Panama Elevates Its Qualified Investor Visa With Bill No. 299

Panama has once again proven why it remains one of the most strategic and forward-thinking destinations for investors seeking freedom, flexibility, and long-term security. The National Assembly has officially approved Bill No. 299, a new law that strengthens the Qualified Investor Visa (QIV) program. The bill has passed all three legislative stages and now awaits only the President’s signature, which is typically a formality in Panamanian politics.

Introduced in August 2025 by Deputy Pedro Quijano, the bill is designed to reward foreign investors who have contributed significantly to Panama’s economy and reaffirms the country’s status as one of the most attractive Plan-B destinations in the world.

If you are an Expat Money Hub Member, you were among the first to hear about this proposal when it was initially presented. Now that it has cleared the National Assembly, what was once a projection has become a reality, changing everything for those seeking permanent residency and international diversification.

In this article, we will explore what Bill No. 299 contains, what the new Travel Document means for investors, and why now is the time to act before the investment threshold increases in October 2026.

A NEW ERA FOR PANAMA’S QUALIFIED INVESTOR VISA

The Qualified Investor Visa was first introduced in October 2020 under Executive Decree 722. It was designed to attract foreign capital while giving investors something exceptional in return: immediate permanent residency. Unlike most residency programs that require several years of renewals, Panama offered a direct and permanent solution from the start.

Between July 2024 and July 2025, the QIV program attracted over $100 million USD in foreign direct investment, more than any other residency program in the country. This success has strengthened multiple sectors, from real estate and construction to finance and tourism, proving the program’s vital role in Panama’s economic strategy.

The investment routes remain flexible and accessible. The most popular option is real estate, where the minimum threshold of $300,000 USD remains in effect until October 2026. After that date, it will increase to $500,000 USD. Other routes include investing $500,000 USD in Panamanian securities or placing $750,000 USD in a five-year fixed-term bank deposit. Each option offers security and stability depending on your personal strategy and risk tolerance.

With the approval of Bill No. 299, the program has become even more appealing. Once your QIV is approved, you will be able to apply for a special Panamanian Travel Document through the Passport Authority. After paying the standard fees, you will receive an official document that serves as proof of residency and formal recognition on the same level as the well-known Rentista Retirado category.

Through this new law, Panama is sending a clear message: it intends to reward investors who bring capital, stability, and long-term commitment to the nation.

Related content: Panama Qualified Investor Visa: The Best Residency Visa In Central America?

WHAT BILL NO. 299 ACTUALLY PROPOSES

Bill No. 299 amends Articles 20, 23, and 24 of Law 32 of 2013, which governs the Panamanian Passport Authority. The purpose of these amendments is to extend Travel Document privileges to holders of the Qualified Investor Visa, placing them on equal legal footing with residents under the Rentista Retirado program.

Here are the key provisions:

• Article 20 Amendment: The Passport Authority is now authorized to issue Travel Documents not only to Panamanian citizens and Rentista Retirado residents, but also to Qualified Investor Visa holders recognized by the National Migration Service.

• Article 23 Amendment: Foreign nationals approved under the QIV program will be entitled to apply for this special Travel Document once the National Migration Service has formally issued their permanent residency status.

• Article 24 Amendment: To obtain the Travel Document, QIV holders must present an authenticated migration resolution, pay the official fees, and complete the application form before the Passport Authority.

• Implementation and Regulation: The Executive Branch must issue detailed regulations within six months of promulgation, defining the process, format, and validity period of the Travel Document.

The law will override any conflicting legislation and take effect immediately upon promulgation. In short, this means that once the President signs it, QIV holders can begin applying directly for their Travel Document, formalizing their residency in a way that mirrors the long-standing privileges of Rentista Retirado residents.

WHAT THE NEW TRAVEL DOCUMENT MEANS FOR INVESTORS

The approval of Bill No. 299 introduces a new benefit that makes the Qualified Investor Visa even more powerful. The Travel Document does not grant citizenship or full political rights, but it serves as official proof of permanent residency and offers greater international recognition. For anyone seeking a strong Plan-B, this is an invaluable addition.

Based on the structure of the existing Rentista Retirado program, it is expected that the Travel Document will be tied to the investment itself. While permanent residency remains intact even if the qualifying investment is sold after five years, maintaining the Travel Document will likely require keeping capital invested in Panama or reinvesting within a reasonable period, such as six months. This ensures that the program continues to attract serious, long-term investors rather than short-term speculators.

This development reflects a broader strategy by the Panamanian government. The focus is on rewarding those who bring real value to the country, while strengthening transparency and due diligence. The Travel Document creates a new level of credibility for investors and demonstrates Panama’s commitment to remaining one of the most competitive and secure investment residency destinations in the world.

Related content: José Raúl Mulino: The Leader Shaping Panama’s Future

With Bill No. 299, Panama has elevated its Qualified Investor Visa into a world-class residency program—offering unmatched benefits, long-term security, and a limited-time opportunity for investors to act before thresholds rise and requirements tighten

CONCLUSION

With the approval of Bill No. 299, Panama has taken the Qualified Investor Visa to a new level of excellence. It now stands as one of the most robust and investor-friendly residency programs in the world, offering immediate permanent residency, a clear path to citizenship after five years, and soon, a Travel Document that provides enhanced recognition and mobility.

However, timing is everything. The current $300,000 USD real estate threshold is valid only until October 2026, when it will rise to $500,000 USD. In addition, the government has already signalled that due diligence and proof-of-funds requirements will become stricter as the program grows in popularity. Acting now allows investors to secure residency under the current rules and to be among the first eligible for the new Travel Document once the President signs Bill No. 299 into law.

Panama has reaffirmed its commitment to stability, investor protection, and opportunity. The message is clear: early movers will be rewarded. If you are serious about building a strong Plan-B, protecting your wealth, and achieving true international freedom, now is the time to take action. Panama has just made one of the best residency programs in Latin America even better, and waiting could mean missing out on the favourable conditions available today.