New Golden Visa rules since September 16, 2026
Executive Decree 17 of 2026 replaced the old rules. The $300,000 minimum still applies, but only to a newly built property bought from the developer. There is no October 15, 2026 deadline — that date came from marketing posts, not from a government decree.
- New-build property (first sale)
- $300,000
- Resale property
- $500,000
- Securities
- $500,000
- Deposit — state bank
- $500,000
- Deposit — private bank
- $750,000
The investment must be kept for 5 years. Applications filed before September 16, 2026 follow the old rules. Confirm with a Panamanian immigration lawyer and the Servicio Nacional de Migración before investing.
Government of Canada · 5/17/2026
Exercise Increased Caution
Generally calm with normal precautions in expat districts. Avoid Mosquito Gulf and Darién Gap.
Costa del Este, San Francisco, Punta Pacífica, Boquete and Coronado see very low incidents. Petty theft can occur in nightlife areas. Avoid the Darién Gap region near Colombia and unmarked parts of Colón.
Panama combines a dollarized economy, territorial taxation, and one of the most accessible residency systems in the Americas. Under the Qualified Investor (Golden) Visa rules in force since September 16, 2026 (Executive Decree 17), the minimum is $300,000 for a newly built property bought from the developer and $500,000 for a resale property, securities, or a deposit at a state bank.
Single budget
$1,800/mo
Couple budget
$2,700/mo
Rent (center)
$1,200/mo
Rent (outside)
$700/mo
Avg temp
27°C
Rainy season
May–November
Internet
140 Mbps
Property /m²
$2,200
| Program | Type | Minimum | Path to citizenship | Source |
|---|---|---|---|---|
| Qualified Investor (Golden) Visa | Investor | $300,000 | 5 years residency | Official ↗ |
| Friendly Nations Visa | Friendly Nations | $200,000 | 5 years residency | Official ↗ |
Best city
Panama City
Visa route
Friendly Nations
Min investment
$300,000
Cost of living
$1800/mo
Tax system
Territorial
Airbnb yield
7-10%
Bureaucracy ease
8/10
Bank account ease
3/5
Pensionado visa is the gold standard: 25–50% off meds, flights, leisure with $1,000/mo pension.
Boquete cloud forest & Bocas del Toro reefs — established eco-lodge market.
Short-Stay Remote Worker Visa
Tax perk: Foreign income exempt (territorial)
9 months + 9-month renewal. USD currency, fast banking.
~15k Lebanese; mosques & halal in Panama City.
~15k, the largest per-capita Jewish community in LATAM. 12+ synagogues, kosher in Punta Pacífica.
Eco-tourism operator quick checklistOpen
- ›Visit 3+ regions in shoulder season — confirm climate, road access, water source, cell signal.
- ›Verify protected-area status (national park buffer, Ramsar, biosphere) — affects build permits.
- ›Run rough P&L: target 50–60 occupancy nights/month at $80–250 ADR for break-even.
- ›Talk to 2 local eco-lodge owners — ask about staff, suppliers, hidden costs (water, generator).
- ›Buy through SRL / SA, never personal name. Title search at land registry + topographic survey.
- ›Confirm zoning allows hospitality (uso turístico). Get municipal building permit pre-purchase letter.
- ›Environmental impact study (EIA) — required above 10 keys in most countries.
- ›Water rights / well permit + septic / wetland treatment design.
- ›Tourism board registration (ICT in Costa Rica, MINCETUR Peru, Mintur Brazil, Sectur Mexico).
- ›Pursue sustainability cert: CST, Rainforest Alliance, Green Globe — unlocks tax breaks & OTA placement.
- ›Fire safety inspection, food handling permit, alcohol licence (if restaurant).
- ›Register with Bomberos / Sayco for music & emergency compliance.
- ›List on Booking, Airbnb, Expedia + 1 niche eco channel (BookDifferent, EcoHotels.com).
- ›Hire & train local staff (8–10 per 12 keys). Spanish/Portuguese mandatory; 1 English-fluent host.
- ›Tour operator partnerships (G Adventures, Intrepid, local DMCs) for guaranteed shoulder-season fills.
- ›Insurance: liability, fire, guest accident, business interruption.
Living and running a business: the ten things that actually matter, side-by-side.
Cost of living
$2,000–3,500/mo couple
Panama City pricier; Boquete & Bocas cheaper.
Visa & residency
Friendly Nations / Qualified Investor
30–90 days. PR from day one: $300K new-build or $500K resale property.
Taxes
Territorial · 25% corp
Foreign income fully exempt — best for online business.
Healthcare
★★★★ Excellent (private)
Hospital Punta Pacífica (Johns Hopkins). Couples insure $200–400/mo.
Safety
Medium
Safe in expat zones; petty theft elsewhere.
English support
★★★★ Widely spoken
Strong in Panama City business and Boquete expat areas.
Banking
★★★ Strong but strict
Global hub; expect compliance docs and in-person opening.
Best business fit
Online business · Airbnb · finance
Territorial tax + USD currency = ideal HQ jurisdiction.
Climate
Tropical, 24–32°C year-round
Boquete is mild (1,100m); coast is humid.
Arab community
Large (Lebanese)
Established families in commerce; mosques & halal in Panama City.
Reality check
Fast residency, USD economy, ideal for online business.
The single most practical choice for English-speaking Canadians who want fast residency, a tax-efficient structure, strong banking, and good infrastructure. Uses the US dollar — zero currency risk. Panama City is a cleaner, safer Miami with a jungle backdrop. Downside: it can feel sterile and transactional, and mid-level bureaucracy still has friction.
English is widely spoken in Panama City's business and financial districts, in Boquete's expat community, and in tourism areas. Arguably the most English-friendly business environment in Central America after Belize.
Arab community
Large, well-established Lebanese community in Panama City's commercial sector. Arabic speakers, halal food, and mosques are readily accessible.
Healthcare
Excellent private care in Panama City — Hospital Punta Pacífica (Johns Hopkins affiliate), Hospital Nacional. Specialist visit $50–150. Couple insurance ~$200–400/mo. Foreign residents can join CSS public system for ~$80–110/mo with no age cap.
Safety
Panama City is broadly safe in Miraflores, Costa del Este, Casco Viejo, Clayton. Avoid El Chorrillo, Curundú, Calidonia at night. Petty theft is the main concern, not violent crime.
Tap a city to open it in Google Maps.
- 📍Panama City — Costa del Este / MirafloresModern expat condos, banking and business hub.
- 📍Casco ViejoHistoric district, premium boutique Airbnb ($100–200/night).
- 📍Boquete (Chiriquí)Spring weather year-round, top retirement town, English-speaking expat community.
- 📍Bocas del ToroCaribbean archipelago, digital nomad scene, water-based ecotourism.
Territorial tax = $0 on foreign-sourced income. Best in region for digital entrepreneurs.
Panama City 5–8% gross yields; Bocas/Boquete 8–12% in season.
Tourism Incentive Law (Law 8) gives up to 20-year tax exemption for qualifying eco-lodges.
Best for
- ✓Online entrepreneurs
- ✓Fast residency seekers
- ✓Banking & holding structures
- ✓USD savers
Watch-outs
- !Qualified Investor: $300k only for new-build property — resale property now needs $500k (since Sept 16, 2026)
- !Banks are cautious post-FATCA — bring strong documentation
Qualified Investor (Golden) Visa — new rules since Sept 16, 2026 (Executive Decree 17): $300,000 for a new-build property, $500,000 for a resale property or securities. Friendly Nations Visa also available with title-deed property or $200k bank deposit + local economic tie.
- 1
Gather Canadian documents
Passport (6+ months validity), RCMP criminal background check (apostilled), birth & marriage certificates (apostilled by Global Affairs Canada), bank statements (last 6 months).
- 2
Translate & legalize
Official Spanish/Portuguese translation of all apostilled documents by a sworn translator in-country.
- 3
Open exploratory trip
Spend 2–4 weeks in Panama City to vet neighborhoods, lawyers, and accountants before committing.
- 4
Hire local immigration lawyer
Budget USD 2,500–6,000. Required for filing; do not DIY a ${c.visaType} visa.
- 5
Choose economic tie
Either USD 200k real estate, USD 200k fixed-deposit, or local employment contract.
- 6
File Friendly Nations application
Lawyer files with Servicio Nacional de Migración; provisional card in ~30 days, permanent in ~24 months.
- 7
Get local tax ID & open bank account
Bank account ease: 3/5. Bring residency card, utility proof, and reference letter from your Canadian bank.
- 8
Register for healthcare & enroll dependents
Private international plan (~USD 100–250/mo) recommended in addition to public system.
- 9
File NR73 with CRA
Declare non-resident status to Canada Revenue Agency to stop worldwide taxation; settle departure tax on unrealized gains.
Single person, mid-range lifestyle
| Rent (1BR mid-range) | $810 |
| Groceries & dining | $396 |
| Transport | $144 |
| Utilities & internet | $180 |
| Private health insurance | $180 |
| Leisure & misc | $90 |
| Monthly total | $1,800 |
| Immigration lawyer fees | $4,500 |
| Government visa fees & apostilles | $1,500 |
| Document translation | $800 |
| Exploratory trip (2 wks) | $3,500 |
| Shipping household goods | $6,000 |
| Visa investment / qualifying capital | $300,000 |
| First/last month rent + deposit | $2,430 |
| Company incorporation & accountant (yr 1) | $3,500 |
| One-time total | $322,230 |
Estimated all-in Year 1 cost
$343,830
One-time relocation + 12 months of living costs. Excludes business operating expenses.
Concrete starting points with rough startup capital, monthly run-rate, and the licences you'll actually need to file. Estimates are USD, ballpark — confirm with a local attorney before committing capital.
Casco Viejo boutique short-term rental (2BR)
Acquire a renovated 2BR in Casco Viejo (UNESCO district). Premium nightly rates $120–220 from business + heritage tourism.
- ›Aviso de Operación (business permit) via PanamaEmprende
- ›Tourism registry with ATP
- ›Casco Viejo OCA architectural review for any renovation
- ›Municipal short-term rental notification
Boquete eco-lodge / cabañas (4–6 units)
Coffee-country cabins in Boquete or Volcán. Apply for Law 8 tourism incentives: up to 20-yr income tax exemption.
- ›Law 8 / Law 122 tourism incentive registration with ATP
- ›Environmental Impact Study (MiAmbiente)
- ›Municipal building & operating permits
- ›Sanitary permit (MINSA)
International services SA (consulting / SaaS)
Panamanian SA invoicing foreign clients. Territorial tax = $0 income tax on foreign-source revenue.
- ›SA incorporation via local attorney
- ›Aviso de Operación
- ›RUC tax ID
- ›Resident agent (lawyer) annual fee
Costs reflect a Canadian operator buying turnkey or near-turnkey assets. Land-from-scratch builds typically run 30–60% higher.
Tailored for English- and Arabic-speaking investors moving to Panama. Toggle the language, then download a print-ready bilingual PDF.
Business type — tailors steps & licences
Official government links · روابط رسمية
- Servicio Nacional de Migración (SNM)National immigration authority — visa categories & formswww.migracion.gob.pa/
- Friendly Nations Visa infoOfficial visa portalwww.migracion.gob.pa/inicio/visas
- Ministry of Foreign Affairs (MIRE)Embassy & consulate locatormire.gob.pa/
Always verify on the official site before paying any fees. Government URLs and forms change.
Phase 1 — Before you fly
- ▢Passport valid for 12+ months with 4+ blank pages.
- ▢Police clearance / criminal record certificate, apostilled or legalized.
- ▢Birth certificate (and marriage certificate if applicable), apostilled.
- ▢Bank statements last 6 months + proof of source of funds.
- ▢Certified translation of every document into Spanish/Portuguese.
- ▢Engage a local immigration lawyer (budget USD 2,500–6,000 for the Friendly Nations route).
- ▢International health insurance covering first 6 months.
Phase 2 — Visa filing (Friendly Nations)
- ▢Wire qualifying capital (≥ $300,000) from your home bank to in-country escrow; keep SWIFT proof.
- ▢Open initial bank visit in Panama City (account often takes 30–90 days).
- ▢File full visa dossier with the immigration authority.
- ▢Receive provisional residency card; register at the Arab/Lebanese embassy or consulate if applicable.
- ▢Apply for local tax ID (RUC / CURP / RNC / DNI depending on country).
Phase 3 — Settle in & convert to permanent
- ▢Sign 12-month lease only after living 4–8 weeks in the city.
- ▢Renew residency before expiry; track day-counts to avoid losing status.
- ▢After 2–5 years, file for permanent residency / passport eligibility.
- ▢Settle exit-tax obligations with your home country (declare non-residency).
Phase 1 — Validate before you incorporate
- ▢Spend 2–4 weeks scouting suppliers, competitors, and customer demand in Panama City.
- ▢Validate price points in USD and local currency; account for FX risk.
- ▢Interview 5+ Arab/expat business owners already operating locally.
Phase 2 — Incorporation & banking
- ▢Choose entity type: SA / SRL / LLC equivalent — confirm with local lawyer + accountant.
- ▢Reserve company name and register articles of incorporation.
- ▢Obtain commercial registry number and tax ID for the company.
- ▢Open corporate bank account (ease in Panama: 3/5 — bring residency, lease, reference letter).
- ▢Set up bookkeeping software + monthly accountant retainer (mandatory in most LATAM countries).
Phase 3 — Licences, hiring & launch · General / Not sure yet
- ▢Apply for the sector licence(s) that match your activity (tourism, food, import/export, real estate, fintech…).
- ▢Register with social security / IGSS / IMSS to legally hire staff.
- ▢Sign written employment contracts; never pay staff in cash without payroll.
- ▢Buy commercial liability insurance before opening doors.
- ▢Confirm tax regime: Territorial — file monthly VAT/IVA returns even if zero.
- ▢Set up a separate USD account abroad for retained earnings (FX hedge).
Tailored for a Canadian entrepreneur. Progress saves to this browser.
Before leaving Canada
First 30 days in-country
First 90 days
Ongoing compliance
| English | Arabic community | Bureaucracy | Banking | Tax | Visa min |
|---|---|---|---|---|---|
| 4/5 | 4/5 | 8/10 | 3/5 | Territorial | $300,000 |