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Excellent option in the land of opportunities: Panama is extending its visa program benefit
Since this is one of our favorite jurisdictions, we have written many articles about it. We're talking about Panama, a place where opportunities are right around the corner.
We were very excited to present the Qualified Investor Visa just when it launched in 2020, which was a historic event in Panama. All in all, this is the first equivalent to the European golden visa as it offers permanent residency in exchange for a real estate investment.
Originally, the program was set up with a minimum investment of $300,000 for only two years which would become $500,000 after the said period.
For those who want to invest in Panama, Mundo brings excellent news so that you can seize this amazing opportunity.
Panama to extend the benefit of the Qualified Investment Visa
Panama's vice president, Jose Gabriel Carrizo, is the one who brought the good news by announcing an additional extended period of 24 months in which investors can access the qualified investment program for a minimum investment of $300,000.
The decision was based on the program's success as it managed to attract over 100 investments bringing important revenue to the country. The estimated amount collected is 55 million balboas (equivalent to U.S. dollars) brought to the country by citizens of mainly Canada, Colombia, and Peru.
According to Carrizo, there are only a few activities that bring high value to the economy and one of these is definitely real estate construction. Hence, this visa extension is expected to support this sector. Moreover, the construction of private residences and public infrastructure contributes to the development of the private sector generating many direct and indirect job positions. This translates into benefits for everyone.
The construction sector in Panama has gradually reactivated private projects and their influences. For example, the construction sector passed from taking 10.9% to 11.7% of the GDP in 2021 and 2022 respectively. In other words, this new opportunity in Panama is a measure that intends to maintain this positive trend.
An opportunity that cannot be missed
So, why is this important to Mundo? For over five years we've been writing about exciting opportunities to generate wealth and achieve personal freedom. This is our commitment and we're proud of it.
This is why we can't miss the opportunity to share the good news with our readers. The advantages of Panama are immense both for running businesses and establishing a place of residency.
Firstly, we're talking about a country with territorial taxation for which the first step is having legal residency. If you're a tax resident in Panama, your foreign-earned income will be free of tax. We've discussed this strategy thoroughly on several occasions and, although this is a complex matter, one thing is clear: to establish Panamanian tax residency you need to start by having a legal residency.
So, how does this relate to the Qualified Investment Visa Program? The answer is simple: you have two more years to get permanent residency with a straightforward process and the real estate investment of only $300,000 which will, according to the program legislation, eventually increase to $500,000.
Why should you own real estate in Panama
This Panama visa extension brings a new opportunity to invest in the canal country. There are many real estate options in Panama that you can use as your primary residency, as your Plan B residency, or as a powerful income generator.
If you decide to live in Panama, you're going to need a place to live, and if you purchase through the Panama Qualified Investment Visa you have the benefit of acquiring residency as well.
When it comes to the Plan B, you can have your Panama apartment as an investment generating rent income or a place to go in case things get ugly in your own country. The future is uncertain, and no place is free from communism, pandemics, lockdowns, restrictions, and draconic taxation. Naturally, some places are more prone to these issues, but this subject is beyond this article.
What we're trying to say is that through the Qualified Investment Program and the recently announced extension you have a new opportunity in Panama to establish your second home.
Finally, since Panama is an international hub and a cosmopolitan destination, your real estate investment here will be highly profitable. Panama is home to the Panama Canal which also generates job positions and attracts foreign capital and enterprises. With this come many foreigners that want to work or do business in the country. Naturally, they need accommodation, and your apartment can be the place where they go to.
Profits can be generated either through capital gains, selling after a few years, or by generating passive income through rental activities.
Why is this a great opportunity?
Mundo has close connections to one of the most renowned developers in the country and they can offer you great deals, construction prices, rental management solutions, and other related services in Panama.
In line with our anarcho-capitalist philosophy based on Ayn Rand’s books and ideas, we offer the best of the best and work with reliable providers, lawyers, bankers, brokers, advisors, and accountants.
If you're not willing to let this opportunity go by, don't waste another minute and contact your Mundo expert now.
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