On October 28, 2025, Law 493 of 2025 was enacted, amending Law 32 of 2013 —which created the Panama Passport Authority— to establish a special passport or travel document regime for foreign nationals who, holding permanent residency in Panama under the “qualified investor” category, meet the minimum investment required by regulation.

The law aims to grant a preferential migratory status to individuals who make a significant investment, through the issuance of a special passport or travel document by the Passport Authority. Although the law does not specify the investment amounts or time frames —deferring these to the forthcoming regulatory decree— it does define its core elements: previously granted permanent residency, minimum investment, application procedures before the immigration authority, and the application of executive regulations.

Key benefits include:

• Strengthened legal certainty for foreign investors, as their migratory category is recognized within a specific legal framework.
• Increased attractiveness of Panama as a destination for international investment and long-term residency.
• Access to a passport or document with a status distinct from ordinary residency, which may facilitate migratory and international mobility processes.

Regarding requirements, the Law establishes that:

• The applicant must be a foreign national holding permanent residency in Panama under the qualified investor category.
• The applicant must have completed—or commit to completing—the minimum investment to be defined by the Executive Branch.
• The application must be submitted to the Passport Authority, in compliance with administrative and formal requirements and the payment of fees established by regulation.

The procedure will operate as follows (in summary):

1. Investment made by the foreign national following the criteria to be determined by regulation.
2. Obtaining permanent residency under the qualified investor category.
3. Filing the application before the Passport Authority.
4. Verification of compliance with requirements (investment, documentation, residency) by the authority.
5. Once issued, the special passport or document grants the beneficiary access to the preferential migratory status.

At Quijano & Associates, we remain at your disposal to provide assistance with investment structuring, residency applications, and the processing of the special passport under Law 493.