July 9, 2024
Foreign investments exceed US$10 million in residency program in Panama
More than US$10.4 million in investments have been generated by the certifications of the Permanent Residence Program as a Qualified Investor, approved by the Ministry of Commerce and Industries (MICI) and the National Immigration Service (SNM) during the months of March and April 2024.
As reported by the General Directorate of Investor Services (DIGESI), these certifications are governed by Executive Decree No. 722 of October 15, 2020 and have been used mainly by entrepreneurs from Colombia, the United States, Russia, Germany and China. Other countries mentioned include South Africa, Canada, Nicaragua, Spain and the Netherlands.
Daniel Yau, director of DIGESI, expressed optimism about the latest certifications registered: 12 for an investment amount of US$4,422,436.75 in March and 7 for investments of US$6,001,635.58 in April.
The institution remains active in promoting the benefits of this program, which is part of the government’s efforts to boost the economy, create sources of employment and attract greater foreign direct investment.