Panama
Panama Qualified Investor Visa & Friendly Nations Visa
Also known as: Panama Golden Visa, Panama QIV, Panama FNV
- Min investment
- $200K
- Program tier
- Permanent Residency
- Program type
- Investor Visa
- Initial validity
- 5 yr
- Renewable
- Yes
- Path to PR
- Immediate
- Path to citizenship
- 5 yr
- Schengen access
- Yes
Investment options
Real Estate
$300KQualified Investor Visa — Real Estate route — USD 300,000+ in Panamanian property (free of liens, registered to investor). Floor scheduled to increase to USD 500,000 on 15 October 2026; current applications grandfathered.
Fund
$500KQualified Investor Visa — Securities route — USD 500,000+ in Panamanian stock exchange-listed securities through a licensed broker.
Bank Deposit
$750KQualified Investor Visa — Fixed-term Deposit route — USD 750,000 fixed deposit at Panamanian bank for 5 years.
Real Estate
$200KFriendly Nations Visa — Real estate route — USD 200,000+ in Panamanian property. Available only to nationals of 50+ 'friendly' countries (US, Canada, EU, UK, Australia, Japan, Singapore, etc.). Issues 2-year temporary residence first, then PR.
Bank Deposit
$200KFriendly Nations Visa — Fixed deposit route — USD 200,000 in Panamanian bank for minimum 3 years.
Business Investment
$0Friendly Nations Visa — Employment route — Job offer from Panamanian company (must hire local first). Lowest capital threshold but practical limits.
Physical presence
Path to citizenship
- Available: Yes
- Minimum years: 5
- Physical-presence years: 5
- Language test: Yes
Naturalization after 5 years legal residence (3 if married to Panamanian, with child born in Panama). Spanish exam + Panama history/civics. Citizenship discretionary — application sits with Ministry of Government and is slow (often 2-4 additional years). Dual citizenship in practice tolerated though not formally recognized.
Tax implications
- Becomes tax resident automatically: No
- Worldwide income taxed: No
- Territorial tax system: Yes
- Day-count for tax residency: 183 days
- Wealth tax: No
Panama operates strict territorial taxation — only Panama-source income taxed. Foreign-source income (incl. dividends, interest, capital gains, pensions) tax-free regardless of remittance. PIT progressive to 25% on local income. No capital gains on non-Panama assets. No wealth, no inheritance tax. Among the most attractive low-tax bases in the Americas for US persons (CFC/PFIC issues aside).
Family inclusion
- Spouse: Yes
- Children under 18: Yes
- Dependent adult children: Yes
- Parents: Yes
Spouse, dependent children under 25 (in education), dependent parents, dependent disabled relatives. Each adult dependent typically USD 1,000-2,000 in additional government and legal fees.
Additional fees
- Application fee: $3K
- Government fees: $2K
- Legal/agent (est.): $6K
Government repatriation deposit USD 800/person. Carnet de Residente USD 100. Property transfer tax 2%. Stamp duty 0.75%. Legal fees typically USD 3,500-7,500 per applicant.
Eligibility requirements
- Age 18+
- Clean criminal record from country of residence (apostilled, within 6 months)
- Health certificate from Panamanian doctor
- Bank reference letter
- Source-of-funds documentation
- FNV: nationality of an eligible 'friendly nation'
Disqualifiers
- Non-eligible nationality for FNV (e.g., China, India, Russia)
- Failure of source-of-funds review
- Criminal record
Recent changes
- 2021-08
Friendly Nations Visa significantly tightened — old USD 5K deposit route eliminated; replaced with USD 200K property or USD 200K deposit OR job offer requirement. Temporary residence for 2 years before PR.
- 2022
Qualified Investor Visa real-estate threshold temporarily reduced to USD 300,000 to drive volume (originally USD 500,000).
- 2026-10-15
QIV real-estate threshold scheduled to revert to USD 500,000 (and remain there permanently). Current USD 300K route still available for applications received before this date.
Notes
Panama is one of the most popular RBI destinations for US persons seeking territorial tax base + Americas-friendly time zone + US dollar legal tender. QIV is the only true 'instant PR by investment' in the Americas (vs. typical 2-4 year wait). FNV is more affordable (USD 200K) but the nationality eligibility list excludes major investor markets like China and India. October 2026 QIV price hike is the live deadline. Citizenship is slow in practice despite 5-year statutory minimum.
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EasyPassport is a document-organization tool focused on citizenship by descent. This page is reference research, not legal or financial advice. Always verify with the official program authority.