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Residency programs are usually discussed as immigration tools, but Panama’s latest figures point to a broader story about investor confidence.

Between July 2025 and June 2026, the country approved 268 Qualified Investor residency certificates, representing US$113.6 million in qualifying investment. That was a 38% increase over the previous 12-month period, but the composition of those approvals is more revealing than the growth rate itself.

Nearly 87% of successful applicants chose to qualify through real estate, while fixed-term bank deposits accounted for 7.5% of approvals, and securities represented just 5.2%.

That gap matters because investors were not limited to one route. They could have placed capital in more liquid financial instruments, yet the overwhelming majority chose property instead. Real estate carries higher transaction costs, greater exposure to local market conditions and a longer investment horizon, so the preference suggests that many applicants are doing more than pursuing residency—they are comfortable committing capital to Panama’s property market.

This is becoming more significant as investment migration programs change elsewhere. Spain has moved away from property-based residency, Portugal has restricted real estate eligibility, and Greece has raised minimum investment thresholds in several areas. Panama, by contrast, continues to offer permanent residency through qualifying property purchases within a relatively direct framework.

The process has also become easier to navigate. The Ministry of Commerce and Industries credits digitalization with shortening approval times and improving transparency, both of which matter to international buyers making cross-border decisions.

Demand is also spread across several regions. Approved applicants came from North America, Europe, Latin America and Asia, including the United States, Canada, Colombia, Brazil, Spain, Germany, Switzerland, Russia and China. That diversity reduces dependence on any single source market and gives the program a broader base than one driven by a temporary surge from one country.

For Panama’s real estate sector, the figures are encouraging, but they should be read carefully. The Qualified Investor Program is still only one part of the market. Local demand, financing conditions, new supply and the broader economy remain far more important to overall performance.

Even so, the program provides a useful signal: when investors are given several ways to qualify for residency and nearly nine out of ten choose property, the decision says something about how international capital currently views Panama.

The residency benefit may start the conversation. The investment choice reveals the conviction.

5 Things to Know

1. Qualified Investor approvals increased 38%. Panama approved 268 certificates between July 2025 and June 2026, representing US$113.6 million in qualifying investments.

2. Real estate dominates the program. Almost 87% of approved investors qualified through property purchases, compared with 7.5% through bank deposits and 5.2% through securities.

3. Investors are choosing the least liquid option. That suggests many applicants are taking a longer-term view of Panama rather than simply selecting the fastest route to residency.

4. Demand is geographically diverse. Approved applicants came from North America, Europe, Latin America and Asia, reducing dependence on any single source market.

5. The figures offer a useful market signal. The program does not define Panama’s property sector, but it shows where a growing share of international investor confidence is being placed.