Does Buying Property in Panama Give You Residency?

What changed in September 2026

Panama replaced its earlier investor-visa rules with Executive Decree No. 17, signed on September 8, 2026 and effective on or about September 16, 2026. Before that, any property of US$300,000 or more qualified. Under the new decree, as reported by Panamanian immigration firms:

• First-sale real estate (a new unit that has never been occupied, including pre-construction purchased from the developer): US$300,000 minimum.
• Resale real estate (a property that has previously been sold to an outside buyer, lived in or rented): US$500,000 minimum.
• The amount that counts is generally the lower of the price paid and the supported value, minus any mortgage or loan. This means financing can reduce the amount that counts toward the minimum.
• Other routes exist, such as a fixed-term bank deposit (US$750,000 in a private bank, US$500,000 in a state bank) or securities (US$500,000).

What you have to do after you buy

• Hold the investment for five years and file annual proof with Panama’s Ministry of Commerce and Industries (MICI).
• Processing: MICI has up to 15 business days to issue the investment certificate once a complete file is accepted, and the National Immigration Service then has up to 30 business days to decide.
• Government fees are reported at US$5,000 per application plus a US$5,000 refundable deposit, with US$1,000 plus a US$1,000 deposit for each dependent.
• Citizenship: after five consecutive years of residency, investors can apply for naturalization, subject to the constitutional and legal requirements.

If you already signed a contract

Investments completed, or binding purchase contracts signed, before September 16, 2026 may be handled under the old thresholds if the residency application is filed by about March 16, 2027. Applications filed before the new decree took effect stay under the rules in force when they were filed. Sources differ slightly on the exact deadline, so confirm it with an immigration attorney.

The Friendly Nations Visa: residency with a US$200,000 real estate purchase

Panama’s Friendly Nations Visa is a second route that lets citizens of eligible countries buy real estate and qualify for residency. Under this program, a real estate purchase of US$200,000 or more can be the basis for the application, and bank financing is permitted. Applicants first receive a two-year temporary residency, and after that they can apply for permanent residency by showing that they have kept meeting the requirements. The program also allows holders to obtain a Panamanian ID (cédula) and to work, and a main applicant can include a spouse, parents and children up to age 25.

Typical requirements include a passport valid for at least six months, proof of economic ties to Panama (the real estate purchase counts), proof of financial solvency, a clean criminal record certificate from the past five years, a health certificate from a Panamanian hospital or recognized health center, and the application fees. The Friendly Nations Visa is limited to citizens of the countries on Panama’s eligible list, so check that your nationality qualifies. Amounts and conditions for this program have changed over time and the figures differ between published sources, so confirm the current requirement with an immigration attorney before you sign a purchase contract.

For a side-by-side look at both programs, see our Panama residency programs overview.

Are there other ways to get residency in Panama?

Yes. Panama also has a Pensionado visa for people with a lifetime pension of at least US$1,000 per month, and employment-based visas. Requirements and amounts for these programs change, so check current rules before you rely on any figure.

How Veritas Villages fits in

Veritas Villages is building communities in the Coronado and Chiriquí areas of Panama. Many of our homes are new construction, which is the kind of purchase the “first sale” category describes. Whether a specific home and purchase structure qualifies depends on its price, how it is titled and how you finance it, so please ask before you assume. You can see our Panama residency programs overview, explore Veritas Village Coronado and Veritas Village Chiriquí, or contact our team.