{"id":"panama-rbi","name":"Panama Qualified Investor Residency","type":"RBI","status":"operational","country":"Panama","country_code":"PA","url":"https://www.mirabelloconsultancy.com/immigration/panama-qualified-investor-visa","min_investment":{"amount":300000,"currency":"USD","route":"Real estate, first sale USD 300k (resale USD 500k)"},"qualification_basis":"investment","investment_routes":[{"name":"Qualified Investor — Real Estate (first sale, new property)","type":"real_estate","min":300000,"currency":"USD","amount_usd":300000,"conditions":"Transitional rule (article 19): investments and binding contracts perfected before Decree 17 took effect on 16 September 2026 may use the previous regime if the application is filed within six months, by 16 March 2027. Pre-construction (article 7): residence may rest on promise-of-sale contracts for at most three years in total, continuous or not, after which the unit must be registered in the investor name or the permit is cancelled; if the developer defaults the investment may be replaced once, within 180 business days. Valuation (article 6): the amount credited is the lower of the price actually paid and the verified commercial value."},{"name":"Qualified Investor — Real Estate (secondary market, resale property)","type":"real_estate","min":500000,"currency":"USD","amount_usd":500000},{"name":"Qualified Investor — Securities / Stock Market","type":"securities","min":500000,"currency":"USD","amount_usd":500000},{"name":"Qualified Investor — Fixed-Term Bank Deposit","type":"fixed_deposit","min":750000,"currency":"USD","amount_usd":750000},{"name":"Friendly Nations Visa (secondary route)","type":"friendly_nations","min":200000,"currency":"USD","amount_usd":200000,"eligible_nationalities":["GB","DE","AR","AU","KR","AT","BR","BE","CA","ES","US","SK","FR","FI","NL","IE","JP","NO","CZ","CH","SG","UY","CL","SE","PL","HU","GR","PT","HR","EE","LT","LV","CY","MT","RS","ME","IL","DK","ZA","NZ","HK","LU","LI","MC","AD","SM","CR","PY","MX","PE","EC"],"summary":"For nationals of the 51 countries listed in article 2 of Executive Decree 416 of 13 June 2012, as modified by Executive Decrees 197 of 7 May 2021, 226 of 20 July 2021 and 16 of 31 August 2026 (which added Ecuador from 1 September 2026). Requires one of: an employment relationship with a Panamanian company, real estate of at least B/. 200,000 (local bank financing permitted), or a B/. 200,000 fixed-term deposit held free of encumbrance for 3 years. Grants a 2-year PROVISIONAL residence permit first, then permanent residency.","legal_basis":["Executive Decree 416 of 13 June 2012, article 2 (country list) and article 3 (provisional permit)","Executive Decree 197 of 7 May 2021","Executive Decree 226 of 20 July 2021, Gaceta Oficial 29335 of 21 July 2021","Executive Decree 16 of 31 August 2026, Gaceta Oficial 30601-B of 31 August 2026 (adds Ecuador; in force the day after promulgation)"],"fees":"B/. 250 certified cheque to the National Treasury and B/. 800 to the Servicio Nacional de Migración for the provisional permit (SNM requirement sheet PPT-PE). The permanent stage (PPP-PE) repeats the requirements except the criminal-record certificate and the cheque.","dependants":"Dependants file a letter of responsibility from the resident, proof of relationship (marriage certificate, birth certificates, or judicial proof of guardianship) and, for dependants aged 18 to under 25, proof of full-time study and a sworn declaration of single status. The resident proves economic solvency with an income-tax return showing at least B/. 1,000 a month plus B/. 100 for each dependant, or a current employment letter with payslip or social-security record and a copy of the work permit (SNM requirement sheet PPT-PE).","permanent_stage":"After the two-year provisional permit, the permanent permit (PPP-PE) is requested with the same requirements except the criminal-record certificate and the cheque (SNM requirement sheet PPP-PE).","work_permit_note":"Friendly Nations permanent residence does not exempt the holder from obtaining a work permit from the Ministry of Labour (MITRADEL) under the authorised categories, nor grant the right to practise professions regulated by special laws (recital of Executive Decree 16 of 2026).","holding_period_note":"No single holding period applies to the route. The fixed-term deposit option must have a 3-year term ('libre de gravamen con vigencia de 3 años', SNM sheet PPT-PE item (c)); the sheet states no holding period for the real-estate option. The 2 years are the provisional permit period, not a holding period.","minimum_stay":"No minimum stay is set. Once permanent, residence may be cancelled after an absence of more than two years unless the absence is justified and authorised by the SNM Director (Decreto Ley 3 of 2008 art. 31(3), 2008 text; amendments not checked). No presence rule for the 2-year provisional phase was found.","not_eligible_note":"Italy is NOT on the list; Italian nationals use the Italy-Panama treaty route instead. Nor are Taiwan, Iceland, Slovenia, Bulgaria, Romania, Colombia, Venezuela or India on it (checked against the decree text 2026-09-26).","processing_time_note":"No official processing time is published (UNVERIFIED).","deposit_term_years":3},{"name":"Italy-Panama Treaty Permanent Residence (Italian nationals only)","type":"nationality_treaty","min":null,"eligible_nationalities":["IT"],"summary":"A permanent residence permit reserved exclusively for Italian nationals, granted under the Treaty of Friendship, Commerce and Navigation between Panama and Italy. It is permanent and indefinite from the date of grant and needs no renewal (Servicio Nacional de Migración: \"Este Permiso es de forma indefinida por lo que no requerirá de prórroga\"). There is no minimum investment. The applicant shows an economic or professional purpose, either fully paid-up registered shares in a company entered in Panama's Public Registry or a Ministry of Labour-endorsed employment contract at a salary of at least B/.850.00, plus economic solvency: a bank certificate or last month's statement showing a balance of several thousand balboas (the SNM wording is \"cuatro cifras medias\", a four-figure balance in the middle of that range, and no exact amount is stated). Italians are exempt from the repatriation depo","compared_with":"Italy is not on the Friendly Nations list (Executive Decree 416 of 2012, article 2, as modified by Decrees 226 of 2021 and 16 of 2026), so the treaty permit is the Italian-specific route. Other foreigners on the Friendly Nations route receive a two-year provisional permit first and need B/. 200,000 in real estate or a three-year fixed deposit, or a qualifying job; the Qualified Investor route starts at B/. 300,000.","citizenship_note":"This route does not shorten citizenship. Italy is not on Panama's reciprocity list, so an Italian naturalises after five consecutive years of residence (Constitution art. 10(1)), or three with a Panamanian spouse or children (art. 10(2)). Panama requires an express declaration renouncing the nationality of origin. Italian law keeps Italian citizenship when another is acquired; it is lost only by the citizen's own renunciation (Law 91/1992, art. 11). How the Panamanian declaration applies in a particular case must be confirmed by counsel.","permit_duration":"indefinite (permanent from grant, no renewal)","legal_basis":["Treaty of Friendship, Commerce and Navigation Panama-Italy, approved by Ley 15 of 1 February 1966 (Gaceta Oficial No. 15564, 24 February 1966)","Treaty art. 1(1): citizens of each party may enter, remain, establish themselves, travel and transit in the territory of the other","Treaty art. 1(3): on request they are granted a personal identity card and a residence permit for an indefinite period (\"permiso de residencia por tiempo indefinido\")","Decreto Ley 3 of 22 February 2008, regulated by Decreto Ejecutivo 320 of 8 August 2008","SNM Resolución No. 4803 of 30 March 2012, published in Gaceta Oficial Digital No. 27010 on 9 April 2012, both dates are correct: the first is the resolution, the second its publication"],"benefits":["Permanent and indefinite from the date of grant, with no renewal (Resolution 4803; treaty art. 1(3)). Other foreigners on the Friendly Nations route receive a two-year provisional permit first.","No minimum investment: the purpose may be an economic or professional activity of any kind (Resolution 4803, fourth clause). Friendly Nations requires USD 200,000 in real estate or a three-year fixed deposit, or a qualifying job; the Qualified Investor route starts at B/.300,000.","Exemption from the repatriation deposit that other foreigners must post (Resolution 4803, third and fourth clauses).","The application may be lodged at a Panamanian consulate, or the consular section of Panama's embassy, in the applicant's country of origin or residence, so from Italy before relocating (Resolution 4803, sixth clause).","A treaty right to enter, remain and establish oneself in Panama (treaty art. 1(1)), and national treatment for contracts and for owning movable and immovable property, subject to national-security exceptions."]}],"family_pricing":{"investment_covers_family":true,"single_applicant":300000,"currency":"USD","family_size_cap":null,"family_note":"One qualifying investment covers the applicant; dependants are added with B/. 1,000 each (plus the B/. 1,000 repatriation deposit, article 11 of Decree 17) and there is no family-size cap — no 'family of 4' price exists (Decree 17, Gaceta Oficial 30613, 16 Sep 2026, https://www.gacetaoficial.gob.pa/storage/gacetas/2026/09/30613/GacetaNo_30613_20260916.pdf, verified 2026-10-03).","model":"single-investment-covers-family (dependants added with statutory fees)","included_members":"spouse; dependent children; further children and a later spouse may be added after approval under article 17","fees_usd":"B/. 5,000 to the National Treasury plus B/. 5,000 repatriation deposit to the Servicio Nacional de Migracion for the main applicant; B/. 1,000 plus B/. 1,000 for each dependant (article 11 of Decree 17)","deadline_note":"No deadline applies. Standing thresholds under Decree 17: first-sale property B/. 300,000; resale property B/. 500,000; securities B/. 500,000; fixed deposit B/. 750,000, or B/. 500,000 at Banco Nacional de Panama or Caja de Ahorros. Qualified Investor grants permanent residency on first approval; naturalisation may be sought after five consecutive years of residence.","source_url":"https://www.gacetaoficial.gob.pa/storage/gacetas/2026/09/30613/GacetaNo_30613_20260916.pdf","verified_date":"2026-09-22"},"processing_time":"30 to 90 days in practice (range reported by Panamanian legal practitioners). Statutory maximums under Article 15 of Executive Decree 17: up to 15 business days for the Ministry of Commerce and Industries to issue the investment certification once the file is admitted, and up to 30 business days for the Servicio Nacional de Migracion to decide a complete application.","visa_free_count":null,"passport_index_rank":null,"key_destinations":null,"travel_access":null,"minimum_stay":"No minimum stay is set (Decree 17 sets none for Qualified Investors). However, the Director of the Servicio Nacional de Migración may cancel a permanent residence after an absence from Panama of more than two years, unless the absence is justified and authorised (Decreto Ley 3 of 2008 art. 31(3): 'En el caso de residentes permanentes, ausentarse del territorio nacional por más de dos años, salvo que tal ausencia sea justificada y autorizada'; 2008 text read 2026-10-09, later amendments not checked). Qualified Investors must also complete biometric registration with the SNM in person before any card is issued (Decree 17 art. 16).","tax_note":"income tax: Progressive rates on Panama-source income only: 0% up to USD 11,000; 15% on USD 11,000-50,000; 25% above USD 50,000.; CGT: Capital gains on Panama-source assets are taxable. A gain on selling Panamanian real estate outside the seller's ordinary business is taxed at 10%, with a mandatory 3% advance on the higher of sale price or cadastral value, which the seller may elect as the final tax. Foreign-source capital gains are not taxed under territoriality.; inheritance tax: No inheritance or estate tax in Panama (abolished from 1 January 1986); the gift tax was also repealed in 2002.","path_to_citizenship":"Naturalisation is governed by article 10 of the Constitution, which sets three routes: five consecutive years of residence, with an express declaration renouncing the nationality of origin and proof of Spanish and of basic knowledge of Panama's geography, history and political organisation; three consecutive years for a foreigner with a Panamanian spouse, or with children born in Panama to a Panamanian parent; and, on a reciprocity basis, nationals by birth of Spain or of a Latin American state. There is no citizenship by investment. Italian nationals are not on the reciprocity list, so they naturalise after five years, or three through a Panamanian spouse or children; no treaty shortens the period. Italian law lets a citizen who acquires another nationality keep Italian citizenship, which is lost only by the citizen's own renunciation (Law 91/1992, art. 11). How Panama's renunciation declaration applies in a particular case should be confirmed with counsel.","highlights":["Direct permanent residency; statutory maximums of 15 business days for the MICI certification and 30 business days for the migration decision (Decree 17 art. 15)","Territorial tax, foreign income untaxed"],"atomic_answer":"Panama’s Qualified Investor route grants direct permanent residency under Executive Decree 17 of 8 September 2026. New first-sale property starts at USD 300,000 and resale property at USD 500,000, with USD 500,000 on the securities market or a five-year fixed deposit of USD 750,000, reduced to USD 500,000 at Banco Nacional de Panamá or Caja de Ahorros. There is no deadline on these amounts; naturalisation is possible after five consecutive years.","fees":{"due_diligence":null,"processing":null,"interview":null,"certificate":null,"application_main":5000,"application_dependent":1000,"notes":"Real estate also carries a property-transfer tax and registration and notary costs on top; where a commercial valuation is required under article 6 of Decree 17, its cost is borne by the applicant. (unverified)"},"last_updated":"2026-10-10","data_freshness":{"verification_confidence":77,"last_verified":"2026-10-09","last_corroborated":"2026-10-01","fields_tracked":6,"stale_fields":0,"fields_with_homepage_only_source":4},"mirabello_index":{"composite":78.6,"rank_overall":28,"rank_in_type":22,"scores":{"cost":66,"speed":100,"tax":85,"stability":71},"confidence":0.57},"regulatory_status":{"fatf_list":null,"eu_tax_list":"annex_i","us_sanctions":null,"oecd_crs_high_risk_scheme":true,"as_of":"2026-06","note":"Factual status as published by the FATF and the EU Council. Inclusion reflects AML/CFT or tax-governance work programmes, changes regularly (several reputable jurisdictions have been listed and delisted), and its practical impact varies by use-case. Always linked to the official source.","sources":["https://www.oecd.org/en/topics/sub-issues/international-standards-on-tax-transparency/residence-citizenship-by-investment.html","https://www.consilium.europa.eu/en/policies/eu-list-of-non-cooperative-jurisdictions/"],"oecd_crs_note":"Names JURISDICTIONS whose investment-migration schemes meet OECD risk criteria for circumventing Common Reporting Standard tax reporting (low/no personal income tax on offshore assets + <90 days physical presence). It is a tax-transparency monitoring list, NOT a statement on programme legitimacy; in practice financial institutions apply additional residence/tax checks to documents from these schemes."},"processing_stages":["1. Make the qualifying investment (real estate / securities / fixed deposit) with funds wired from abroad and obtain proof.","2. Compile due-diligence documents (passport, apostilled background check, health certificate, proof of source of funds, investment evidence).","3. File the permanent-residency application with the Servicio Nacional de Migracion via a Panamanian lawyer (power of attorney).","4. Receive provisional ID and undergo review (legal maximum 15 business days MICI + 30 business days SNM under Decree 17 art. 15; 30 to 90 days reported in practice).","5. Approval as PERMANENT resident on first decision (Qualified Investor route); collect residency card (cedula E).","6. Maintain investment for 5 years; after ~5 years of residence, optionally apply for naturalisation."],"required_documents":null,"biometric_enrolment":null,"dependant_additions":null,"nationality_naturalisation":{"years_of_permanent_residence":{"1":["SV"],"2":["AR","CO","EC","ES","HN","MX","NI","PE"],"3":["UY"]},"default_years_for_unlisted":5,"basis":"Constitution of Panama art. 10(3): nationals by birth of Spain or of a Latin American state may naturalise on the same terms their country applies to Panamanians. SNM publishes the resulting reciprocity list, expressed as years of permanent residence in Panama.","note":"Every nationality not on this list, Italy included, naturalises on the ordinary five consecutive years (art. 10(1)), or three through a Panamanian spouse or children (art. 10(2)). The shortened route requires nationality by birth, not by naturalisation. Colombia: an older SNM sheet lists it at one year (Ley 43 of 1993); the current version cites Ley 2332 of 2023 at two years, and the newer, more conservative figure is used."},"region":null,"family":{"id":"panama-rbi","country_code":"PA","family_model":"both","relatives":{"spouse":{"eligible":true,"unmarried_partner":null,"same_sex":null,"min_age_inclusive":null,"conditions":"Spouse included; a spouse by marriage after approval can be added (art. 17)."},"children":{"eligible":true,"max_age_inclusive":null,"age_rule_text":"Decree 17 text on child age not re-read; KB eligibility says 'minors and dependent full-time students, typically up to 25' (unsourced to an article)","age_measured_at":null,"adult_child_max_age_inclusive":null,"adult_child_conditions":"Dependent children; students up to about 25 per KB (unverified)","step_adopted":"Later adoption allowed to add child (art. 17 per KB)","disabled_child_any_age":null,"age_bands_for_fees":[]},"parents":{"eligible":null,"conditions":"KB: 'in some cases dependent parents'; not confirmed in Decree 17 reading."},"grandparents":{"eligible":null},"siblings":{"eligible":null},"other":{"eligible":null}},"timing":{"together_with_main_applicant":true,"add_later":true,"add_later_conditions":"Qualified investor who keeps the investment may add new children (birth or later adoption) and a spouse by a marriage after approval (art. 17).","add_later_deadline":"None stated (KB: no deadline)","after_approval_births_marriages":"Yes, art. 17: B/. 1,000 + B/. 1,000 per added dependant; dependant receives permanent residence card","age_out_during_processing":null},"costs":{"currency":"PAB (par with USD)","contribution_includes_family":"One qualifying investment covers the family; no family-size cap","per_category":{"spouse":2000,"child_under_18":2000,"child_18_plus":2000,"parent":null},"government_fees":[{"item":"Main applicant: National Treasury","amount":5000,"currency":"PAB","applies_to":"principal"},{"item":"Main applicant: repatriation deposit (SNM)","amount":5000,"currency":"PAB","applies_to":"principal"},{"item":"Per dependant: National Treasury","amount":1000,"currency":"PAB","applies_to":"each dependant, at application or added later"},{"item":"Per dependant: repatriation deposit (SNM)","amount":1000,"currency":"PAB","applies_to":"each dependant"}],"due_diligence_per_adult":null,"notes":"Qualifying investment thresholds per KB: first-sale property 300,000; resale 500,000. Professional fees extra."},"dependants_status":{"residence_obligation":"Investment kept 5 years with annual proof to MICI (art. 12)","work_rights":null,"independent_after":null,"citizenship_path":"Naturalisation after 5 years' residence, 3 with Panamanian spouse/children (Constitution art. 10); not derivative","if_principal_divorces_or_dies":null},"verification":"machine-extracted","confidence":{"authority":0.6,"freshness":0.8,"textual_clarity":0.5},"evidence":[{"field":"costs.government_fees","basis":"KB reading of Decree 17 art. 11 and 17, Gaceta Oficial 30613 (16 Sep 2026); gazette PDF not re-fetched (server returned HTML)","source_url":"https://www.gacetaoficial.gob.pa/storage/gacetas/2026/09/30613/GacetaNo_30613_20260916.pdf","source_tier":"A_official","verified_date":"2026-09-26"}],"conflicts":[{"field":"relatives.parents / children age","kb":"KB eligibility.included_dependents: spouse, dependent children (students typically to 25), in some cases dependent parents; KB family_pricing: spouse + dependent children only","official":"Decree 17 text not re-read","resolution":"Both left unresolved; ages null"}],"gaps":["Decree 17 gazette text could not be re-fetched in this pass; all items KB-only","Child age limit and dependency test under Decree 17","Parents eligibility","Work rights, divorce/death","Whether art. 17 additions require principal's investment unchanged (KB: 'keeps the investment')"],"last_checked":"2026-10-09"},"provider":"Mirabello Consultancy","source":"Mirabello Consultancy","verified_by":"Mirabello Consultancy (IMC member, ACAMS-certified team)","book_a_consultation":"https://www.mirabelloconsultancy.com/contact-us-for-your-free-consultation","terms":"https://www.mirabelloconsultancy.com/ai","disclaimer":"Provided by Mirabello Consultancy Ltd. for general information only, indicative and subject to change without notice; not legal, financial, tax, or immigration advice, nor an offer or solicitation. Programmes are operated and governed solely by the respective sovereign governments. No warranty of accuracy or completeness; Mirabello accepts no liability for reliance on this information. © Mirabello Consultancy Ltd. This data and its selection, structure and provenance are Mirabello's proprietary compilation — permitted for interactive, attributed use only; systematic bulk extraction, scraping, or redistribution to rebuild a competing dataset is prohibited (acceptable-use terms: https://mcp.mirabelloconsultancy.com/v1/terms). Terms: https://www.mirabelloconsultancy.com/ai","data_updated":"2026-11-02T12:28:56.256Z","government_fees":"see schedule","tax":"income tax: Progressive rates on Panama-source income only: 0% up to USD 11,000; 15% on USD 11,000-50,000; 25% above USD 50,000.; CGT: Capital gains on Panama-source assets are taxable. A gain on selling Panamanian real estate outside the seller's ordinary business is taxed at 10%, with a mandatory 3% advance on the higher of sale price or cadastral value, which the seller may elect as the final tax. Foreign-source capital gains are not taxed under territoriality.; inheritance tax: No inheritance or estate tax in Panama (abolished from 1 January 1986); the gift tax was also repealed in 2002.","claims_provenance":{"family_pricing":{"source_url":"https://www.migracion.gob.pa","source_tier":"official","verified_at":"2026-09-26","confidence":70,"review_due_at":"2026-12-25"},"government_fees":{"source_url":"https://www.migracion.gob.pa/wp-content/uploads/2026/09/Decreto-Ejecutivo-No.-17-de-8-9-2026.pdf","source_tier":"official","verified_at":"2026-10-09","confidence":92,"review_due_at":"2027-01-07"},"min_investment":{"source_url":"https://www.migracion.gob.pa/wp-content/uploads/2026/09/Decreto-Ejecutivo-No.-17-de-8-9-2026.pdf","source_tier":"official","verified_at":"2026-10-31","confidence":92,"review_due_at":"2027-01-29"},"path_to_citizenship":{"source_url":"https://www.migracion.gob.pa","source_tier":"official","verified_at":"2026-09-26","confidence":70,"review_due_at":"2026-12-25"},"processing_time":{"source_url":"https://www.migracion.gob.pa","source_tier":"official","verified_at":"2026-09-26","confidence":65,"review_due_at":"2026-12-25"},"tax":{"source_url":"https://www.migracion.gob.pa","source_tier":"official","verified_at":"2026-09-26","confidence":70,"review_due_at":"2026-12-25"}}}