PanExpats
Sign Up

The $300,000 residency route isn't ending on 15 October

Updated 12 October 2026

Panama's Qualified Investor residency, the investment route that leads directly to permanent residency, is not changing on Thursday, 15 October. Some outdated reports still say the $300,000 real estate minimum ends that day and rises to $500,000. That is not what the rules in force say.

The program is now governed by Executive Decree 17 of 8 September 2026, published in the Gaceta Oficial (Official Gazette) No. 30613 on 16 September 2026. It replaced the earlier rules from 2020, 2022 and 2024 in full (Art. 20) and took effect on publication (Art. 21). We read the full decree text and found no expiry date for the $300,000 tier and no step-up scheduled for 15 October (Gaceta Oficial).

What actually changed, and when

The change came on 16 September, and it was narrower than the rumor:

  • A new, unoccupied home bought from the developer (a "first sale") still qualifies at B/. 300,000 (Art. 4a).
  • A resale home, meaning one previously sold, occupied, rented or transferred to an unrelated third party, now needs B/. 500,000 (Art. 4b).
  • A new option lets you qualify with a B/. 500,000 fixed-term deposit at Banco Nacional de Panamá or Caja de Ahorros, the two state banks (Art. 9b).

The Ministry of Commerce and Industries (MICI), which certifies the investments, said the decree "mantiene en B/.300,000 la inversión mínima en inmuebles de primera venta" (keeps the minimum for first-sale property at B/. 300,000) (MICI). The balboa (B/.) trades at par with the US dollar.

Minimums by route (Decree 17)

  • New home, first sale from the developer: B/. 300,000 (Art. 4a)
  • Resale home (secondary market): B/. 500,000 (Art. 4b)
  • Off-plan purchase under a promise-of-sale contract: B/. 300,000 (Art. 7)
  • Panamanian securities through a licensed brokerage: B/. 500,000 in total, held 5 years (Art. 8)
  • Fixed-term deposit at a private bank: B/. 750,000, held 5 years (Art. 9a)
  • Fixed-term deposit at Banco Nacional or Caja de Ahorros: B/. 500,000, held 5 years (Art. 9b)

For both property routes, the decree counts the lower of the price you actually paid and the property's documented market value, minus any liens. That figure must reach the minimum (Art. 5). A resale home bought for $550,000 but valued at $480,000 would fall short, as two law firms' example shows (Icaza, EDTIJ).

If you were already in the process

The decree's transition rules are the part most likely to matter if you started before 16 September (Art. 18 and 19). In plain terms, as we read them:

  • Already filed before 16 September 2026: if your application was filed with MICI or the National Immigration Service (SNM) before that date, it is decided under the requirements and amounts in force when you filed. More favourable procedural rules can still apply (Art. 19).
  • Bought or signed before 16 September, not yet filed: investments and binding contracts completed before that date can still use the old rules, where any property counted at $300,000, if you file within six months of the decree taking effect (Art. 19). Legal advisers put that deadline at 16 March 2027 (iurispa, Mirabello).
  • Investment certificates already issued stay valid until they expire (Art. 19). New ones are valid for three months (Art. 3).
  • Switching from economic solvency residency: if you held, or had a pending application for, permanent residency for own economic solvency (Solvencia Económica Propia) on 16 September, you can ask to switch to Qualified Investor within 12 months. You must meet the new minimums, and investments made before 15 October 2020 do not count (Art. 18).

Timelines and costs

The decree sets maximum times of 15 business days for MICI to issue the investment certificate once a complete file is admitted, and 30 business days for SNM to decide (Art. 15). The government payments are B/. 5,000 to the National Treasury plus a B/. 5,000 repatriation deposit to SNM for the main applicant, and B/. 1,000 plus B/. 1,000 for each dependent (Art. 11). Lawyer fees are extra.

You must keep the investment for five years and prove it to MICI every year (Art. 12). Off-plan purchases can support your residency for at most three years in total (Art. 7).

What it means for expats

Who this affects:

  • Anyone planning to buy property in Panama for residency. Whether the unit is new or resale now changes the minimum by $200,000.
  • Buyers who closed or signed before 16 September and have not filed yet. Your clock is running.
  • People on economic solvency residency who could move to direct permanent residency.
  • Investors who prefer a deposit to property. The state-bank option starts at $500,000.

What to do now:

  • Don't rush a purchase or a filing to beat 15 October. That date has no legal effect under the decree in force.
  • Before you negotiate, confirm with the developer and your lawyer whether the unit counts as a first sale. Ask for proof, since the decree expects a Public Registry certificate and, where relevant, construction or occupancy permits (Art. 4).
  • Check that the net value, after liens and against the market value, clears the minimum (Art. 5).
  • If you bought or signed before 16 September, ask your lawyer to file well before the six-month window closes.
  • Confirm with a licensed Panamanian lawyer. Each case depends on its facts and the final reading of SNM and MICI.

The documents to expect (Art. 2, 3, 4, 6, 8, 9 and 11):

  • Proof that the funds are your own and came from abroad, through a bank letter, an authenticated bank statement or a notarized letter with bank certification. Gifts and donations do not count.
  • For property: a Public Registry certificate, ANATI's cadastral certificate, and possibly an independent appraisal issued within the last six months if MICI asks for one.
  • For securities: a certificate from the licensed brokerage and the related Superintendency records.
  • For deposits: an original bank certificate and an authenticated copy of the deposit certificate, with funds sent by international SWIFT transfer.
  • If you invest through a company or foundation: proof that you are the final beneficial owner and control it.
  • The general requirements of Article 28 of Decree-Law 3 of 2008, except item 4, as the decree requires (Art. 11). Legal advisers list these as a passport, an apostilled criminal record certificate, a health certificate and a power of attorney for a Panamanian lawyer (iurispa). Add the government payments above.

For the full new rules, see our earlier story on Decree 17.

This article is general information, not legal advice. Rules and their interpretation can change. Confirm your situation with a licensed Panamanian lawyer before you invest.

Sources

  • Gaceta Oficial - Decree 17 of 2026 full text: thresholds, transition rules and entry into force - 16 Sep 2026
  • Gaceta Oficial - Decree 193 of 2024: B/. 300,000 real estate minimum under the old rules, no new or resale split - 15 Oct 2024
  • MICI - Minimum for first-sale property stays at B/. 300,000; new state-bank deposit option - 28 Sep 2026
  • Procuraduría de la Administración (Infojurídica) - Decree 17 replaces Decree 722 of 2020 - Sep 2026
  • Icaza, González-Ruiz & Alemán - Route minimums, valuation rule and example - Sep 2026
  • Morgan & Morgan - Route minimums and transition rules - 17 Sep 2026
  • EDTIJ - No expiry date for the B/. 300,000 tier in the decree; net-value example - 20 Sep 2026
  • iurispa - Six-month window read as 16 March 2027; general filing requirements - Sep 2026
  • Mirabello Consultancy - Six-month window read as 16 March 2027 - 26 Sep 2026
  • PanExpats - Qualified Investor residency reset: new thresholds in Decree 17 - 16 Sep 2026