Please note that as long as you made the investment in real state for at least $300,000, you can apply for Panama’s Self Economic Solvency Visa. You can buy foreclosed properties and apply once the properties are under you name.
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How can I invest in foreclosed properties and qualify for Panama’s Self Economic Solvency Visa?
I am wondering if foreclosed properties are acceptable for the Self Economic Solvency Visa of Panama. I know of some good properties in the market with great appreciation potentials and I want to make an investment.
Answers
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The Economic Solvency Visa requires a minimum investment of $300,000 in real estate in Panama. Any type of titled real estate is accepted, as long as it is purchased and recorded in your name or your company´s name, without liens or mortgage. Buying foreclosure properties is direct with the financial institutions that own them or during the foreclosure process by bidding at the respective court.
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As long as you purchase properties totaling a minimum of $300,000, you’ll be eligible for a Self-Economic Solvency residency permit, regardless of the purchase process, whether it was a regular acquisition or through a foreclosure process.
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For foreclosed properties, the embargo judicial procedure is complex and is not fast. When there is a judicial seizure order, the next step is the auction. Therefore, until the property does not exist in your hands, it will not be considered your property. The origin or manner of how you obtained the property is not of great importance to migration. They are only of interest in the investment and fulfillment of the legal requirement for that application of residency.
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