Mauritius Permanent Residency (Property Purchase) vs Panama Friendly Nations Visa
A factual side-by-side comparison of two residency programmes. All figures are drawn from the canonical program pages — follow either link in the table header for sources and the full profile.
Key Differences at a Glance
- ›Panama Friendly Nations Visa is faster: 3 months vs 4 months for Mauritius Permanent Residency (Property Purchase).
- ›Lower capital: Panama Friendly Nations Visa (200,000 USD) vs 375,000 for Mauritius Permanent Residency (Property Purchase).
- ›Panama Friendly Nations Visa uses territorial taxation; Mauritius Permanent Residency (Property Purchase) taxes worldwide income.
Mauritius Permanent Residency (Property Purchase) Mauritius · investment | Panama Friendly Nations Visa Panama · passive income | |
|---|---|---|
| Country | Mauritius | Panama |
| Category | Investment | Passive Income |
| Application Fee | $1,000 | $800 |
| Minimum Income | — | — |
| Minimum Investment | $375,000 | $200,000 |
| Processing Time | 4 months | 3 months |
| Family Included | Spouse, dependent children, and parents included on the principal's permit | Spouse and dependents can be included on the same application at minimal additional cost |
| Path to PR | Yes — 0 years | Yes — 0 years |
| Path to Citizenship | Yes — 5 years | Yes — 5 years |
| Physical Presence | PR permit valid 10 years (renewable while property is held). No minimum stay — holder may live in Mauritius full-time, part-time, or visit only. | Must visit Panama at least once every 2 years to maintain permanent residency |
| Dual Citizenship | Allowed | Allowed |
| Tax Impact | Mauritius operates residence-based taxation with a 15% flat PIT plus 10% Solidarity Levy on income above MUR 3M. PR holders become Mauritian tax residents at 183+ days physical presence; foreign-source income is taxable but no remittance requirement — i.e. no UK-style 'remittance basis' is needed because the rate is already low and the Mauritian network of 47+ tax treaties relieves double taxation. | Panama uses a territorial tax system; only Panama-sourced income is taxed. Foreign income — including remote work earnings, investments, pensions, and business income from abroad — is completely exempt from Panamanian income tax. |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Territorial |
| Renewal Cost | $1,000 | — |
About Mauritius Permanent Residency (Property Purchase)
Mauritius Permanent Residency through property purchase grants a 10-year renewable residence permit to non-citizens who buy property worth at least USD 375,000 in any of the government-approved real-estate schemes (PDS — Property Development Scheme, RES — Real Estate Scheme, IRS — Integrated Resort Scheme, IHS — Invest Hotel Scheme, G+2 ground-plus-two apartment, or Smart City Project). The PR permit covers spouse, dependent children, and parents. Naturalisation is possible after 5 years of legal residence (continuous residence required). Combined with Mauritius's 15% flat PIT, 47+ tax treaties, and FATF white-list status, the route is one of the more tax-efficient long-term-residency programmes globally.
Full Mauritius Permanent Residency (Property Purchase) profile →About Panama Friendly Nations Visa
Panama's Friendly Nations Visa grants immediate permanent residency to nationals of approximately 50 designated countries who can establish economic ties to Panama through investment or employment. Panama's territorial tax system, the use of the US dollar, and its strategic location make it a popular choice for retirees and location-independent professionals.
Full Panama Friendly Nations Visa profile →Gotchas to Watch For
Mauritius Permanent Residency (Property Purchase)
- ⚠USD 375,000 minimum is for the property — it's an investment threshold, not a fee, and you keep the property
- ⚠Approved-scheme requirement is strict — only specific real-estate developments qualify; ordinary Mauritian property purchases do NOT confer PR
- ⚠Citizenship after 5 years requires actual continuous residence — pure investor PR with no presence does not produce a passport
- ⚠Property transfer taxes (~5%) and notary fees (~1-2%) are above the headline USD 375k figure
Panama Friendly Nations Visa
- ⚠August 2021 reform tightened rules — prior version allowed "any professional activity" proof
- ⚠Panama does not allow dual citizenship in most cases — citizenship path means renouncing original
- ⚠Territorial tax only applies to Panama-source income — worldwide income outside Panama remains untaxed locally
- ⚠Bank account opening became harder post-2021 due to global AML scrutiny
Neutral reference — we don't recommend one programme over another. Programmes change: always verify each detail against the official source linked on the individual program pages.