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Macro Enterprise Business Investor


Overview

A priority for the Government of the Republic of Panama; The Macro Enterprise Business Investor Visa provides foreign nationals with a pathway to residency in Panama through qualifying investment of $160,000 USD in our existing social medical clinics project. This program is particularly well suited for both entrepreneurs and passive investors looking to enter a dynamic, growth-oriented market while leveraging Panama’s strategic location and favorable business climate.


Distinct from other immigration categories, this visa is designed to attract foreign direct investment, generate employment, and reinforce the development of local industries. It emphasizes structured investments that deliver measurable economic value and support the country’s long-term growth.


Program Requirements

  • The Macro Investor Program offers a pathway to residency in Panama through a qualifying investment of USD $160,000 in our approved social medical clinic projects.


  • Investment funds must originate from outside of Panama.


  • Applicant must be at least 18 years of age.


  • Clean criminal record.


  • Registration as a shareholder in the corresponding investment structure.


  • Submission of complete legal, financial, and personal documentation.


Application Requirements

  • A minimum investment of USD $160,000 in the share capital of one of our social medical clinic locations duly registered in Panama. This investment must be supported by audited financial statements and official records.


  • The business must be fully operational and generate direct employment for at least five Panamanian citizens, all of whom must be registered with the social security system.


  • A copy of the company’s Articles of Incorporation and proof of registration with the Public Registry.


  • Certification from a licensed Certified Public Accountant (CPA) confirming the investment contribution.


  • Proof that the applicant is listed as both a shareholder and legal representative of the company.


  • A clean criminal background certificate issued by the applicant’s country of origin or residence.


  • Submission of personal documentation, including a valid passport, photographs, and required government forms.


Important:
This residency-by-investment program requires that the business remain active and compliant with all applicable tax and labor regulations in Panama. The company must maintain operations, pay employee wages, and contribute to the national economy in a meaningful and verifiable manner.


Family Dependents

The Macro Business Investor Visa in Panama allows applicants to include immediate family members as dependents within the same application. For each dependent, an additional investment of USD $2,000 is required, along with the following documentation:


  • Letter of responsibility issued by the principal applicant.


  • Proof of kinship (e.g., marriage or birth certificates).


  • Proof of shared residential address.


  • For dependents over 18 years of age: certificate of single status and proof of enrollment as a student.


The visa initially grants a provisional residence permit valid for two (2) years. During this period, the investor must maintain the qualifying investment, ensure the company remains active, and comply with all applicable tax and labor regulations. The business must operate in accordance with Panamanian law and demonstrate genuine economic activity.


Upon completion of the provisional period, the applicant may apply for permanent residency by investment. In addition to resubmitting the original documentation (with the exception of criminal background checks), the following updated documents must be provided:


  • Certificate of good standing issued by the tax authority.


  • Financial statements or income certification reflecting the applicant’s participation in the company, with a minimum investment of USD $160,000.


  • Form 03 issued by the Ministry of Economy and Finance (MEF).


  • Current certificate of good standing from the Social Security authority, confirming compliance with employment obligations.


Qualified Real-Estate Investor


Overview

The Panama Investor Visa, established by Executive Decree No. 722 on October 15, 2020, introduced a pathway to permanent residency for individuals seeking to invest in Panama’s economy. Under this program, applicants may obtain permanent resident status by making a qualifying investment in one of the following categories:


  • Real Estate Investment: A minimum investment of US$300,000 in property, free of liens. The investor is required to maintain ownership of the property for at least five (5) years.


  • Pre-Construction Real Estate Projects: A commitment of at least US$300,000 through a signed purchase and sale agreement for a pre-construction property, also free of liens.


Program requirements

  • Minimum investment of $300,000 USD in real estate including our bank foreclosed properties.


  • Invested funds used in the purchase must originate from outside of Panama.


  • Minimum age of 18 years old.


  • Minimum of 1 visit to Panama every two years for one week or more to maintain residency status.


  • Clean criminal record


  • Physical presence in Panama not required during application process.


Application Requirements

  • A complete copy of the passport, duly apostilled or authenticated.


  • A National Criminal Background Check, apostilled or authenticated, with a validity of no more than six (6) months.


  • Five (5) recent passport-sized photographs.


  • Payment of USD $5,000 to the National Immigration Service.


  • Payment of USD $5,000 to the National Treasury.


Dependents

  • For dependents aged 12 years and older:  An additional payment of USD $1,000 per dependent to the National Treasury; and an additional payment of USD $1,000 per dependent to the National Immigration Service.


  • For dependents under 12 years of age:  An additional payment of USD $1,000 per dependent to the National Treasury.


Supporting Documents

  • Certificate of good health.


  • Declaration of personal background.


  • Bank certification (foreign or local) confirming receipt or transfer of funds. If issued abroad, the document must be apostilled or authenticated.


  • Bank statements from a foreign bank (duly legalized) or from a local bank (bearing authentication stamps from the issuing bank) evidencing the transaction of transferred funds.


  • A notarized letter from the recipient of the funds, or an original bank certification, confirming the deposit or receipt of the transfer in accordance with the investment options established by law.


Additional Requirements for Applications with Dependents

If the application includes dependents, the following must also be provided:


  • A letter of responsibility for each dependent;


  • Proof of relationship between the applicant and each dependent;


  • Proof of shared address, confirming that the applicant and dependents reside at the same location;


  • For dependents aged 18 or older: a certificate of single status and proof of student status.


Benefits 

  • Receive immediate permanent residency upon initial approval.


  • You can apply for your Panamanian identity document for permanent residents, known as the E Cedula or foreigner ID card.


  • You can include dependents such as your spouse and minor children or students.


  • You will have the option to apply for Panama Citizenship after five years of effective residence.


  • You have access to a passport or special travel document for qualified investors, which improves international mobility and immigration status. This also applies to dependents and does not grant citizenship.

    


FAQ - Macro Enterprise Business Investor


Question: 

How much does it cost to obtain a Panama Macro Enterprise Business Investor Visa?

Answer: 

The total cost may vary depending on the specifics of each case and applicable legal fees. However, in general, applicants should consider the following:

  • A minimum investment of USD $160,000 in a company duly registered in Panama, either through the incorporation of a new business or the acquisition of shares in an existing entity.


  • A government fee of USD $5,000 for the principal applicant, covering the immigration process and permanent residency application.


  • A refundable repatriation deposit of USD $800, payable to the National Immigration Service.


  • Additional costs related to notarization, translation, and legalization (or apostille) of foreign documents.


  • Professional legal fees associated with the preparation and submission of the application.


Costs may increase if dependents are included or if additional services are required.


Question:  

Does the Macro Enterprise Business Investor Visa program lead directly to citizenship by investment?

Answer:  

No exactly. Panama does not offer a formal citizenship-by-investment program. However, once you obtain residency through investment and reside in the country for at least five (5) consecutive years, you may apply for naturalization. Approval is subject to meeting all legal requirements, including continuous residence, integration into the country, and compliance with Panamanian law.


Question:  

How long do I need to stay in Panama to qualify for permanent residency?

Answer: 

During the two-year provisional residency period, investors are expected to maintain a meaningful presence in Panama and demonstrate a genuine connection to both the country and their business. While the law does not establish a specific minimum number of days of physical presence, extended or frequent absences may negatively impact the application for permanent residency, as they can be interpreted as a lack of ties to the country.


As a practical guideline, it is advisable not to remain outside Panama for more than six (6) consecutive months. In addition, maintaining active business operations and full compliance with corporate, tax, and labor obligations will help support a strong application before the immigration authorities.




FAQ - Qualified (Real Estate) Investor Program 


Question: 

Does Panama issue a passport to residents under the Qualified Investor Visa program?

Answer: 

Yes. Under Law 493 of 2025, qualified investors in Panama may apply for a special travel document once they obtain permanent residency. This document facilitates international travel and may also be issued to eligible dependents included in the same application.

It is important to note that this document does not confer Panamanian citizenship, nor does it replace the holder’s original passport. Its purpose is to function as a supplementary travel document and as official proof of immigration status under this program.


Question: 

What are the benefits to acquiring the Qualified (real estate) investor visa?

Answer: 

  • Immediate permanent residence after approval (approximately 30 days, with express process).
  • No demanding physical obligation: it is enough to travel once every two years to maintain residence.
  • Right to work or start a business freely in the country, as it is a permanent residence visa.
  • Tax benefits: Panama uses a territorial system, it does not tax income generated outside the country.
  • Asset diversification, option to generate passive income through real estate, securities, or deposits.
  • Access to local services, such as health, education, opening accounts, etc.
  • Opportunity for naturalization after five years of permanent residence.


Question: 

Who can apply for the Qualified (real estate) investor visa?

Answer: 

Any foreigner over 18 years old can apply who:

  • Certifies the legal origin of the funds (they must come from abroad).
  • Meets the minimum investment according to the chosen modality.
  • Presents a criminal record certificate and good health.
  • Has legal counsel in Panama to manage the process.


Family Privileges

Includes dependant family members such as Spouse, Unmarried and dependent children of the main applicant under 25 years old.

Tax Optimization

One of Panama’s biggest advantages is its territorial tax system. This means that income earned outside the country is exempt from taxes, providing significant fiscal relief for international businesses.

passport privileges

34th ranked passport globally for travel freedom.  Panama passport holders can travel visa-free or obtain a visas upon arrival in 142 countries.

Citizenship

Live, work and study in Panama, access to health and welfare systems and qualify for citizenship after 5 years.

Investment Security

Panama’s banking system is among the most sophisticated in Latin America. With over 70 international banks and full dollarization, it acts as a financial bridge between North and South America. Regulatory modernization is paving the way for fintech development, digital wallets, and cross-border payment platforms.

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