Moderators Moderator_03 Posted October 18 Moderators Share Posted October 18 Quote PANAMA QUALIFIED INVESTOR VISA OF OCTOBER 15 2020 – Possible Changes October 16, 2024 Overview The Panama Investor Visa, established by Executive Decree 722 on October 15, 2020, created a new category of permanent residency for economic reasons. Through this program, the applicant can become a permanent resident by making a qualified investment in Panama, including the following options: Real Estate: Invest US $300,000 (until October 2024), or US $500,000 afterwards, free of liens. The investor must hold the property for a term of 5 (five) years. Real Estate projects in pre-sale: sign a purchase and sale contract for the sum of US$500,000 or more, free of liens. Investment in the Panamanian Stock Market: Purchase securities through a qualified and licensed Panamanian brokerage firm, for US $500,000 or more, for a term of 5 (five) years. Fixed term deposit in the Banking Sector: open a time deposit of US $750,000 or more, free of liens, in a qualified Panamanian bank, for a term of 5 (five) years. We are now looking at an extension to this Investor Visa: Speak to your Panama lawyer regarding the government of Panama proceeding or not proceeding with the published price increase to their Qualified Investors Visa. It was to be raised as of October 24th raising the cost of housing from $300,000 to $500,000 in order to get residency. It still remains in effect but with exceptions and may involve dependents according to some law firms, but we will keep in touch with them to find out more for you. We are hoping that all will stay at the same $300k USD price point for real estate investments! You can purchase a place in Panama, either as an investment property or as a home to live in, and we hope that it can be secure for you to receive instant permanent residency in this beautiful, safe, and potentially tax-free country of ours known as Panama. This could be a massive win for outside communities and those wanting to live here in Panama. Be aware that there are a lot of fake salesmen and companies trying to take your money hoping that all will be well with moving to Panama and the 300k will not be bumped to 500k but don’t listen to them. Your Panama lawyer can help you through this process of getting permanent residency in Panama. The Government of Panama does have the willingness to listen and understand that Panama cannot price itself out of the market compared to neighboring countries that are also after expats to move there. Panama also realizes that it has much going for them in this country that it is worth it to pay more for what they offer to the expat community. More to come later………. https://newsroompanama.com/2024/10/16/panama-qualified-investor-visa-of-october-15-2020-possible-changes/ Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted October 25 Author Moderators Share Posted October 25 Quote Panama Scraps Planned Increase for Real Estate Investment Visa October 24, 2024 The Government of Panama has published significant updates to its Qualified Investor Visa (also known as the Red Carpet Visa) through Decree 193, effective from October 15th, 2024. This permanent visa, originally launched to attract high-net-worth individuals by offering a fast-track route to residency, has now undergone crucial changes to its real estate investment requirements and processing options. Key Changes to the Real Estate Investment Threshold Investment Amount Reduced: The minimum required real estate investment has been lowered from $500,000 to $300,000. This amount applies whether the purchase is made directly by the individual, through a Panamanian foundation, or via a corporate entity, provided the applicant maintains beneficial ownership. Options for Investment Execution: Applicants can now make the required investment through: Completed real estate or pre-construction projects, facilitated by a promise of sale contract. Funds placed in a trust managed by a Panamanian trustee. 100% payment to the developer at the time of purchase with a bank letter of guarantee from the developer or seller on behalf of the buyer/investor. Acceptance of Co-ownership Investments: If the real estate purchase is executed personally, through a company or foundation, co-ownership arrangements are allowed between spouses or dependents. In such cases, the investment will still qualify, promoting flexibility for families or dependents applying together under the same visa. Additional Application Details The processing time remains fast, with approvals typically issued within 30 working days. The investment must be maintained for at least five years to retain residency status. Applicants and their dependents can complete the application through a Panamanian lawyer and initiate the process remotely before arriving in Panama. This adjustment reflects Panama’s intention to boost foreign investment by making the visa more accessible and attractive to potential investors. The new rules emphasize flexibility by including pre-sale projects and trust agreements, which reduce the barriers for those entering the market. For more information on these updates or to get started with your application, it’s recommended to consult with an immigration attorney familiar with the latest Panamanian regulations to ensure a smooth process and compliance with all requirements. https://newsroompanama.com/2024/10/24/panama-scraps-planned-increase-for-real-estate-investment-visa/ Quote Link to comment Share on other sites More sharing options...
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