Panama Enacts Major Upgrade To The Qualified Investor Visa

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. I have just received word this week that Panama's National Assembly has officially approved Law No. 493 of 2025 (formerly Bill No. 299), a new law that strengthens the Qualified Investor Visa (QIV) program. The bill has passed all three legislative stages and has now been signed into law by President José Raúl Mulino on October 28, 2025, making it officially in force.

Introduced in August 2025 by Deputy Pedro Quijano, the law 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.

Clients of mine and those in our membership programs heard about this back in August when I first got word of it from a trusted source. Now that it has cleared the National Assembly and been promulgated, what was once a proposal has now become reality — and this one is a game-changer for those seeking or who already have Panama's Qualified Investor Visa — hands-down the best visa in the region.

In this article, we will explore what Law No. 493 contains, discuss the new special Panamanian passport that accompanies it, and explain why now is the time to act before the investment threshold potentially rises 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 likely increase as scheduled 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 Law No. 493, the program has become even more appealing. Once your QIV is approved, you will be able to apply for a special Panamanian passport through the Passport Authority. After paying the standard fees, you will receive an official passport 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 LAW NO. 493 ACTUALLY CONTAINS

Law No. 493 of 2025 amends Articles 20, 23, 24, and 25 of Law 32 of 2013, which governs the Panamanian Passport Authority. The purpose of these amendments is to extend special passport privileges to holders of the Qualified Investor Visa, placing them on the same legal footing regarding passport issuance as residents under the Rentista Retirado program. This special passport, for all intents and purposes, acts as a Panamanian passport — only it doesn't convey citizenship.

Here are the key provisions:

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

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

• Article 24 Amendment: To obtain the special passport, QIV holders must present an authenticated migration resolution, pay the official fees, and complete the application form before the Passport Authority. These special passports are valid for the same term as the residence permit granted by Migration — for permanent residents, this means the passport will follow the standard renewal cycles established by the Passport Authority — and they do not replace a regular passport or confer nationality.

• Article 25 Amendment: The Passport Authority will maintain control and oversight to ensure the proper use of these passports by all eligible categories.

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

The law supersedes any conflicting legislation and takes effect immediately.

WHAT THE NEW SPECIAL PASSPORT MEANS FOR INVESTORS

The enactment of Law No. 493 introduces a new benefit, making the Qualified Investor Visa even more attractive. The special passport 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.

The validity of the passport is tied to the residence permit. While permanent residency under the QIV program is indefinite, the passport itself will likely follow standard validity and renewal procedures defined by the Passport Authority. The forthcoming executive regulations will clarify these operational details within six months of the law’s enactment.

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 special passport 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 Law. 493, 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 enactment of Law No. 493 of 2025, 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 now, a special passport 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 can 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 special Panamanian passport under Law No. 493.

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.