You just sold a company, took it public, or watched it get acquired. Whether you're in California, New York, Ontario or British Columbia, some of that gain already went to the government — and you're now deciding where the rest goes to work. Here's what the numbers actually say about Panama as one option, next to Miami and Austin, with no rounding in your favor.
Before comparing where to deploy capital, it's worth being precise about what a founder or executive typically keeps after a sale, IPO, or acquisition closes in these four markets.
| Jurisdiction | Combined Long-Term Capital Gains Exposure | What's Stacked In |
|---|---|---|
| California | ~37–38% for top earners | 20% federal + 3.8% NIIT + 13.3% state top bracket, plus a 1% mental health surcharge on income over $1M |
| New York (State + NYC) | Up to 10.90% state, taxed as ordinary income; combined exposure can exceed 38% | State rate plus New York City's local income tax on top of federal capital gains |
| Ontario | Among the highest marginal rates in Canada on realized gains | Federal + provincial marginal rate on the taxable half of capital gains |
| British Columbia | Among the highest marginal rates in Canada on realized gains | Federal + provincial marginal rate on the taxable half of capital gains |
Sources: SmartAsset, Kiplinger, TheEntrustGroup, and 2026 capital-gains-by-state summaries. Figures are general reference points for top-bracket earners, not a calculation of your specific liability — every founder's situation depends on entity structure, holding period, QSBS eligibility, and state of residence at the time of sale. Verify your number with your own CPA before making any decision based on it.
Once a chunk of the sale is gone to taxes, the question becomes what the rest actually buys. Here's price per square foot across the markets founders usually compare first.
| Market | Price per ft² | Notes |
|---|---|---|
| Miami — luxury condo | $1,040/ft² (Q1 2026) | Currently a buyer's market |
| Miami — broader market | $400–$700/ft² | Outside the luxury condo tier |
| Austin | $322/ft² (August 2026) | Single-family and condo blend |
| Panama City — citywide average | ≈$181/ft² (~$1,950/m²) | Existing stock, all districts |
| Panama City — new pre-construction | ≈$2,760/m² | Developer-direct, new build |
| Punta Pacífica / Punta Paitilla | $2,900–$3,700/m² | Panama's highest-end oceanfront submarkets |
Sources: CondoBlackBook (2026), Austin Real Estate Homes Blog (2026), GlobalPropertyGuide (2026), Panama Equity (2026).
Price per square foot only tells half the story. Here's how the same capital tends to perform as a rental asset in each market.
Sources: GlobalPropertyGuide, TheLatinvestor, Gabriel Moyers, and Miami Real Group (all 2026). Gross yield figures exclude vacancy, management fees, and maintenance — ask for net numbers before comparing across markets.
Executive Decree No. 17 was signed September 8, 2026 and published in Official Gazette No. 30613 on September 16, 2026 — the date it actually took effect, not October 15 as some earlier sales material and press coverage assumed before the decree landed. The Qualified Investor Visa's real-estate route no longer has a single threshold; the number now depends on what you buy.
Whichever route qualifies, approval brings immediate permanent residency — there is no temporary phase to sit through first. Every route now carries a minimum 5-year hold on the investment, and deals or contracts perfected before September 16 have a 6-month window to file under the previous rules. What isn't immediate is the paperwork: real processing time typically runs 30–90 days from filing, depending on how complete your documentation is when you submit it. We won't promise a flat 30 days — that's not what actually happens, and setting that expectation would set you up to be frustrated with a process that is, in the vast majority of cases, still fast by any normal immigration standard.
This is not legal or immigration advice. Route eligibility and processing time depend on nationality, source of funds, and current regulation — verify your specific situation with licensed immigration counsel before filing. Proper Consulting coordinates route selection and filing.
This dossier is fully readable right here, free, with no form to fill first. For numbers specific to your timeline and the size of your allocation, message Proper Consulting directly on WhatsApp at +507 6238-3315, or leave your details below and a person replies.
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Founders and executives after a liquidity event — covering what a California, New York, Ontario or BC capital gains bill actually costs, and what that after-tax capital buys in Panama versus Miami and Austin.
Yes — it explains the Investor Visa's real-estate route honestly, alongside real yield comparisons, rather than presenting only the upside.
Yes — California, New York, Ontario and British Columbia are the specific jurisdictions modeled in this dossier.