Panama Residency Demand Up 39%

Panama issued 268 Qualified Investor certificates between July 2025 and June 2026, up 39% on the 193 issued a year earlier, according to the Ministry of Commerce and Industries (MICI).

Panama has moved steadily up the list of programs our clients ask about first, and the official numbers now show the same shift. The investment behind those certificates reached US$113.6 million, more than US$23.4 million above the previous 12 months.

Investors from North America, Latin America, Europe and Asia used the Panama Golden Visa to secure permanent residency through property, securities and bank deposits. The balboa is pegged one-to-one to the US dollar, so the figures read the same in either currency.

The Pace Of Approvals Is Picking Up

The annual total is only part of the picture. The speed at which certificates are now being issued shows how much the program has accelerated.

MICI issued an average of 22 certificates a month in the year to June 2026, up from 16 a month in the year before. Its statistics dashboard records 33 certificates in September 2026 alone, backed by US$10.1 million of investment. That’s roughly double the monthly average of the year to June 2025.

Katherine Cardoze, MICI’s national director of investments, credited a new digital platform for Qualified Investor applications. She said it has sped up the handling of applications and doubled the number of certificates issued each month. MICI also pointed to stronger promotion of the program in key markets.

For investors, faster processing shortens the gap between committing capital and holding residency. Panama’s updated rules now give MICI 15 business days to issue its investment certification and the National Migration Service 30 business days to decide on a complete file.

Property Remains The Route Of Choice

Real estate accounted for 87.3% of certificates issued in the year to June 2026, up from 85.5% the year before. Fixed-term deposits made up 7.5% and securities 5.2%.

MICI’s dashboard shows 924 certificates on its register to date, carrying US$444.7 million of investment. Property accounts for 792 of them and US$359.6 million of that capital. Of those property certificates, 550 came from direct purchases and 242 from purchases made through a promise-of-sale contract, the agreement buyers sign when purchasing a new-build or off-plan unit from a developer.

The September figures suggest that off-plan share is rising. Property accounted for 31 of the 33 certificates issued that month, and 11 of those came through promise-of-sale contracts. That’s a third of the month’s certificates, compared with 26.2% across the register as a whole.

This matters because new-build and off-plan property is where Panama’s lowest entry point sits. Investors buying first-hand from a developer qualify from US$300,000, and the property can earn rental income throughout the five-year holding period. Many of our clients like that combination of a residency and a tangible dollar-denominated asset that works for them while they hold it.

The deposit route asks for more capital and holds it in cash for the term. A deposit at Banco Nacional de Panamá or Caja de Ahorros qualifies at US$500,000, while a private bank deposit requires US$750,000. The average deposit certificate on MICI’s register stands at about US$764,000.

Who Is Investing In Panama

MICI received applications from investors across the Americas, Europe and Asia over the past year. Source countries included the US, Canada, Colombia, Mexico, Brazil, Spain, Germany, Switzerland and China.

American investors are a pattern we see regularly among those speaking with our team about Panama. La Vida’s own survey of US investors found that 76.4% named a Plan B back-up option as a main goal, and 85.1% cited political concerns. Panama offers a dollar economy, a short flight from most US cities and permanent residency from the day of approval, which makes it a natural fit for that brief.

What The September Decree Changed

Executive Decree No. 17 came into force on 16 September 2026 and updated the Qualified Investor Program’s rules. MICI said the changes support its aim of attracting productive investment and creating jobs.

The main changes are:

• New property bought first-hand from a developer, including off-plan, still qualifies from US$300,000
• Resale property now requires US$500,000
• Buyers who signed a resale purchase contract before 16 September have six months to file under the previous rules
• A US$500,000 deposit option is now available at Banco Nacional de Panamá and Caja de Ahorros, with private bank deposits at US$750,000
• A wider range of securities now qualifies
• MICI and the National Migration Service now work to fixed processing deadlines

How The Panama Golden Visa Works

The Qualified Investor Program is a Residency by Investment program, and its main features are:

• Permanent residency granted on approval, with no temporary residency stage
• Qualifying routes through real estate, securities or fixed-term bank deposits
• The investment must be held for at least five years
• It’s possible to apply for citizenship after five years of residence, although approval is at Panama’s discretion
• A dollar-pegged currency, which removes exchange-rate risk for US-based investors

Panama is the program many of our Latin America-focused clients start with, and it sits alongside the other residency routes La Vida advises on. Investors looking for a European base often consider the Portugal Golden Visa and the Greece Golden Visa, while the UAE Golden Visa suits those who want a foothold in the Gulf.

For investors whose priority is a second passport rather than residency, the Caribbean Citizenship by Investment programs in Grenada, Antigua and Barbuda, St Kitts and Nevis, St Lucia and Dominica offer a direct route.

What This Means For Investors

Panama’s numbers point the same way on every measure. More certificates are being issued, more capital is coming in, processing is faster and the property route continues to dominate.

The September decree has also given investors clear published terms, with US$300,000 still the entry point for new property. Panama reviewed its rules this year and will continue to do so, as every program does over time. That’s why many of our clients prefer to act on terms they can see today rather than wait for the next update.

If you’re considering the Panama Golden Visa, La Vida’s expert advisers can talk you through the right property route for your circumstances, alongside our other residency and citizenship programs.

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