Step 1: Step 1 - Eligibility Assessment
For a preliminary eligibility assessment and guidance, the candidate gets in touch with XIPHIAS.
Guided
- From
- $500,000
- Typical timeline
- 3 months
- Family
- spouse, children to 25, parents
- Route
- Residency by Investment / Securities (Stock Market)
Is this for you?
- Be at least 18 years old and legally admissible.
- Clean police clearance certificate (apostilled/authenticated as required).
- Qualifying securities investment of at least USD 500,000 via a licensed Panamanian brokerage (Panama Stock Exchange route).
- Maintain the qualifying investment for at least 5 years.
- Valid passport (minimum 6 months validity recommended).
Not for you if
- Criminal record or inadmissibility issues.
- Failure to prove the lawful source and foreign origin of funds.
- Non-compliant brokerage documentation or non-qualifying securities/investment structure.
Not a match? Other routes in Panama
At a glance
Quick facts
Minimum investment $500,000; Typical timeline 3 months; 4 highlights
- Minimum investment
- $500,000
- Currency: USD
- Typical timeline
- From application start
Highlights
- Panama
- Panama Stock Market Residency
- Panama Residency by Investment
- Panama Qualified Investor Visa
Program
Program specifics
- Route type
- Residency By Investment / Securities (Stock Market)
- 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).
- Qualifying securities investment of at least USD 500,000 via a licensed Panamanian brokerage (Panama Stock Exchange route).
- Maintain the qualifying investment for at least 5 years.
- 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.
- Option to apply for an E-Cedula (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.
- Diversify holdings through regulated securities investment, with potential liquidity relative to real estate.
Who this program is NOT for
- Criminal record or inadmissibility issues.
- Failure to prove the lawful source and foreign origin of funds.
- Non-compliant brokerage documentation or non-qualifying securities/investment structure.
- 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: $500,000 (USD). Proof of funds items: 1.
Estimated program totals
USD: $500,000
Required proof of funds
USD: $500,000
Detailed fee table
| Item | Price | When | Notes |
|---|---|---|---|
| Minimum Securities Investment | $500,000 | Before submission | Invest at least USD 500,000 in qualifying securities through a licensed Panamanian brokerage and hold them for at least five years. |
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$500,000
Banking/legal/financial documentation showing the investment funds originate legally and were transferred from abroad.
Required (USD): $500,000
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 Stock Exchange Securities Portfolio
Min buy-in500,000 USDHold period60 moQualifying securities investment via a licensed brokerage firm, registered through the Panama securities market framework.
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 Securities Investment
fixed • Qty 1
$500,000
$500,000
Estimated total
$500,000
Application process
Process
How it works
Step 2: Step 2 - Complete the Investment & Documentation
XIPHIAS assists the candidate in completing the qualifying securities investment and submitting the required documentation.
GuidedStep 3: Step 3 - File the Application
Authorized local representatives work with XIPHIAS to submit the application for permanent residency to the Panamanian government.
GuidedStep 4: Step 4 - Background & Funds Verification
Panamanian officials look into and confirm the applicant's investment, funding source, and background.
GuidedStep 5: Step 5 - Approval & Permanent Residency Card
The individual receives a permanent resident card and direct permanent status in Panama upon acceptance.
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
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 & Brokerage (Stock Market Route)3 items
Investment & Brokerage (Stock Market Route)
3 items- Brokerage certification stating investor name, investment amount, and securities details
- Notarized copy of the brokerage firm license/resolution issued by the securities market regulator
- Certification of registration of the securities corresponding to the investment
These are route-specific documents required for the securities investment option.
Funds Transfer & Source of Funds3 items
Funds Transfer & Source of Funds
3 items- Bank letter 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 obtained through a qualifying investment (e.g., real estate, securities, or bank deposit) under the Qualified Investor framework.
Applicants must be 18+, have a clean criminal record, be in good health, and prove a lawful source of funds.
Yes. Typically spouse, children under 18, students aged 18-25 who are financially dependent, and dependents with disabilities may be eligible (documentation required).
You must invest at least USD 500,000 in qualifying securities through a licensed Panamanian brokerage connected to the Panama Stock Exchange, and maintain the investment for at least 5 years.
Typical processing is about 2-3 months depending on document readiness, verification, and appointment availability.
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