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Resale property now requires US$500,000, while qualifying new-build and off-plan purchases retain the US$300,000 threshold
Panama has redrawn its residence-by-investment programme, raising the minimum property investment for previously owned homes to US$500,000 while preserving a lower US$300,000 threshold for qualifying new developments.
The reform is only days old. It was introduced through Executive Decree No. 17, signed on 8 September 2026 and published in Panama’s Official Gazette on 16 September. The new rules took effect immediately upon publication, replacing the framework established in 2020 and its subsequent amendments.
“Panama is using immigration policy to steer internationally mobile capital towards new construction, while making resale property a considerably more expensive gateway.”
Under the new two-tier system, an investor purchasing a resale property must commit at least US$500,000. The US$300,000 route remains available when the transaction constitutes the first sale of a new and unoccupied property by its developer, promoter or legal successor.
The distinction is deliberate. In its justification, the decree says that investment in new property can “promote the immediate reactivation of the construction industry, energise the local supply chain and reduce the existing primary inventory”. Resale transactions, it argues, have a “substantially lower” multiplier effect on job creation.
Qualifying off-plan property remains accessible from US$300,000. However, the rules strengthen investor protections. Funds must pass through a trust administered by a Panamanian-licensed bank or trust company, or the investor must pay the developer in full against an irrevocable bank-backed guarantee. This must remain valid until the completed property is registered in the buyer’s name.
The decree also introduces tighter valuation controls. The qualifying investment will be calculated using the lower of the price paid or the property’s reasonably supported commercial value, after deducting any secured debt. Panama’s Ministry of Commerce and Industries may require an independent valuation where the registered value appears inconsistent with market conditions.
Elsewhere, the minimum investment in qualifying securities remains US$500,000. A five-year fixed-term deposit continues to require US$750,000 when placed with a private bank, but a new US$500,000 option applies when funds are deposited directly with the state-owned Banco Nacional de Panamá or Caja de Ahorros.
Applicants must prove that the investment was made using their own traceable funds. Money obtained through gifts or other gratuitous transfers from third parties cannot count towards the threshold.
The investment must generally be retained for five years, with residents now required to provide annual confirmation through a legal representative. The decree also formalises a route through which qualifying investors may seek naturalisation after five consecutive years of residence, although citizenship remains subject to Panama’s wider constitutional and administrative requirements.
The reform amounts to more than a price increase. Panama is using immigration policy to direct internationally mobile capital towards construction, productive investment and public financing, while making resale property a considerably more expensive gateway.
Sources: Official Gazette of Panama, Ministry of Commerce and Industries, National Migration Service and ProPanama.
