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Unique Opportunity for Permanent Residency with an Investment
For certain, COVID19 is the iceberg's tip; there is a new norm forming, and we need to prepare ourselves and make changes. We are about to face an "unknown" set of New Norms, which means changes in the global economy, national economies, and local economies. Increasing inflation worldwide, the rise of technology resulting in workforce decentralization, and the globalization of skilled technology jobs challenging the value of people's opportunity to earn a sustainable living income in their home countries are just some of the dramatic global changes that have taken shape in 2020.
The impact of COVID19 has accelerated the mobile gig workforce and provoked the potential of long-lasting and extreme government imposed health measures, which will only further destabilize the traditional workforce. These change factors create a high level of anxiety and the potential for greater social upheaval and unrest. We are all concerned about the future for ourselves and our families.
Arguably how can one assess a risk today?
History can no longer provide us with certainty. What is your investment strategy now, you should be asking yourself?
For these reasons, high-net-worth individuals need to assess their assets, their risk strategy and tax liability.
We do not have all the answers, but we have three: 1. You can reposition your investments into residential real estate with investment-grade income yields; 2. Obtain a Permanent Residency option; and 3. Secure a global tax advantage by investing in our Panama Real Estate portfolio.
For foreign investors, Panama's investment opportunity became even more amazing because of Decree 722, announced on October 15, 2020, the new permanent residency visa program for Qualified Foreign investors who want to purchase Panama real estate.
To summarize some of the main advantages:
- Panama is one of the World's leading Banking and offshore centers with a choice of over 50 international leading banks. CRS reporting will be to Panama if you are a resident and not to other countries
- Many international companies in the top 500 have relocated their headquarters to Panama City.
- Panama has transformed into an economic leader in Latin America in a stable and sustained manner over the past ten years. Panama ranks as the 42nd most competitive economy in the World (out of 138), second in Latin America only to Chile (33) and ahead of "developed" economies such as Italy or Portugal. Over 75% of their Gross Domestic Product (GDP) is derived from services (including roughly 10% from the Panama Canal), while agriculture and industry account for the rest.
- Panama companies and Panama registered Foundations can provide excellent asset protection and tax optimization.
- Panama is the home to many Family Offices registered for global investments.
- The New Panama Permanent Residency rule, Decree 722, announced in October 2020, offers Permanent Residency to purchasers of a New Build residence or the payment of a deposit on qualified preconstruction (Off the Plan) residence subject to a minimum US$300,000 investment into Panama real estate.
- Panama residents pay no taxes on worldwide income, low capital gains taxes, no inheritance taxes, and no wealth taxes. Notably, one of the lowest taxation systems in the World today. You must live in Panama six months a year to qualify as a tax resident.
- Permanent Residents are encouraged to incorporate a Panamanian company to make their purchase of real estate to reduce income tax and capital gains tax advantages.
- Panama companies and Panama registered Foundations can provide excellent global asset protection and tax optimization.
The new Decree 722 Qualified Permanent Residency is the best option in the World today for foreign investors. The purchase contracts are conditional upon approval of the Permanent Residency. The purchase contracts are duly registered on title and confirmed by the Panamanian government. In this sense, the Panama law is very protective of the Buyer.
Panama permanent residency for a qualified buyer
- Can be obtained from the Buyer's home country
- Can be obtained within 30 days of application
- Includes immediate family members and older family members who are under their care
- Minimum purchase in approved Panama real estate only needs to be USD 300,000. After two years, this minimum increases to USD 500,000
- Purchase contracts for buyers are conditional upon approval of Panama Permanent Residency
- Our partner pays qualified Buyer's immigration and real estate legal fees
- No minimum stay, visit, or residency requirement, unlike every other country
- Property must be held for five years, although the property can be sold in the first five years to take advantage of investment gains, but the Buyer must purchase another property in Panama and hold it for the balance of 5 years
- No requirement to own property after five years
- Can apply and obtain Panama Citizenship after five years
One of the great advantages of Panama residency is its flexibility regarding minimum stay requirements. You can maintain your Permanent Residency even if you live abroad, but we know that having a property in a foreign country may be difficult.
That is why we offer a unique solution for buyers of our Panama residential properties. We can provide investors a no-hassle 5-year full-service property management program with guaranteed income underwritten by insurance and our partner, a multi-faceted global real estate and credit-risk underwriting group. Our partner's core business is to provide risk management programs in partnership with the stakeholders of residential rental and resort properties, preconstruction condos, multifamily, vacation properties and commercial properties.
Our partner´s property management performance and guaranteed rent outcomes are secured by surety "performance bonds" insured by global insurers and reinsurers rated AM Best A- Excellent or better.
This is a great opportunity if you want to stay in your home country but make a rental profit from your brand-new property in Panama and secure the Best Permanent Residency option leading to citizenship in the World today.
In conclusion, Panama has unparalleled residential and vacation resort property investment opportunities with strong potential for growth and measurable returns that our partners without hesitation guarantee for our investors who chose the Property Management Program.
Either way, Panama is a place where a high-net-worth individual should invest if you intend to have secured rental income in the New Norm and hedge yourself and your family's future and safety with a Permanent Residency in Panama.
For the past ten years, Forbes International Living has ranked Panama as one of the top countries in the World to live and retire.
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