Article written: September 25, 2026
How much do you need to invest in Panama real estate to qualify for fast-track permanent residency? Under a new decree, the answer now depends on whether the property is new or resale: $300,000 for a new, first-sale property bought from the developer, and $500,000 for a resale property.
The rules are set out in Executive Decree No. 17 of September 8, 2026, published in Gaceta Oficial No. 30613. It fully replaces Executive Decree No. 722 of 2020 and all of its amendments, which created the Qualified Investor (Inversionista Calificado) residency program. Law firm analyses place the effective date at September 16, 2026.
The Ministry of Commerce and Industries (MICI) announced the changes publicly on September 21, after approval by the Cabinet Council.
What Are the New Qualified Investor Minimums?
The decree sets five investment routes. Each investment must be held for at least five years.
| Investment route | Minimum investment | Minimum holding period |
|---|---|---|
| New real estate, first sale (including pre-construction under a promise-to-purchase contract) | $300,000 | 5 years |
| Resale (secondary market) real estate | $500,000 | 5 years |
| Securities through a licensed Panamanian brokerage | $500,000 | 5 years |
| Fixed-term deposit at Banco Nacional de Panamá or Caja de Ahorros | $500,000 | 5 years |
| Fixed-term deposit at a private bank | $750,000 | 5 years |
What Changed From the Previous Rules?
The most significant change is the split between new and resale property.
Under Executive Decree No. 193 of October 15, 2024, the real estate minimum was a flat $300,000, with no distinction between new construction and resale. The new decree keeps $300,000 for first-sale property but sets $500,000 for resale property.
The decree also adds a new option: a $500,000 fixed-term deposit at one of Panama’s two state banks, Banco Nacional de Panamá or Caja de Ahorros. Deposits at private banks remain at $750,000.
| Investment route | Decree 193 of 2024 | Decree 17 of 2026 |
|---|---|---|
| New real estate (first sale) | $300,000 | $300,000 |
| Resale real estate | $300,000 | $500,000 |
| Securities | $500,000 | $500,000 |
| State bank deposit (BNP / Caja de Ahorros) | Not available | $500,000 |
| Private bank deposit | $750,000 | $750,000 |
Why Does New Construction Get the Lower Threshold?
MICI has framed the $300,000 tier as a measure to channel foreign capital into construction and jobs. Commerce Minister Julio Moltó said the government wants that investment “to become projects, economic movement and more employment.”
The program was already growing before the change. Between July 2025 and June 2026, MICI issued 268 investment certificates backed by $113.6 million, compared with 193 certificates and $90.1 million in the prior 12 months.
| Period | Certificates issued | Investment backed | Average per certificate |
|---|---|---|---|
| July 2024 – June 2025 | 193 | $90.1 million | about $467,000 |
| July 2025 – June 2026 | 268 | $113.6 million | about $424,000 |
| Change | +38.9% | +26.1% | — |
Real estate accounted for 87.3% of certificates in the most recent period, according to MICI figures reported in July.
How Is the Property Value Calculated?
The decree counts the lower of two figures: the price actually paid or the documented commercial value of the property, minus any liens registered against it.
That means a mortgage is not automatically disqualifying. A buyer can finance part of the purchase, as long as the net value after liens stays at or above the applicable minimum.
When there is reasonable doubt about whether a price reflects market value, MICI can require an independent appraisal. It must be issued within the previous six months by a professional recognized by Panamanian authorities.
For pre-construction purchases, promise-to-purchase contracts qualify from $300,000 when backed by bank guarantees. The time an investor can rely solely on a promise contract, before the property is delivered and registered, is capped at three years.
Where Must the Investment Money Come From?
The funds must belong to the applicant and originate from abroad, with banking documentation that traces their origin. Gifts and donations from third parties do not qualify.
The investment can be held in the applicant’s own name or through a Panamanian or foreign legal entity.
How Long Does Approval Take?
The decree sets formal processing deadlines for the first time:
| Step | Agency | Deadline |
|---|---|---|
| Investment certification | MICI | Up to 15 business days from a complete file |
| Residency resolution | National Migration Service | Up to 30 business days from a complete file |
What Are the Obligations After Approval?
Qualified investors must file an annual certification with MICI, within the 30 days before each anniversary, showing the investment is still in place.
An investor who sells or withdraws the investment must notify MICI within 30 calendar days and has up to 90 calendar days to document a replacement investment. Market fluctuations alone are not treated as a breach, provided there is no voluntary withdrawal and the balance is restored within 90 days.
Spouses married after approval and children born or adopted after approval can be added as dependents.
What Happens to Applications Already in Progress?
The decree includes transition rules:
- Applications filed before the effective date are processed under the previous requirements.
- Investments completed before the effective date can use the previous rules if the application is filed within six months.
- Investment certificates already issued remain valid until they expire.
- Residents under the economic solvency category have a 12-month window to convert to Qualified Investor status.
What Does This Mean for Property Buyers?
For buyers using real estate to obtain residency, the decree makes new construction the lower-cost route. A resale condo that would have qualified at $300,000 under the 2024 rules now needs to be worth $500,000 or more.
Developers are already responding. Mercan Group, which broke ground this week on a 48-floor tower in Santa María with units from $364,000, is marketing the project as eligible under the new $300,000 tier.
Buyers who signed or closed on a resale purchase before September 16 should confirm with counsel whether the transition window applies to them.
Casa Solution can help you identify new and pre-construction properties that meet the $300,000 threshold, and review how a specific purchase fits the new rules. Contact our team to discuss your options.
Immigration and investment regulations and individual circumstances can vary. This article is intended as general information and should not replace advice from a qualified Panamanian attorney.
