A permanent residence program for "qualified investors" was announced by the Panama government on Friday, October 16
The plan is intended to stimulate economic reactivation, by attracting high net worth investors to boost different sectors of the economy such as real estate and construction.
"The applicant must make an investment in the Republic of Panama for a minimum amount of 500.000 from a foreign source, which may be personally or through a legal entity, in which the applicant is always the final beneficiary of the shares of the legal entity that holds the investment ”, says an executive decree.
Real estate investments can be for units already completed or also through investment through contracts of promise to purchase and sale of real estate units.
, the applicant must prove that they have made some forms of investment. The modalities established in this decree include real estate investment through a promise of sale contract; Investments made through a brokerage house with a license approved by the Superintendency of the Securities Market of Panama and by reason of investment in a fixed-term deposit in the banking sector.
All investments must be held for a minimum of five years.
According to the Government, for the first time, there will be a program that allows qualified investors to apply from abroad. That is, the investment can be made from abroad, through a local lawyer, and the process completed when the investor is in the isthmus.
You can have my cedula for Panama. I don't need that garbage and it was almost for free. 500 K ? Cortizo you have serious mental problems. By the way Panama don't see me again. and my Cedula ia flipped into the garbage can.
Virgil, I can agree with some of what you say in that if you follow the herd, you will only keep pace. To get the best deals and biggest returns you need to be a contrarian. However, your model is overly simplified. Real estate is an elastic market meaning that prices are affected by supply and demand. Whether to buy property is also greatly influenced by your goals are you buying to keep forever and pass on to your family or as an investment to buy cheap and sell as the market improves. The local market here is small and not dynamic. I have seen the same properties for sale going on 8 years. Whether it is a good investment or not depends on a lot of factors. Just don’t get tunnel vision on Panama there will be cheap property going for fire sale prices all over the world soon enough.
I spent over 40 years as a real estate broker and one thing I learned as a hard and fast rule is that when the majority of people are yelling to not do something, that is the oportune time to do it. When everyone is saying the market is terrible...buy! When everyone is saying the market is great...sell quick and get out of the market!
Anyone investing in Panama after everything that has happened and continues to happen here needs a mental evaluation. It's a big world with many options. Everything about Panama is a carefully crafted and presented facade. Any investment in Panama is dead money. Sorry to be so blunt but somebody had to say it.
Looks like another bogus, overpriced, real estate hoax to me... buy invest in some realestate here, over price it propagandize it to the gulible gringos and bingo! Some real estate organzation will make even more money off the marketing with some 'overseas' organization.
Why oh why would anyone want to take residence in Panama after the iron fist clamp down during the corona hoax? There will be more plandemics in the future and you will be treated worse than cattle when that happens.
Antigua offers full citizenship for a $100,000 investment and will be processed in 3 months. Much better deal than residency if your goal is a second passport. https://cip.gov.ag/
Ponchalo went out of business. He was convicted of stealing from a fellow expat and then nobody went to his crummy hamburger stand after that. I never liked his food or him but since I live in Pedasi I only ever ate there twice. Panama is a small place and guys like Ponchalos get a reputation quickly. I'm sure he is lurking somewhere looking for his next victim.
I can't believe that Panama is trotting out this hoax trying to raise capital. It's common knowledge that you can live here forever on a passport or get the friendly nations visa cheap if you want to put forth the effort. There was a short, fat , bald, red faced, grifter gringo who went by the alias ponchalo and he even ran multiple businesses here on just a passport. For like the past 10 years he has been operating in the open. He proved paying for the favored nations visa was not necessary but this hoax of needing to put up 500k? There is always a bigger sucker coming along and that is the whole Panama business model, just wait on the bigger fool to fly in!! Come to think of it I haven't seen that grifter ponchalo lately, maybe the covid got his fat grifter ass🤔