Golden visas in Latin America typically refer to residency or citizenship-by-investment programs that grant foreign investors legal residency—and in some cases, eventual citizenship—in exchange for investments in real estate, businesses, or government bonds. While these programs aren’t usually branded as “golden visas,” several Latin American countries offer attractive pathways for investors. Here are some of the most notable options in the region:
Panama’s ‘Golden Visa’ or Residency by Investment Program
The Panama Golden Visa offers one of the most appealing residency by investment paths in Latin America. It provides a range of benefits and options for investors and their families.
Most Notable Benefits
One of the most notable advantages of Panama’s investor visa lies in the country’s strategic geographic location. For many investors, location is a crucial factor—and in this case, Panama stands out as an ideal gateway to both Central and South America. Its central position makes it easy to reach neighboring markets, facilitating regional expansion and cross-border business opportunities.
Panama is also home to the Panama Canal, one of the world’s most vital trade routes. This global logistical asset significantly enhances the country’s appeal to international investors seeking connectivity and access to global commerce.
Another major benefit of Panama’s visa program is its family-friendly structure. The visa can be extended to include a spouse, children, dependent parents, and disabled relatives, making it a comprehensive option for those seeking to relocate with their families.
Additionally, Panama offers a favorable tax regime for foreign investors. The country does not tax income earned outside its borders, providing a business-friendly environment for international entrepreneurs. Perhaps most notably, the investor visa grants permanent residency from day one, allowing applicants to quickly establish legal residency without the need to pass through temporary visa stages, as is common in other countries.
Panama’s Golden Visa Program Requirements
There are multiple options to guarantee the right to reside in Panama, the country offers different routes making it appealing to more people.
Qualified Investor: The Qualified Investor Visa grants permanent residency by investment. To be a qualified investor these are the options: Invest a minimum of US$ 500,000 in Panama real estate, invest at least US$ 500,000 in the Panamanian stock market, or deposit a minimum of US$ 750,000 in a fixed-term account at a Panamanian bank. It is important to highlight that it is required to hold the minimum investment for at least 5 years.
Friendly Nations: The Friendly Nations Visa is for citizens from specific countries that maintain friendly relations with Panama. To acquire this kind of visa you need to; start a business in Panama or make a work agreement with a Panamanian company, invest minimum US$ 200,000 in real state or deposit US$ 200,000 in a fixed-term deposit account at a national bank in Panama, which must be valid for a minimum of 3 years.
Forestry Investor: The Forestry Investor Visa focuses on sustainable investment in Panama’s reforestation projects. To obtain this visa you need to invest a minimum of US$ 800,000 in an approved reforestation project to get a temporary residence permit for five years, and there is no option to extend it–this kind of investment does not offer Panamanian citizenship. Another option is to invest US$100,000 to acquire a temporary resident permit for two years, meaning you’ll get a temporary residence, and then you are eligible to get a permanent residence permit. After five years, the permanent residency in Panama opens the way to applying for Panamanian Citizenship. Or invest a minimum of US$ 350,000 to get immediate permanent resident status and a Panamanian ID which will also be extended to family dependents.
Important to keep in mind that to qualify for the Panama Golden Visa, the application process and required documents vary depending on the chosen route.
The Golden Visa Program of Brazil, Latin America’s biggest economy
Brazil’s Golden Visa Program is another attractive alternative in the region. It distinguishes itself by granting immediate permanent residency upon approval–a rare advantage in a market where most countries begin with temporary permits. Applications are typically processed within four to six months.
The programs minimal residency requirements further enhance its appeal: visa holders need to spend just 14 days in Brazil every two years to maintain their status. This level of flexibility makes it particularly attractive to global investors seeking mobility without the need for full relocation.
Holders of this visa gain the right to live, work and operate businesses anywhere in Brazil. The visa also opens a clear and accessible path to Brazilian citizenship after only 4 years of residency.
Furthermore, Brazil permits dual citizenship, allowing investors to acquire a second passport without renouncing their original nationality. As European golden visa programs face tighter regulations and reduced benefits, Brazil’s offering stands out as a strong contender in the global residency-by-investment landscape.
It’s also worth noting that a Brazilian passport holder can enjoy visa-free or visa-on-arrival access to 171 countries, including key destinations such as the United Kingdom, United Arab Emirates, Singapore, and all the countries within the Schengen Area. This global mobility makes Brazilian citizenship a valuable asset for international investors.
How can investors qualify for a Brazilian Golden Visa?
An important point to consider is that Brazil aims to attract approximately US$200 million in foreign investment during the program’s first year, while offering one of the most affordable residency-by-investment pathways among major economies.
Investors can qualify by purchasing property worth US$200,000 in Brazil’s South, Southeast or Center-West regions. The government provides a 30% discount for investments in the developing North and Northeast regions, lowering the threshold to US$140,000.
Also, foreigners can invest US$ 100,000 in new or existing Brazilian corporations to secure residency. The program offers an even lower entry point of US$30,000 for investments in innovation, science and technology sectors.
As Golden Visa programs continue evolving globally, Brazil’s entry represents an emerging opportunity in a market where accessible options are becoming increasingly limited. Additionally, Brazil stands out as a competitive option against European programs as it offers key access to Latin America’s largest economy.
Costa Rica’s Golden Visa Program
Costa Rica offers a business-friendly landscape, a favorable tax regime and a safe environment for investors and families. For those who wish to reside in this Central American nation with a steadily growing upper-middle-income economy, the Costa Rica Residence by Investment Program is the most efficient way to acquire such status. Under this program, applicants can contribute to the country’s economy and obtain residency within nine to twelve months, with the possibility to acquire citizenship after 7 years (or 5 years for Central American, Ibero-American and Spanish citizens).
How can investors qualify for a Costa Rican Golden Visa?
It is important to highlight that to obtain residence in Costa Rica, applicants must have a clear criminal record and a valid entry visa. Taking this into account, the country offers several categories for application tailored to the needs of various types of applicants:
Investor Residency: A minimum of US$150,000 is needed in real estate, a business, or government-approved project.
Retiree Residency: For retirees with a guaranteed lifetime pension of at least US$ 1,000 per month.
Rentista Residency: For individuals with a stable income source, requiring proof of at least US$ 2,500 per month for two years (or a US$ 60,000 deposit in cash in a Costa Rican Bank).
Digital Nomad Visa: A temporary permit for remote workers earning at least US$3,000 per month individually or US$4,000 for families.
Tax advantages in Costa Rica and financial considerations
As a resident of Costa Rica, investors will enjoy a favorable tax environment. The country’s income tax rates for residents range from 10% to 25%, depending on the income level. Additionally, property taxes are relatively low, with an average rate of just 0.25% of the property’s value.
Also, other benefits for those holding the Costa Rican Golden Visa have to do with the exemption from certain taxes on personal and household goods imported during the residency process, there are tax incentives for investments in targeted sectors (including renewable energy and eco-tourism), and there are favorable capital gains tax rates in the sale of appreciated assets held for more than one year.
These advantages make Costa Rica an appealing destination for investors seeking both financial incentives and an attractive tax environment.
Uruguay’s Golden Visa Program: A top pick in Latin America
Uruguay has a residency by Investment Program that makes it easy for foreign investors to become legal residents. The program provides an appealing opportunity for those individuals seeking legal or tax residency in a stable and prosperous country. By investing in approved sectors, applicants can embark on a straightforward path to obtaining residency status. Eligible investments may include real estate purchases, business ventures, or other financial contributions, all while ensuring that the source of funds is transparent and verifiable.
It is important to highlight that the application process for permanent residency by investment usually takes around 4-12 months to process, during which time the investor is granted a temporary residence permit valid for 2 years. The program opens doors to Uruguay’s good quality of life, with its safe environment, strong economy and a friendly atmosphere for expatriates in South America.
To obtain a residence permit in Uruguay through investment the primary applicant must be at least 18 years old, in good health and have no criminal record. In addition, family members who can apply for residence along with the main applicant include a spouse, children and parents who are financially dependent of the applicant.
Uruguay’s Golden Visa Program Requirements:
According to Henley & Partners data–the largest globally integrated residence and citizenship advisory firm in the world–Uruguay offers residence with no minimum investment requirement, providing access to excellent healthcare and top-tier education, as well as the right to live, work, and study in the country.
The firm emphasized that applicants must still meet certain requirements, including submitting a certificate of no criminal record from their country of origin and any country of residence over the past five years, presenting a valid health card from an authorized provider, and ensuring that their vaccinations are approved by a recognized Uruguayan vaccination center.
Additionally, the applicant must earn a minimum monthly income of US$1,000 in one of the following ways: employment or entrepreneurship, by demonstrating a monthly income sufficient to cover living expenses, shown through a notarial certificate or social security records. Retirement or pension, by providing a notarial certificate detailing the monthly amount received and the method of access in Uruguay. Or income from abroad.
Also, the applicant should take into consideration that the purchase of real estate over US$500,000, facilitates obtaining tax residence in Uruguay.
It is important to highlight that the minimum monthly income requirement for all the above options increases based on family size and individual circumstances.
Tax Advantages in Uruguay
One of Uruguay’s most attractive financial incentives for applicants has to do with the 10-year tax exemption on foreign-sourced income. After that period, only income brought into the country is taxed. This is an ideal scenario for individuals with overseas investments, pensions or business earnings.
If the applicant is seeking to obtain Uruguayan citizenship, Henley & Partners explains that it is possible after three years for married couples and five years for singles, provided they reside in the country for at least six months each year. To be eligible for naturalization, applicants must demonstrate proficiency in conversational Spanish and show adequate integration into Uruguayan society. Additionally, Uruguay allows dual citizenship, offering the benefit of visa-free travel to over 150 destinations, including the Schengen Area in Europe.