Step 1: Step 1 - Eligibility Assessment
For a preliminary eligibility assessment and guidance, the candidate gets in touch with XIPHIAS.
Guided
- From
- $750,000
- Typical timeline
- 3 months
- Family
- spouse, children to 25, parents
- Route
- Residency by Investment / Bank Deposit (Fixed-Term Deposit)
Is this for you?
- Be at least 18 years old and legally admissible.
- Clean police clearance certificate (apostilled/authenticated as required).
- Open a fixed-term deposit of at least USD 750,000 (B/.750,000) in a Panamanian bank with a general license.
- Deposit term must be at least 5 years and free of liens/encumbrances.
- Provide notarized copy of the fixed-term deposit certificate and a bank certificate confirming deposit details and that funds came from abroad.
Not for you if
- Criminal record or inadmissibility issues.
- Failure to prove the lawful source and foreign origin of funds.
- Deposit not meeting program conditions (amount/term/bank license/lien-free status).
Not a match? Other routes in Panama
At a glance
Quick facts
Minimum investment $750,000; Typical timeline 3 months; 4 highlights
- Minimum investment
- $750,000
- Currency: USD
- Typical timeline
- From application start
Highlights
- Panama
- Panama Bank Deposit Residency
- Panama Residency by Investment
- Panama Qualified Investor Visa
Program
Program specifics
- Route type
- Residency By Investment / Bank Deposit (Fixed Term Deposit)
- Eligible residency pathway
- Last updated
- Subject to regulatory change
Information is indicative and may change; confirm current terms with an advisor.
Program overview
Advising Indian families on residency abroad since 2009, from our Koramangala office in Bangalore.
Current Qualified Investor Thresholds
| Route | Minimum |
|---|---|
| Real estate | USD 500,000 |
| Securities (five-year hold) | USD 500,000 |
| Fixed deposit (five-year term) | USD 750,000 |
The USD 300,000 real-estate figure still advertised widely was a transitional rate that has either lapsed already or lapses on 13 October 2026. Budget the higher figure.
Note also that Panama does not permit dual citizenship — its own naturalisation form requires an express, irrevocable renunciation. Residence is safe; naturalising is not.
Your Indian Passport Is Safe On A Residency
Section 9(1) of India's Citizenship Act 1955 ends Indian citizenship only on the voluntary acquisition of another country's citizenship. Holding a residence permit, permanent residence or a long-term visa does none of that.
So every route on this page is safe to hold. What differs between countries is the endpoint — and we will tell you plainly where a route can never become a citizenship, where it can, and what taking that step would cost you.
Talk To An Immigration Consultant In Bangalore
XIPHIAS Immigration has guided Indian families abroad since 2009, from our office in Koramangala, Bangalore. We were named Best Immigration Consultant by The Times of India in 2022. Our immigration consultants in Bangalore will take you through the legal requirements, costs and timeline for Panama.
Sources
Verified against government sources on 30 September 2026.
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Eligibility
- Be at least 18 years old and legally admissible.
- Clean police clearance certificate (apostilled/authenticated as required).
- Open a fixed-term deposit of at least USD 750,000 (B/.750,000) in a Panamanian bank with a general license.
- Deposit term must be at least 5 years and free of liens/encumbrances.
- Provide notarized copy of the fixed-term deposit certificate and a bank certificate confirming deposit details and that funds came from abroad.
- Valid passport (minimum 6 months validity recommended).
- Health certificate from an authorized doctor (issued recently).
- Proof of lawful source of funds and evidence the funds came from abroad.
- Pay required government fees and provide proofs of payment.
Key benefits
- Immediate permanent residency upon approval (Qualified Investor framework).
- Option to apply for an E-Cédula (Panamanian resident ID) after approval, subject to local procedures.
- Eligible dependents can be included (spouse, dependent children, and dependent parents, subject to documentation).
- Eligible to apply for Panamanian nationality after five consecutive years of residence; naturalisation requires renouncing your existing nationality.
- Low-volatility investment structure relative to market-linked options (subject to bank and interest-rate risk).
- Interest on time deposits in Panama is commonly treated as exempt income under Panama tax rules (confirm with your tax advisor).
Who this program is NOT for
- Criminal record or inadmissibility issues.
- Failure to prove the lawful source and foreign origin of funds.
- Deposit not meeting program conditions (amount/term/bank license/lien-free status).
- Early termination of the deposit or failure to maintain the qualifying investment for the required period.
Not a match? Explore other programs in Panama.
Costs & proof of funds
Program fees & proof of funds
Fees listed: 1 line items. Estimated totals: $750,000 (USD). Proof of funds items: 1.
Estimated program totals
USD: $750,000
Required proof of funds
USD: $750,000
Detailed fee table
| Item | Price | When | Notes |
|---|---|---|---|
| Minimum Fixed-Term Deposit | $750,000 | Before submission | Open a fixed-term deposit of at least USD 750,000 (B/.750,000) with a Panamanian bank holding a general license, on a term of at least five years. The deposit must be free of liens and funded from abroad. |
Swipe horizontally to see all columns.
We’ll share a personalized cost sheet after your pre-screen.
Estimates only — final costs may vary by case & government updates.
Proof of funds
- Proof of Lawful Source of Funds & Foreign Origin$750,000
Banking/legal/financial documentation showing the deposit funds originate legally and were transferred from abroad.
Required (USD): $750,000
Figures are indicative and may change with family size, project selection and program updates.
Approved projects
Government-approved developments or investment options vetted for eligibility and exit horizons.
Panama Fixed-Term Deposit (CD) - Qualified Investor Route
Min buy-in750,000 USDHold period60 moQualifying fixed-term deposit in a Panamanian general-license bank, documented with required bank certifications.
Cost estimator
Calculator
Cost estimator
Indicative estimate. Excludes exchange/transfer charges and third-party legal costs. Official fees may change without notice.
Choose a base option
Family size
Adults (incl. principal)
Children (<18)
Summary
Minimum Fixed-Term Deposit
fixed • Qty 1
$750,000
$750,000
Estimated total
$750,000
Application process
Process
How it works
Step 2: Step 2 - Bank Deposit Setup & Documentation
XIPHIAS supports the candidate in coordinating the fixed-term deposit setup, KYC, and assembling route-specific bank certificates and supporting documentation.
GuidedStep 3: Step 3 - File the Application
Authorized local representatives work with XIPHIAS to submit the Qualified Investor permanent residency application to the Panamanian authorities.
GuidedStep 4: Step 4 - Background & Funds Verification
Panamanian officials verify admissibility, source of funds, and the qualifying bank deposit documentation.
GuidedStep 5: Step 5 - Approval & Permanent Residency Card
Upon approval, the applicant receives permanent resident status and completes local procedures for residency documentation and ID processes.
Guided
Disclosure
Risk & compliance
Please read carefully. These notes are informational and do not constitute legal or financial advice.
Risk notes
3 items- The real estate threshold is USD 500,000. The USD 300,000 transitional rate under Executive Decree 722 of 2020, as amended by Executive Decree 109 of 2022, either lapsed in October 2024 or lapses on 13 October 2026, depending on how the transitional article is read. Either reading gives the same practical answer: budget USD 500,000.
- Panama does not permit dual citizenship. Migración’s own naturalisation form requires an express and irrevocable renunciation of the previous nationality, and Article 13 of the Constitution treats acquiring another nationality as tacit renunciation.
- Panama’s Friendly Nations Visa is limited to the nationalities listed in Executive Decree 226 of 2021. XIPHIAS confirms your nationality against the current list with Migración before advising that the route is open to you.
Compliance
4 items- Qualified Investor Visa: real estate USD 500,000; securities USD 500,000 held five years; or a fixed deposit of USD 750,000 on a five-year term. Grants permanent residence.
- Friendly Nations Visa now grants two years provisional residence and then permanent residence — the former immediate-permanent route no longer exists. Real estate USD 200,000, or a fixed deposit of USD 200,000 for three years, or an employment letter.
- Naturalisation after five years under Article 10 of the Constitution, or three years with a Panamanian spouse or children.
- Government fees are payable to the Servicio Nacional de Migración and the National Treasury; XIPHIAS confirms the current schedule for your file.
Checklist
Document checklist
15 total items
Documents vary by profile and family composition; we'll tailor your final list.
Identity & Civil4 items
Identity & Civil
4 items- Valid passport (all applicants)
- Passport-size photos
- Marriage certificate (if applicable)
- Birth certificates for children (if applicable)
Documents may require apostille/authentication and certified translation.
Police & Health2 items
Police & Health
2 items- Police clearance certificate (apostilled/authenticated)
- Certificate of good health (issued recently)
Requirements depend on where you apply and your country of residence.
Investment - Bank Deposit Route (Fixed-Term Deposit)3 items
Investment - Bank Deposit Route (Fixed-Term Deposit)
3 items- Notarized copy (by the issuing bank) of the fixed-term deposit certificate showing holder, amount, and term
- Bank certificate stating existence of the deposit, holder, amount, term, lien-free status, and confirming the funds came from abroad
- Supporting bank account opening/KYC documents (as required by the bank)
These are route-specific documents required for the bank deposit option.
Funds Transfer & Source of Funds3 items
Funds Transfer & Source of Funds
3 items- Bank letter(s) confirming transfer/receipt of funds from abroad
- Bank statements showing the transfer trail
- Affidavit or supporting documentation showing lawful source of funds
Must demonstrate the investment funds' legitimate source and foreign origin.
Dependents (if applicable)3 items
Dependents (if applicable)
3 items- Relationship proof (marriage/birth certificates)
- Student certificate for dependent children aged 18-25 (if applicable)
- Dependency evidence for parents (if applicable)
Additional documentation may apply depending on the dependent category.
Snapshot
Eligible dependents
3 of 4 categories included
3 of 4 categories eligible. Children up to 25. Dependent parents included. Spouse included. Siblings not included.
IncludedNot included
- Spouse
- IncludedYes
- Children
- Up to 25 years25Yes
- Parents
- Dependent parentsYes
- Siblings
- Not includedNo
Frequently asked questions
It is a permanent residency program in Panama created under Executive Decree 722 (and related amendments), allowing permanent residency through qualifying investments such as real estate, securities, or a fixed-term bank deposit.
Open a fixed-term deposit of at least USD 750,000 (B/.750,000) in a Panamanian general-license bank for a minimum term of 5 years, and submit the required bank certificates and immigration documents.
Timing depends on document readiness, the bank's deposit certification and Migración appointments, and a trip to Panama may be required for registration and biometrics. XIPHIAS gives you a file-specific timeline at assessment.
Yes. Typically spouse, children under 18, unmarried dependent students aged 18–25, and dependent parents may be eligible (documentation required).
Interest on time deposits with banks established in Panama is commonly treated as exempt income under Panama tax rules, but individual circumstances vary—confirm with a qualified tax advisor.
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