing Through Real Estate:

    • A minimum clean slate investment of $500,000.00.
    • Mandatory credentials involve certification from the Public Registry and from the National Land Titling Authority, validating property ownership and value respectively.
  2. Venturing Through Real Estate via Purchase Agreement:

    • The investment benchmark remains at a minimum of $500,000.00, facilitated through a trust deposit managed by a national bank or trust.
    • The necessary documentation includes an authenticated copy of the purchase agreement and either an authenticated copy or the original of the trust agreement.
  3. Investing Through a Securities House:

    • Minimum investment: $500,000.00.
    • Investments should be targeted towards securities of issuers impacting the national territory through the Panama Stock Exchange.
    • Required are a certification from the Securities House, an authenticated copy of the resolution granting the license to the securities house, and a certification from the Superintendency of the Securities Market of Panama about the registered securities pertinent to the investment.
  4. Investing Through Fixed Term Deposit in the Banking Sector:

    • A heftier minimum investment of $750,000.00, free of encumbrances.
    • Documentary requisites involve an authenticated copy of the fixed-term deposit certificate and a bank certification attesting to the deposit’s existence, ownership, value, term, freedom from encumbrances, and its international origin.

The Finesse of Modified Investment Norms

In the aftermath of Executive Decree No. 722, for the initial 48 months following its inception, the direct or promise contract-based real estate investment prerequisite was lowered to $300,000.00, a boon to investors scouting for a property in Panama.

Moreover, foreigners who, upon the effectivity of Decree No. 722, were in the midst or had initiated applications for Provisional Permanence Permit due to Economic Solvency through Real Estate Investment in 2020, were provided with a portal to request a change in immigration status, provided they complied with the stipulations laid out in Decree No. 722.

Spotlight on the Pertinent Adjustments

The subsequent Decree No. 109 notably nullifies the compulsion to provide an authenticated copy of the purchase promise contract registered in the Public Registry, now merely necessitating an authenticated copy of the contract. Additionally, the adjustment of article 10 of Decree No. 722 stipulates that for 48 months post its enforcement, the direct or promise contract-based investment requirement is $300,000.00. Intriguingly, this period is further extended by an additional 24 months from the current date.

Wrapping Thoughts:

The modifications ushered in by the new decree signify an evident relaxation in the prerequisites for obtaining Permanent Residency through various investment channels in Panama. It embodies a meticulous balance between encouraging foreign investment and maintaining the integrity and stability of the national economic and real estate sectors.

It’s imperative to acknowledge that every investment step should be pursued with thorough research and, if possible, under the guidance of a seasoned legal or financial adviser, ensuring the path towards Permanent Residency in Panama is smooth, compliant, and fruitful.


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