US$300,000 threshold, no “presence” requirement, and territorial tax: how Panama attracts global investors (QIV)

While Europe has been tightening rules for investors and raising entry thresholds, global capital has followed a quieter but steady logic: the Western Hemisphere is back in focus. Panama was already prepared—offering a clear path for those who don’t want to “play the lottery” at the application stage.

The Qualified Investor Visa (QIV) program in Panama has been in place for several years under Executive Decree 722, with clarifications introduced in Decree 193. At its core are conditions that many investors rarely see in one package: an immediate route to permanent residency, entry from US$300,000 through real estate, typical processing times of from a few weeks up to 1–3 months, and—crucially—a territorial tax system, under which income earned outside Panama is generally not subject to Panamanian tax.

For people used to seeing “beneficial” programs change mid-process, Panama’s appeal goes beyond the country itself and even beyond the visa label: it’s a jurisdiction that rewards investment and takes the investor’s interests into account, rather than reducing the transaction to a budget-feeding exercise.

Panama: a US-dollar economy and a tax setup designed for international capital

Panama uses the US dollar as its settlement currency. That means there’s no “exchange-rate shock” scenario where the property price and portfolio structure suddenly stop aligning due to currency movements. An investor can fund US$300,000 from the US, Canada, or the Middle East—without the deal’s “currency gap” becoming an extra risk.

Next comes the territorial principle of taxation. In simplified terms: income earned outside Panama is not subject to Panamanian tax. So if an investor receives rental income in London, dividends in New York, or consulting fees in Dubai, Panama’s tax system generally does not “pull” those inflows into its tax base.

Attorney Onur Sümer, Founder and Managing Partner at GSC International, puts it the way many clients understand it: “People spend a lot of energy optimizing returns, and then leave 30–40% on the table due to tax residency chosen by chance rather than by design. Panama allows you to ask the right question: where should my tax ‘living space’ actually be?”

Three entry routes—one outcome

The QIV program offers three investment pathways. In all cases, the capital must come from outside Panama and remain “within the program” for five years.

Real estate is the most popular option: a minimum threshold of US$300,000 via an equity stake in registered real estate (residential, commercial, or land). If the property price is above the threshold, the investor may finance the excess locally—but their own capital must cover US$300,000. Title must be issued without encumbrances.

Panamanian securities: a US$500,000 threshold, placed through a licensed local broker, with holding for five years. This route is often chosen by investors who value access to the local capital market more than acquiring a physical asset.

Time deposit: US$750,000 locked for five years in a Panamanian bank. This is the most capital-intensive option, but it is usually simpler in structure and becomes liquid once the term ends.

No matter which pathway is chosen, the result is the same: permanent residency from the date of approval. In practice, timelines commonly fall within 30–90 days.

The price looks attractive—but the calendar matters

The US$300,000 real estate threshold was initially planned to increase to US$500,000. Authorities extended the lower minimum—at least until October 2026—but that window has a clear time limit.

Investors who finalize under the current parameters will lock in permanent residency at a level that may not remain available under future regulation. This isn’t a hypothetical concern: the US$500,000 figure has already appeared on the agenda and was then postponed. Whether it returns at the end of 2026 or takes another form remains to be seen—but the US$300,000 window currently looks like a time-limited opportunity.

Residency without having to “relocate”

The physical presence requirement under QIV is minimal: one trip to Panama every two years. There are no strict day-count rules, no “six-month” tracking, and no need for tracking apps. The formula is simple: arrive, maintain the investment, and return after two years.

For people who already split their time among multiple countries, this is decisive. Panama doesn’t ask you to “act like you live there.” The program asks for episodic presence while keeping the investment element in place.

According to Onur Sümer, most GSC International clients considering Panama are not doing it as a reaction to a crisis. “These are successful people making a rational decision to diversify—where they live, where they keep funds, and where their children study. Those who move on usually realize: the best time to create a second option is before it becomes urgently needed.”

The program also allows a family format: a spouse, children under 18, financially dependent unmarried children aged 18–25, and parents of any age can be included as dependents. Permanent residency extends to the family from the start.

Citizenship: a possible next step after five years—with important caveats

After maintaining the investment and meeting the minimum travel requirement for five years, QIV holders may apply for Panamanian citizenship via naturalization. The process includes an assessment covering civics and geography, conducted in Spanish.

An important detail: Panama does not formally recognize dual citizenship in the legal sense. During naturalization, citizens sign a constitutional declaration of intent to renounce their previous nationality. In practice, the application of this provision may not always be uniform—but the legal requirement exists, and investors should plan based on the text of the law rather than rare exceptions.

This is where the quality of legal support at the outset determines whether a five-year plan delivers the expected result or creates an unpleasant “surprise” at the finish line.

Where applications most often break—and how GSC International’s approach differs

Technically, the QIV document requirements are straightforward: a valid passport, proof of investment, an apostilled criminal record certificate, verification of source of funds, medical certificate, passport photos, and sworn declarations. The mechanics usually aren’t the main problem.

The real risks are structural: how exactly the property (or other asset) is set up and whether that could create complications for estate planning in the investor’s home jurisdiction. How the investor as an asset holder interacts with potential exit-tax rules (if applicable). And how the program’s five-year timing aligns with the investor’s broader residency strategy in other countries.

Onur Sümer describes a typical scenario where clients come to GSC International after starting the process elsewhere: “They already have a real estate deal. Sometimes it’s a good one. But it’s not integrated into the bigger picture. Their tax position hasn’t been analyzed, the holding structure is template-based, and the residency timeline doesn’t match plans in the other two countries. We work differently: we reconstruct the desired outcome and build the legal architecture ‘backwards’—from the client’s goal.”

GSC International is a boutique law firm with more than 20 years of experience in cross-border corporate law. Offices in Paris, Budapest, Bratislava, Istanbul, and Dubai. Partner presence in Prague, Warsaw, and Toronto. The firm’s lawyers hold memberships in bar associations across multiple jurisdictions. The company manages around 15 residency and citizenship programs across Europe, North America, the Caribbean, and Oceania.

What differentiates the firm from practices that focus only on paperwork is scale and a “cross-cutting” approach. GSC International’s roots are in corporate law, commercial structuring, and international advisory. So when a client brings a Panamanian case, the same team can handle corporate matters, real estate due diligence, cross-border tax interaction, and the immigration component within one project—without handing work between different lawyers and without gaps between the visa and tax tracks.

Onur Sümer concludes: “A residency card is a document. In essence, clients are buying optionality: the ability to move, restructure, and respond to what happens next. That requires a team that sees the whole board—not just one square.”

Start a conversation

If you’re considering Panama QIV before the window closes with the US$300,000 threshold (applicable until October 2026), GSC International offers an initial consultation. During this meeting, they assess eligibility, structure the investment correctly from the very beginning, and align the residency timeline with the client’s overall international position.

You can reach the team directly via the website or through the contact form.

If you’re looking for a jurisdiction where investment is valued alongside speed and process predictability, consider Panama’s Qualified Investor Visa (QIV). With an entry threshold from US$300,000, relatively clear processing timelines, and a territorial tax system, it can be a solid alternative to “lottery” programs with changing rules. Check the latest eligibility and application steps at https://digital-nomad.gr/en/goldenvisa.

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