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Panama has officially updated the rules governing its Qualified Investor Permanent Residency program, creating a clearer distinction between buyers investing in new developments and those purchasing resale properties.

Under Executive Decree No. 17 of September 8, 2026, published in the Official Gazette on September 16, the country preserved the $300,000 real estate pathway, but limited it to qualifying first-sale properties acquired directly from developers. Secondary-market properties now generally require a minimum investment of $500,000.

The change is significant because it ends months of speculation that the $300,000 threshold would disappear entirely. Instead, Panama has created a two-tier system that gives new development a clear advantage for residency purposes.

How the New Thresholds Work

For real estate buyers, the distinction is straightforward:

• New first-sale property: minimum investment of $300,000

• Secondary-market property: minimum investment of $500,000

A first-sale property generally refers to a new, previously unoccupied unit transferred directly by the developer, promoter or an authorized successor.

A secondary-market property includes real estate that has already been sold, occupied, leased or transferred to an unrelated third party.

For international buyers, this means that property history now matters almost as much as price when evaluating whether a purchase qualifies for residency.

Why New Developments Keep the $300,000 Threshold

The policy is designed to direct more foreign capital toward new construction.

By maintaining the lower threshold for first-sale units, Panama is encouraging investment in projects that can generate construction activity, employment and additional economic impact.

For buyers already considering a new apartment or pre-construction property, the investment can potentially serve two purposes: acquiring real estate and qualifying for permanent residency.

What About Pre-Construction?

The decree also clarifies how promises of sale can be used for properties under construction.

Investors may qualify while a project is being completed, provided they meet the required conditions. The framework allows immigration status to be supported by a promise of sale for up to three yearsbefore the final title must be registered.

If the transaction fails because of circumstances attributable to the developer, the investor may receive up to 180 business days to replace the property with another qualifying investment.

That provides greater clarity for buyers entering projects before completion.

The Program Is Already Bringing Significant Capital

The Qualified Investor program has become one of Panama’s most important residency-by-investment channels.

Official figures show that more than 700 investors have been approved, representing more than $350 million in foreign investment.

While the program also permits qualifying investments in securities and fixed-term deposits, real estate remains one of the most relevant options for international buyers.

Applications can also be initiated from abroad through a Panamanian attorney, making the program particularly attractive to investors who are planning a future relocation while completing their purchase.

What This Means for Real Estate Buyers

The updated rules create a meaningful difference between new and existing inventory.

A buyer seeking permanent residency through a new development may qualify with $300,000, while a buyer purchasing a resale property would generally need to invest $500,000.

That does not mean new construction is automatically the better investment. Resale properties may offer stronger rental histories, larger floor plans or better pricing in certain neighborhoods.

But for buyers combining real estate, residency and relocation, the $200,000 difference can become a major factor in the decision.

Panama did not eliminate its $300,000 investor pathway. It redesigned it to favor new development and direct more foreign investment toward construction.

5 Things to Know

Is the $300,000 threshold still available?
Yes. It remains available for qualifying first-sale new properties.

What is required for a resale property?
Secondary-market properties now generally require a minimum investment of $500,000.

Can pre-construction purchases qualify?
Yes. A qualifying promise of sale can be used, subject to the conditions and time limits established by the decree.

Does the program provide permanent residency?
Yes. The Qualified Investor program provides a pathway to permanent residency for applicants who satisfy the investment and immigration requirements.

How much investment has the program attracted?
More than 700 investors have been approved, generating over $350 million in foreign investment.