Panama's qualified investor program offers a path to citizenship requiring just one visit every two years over five years, a minimal physical presence requirement. Vice Minister of Internal Commerce Eduardo Arango is promoting this as the country targets to grow the number of applications sixfold.
He explained the president personally signs every citizenship grant, characterizing the presidential approval process as unique globally and demonstrating “how important it is for us to give the Panamanian nationality to someone.” Arango confirmed that qualified investor visa holders will qualify for citizenship after five years by meeting only the minimal physical presence requirement of one visit every two years.
He plans international promotional tours and participation in industry events to raise Panama’s profile among investors unfamiliar with the offering.
The program is primarily aimed at job creation through construction rather than direct revenue generation. While Canadians and Americans can access Panama’s Friendly Nations visa, he noted that route requires two years for permanent residency compared to the 30 to 45 days the qualified investor program delivers.
“By the time you apply, you have already been put through a screening process,” he explained, describing how anti-money laundering checks happen before applications reach immigration authorities because “Panama has one of the world’s strongest banking systems, but it’s also one of the most and best regulated banking systems in the world.”
The government formalized a partnership with Mercan Group to expand the program’s global reach. The program approved 237 applications through September 2025, maintaining a 96% approval rate. The government currently processes roughly 25 investor visas monthly but aims for 150 by 2026, capitalizing on a demographic shift that saw North Americans overtake Colombians as the program’s primary applicants.
“Most of our qualified investors in the last year are coming from North America, either the US or Canada,” he explained, noting Colombia has slipped to third place after dominating applications since the program launched in 2020. He identified Asia as a particular opportunity, given that it accounts for just 5% to 6% of current applications, calling the region “untapped.”
Some believe applicants following the minister’s guidance will likely face rejection. They emphasize the need for concentrated physical presence in the years immediately preceding naturalization applications, describing the one-day-every-two-years approach as insufficient regardless of its official endorsement.
The minister attributed the shift to Panama’s position as “the number one ally of the US, commercial” alongside practical advantages, including dollarized currency and direct flights from every major North American city. He expressed confidence that investors required to visit only once biannually will choose to come more frequently, spending money and using their properties beyond the minimum.
Real estate is the most popular investment option at $300,000, though investors can alternatively park $500,000 in Panamanian securities or $750,000 in time deposits. The government is working to guarantee these rules remain fixed regardless of future administrations.
