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Executive Decree No. 109 of 13 October 2022
- With this new decree, paragraph a, numeral 2 of article 3 and article 10 of Executive Decree No. 722 of 15 October 2020 are modified.
- To apply for the Permanent Residence Permit as a Qualified Investor (commonly known as Golden Visa), there are four options:
- By a real estate investment:
- Minimum investment of $500,000.00, free of liens;
- In addition to the requirements established in this Executive Decree, the followings must also be provided: (i) Certification from the Public Registry demonstrating the ownership and (ii) Certification from the National Land Titling Authority (ANATI), evidencing the value of the real estate.
- By a real estate investment through a promise of sale contract:
- Minimum investment of $500,000.00;
- It must be made through a Trust Deposit managed by a bank or trust company of the country;
- In addition to the requirements established in this Executive Decree, the applicants must also provide: (i) an authenticated copy of the purchase agreement, and (ii) an authenticated copy, or the original, of the trust contract.
- By investment made through a brokerage house with license approved by the Superintendency of Securities of Panama (SMV):
- Minimum investment of $500,000.00;
- This investment must be in securities of issuers, whose businesses have effect in the national territory, through the Panama Stock Exchange (BVP);
- In addition to the requirements established in this Executive Decree, the following must be provided: (i) Certification issued by the brokerage house, stating the name of the investor, the amount of the investment, the detail of the securities held, as well as the entity that holds the securities, (ii) Authenticated copy of the resolution granting the license to the brokerage house where the applicant’s investment account is held, and (iii) Certification issued by the Superintendency of Securities of Panama in relation to the registry of the securities regarding the investment.
- By a fixed-term deposit investment in the banking:
- Minimum investment of $750,000.00, free of liens;
- In addition to the requirements established in this Executive Decree, the applicants must also provide: (i) an authenticated copy by the issuing bank of the fixed-term certificate of deposit, indicating the holder, the value and the term and, (ii ) Certification from the bank stating the existence of the deposit, the holder name, the value, the term, that it is free of encumbrances and that the funds come from abroad.
- During the first 48 months after the entry of this Executive Decree, the investment for real estate investment reasons, directly or through contracts of promise of sale, may be for the amount of $ 300,000.00 in the purchase of a real estate in Panama, free of encumbrances.
- Those foreigners who, at the entry into force of Executive Decree No. 722 of 15 October 2020, have in process or have initiated applications for a Provisional Permit as Self Economic Solvency for Investment in Real Estate, in the year 2020, may request the change of immigration status. To request this change, they must comply with the requirements established in Executive Decree No. 722 of 15 October 2020.
Comments:
- The obligation to provide an authenticated copy of the promise of sale contract, duly registered in the Public Registry, is eliminated. With this new decree, it is only necessary to provide an authenticated copy of this contract.
- By modifying Article 10 of Executive Decree No. 722 of 15 October 2020, it is stated that for a period of 48 months after the entry into force of this decree, the investment for reasons of real estate investment, directly or by means of a promise of sale contract, may be for the amount of $300,000.00.
- Having said the above, this period is extended for 24 months more, as of the date.