The acquisition of a real estate unit in Panama allows you to qualify for a Permanent Resident Visa according to Executive Decree 722 of October 15, 2020
According to Executive Decree No. 722 of October 15, 2020, the Permanent Resident Permit in Panama is created as a Qualified Investor for real estate investment through a promise of purchase and sale contract in Panama, under the following conditions:
Eligibility Conditions: A foreign person who makes investments through a promise of sale contract for the acquisition of a real estate property, for the amount of five hundred thousand dollars (US$500,000.00), made through a trust deposit managed by a local bank or trust company, licensed to operate in the Republic of Panama, will be eligible to apply for the Permanent Resident Permit as a Qualified Investor.
During the first twenty-four (24) months after the entry into force of Executive Decree No. 722 of October 15, 2015, which was published in Official Gazette No. 29,136 of October 16, 2020, that is, until October 16, 2022, the investment for reasons of real estate investment, directly or through contracts of promise of purchase and sale, for the purposes of the Permanent Residence Permit, as a Qualified Investor, may be for the amount of three hundred thousand dollars (US$300,000.00), in the acquisition of a real estate property in the Republic of Panama, which must be free of assessment. If the real estate has a higher value, the excess may be financed through a mortgage loan granted by a local bank or financial institution.
For any questions or additional information about the requirements and costs related to obtaining a Permanent Resident Permit in Panama for Real Estate Investment, please do not hesitate to contact us at residenciapermanente@rigrouppanama.com
According to Executive Decree No. 722 of October 15, 2020, the Permanent Resident Permit is created as a Qualified Investor for real estate investment in Panama, under the following conditions:
Eligibility Conditions: A foreign person who invests the amount of five hundred thousand dollars (US$500,000.00) in the acquisition of a real estate property in the Republic of Panama, which must be free of assessment, will be eligible to apply for the Permanent Resident Permit, as a Qualified Investor. In the event that the applicant certifies that he/she has paid the amount of five hundred thousand dollars (US$500,000.00) in a real estate property and if this property is of a higher value than the required amount, he/she may finance the remainder through a mortgage loan with a local bank.
During the first twenty-four (24) months after the entry into force of Executive Decree No. 722 of October 15, 2015, which was published in Official Gazette No. 29,136 of October 16, 2020, that is, until October 16, 2022, the investment for reasons of real estate investment, directly or through contracts of promise of purchase and sale, for the purposes of the Permanent Residence Permit, as a Qualified Investor, may be for the amount of three hundred thousand dollars (US$300,000.00), in the acquisition of a real estate property in the Republic of Panama, which must be free of assessment. If the real estate has a higher value, the excess may be financed through a mortgage loan granted by a local bank or financial institution.
For any questions or additional information about the requirements and costs related to obtaining a Permanent Resident Permit in Panama for Real Estate Investment, please do not hesitate to contact us at residenciapermanente@rigrouppanama.com
The government of the Republic of Panama, has established a new immigration status that allows foreigners of certain nationalities to establish their permanent residence in the Republic of Panama.
Executive Decree 197 of May 7, 2021, were modified and added items to the Executive Decree No. 416 of June 13, 2012, which creates within the immigration status of permanent resident a subcategory, Permanent Resident as foreign citizens of specific countries that maintain friendly, professional, economic and investment relations with the Republic of Panama, commonly known as the “Friendly Countries Visa”.
These new rules will take effect ninety (90) days from its promulgation by the Official Gazette No.29, 290-A of 20 May 2021, that is from the August 20, 2021.
To qualify you must make an investment in real estate for a minimum value of US $ 200,000.00, a business that may be financed through a local bank.
The abroad must be from one of the following nations with which Panama keeps friendly, professional, economic and investment relationships: United Kingdom of Great Britain and Northern Ireland, Federal Republic of Germany, Republic of Argentina, Confederation of Australia, Republic of Korea, Republic of Austria, Federative Republic of Brazil, Belgium, Canada, Spain, United States of America, Slovak Republic, French Republic, Republic of Finland, Kingdom of the Netherlands, Republic of Ireland, Japan, Kingdom of Norway, Czech Republic, Swiss Confederation, Republic of Singapore, Uruguay, Republic of Chile, Sweden, Republic of Poland, Hungary, Hellenic Republic ( Greece), Portugal, Republic of Croatia, Republic of Estonia, Republic of Lithuania, Latvia, Republic of Cyprus, Republic of Malta, Republic of Servia, Republic of Montenegro, Denmark, Republic of South Africa, New Zealand, Hong Kong, Luxembourg, Liechtenstein , Monaco, Andorra, the Serene Republic of Marino and the Republic of Costa Rica.
For any questions or additional information about the requirements and costs related to obtaining a Permanent Resident Permit in Panama for Real Estate Investment, please do not hesitate to contact us at residenciapermanente@rigrouppanama.com
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You have several options to get permanent residency in Panama.
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Panama, a beautiful country of countless value, enjoy the Panama Canal, the beautiful beaches, its culture, art, its cosmopolitan city, and its stable and strong financial system.
Thanks to its privileged geographical position, Panama has become one of the most important business centers in the American Continent, with vast experience in areas such as logistics, banking, finance, customer service, which added to its economic stability, makes it one of the most attractive and safe destinations for investment and housing in Latin America.
There are more than 30 laws and decrees that offer special incentives in different sectors such as tourism, export zones, mining, reforestation, insurance and reinsurance, agro-industry, oil-free zones, infrastructure, construction, real estate and many more. This allows a stable and diversified flow of income and foreign exchange.
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Panama has the US dollar as its currency, a connectivity that goes far beyond geographical location, such as the Panama Canal and the Tocumen International Airport, the expansion of ports and a strong and stable International Banking Center.
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