Panama Qualified Investor Visa 2026: New Rules (Decree 17)

Panama's New Qualified Investor Rules: What Changed with Executive Decree 17 of 2026

Panama's Qualified Investor Program is one of the fastest ways to obtain permanent residency in the country through investment. In September 2026, the government replaced the rules that had governed the program since 2020 with a new regulation: Executive Decree 17 of September 8, 2026, published in Official Gazette No. 30613 on September 16, 2026. It replaces Executive Decree 722 of October 15, 2020 and its amendments.

The update keeps the core of the program, adds new investment options and sets clearer rules on how long the investment must be held and how quickly applications are processed. Here's what investors and families need to know.

What is the Qualified Investor Program?

The Qualified Investor Program grants permanent residency in Panama to foreign nationals who make a qualifying investment in the country. Applications go through a special window at the Ministry of Commerce and Industries (MICI), which certifies the investment, and the National Migration Service, which grants the residency. You can see how this route compares with other options on our Panama investment residency page.

Unlike some other residency routes, it doesn't depend on your nationality or on having a job in Panama. The qualifying factor is the investment itself.

Investment options and minimum amounts

Executive Decree 17 sets the following investment options:

What changed from the 2020 rules

• A clear distinction between new and resale property, with $300,000 for first sale and $500,000 for resale.
• A new option for fixed-term deposits at state banks of $500,000, below the $750,000 required at private banks.
• More options in the securities market, including eligible funds, bonds, shares and REITs.
• Clearer rules on how the value of the investment is verified, including appraisals for real estate.
• A defined limit for promises to purchase, which can't exceed a combined term of 3 years.
• A five-year holding requirement applied to every investment option, with an annual confirmation to MICI.

How long you must keep the investment

The investment must be held for at least five years. Each year, within the 30 days before the anniversary of the residency, the investor must confirm to MICI that the investment is still in place.

Processing times

• MICI investment certificate: issued within 15 business days of a complete application. The certificate is valid for three months, so the residency application should follow soon after.
• Residency decision: the National Migration Service resolves the application within 30 business days of receiving the complete file.
• Corrections: if the file has deficiencies, the applicant has 15 business days to correct them.

Family members

Dependents can be included in the application. The decree also allows adding family members after approval, such as children born or adopted later and a spouse through a civil marriage that takes place after the residency is granted. Each dependent is subject to its own government fees.

Transition rules

The decree took effect on September 16, 2026. Investments or binding contracts perfected before that date can still be processed under the previous rules, as long as the application is filed within the six-month transition period.

How the program is performing

Between July 2025 and June 2026, MICI issued 268 Qualified Investor certificates backed by $113.6 million in investment, up from 193 certificates and $90.1 million in the previous period. Real estate accounted for 87.3% of the investment.

Qualified Investor vs. Friendly Nations Visa

If you're a citizen of an eligible country and your main goal is to live in Panama, the Friendly Nations Visa can require a lower investment. If you want permanent residency from the start, or your nationality isn't eligible, the Qualified Investor route is usually the better fit. Qualified investors may also be eligible for Panama's special passport under Law 493, which we explain in our Law 493 guide.

Who this program fits best

• Investors who want permanent residency without a waiting period of provisional status, and who may later consider the path from residency to citizenship.
• Families planning to relocate who want to include dependents in a single process.
• Investors who prefer financial investments over real estate, now that securities and deposits are clearer options.
• Nationalities that don't qualify for the Friendly Nations Visa.

How JJ Associates can help

JJ Associates guides investors and families through the full residency and citizenship process: choosing the right investment option, reviewing the property or financial product, preparing the MICI certification, filing the residency with the National Migration Service and handling the annual confirmations. If you plan to hold the investment through a company, our guide to building wealth with Panama corporations explains how those structures work, and we can also help you open the corporate bank account.

Schedule a consultation and our team will understand your case and map out the right path forward.

Frequently asked questions

What is the minimum investment for Panama's Qualified Investor visa?

$300,000 in new real estate bought from the developer. Resale property, Panamanian securities and fixed-term deposits at state banks require $500,000, and deposits at private banks require $750,000.

Does the Qualified Investor Program give permanent residency?

Yes. It grants permanent residency directly, without a provisional stage.

How long does the process take?

MICI issues the investment certificate within 15 business days of a complete application, and the National Migration Service resolves the residency within 30 business days of receiving the complete file.

How long do I have to keep the investment?

At least five years, with an annual confirmation to MICI within the 30 days before each anniversary.

Can I include my family?

Yes. Dependents can be included, and children born or adopted later, or a spouse from a later civil marriage, can be added after approval.

Sources: Executive Decree 17 of September 8, 2026, Official Gazette No. 30613 (September 16, 2026); Ministry of Commerce and Industries (MICI); Icaza, González-Ruiz & Alemán; Morgan & Morgan; Fábrega Molino. This article is for general information and is not legal advice.

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