Panama is a fast-growing economy in Latin America thanks to its vibrant services sector (banking, insurance, international trade, etc.) Its favorable tax laws and stable economy make it a highly attractive hub for international investment. If you're a business owner interested in investing or banking in Panama, maybe you're wondering whether you can get a qualified investor visa. Indeed, you can as long as you meet the eligibility requirements.
What Is a Qualified Investor Visa?
A qualified investor visa is a residency by investment program. It requires you to invest in one of three investment options for at least five years. You must also visit once in two years. Then once you have been a permanent resident for five years, you can apply for citizenship.
Introduced in October 2020, the program allows you to gain permanent residency within 30 days if your application is successful. If you're eligible to apply, you can complete the process remotely without coming to Panama.
To qualify, you must be aged at least 18 with a clean criminal record. You should also provide personal documents like a national ID, birth certificate, passport, marriage certificate (if married), and proof of investment.
Investment Options for Qualified Investor Visa
To get a qualified investor visa, you should invest in any of the following investments for at least five years.
- Real estate — Invest at least USD 500,000 in real estate
- Securities — Invest a minimum amount of USD 500,000 in the stock market through a qualified Panamanian brokerage firm
- Fixed deposit — Deposit a minimum of USD 750,000 in an approved Panamanian bank
Note that all your investment funds must be foreign-sourced, i.e., the income should come from sources outside Panama.
Benefits of Applying for Panama’s Qualified Investor Visa
Whether you want to explore banking in Panama, invest in the real estate, or invest the securities market, getting a qualified investor visa has numerous benefits, including:
- Minimal residency requirements
- Fast processing (within 30 days)
- Permanent residency upon successful application
- Family members are eligible
- Attractive tax incentives
- Path to citizenship (after five years)
- Remote application
In addition, you don't have to live in Panama once you obtain a qualified investor visa. Your permanent residency remains active as long as you visit at least once in two years. But if you do relocate to the country, you get a chance to enjoy the low cost of living and improved security.
Alternative: Macro Enterprise Investor Visa
If you're interested in incorporating a business in Panama, you can apply for a macro enterprise investor visa instead. Unlike the qualified investor visa, this program allows you to invest a minimum of USD 160,000 in an incorporated business (new or existing). The business must create at least five jobs (full-time) for Panamanians. Also, the employees should earn at least the minimum wage set by law and be registered with social security.
Should you want a permanent residency visa, you can apply after two years and later citizenship after five years. And if you wish to bring your family along, your spouse and dependent children aged up to 25 qualify. This requires an additional investment of USD 2,000 for each dependent.
Qualified Investor Visa: Easy Path to Banking in Panama for Business Owners
If you're a business owner desiring to get a qualified investor visa in Panama, you can do so by investing in any of the three options — real estate (at least USD 500,000), securities (at least USD 500,000), or banking (at least USD 750,000). Alternatively, if you want to incorporate a business, you can do so by investing at least USD 160,000 to get the macro enterprise investor visa.
Interested in any of the programs? Contact a local residency services firm today for assistance.
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