June 15, 2025
Limitless Team
If you're thinking about moving to Panama or investing in the country to obtain legal residency, you probably already know that immigration laws can change quickly. In 2025, two key decrees —the Executive Decree 722 And the Executive Decree 193— have brought new requirements and adjustments to the process to obtain the investment visa in Panama. With these changes, it's more important than ever to understand what has changed, who it affects, and how to prepare if you plan to apply for investment residency.
In recent years, Panama has become an attractive destination for foreign investors thanks to its economic stability, sustained growth and favorable legal system. However, with the growing number of applicants and the evolution of the migratory landscape, the Panamanian government has considered it necessary to make modifications that strengthen and order the processes of residence by investment.
This article is designed for people who do not necessarily have legal experience, but want to understand in simple terms How does the investment visa work in Panama and what are the new rules that apply since 2025. We will explain step by step the decrees that regulate this procedure, the most important changes they bring with them and what you should take into account if you plan to apply.
If you are an entrepreneur, a foreign investor or simply someone who wants to legally settle in Panama, this guide will serve as a first step in getting to know the current situation, clarifying frequently asked questions and avoiding common errors in the process. You'll also find key information about the benefits this visa offers, and how to effectively adapt to the New immigration law in Panama.
Read on to find out what Decrees 722 and 193 say, how they affect the visa application process, and what steps you need to take to ensure a smooth process in 2025.
What are Executive Decrees 722 and 193?
Executive Decrees 722 and 193 are legal provisions issued by the government of Panama that update and regulate the process of obtaining an investment residence visa. These decrees are part of a national strategy to organize the migratory system and make the control of legal migratory flows more efficient, while maintaining the attractiveness of Panama as a destination for foreign investment.
What does Executive Decree 722 establish?
Initially enacted in October 2020, the Decree 722 established the figure of Permanent Resident as a Qualified Investor. This type of visa allowed foreigners to obtain permanent residence almost immediately upon making a substantial investment in the country.
Among the modalities recognized by this decree were:
- Minimum investment of 300,000 USD in real estate.
- Fixed-term deposit with a Panamanian bank for 750,000 USD.
- Investment through the Panama Stock Exchange.
This decree considerably reduced approval time and eliminated the intermediate phase of temporary residence, making it very attractive for foreign investors looking for legal residence in Panama.
What changes with Executive Decree 193?
Issued at the end of 2023, the Decree 193 reviews and modifies some of the benefits and requirements established by the previous decree. Its objective is to ensure that applicants meet more balanced and sustainable parameters to justify their entry into the country through investment. This includes adjustments to the amounts, a comprehensive review of the source of the funds and changes in the timing of the process.
Why was this adjustment needed? With the increase in requests since 2020, Panamanian authorities detected the need to reinforce controls that ensure the legitimacy of investments and the applicant's true commitment to establish themselves in the country.
Both decrees work together: 193 does not eliminate 722, but rather complements and updates it. Understanding both is essential if you are interested in applying to visa for foreigners investing in Panama in 2025.
Main changes to the Investment Visa in 2025
With the entry into force of Executive Decree 193, the process for obtaining the investment visa in Panama has undergone several significant changes that will take full effect throughout 2025. Although the general structure of the program is maintained, conditions have been tightened slightly to ensure that those who actually apply are investors with proven economic capacity and a willingness to reside in the country.
New investment amounts required
One of the most significant adjustments is the increase in the minimum capital required. Starting in 2025, the amounts for all types of investment are increased:
- Real estate: The new minimum is 300,000 USD, paid in full and without a mortgage, after October 2026 the minimum amount will increase to 500,000 USD.
- Fixed-term deposit: It remains at 750,000 USD, but now requires greater transparency about the origin of the funds.
- Investments in the Stock Market: A minimum investment of 500,000 USD is required through a licensed investment firm.
Tight times and procedures
As long as a qualified investor visa is applied for, a response time of 30 to 40 days is expected from the relevant authorities for the approval of permanent residence.
Increased demand on documentation
Now it will be required:
- Detailed verification of the legal origin of the funds.
- Official appraisal of the properties purchased.
- Certification of the investment if it is made on the stock exchange or in a bank deposit.
These elements seek to improve transparency and avoid using the program for purposes other than establishing legal residence in Panama.
Why do these changes matter?
For those who are evaluating How to obtain permanent residence via investment in Panama in 2025, these adjustments mean that preparing in advance is key. It's no longer enough to have capital: more rigorous legal and financial planning is now required. It is also important to consider that the deadlines have been slightly extended, so the process is no longer as immediate as in previous years.
While some investors may consider these changes an initial barrier, they are actually designed to strengthen the integrity of the system and grant greater legitimacy to those who obtain legal residence in Panama. For many, it remains a viable and attractive option, provided that they meet the new requirements for investment residency in Panama.
Who can apply for this visa in 2025?
With the entry into force of Executive Decrees 722 and 193, Panama has more precisely defined the profile of people who can apply for legal residence by investment. As of 2025, the investment visa in Panama is mainly aimed at foreign investors who wish to establish themselves permanently in the country, either through business projects, real estate investments or long-term financial deposits.
The objective of the Panamanian government is to attract genuine foreign capital, fostering economic stability and sustainable growth. Therefore, clearer requirements and more structured processes have been established. But who can apply under these new provisions?
General profile of the applicant
The applicant must be a foreign person, over 18 years of age, with legal capacity. It is not necessary to previously reside in Panama, although demonstrating ties to the country (for example, having a company or property) can facilitate the process.
This visa is aimed at those who meet at least one of the following criteria:
- They invest in real estate registered in Panama for a legally established minimum amount.
- They make fixed-term deposits in Panamanian banks for a specified period.
- They constitute a Panamanian company or corporation with a proven investment in operating capital.
Exclusions and limitations
Not all foreigners qualify automatically. Immigration authorities may reject requests if the origin of the funds is not duly justified or if there is a relevant criminal record. In addition, the funds must come from outside and not from a local source, which is verified by official bank documentation.
Is it suitable for entrepreneurs or independent professionals?
Yes, as long as they can meet the minimum investment requirements. For example, a foreign entrepreneur can set up a company in Panama and invest the requested capital as part of the process. The important thing is that the investment is real and properly documented.
In short, any foreigner with clear intentions to invest and being established permanently may be eligible for this visa in 2025. The changes in the law seek to ensure that investments are transparent, formal and beneficial to both the applicant and the country.
Updated requirements for investment residency
One of the most important aspects after the reforms introduced by the Executive Decree 722 and its modification with the Decree 1094 It is the update of the requirements to obtain permanent residence in Panama by investment. These changes seek to strengthen migration processes, avoiding the misuse of visas and ensuring that each investment is legitimate, verifiable and beneficial to the country.
Amounts and types of investment allowed
Since 2025, the amounts required depend on the type of investment. The following summarizes the main valid scenarios for obtaining a investment visa in Panama:
- Direct real estate investment: Buying property in Panama for a minimum value of USD 300,000 (previously it was USD 500,000 with a temporary exception). The property must be in the name of the applicant and free of mortgages.
- Fixed-term deposit: Establish a term deposit certificate in an authorized Panamanian bank for a minimum amount of USD 750,000, for a term not less than 5 years.
- Investment via company: Create a company in Panama with a minimum investment in authorized and operating capital of at least USD 500,000, duly registered and active in the local tax system.
All these amounts must be made with funds from abroad and duly supported by documentary evidence (international transfers, bank letters, etc.).
Required personal documents
In addition to evidence of investment, the applicant must submit:
- Valid passport
- Criminal record certificate from the country of origin
- Bank certification of the origin of the funds
- Photographs and official forms
- Proof of address in Panama (for example, rental agreement or property title)
Updated application process
The migration process continues to be managed through the National Migration Service. One of the most important changes is that greater traceability is now required in funds. It is crucial to justify every transaction that leads to investment, including the entire banking chain from the country of origin to Panama.
Government response times have also been adjusted, with greater review of each file. Although this can lengthen the process, it offers greater transparency and seriousness to those who really want to establish themselves legally in the country through investment.
What happens after I get the visa?
Once approved, it is granted permanent residence in Panama. However, some categories may include a two-year interim phase before receiving definitive status. Once this period has elapsed and once the continuity of the investment has been verified, the applicant can obtain their permanent resident card.
With these updates, it's key to plan carefully and prepare each document in advance. La updating residency by investment in Panama points to a clearer and more reliable system. In addition, it lays the foundation for enjoying the benefits that we will discuss below.
Advantages and benefits of investing to obtain residence in Panama
Beyond complying with the updated investment visa requirements in Panama, it is important to understand why this type of residence remains an attractive option for foreigners. Despite the changes introduced by the Executive Decree 722 And the Executive Decree 193, the country maintains favorable conditions for those who seek to establish themselves legally through investment.
Investing in Panama doesn't just give you the opportunity to get a legal residence, but it also unlocks personal, financial and logistical benefits that can make a significant difference, especially for those seeking stability in Latin America.
Legal and economic stability
Panama has been characterized as one of the most stable countries in the region in economic and legal terms. This is key for investors looking to protect their capital in a secure environment. In addition, the country uses the U.S. dollar as its official currency, which reduces exchange risks and facilitates international transactions.
Path to permanent residence (and eventually citizenship)
One of the main benefits of investor visa in 2025 is that it allows progressive access to a permanent residence in Panama. Through the current scheme, after meeting certain requirements and length of stay, it is possible to apply for permanent residence and then to nationality, if desired.
Quality of life and international connectivity
Panama offers an excellent quality of life, with modern infrastructure, high-quality private health services and a privileged location with air connections to North America, Europe and South America. This makes it an ideal place both to live and to manage regional businesses.
Incentives for foreign investment
The country continues to promote the foreign investment in Panama through tax benefits and access to key sectors such as real estate, tourism, fintech and logistics.
- Access to growing real estate projects.
- Opportunities in special economic zones.
- Specific tax exemptions for certain sectors.
Flexibility for families
Another aspect to consider is that the visa allows dependents—spouse, minor children and family members with disabilities—to be included in the same application or in subsequent applications. This causes the process of obtain permanent residence via investment in Panama is feasible for families seeking to relocate together.
Evaluate changes with strategic vision
While the legal changes for foreign investors in Panama they have raised minimum requirements and tightened some procedures, they also seek to ensure more transparent and controlled processes. These adjustments make the program stronger and value those who make genuine investments.
In short, if you are looking for a reliable option to start a new phase in Panama, the route of residence by investment continues to be a solid and advantageous path — provided that you inform yourself properly and structure your application in accordance with the new regulations.
✍🏼 Take note...
Executive Decrees 722 and 193 have redefined the process for obtaining the investment visa in Panama since 2025, raising requirements and establishing stricter measures to ensure real and transparent investments. In this article, we analyze what these decrees are, how the rules of the game have changed and what type of investors can benefit under the new legal framework. With a clear guide to the updated requirements and a full review of the advantages that this type of legal residence continues to offer, you are now better prepared to evaluate if Panama is the ideal place for your next investment.
Whether you're looking permanent residence, a better quality of life or expanding your business, this migration model can be an excellent option if you follow the right steps and stay informed about changes. The key is to know the new rules, to anticipate challenges and to take advantage of the fiscal, legal and personal advantages that still make Panama one of the most attractive destinations for investors in the region.
Are you considering applying to the investment visa in Panama under the new rules established by Decrees 722 and 193? At Limitless Legal we can help you structure your case, identify the best path according to your profile and ensure that you comply with all updated immigration requirements for 2025. Contact us for an initial evaluation without obligation and take the first step towards your legal residence in Panama.