A few answers about buying/owning real estate in Panama
How is property owned in Panama?
Land, as well as apartments, homes, and commercial properties, are all Freehold Titled. This is the same as in the US, Canada, Australia and England. This can be held in an individual’s name, or in the name of a Partnership or a corporation. Its a each process and an attorney will help you set up a corporation, partnership, or LLC if you decide that’s the best course of action.
There is a second form of land ownership in Panama called Right Of Possession (ROP). This is a much looser form of unregistered ownership, and should be avoided by non-Panamanians as right of ownership is often complicated and difficult to defend, and even more difficult to get titled.
How can I purchase real estate in Panama as a foreign investor?
Panama doesn’t have a Multiple Listing Service (MLS) like in the United States and Canada. And attorneys usually complete real estate transactions, as opposed to Real estate brokers. The bigger question is – How do I find a trustworthy, reliable attorney? Asking other Expats who they have used and can recommend is the best way to find the right attorney. We have used several different firms in Panama, and can also offer suggestions of firms/attorneys that are competent and honest, as well as a few that should be avoided!
What benefits are available for investors in Panama?
Panama actively encourages foreign investment in the country and offers many benefits to those who purchase real estate there. Panama offers multiple residency-by-investment (RBI) programs that allow foreign nationals to obtain residency in the country by making a qualifying investment. These RBI programs include the Qualified Investor Visa, the Friendly Nations Visa, the Self-Solvency Visa, and the Forestry Investor Visa. These programs are often referred to as Panama Golden Visas.
Residency-by-investment programs in Panama have a range of attractive benefits, including the opportunity to live and work in Panama, a relatively quick processing time, advantageous tax benefits, and the possibility of acquiring permanent residency. The best thing about these residency-by-investment programs, however, is that they are an indirect route to Panamanian citizenship.
Additionally, exemptions from import duties, sales tax, export tax, property tax and even income tax are available to those developing tourism-related projects.
What environmental protections are in place on the islands?
The Pearl Islands maintain pristine ecosystems through strict conservation efforts and sustainable development practices. Panama is a world leader in its commitment to preserving its pristine environment. The properties that we own on Isla Del Rey are all zoned Tourism Low Density and have an existing Environmental Impact Study completed, so any development would have an open path to development.
Here are some other good sources of information on Panama
Current News about Panama – Panama Perspective – https://panamaadvisoryinternationalgroup.com/blog/
A respected Panama Realtor – Panama Equity Real Estate – https://www.panamaequity.com/
Daily Ferry to the Pealr Islands – Sea Las Perlsa – https://ferrypearlislands.com/en/
Panama’s National Airline – One of the world’s best! Copa Airlines – https://www.copaair.com/en-us/
Solid Legal Services – BML Legal Group – https://www.bmllegalgroup.com/ and Fabrega Mulino – https://fmm.com.pa/
What Lonely Planet has to say about Panama – http://What Lonely Planet has to say about Panama – https://www.lonelyplanet.com/articles/things-to-know-before-traveling-to-panama
Wikipedia – https://en.wikipedia.org/wiki/Isla_del_Rey,_Panama
https://panamaadvisoryinternationalgroup.com/blog/panama-air-quality-world-ranking-standards/