For HNWIs building a second base with a clear compliance framework, the Panama Residency Investor Program is best understood as a two-step strategy: (1) secure permanent residency via the Qualified Investor pathway, then (2) pursue naturalization after meeting residency + eligibility requirements.
What’s new in the program
A key update came via Executive Decree No. 193 (15 Oct 2024), published in Gaceta Oficial Digital. It amended the Qualified Investor rules and set a minimum investment of B/. 300,000 (from a foreign source) for this residency category.
Program snapshot for investors
The Qualified Investor track sits under permanent residency for economic reasons and is structured around verifiable capital deployment and documented proof of funds. The decree framework also confirms:
- The investment must be maintained for at least five (5) years to keep permanent residency in this category.
- The authority should resolve the residency request within 30 business days from receipt (as regulated).
- Applications can be filed before the applicant enters the country, via authorized representation (per the decree text).
Citizenship path: what the law actually says
Permanent residency is not citizenship. Citizenship is a separate legal process.
Under Tribunal Electoral’s published constitution text, naturalization may be requested by:
- Foreigners with five years of continuous residence, after reaching legal age, who:
- declare intent to naturalize,
- expressly renounce prior nationality,
- and prove Spanish proficiency plus basic knowledge of Panamanian geography, history, and political organization.
In practice, the government’s published checklist for a naturalization file includes process controls such as:
- Filing through a lawyer and submitting formal petition documentation.
- Criminal record evidence (with specific conditions depending on travel history).
- Proof of economic solvency (e.g., tax, banking, employment, or investment evidence).
- Completion of required forms and interview steps (and related evaluation mechanisms).
Important governance point for HNWIs: the constitution says you may request naturalization; approval remains procedural and discretionary, so the outcome depends on clean compliance and file quality, not marketing claims.
Who this strategy fits best
This residency-to-citizenship roadmap tends to fit HNWIs who want:
- A risk-mitigation jurisdiction and long-term optionality in the Americas.
- A plan that can be structured around real assets, market instruments, or bank deposits.
- A process with clear documentary evidence, audit trail, and multi-year governance (investment maintenance + renewals/updates where required).
Common deal risks HNWIs should manage upfront
- Source-of-funds clarity: ensure the investment traceability is clean (banking trail, declarations, supporting docs).
- Asset execution risk: title/encumbrance diligence for property; licensing and custody diligence for securities via Superintendencia del Mercado de Valores de Panamá ecosystem; deposit terms for banks.
- Time + presence planning: naturalization requires continuous residence and additional proofs; travel patterns matter.
How Globalia Consulting (partner of Globevisa Group) can help
We support HNWIs with an end-to-end execution model built for confidentiality, compliance, and speed:
- Strategic fit assessment
- Choose the right route (real estate vs securities vs deposit) based on liquidity, risk appetite, and timeline.
- Compliance-first file build
- Document sourcing, KYC/AML-ready pack, translations/legalization planning, and investment evidence alignment to the decree framework.
- Execution & stakeholder coordination
- Coordinate the investment certification workflow and immigration filing pathway with the relevant authorities.
- Citizenship-readiness roadmap
- Build a multi-year plan that aligns residency maintenance, economic solvency documentation, and naturalization readiness.