Panama Real Estate Investment

Panama has amended several immigration regulations that impact real estate investors in Panama, according to the My Panama Lawyer Blog. Some of the laws changed include the length of stay allowed for tourists, regulations on foreign workers, changes in the minimum investments for forestry and other visas, and an increase in the required minimum income for the pensionado program.

Here is a selection of some of the changes, which will be effective starting  August 25th, 2024:

-Tourists may remain in the country only for 90 days, with only those with an original period under 90 days being able to ask for an extension to complete the 90 days when justified (Art. 21),

-Forestry temporary visa minimum investment is raised to US$60,000, up from US$40,000, with an additional requirement of 10 hectares purchased (Art. 100),

-Forestry permanent visa minimum investment is doubled to US$80,000, with an additional requirement of 20 hectares purchased (Art. 180),

-Self-solvency investor visa minimum investment is increased to US$300,000, up from US$200,000 left in Panama bank account for 3 years (Art. 192).

-Self-solvency investor visa minimum investment alternatives include also real estate for which at least US$300,000 is paid for, free of mortgage (Art. 193) or a mixture of a 3-year deposit and mortgage-free real estate up to a combined minimum of US$300,000 (Art. 194),

-Self-solvency investor visa real estate may be held under a Private Foundation which founder or beneficiary is the applicant,

-Pensionado minimum income is raised to US$1,000, up from US$500, or a mixture of US$100,000 in directly-held Panama real estate (Art. 200 - it does not specify if the property is free of mortgage),

To read more of the important changes in the immigration regulations, read My Panama Lawyers full post here, or download the full documents in Spanish here and here (yahoo ID required).