You're evaluating Panama as a place to put capital — maybe for yield, maybe for lifestyle, maybe for residency, maybe all three at once. Before you settle on a strategy, here's the full picture: what a comparable sale or income likely costs you in tax elsewhere, what that capital actually buys here versus Miami and Austin, what it yields as a rental, and what residency really requires under current law. No rounding in our favor, and no assumption yet about which segment fits you.
Before comparing where to deploy capital, it's worth being precise about what an investor typically keeps after a sale, a liquidity event, or simply a high-earning year in these four jurisdictions.
| 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 |
Panama runs a different system entirely: territorial taxation, with no tax on foreign-source income, a top personal rate of 25%, and no inheritance, gift, or net-worth tax. That's not a loophole — it's simply how the jurisdiction is structured, and it's one of the reasons capital tends to relocate here regardless of which segment — rental yield, lifestyle, land, or residency — ends up mattering most to you.
Sources: SmartAsset, Kiplinger, TheEntrustGroup, and PwC Tax Summaries (2026). Figures are general reference points for top-bracket earners, not a calculation of your specific liability — every investor's situation depends on entity structure, holding period, and state or provincial residence. Verify your number with your own CPA before making any decision based on it.
Once tax is accounted for, the next question is what the remaining capital actually buys. Here's price per square foot across the markets investors 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.
The data above applies broadly, but the right next step depends on what you're actually trying to accomplish. Each of the five paths below has its own dedicated dossier — same standard of sourcing, specific to that strategy.
Chasing cash flow. Gross yields of 6–9%+ in the right submarket, and what licensing actually requires.
Read the STR Dossier →Branded residences, oceanfront towers, and the case for owning here beyond the spreadsheet.
Read the Luxury Dossier →Raw land and developer-backed plots — the longer game on appreciation, and the risks nobody advertises.
Read the Lands Dossier →Six residency routes compared, real costs and timelines, and the threshold that changed under Decree 17.
Read the Visas Dossier →Sold a company, took it public, or got acquired? What the numbers say about redeploying capital here.
Read the Founder's Dossier →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.
A person replies — no automated sequences.
Real tax comparisons versus California, New York and Canada, price-per-square-foot data against Miami and Austin, actual rental yields, and the Investor Visa's real-estate route — a complete investment picture before deciding on a strategy.
Yes — it's built to surface the sections most relevant to your situation rather than presenting one generic document to everyone.
No — the Founders Dossier is scoped specifically to post-liquidity-event founders and executives; this flagship dossier is the broader Panama investment picture for any investor.