_edited.png)
Introduction
While second residency options in countries like Portugal and Greece are growing, Panama has long been known for its high-end real estate and development opportunities. Then, in 2005, the country passed a law that made it easier for foreigners to gain permanent residency by investing in local real estate. There are four ways to qualify for Panama's Law No. 54 of 2005, also called the Qualified Investor Permanent Residency program, which offers benefits such as tax breaks and property ownership privileges. If you're interested in owning a home abroad but don't know where to start looking at properties or how to get set up with legal counsel, this article will help guide you through the process of obtaining permanent residency through investment in Panama.
Requirements for Obtaining Permanent Residency in Panama Through Direct Investment
When you want to obtain permanent residency in Panama, you can do so through investment. The process is called the golden visa program, and it’s a popular way for investors to get their status. There are several requirements for obtaining permanent residency under this program:
The minimum investment amount is $300,000 USD Until October 2022 (Thereafter the minimum amount will be set at $500,000 USD).
Investing in Panama is a smart way to get a second residency.
Investing in Panama is a smart way to get a second residency. It's easy, it doesn't require you to live there and it can help diversify your assets.
You may not know this, but many countries offer investment programs that give foreigners second residencies based on their investment size. The best known of these are the so-called “golden visas”: Spain, Portugal and Bulgaria as well as Russia and Hungary (to name just a few).
Panama has also been offering its own version since 2014 under its new Law No 5 of 2014 on Investment Incentives (“Ley de Inversiones y Empleo” or “LIEN”). The LIEN program allows foreigners who invest at least $100 thousand dollars in Panama through one of the qualifying investments to apply for permanent residency within 90 days of making said investment.
Conclusion
If you have any questions about the process of applying for permanent residency in Panama through direct investment, feel free to contact us. We can help you figure out if this path is right for you, and if so, what steps to take next.
