If you have been following Panama’s Qualified Investor Residency program, there has been a major update.

On September 8, 2026, Panama issued Executive Decree No. 17, replacing the previous regulations governing permanent residency through the Qualified Investor program. The decree was published in the Official Gazette on September 16, 2026.

And yes  some important things have changed.

If you are considering buying property in Panama as part of a residency plan, this is something you need to understand before you sign anything or move your money.

Here are the changes that matter most.

The biggest change: $300,000 or $500,000?

This is probably the question I am going to hear the most.

Under the new rules, the minimum investment depends on the type of property you are buying.

Buying a new property directly from a developer?

The minimum investment remains US$300,000.

But the property must qualify as a first-sale/new property under the rules.

Buying a resale property?

The minimum is now US$500,000.

This is an important change.

The decree distinguishes between new inventory being sold for the first time by a developer or promoter and property that has already been sold, occupied, rented or transferred to an unrelated third party.

So if you are looking at a beautiful resale apartment for $350,000 and your plan was to use that purchase to qualify for Qualified Investor residency, do not assume that $350,000 is enough anymore.

This is exactly the kind of thing that needs to be checked before you make the purchase.

It's not only about the price on the contract

Another important change is how the value of the property is considered.

The new rules look at the net computable value of the investment.

That means the authorities can consider the price paid and the reasonably supported commercial value, as well as liens or encumbrances affecting the property.

In other words, you can't simply put a number on a contract and assume that number automatically qualifies.

The value of the property and the way the investment is structured need to be properly documented.

This is particularly important when you are looking at a property because someone tells you:

"Don't worry. The property is worth $500,000."

That isn't enough.

You need proper documentation supporting the value.

What about financing?

Financing is still possible under the new rules, but there are conditions.

The important point is that the investment must still meet the required net value after taking applicable liens into consideration.

So again, this is not simply about the purchase price appearing on your contract.

The financing, ownership and documentation all matter.

Your money has to be your money

This is another point I would pay close attention to.

The new rules place importance on proving the ownership and traceability of the funds used for the investment.

Money received as a gift, donation or other gratuitous transfer from a third party cannot simply be counted toward the required investment.

The source of the funds has to be documented.

For someone preparing a residency application, this means you should be thinking about the paper trail of your money before making the investment, not after.

That can make a big difference in how easy or complicated the application becomes.

Real estate isn't the only option

The Qualified Investor program still has other investment options.

Securities — US$500,000

An applicant can invest a minimum of US$500,000 through a licensed securities house in Panama.

The new rules include qualifying investments such as certain private equity or venture capital funds directed toward productive investment in Panama, Panamanian government-issued or guaranteed debt, and other qualifying registered securities.

Fixed-term deposits

There is also a banking option.

The minimum is:

US$750,000 in a qualifying private bank in Panama

US$500,000 when the fixed-term deposit is placed directly and exclusively with Banco Nacional de Panamá or Caja de Ahorros

The investment generally has to be maintained for at least five years and meet the requirements concerning liens and the origin of the funds.

So the Qualified Investor program is not simply a real estate program.

The five-year commitment is important

One thing that people sometimes overlook when talking about residency through investment is what happens after you get the residency.

The investment isn't simply something you make and then forget about.

The qualifying investment generally has to be maintained for five years.

There are also annual verification requirements.

If the investment is sold, replaced or otherwise ceases to qualify before the five-year period is complete, the resident has to notify MICI within the required period. The decree allows a period of up to 90 calendar days to document a qualifying reinvestment.

So this is a long-term commitment, not simply a way to obtain residency and immediately move the money somewhere else.

There are also changes for families

The new decree provides for adding certain family members after the original approval.

This includes a spouse married after the original approval and children born or adopted afterward, subject to the applicable requirements and fees.

The decree also addresses changes in dependency status and provides for individual consideration rather than automatic cancellation simply because a family circumstance changes.

For families considering Panama, these details matter because your residency situation can evolve after you arrive.

What about citizenship?

This is another point that has generated attention.

The new decree expressly addresses naturalization for Qualified Investors and their dependents who have completed five consecutive years of residence, while making clear that the normal constitutional and legal requirements for naturalization still apply.

In other words, this does not mean:

"Invest $300,000 and you automatically become a Panamanian citizen in five years."

It doesn't work that way.

The decree provides a framework for the naturalization application, but citizenship is not automatic and remains subject to the applicable legal and constitutional requirements.

What if you were already in the process?

This part is very important if you have already started an investment.

The new decree contains transition provisions.

Applications that were already before the relevant authorities before the new rules came into force can remain subject to the requirements and investment amounts applicable when they were filed.

There are also transitional provisions for certain investments and binding contracts that existed before the new decree, allowing qualifying applicants to use the previous regime if the application is filed within the specified six-month period.

So if you have already signed a purchase agreement, made an investment, or started the process, don't assume that the new $500,000 resale requirement automatically applies to you.

Your specific dates and documents matter.

What does this mean if you're thinking about moving to Panama?

For me, the biggest takeaway is simple:

Don't buy a property first and figure out the residency afterward.

If residency is part of your plan, the investment and the immigration strategy should be considered together.

Before you put down a deposit, you need to understand:

What type of property you are buying

Whether it is a first sale or resale

How the property's qualifying value will be established

Where your investment funds are coming from

How that money can be documented and traced

Whether financing is involved

How long the investment must be maintained

Whether your situation falls under the new rules or transitional provisions

And this is where professional legal advice becomes important.

I am not a lawyer and I don't provide immigration or legal advice. My role is to help people understand what life in Panama actually looks like, ask the right questions, and know what they need to investigate before making major decisions.

The new Qualified Investor rules are a good example of why I always say:

Moving to Panama is about much more than choosing a country.

You need to understand the reality of living here — including the financial, legal and practical side of making the move.

And that is exactly why doing your homework before making a major investment matters.

Thinking About Moving to Panama?

If you're seriously considering a move to Panama, don't start with:

"Which property should I buy?"

Start with:

"What kind of life am I actually trying to create?"

Where you live, how you want to spend your days, your budget, your residency options, your social life and the kind of community you want around you all matter.

Experience Panama before you make the decision.

If you're thinking about relocating and want to understand what everyday life here could actually look like, [this is where you can start your Panama relocation journey].

This article is for general informational purposes only and is not legal or immigration advice. Panama's immigration and investment regulations can change, and individual circumstances are different. Always consult a qualified Panamanian immigration attorney before making an investment or residency decision.

La source officielle est le Décret exécutif n°17 du 8 septembre 2026, publié dans la Gaceta Oficial Digital No. 30613.

Anne Marie