New Rules for Residency in Panama by Real Estate

New Rules for Residency in Panama by buying Properties On October 15th, Panama issued Decree 193, establishing “New Rules” for Permanent Migratory Residency through the purchase of Real Estate. This new decree includes updates to facilitate residency for international investors: 1. The investment price is set at $300,000, with no increase. 2. The purchase of properties through foundations or companies is allowed. 3. The holders of the investments can include partners and dependents. Regarding the options for investing in properties, we have: • Option 1: Direct Buying. The investor can acquire a property directly, with the requirement that it is registered in the Public Registry of Panama, without financing or mortgages. • Option 2: Pre-Sale with a “Payment Letter”. The investor can buy the apartment, lot or house in pre-sale through an “initial payment,” committing to pay the price difference through a “Payment Letter.” For this, the investor must open a bank account in Panama. • Option 3: Pre-Sale with a “Trust”. The investor also has the option to buy the property in pre-sale with a local trust company. We are at your service for both property searches and to provide all the information and migratory requirements necessary to apply for this type of residence by investment in properties in Panama.