Panama City is the capital of the Republic of Panama and its largest and most modern city. Panama City is located on the Pacific coast at the entrance to the Panama Canal. Panama City is the political and administrative center of the country, as well as a center for international banking and commerce, with the most modern and successful International Banking Center in America...
Political and Economic Stability Panama has maintained a stable democratic government since 1989, without significant political unrest. Additionally, Panama has experienced consistent annual GDP growth since 2005, along with low inflation rates. The official currency is the North American Dollar. Panama is widely considered a “safe haven” due to its...
Real Estate Sales Transfer Tax The seller must pay the sales transfer tax before completing the sales transaction. A 2% real estate sales transfer tax is imposed on the transfer of real estate based on (1) the sales price indicated in the official purchase/sale document (sale contract), or (2) on the value...
Q: What are the General Terms and Requirements for obtaining a Mortgage Loan? A: The following are the average terms and conditions of mortgage banks in Panama. This means that specific rates and conditions may vary from bank to bank. Financing: Between 60% and 70% of the purchase price or appraised market value, whichever is lower. Rate...
Q: How do I find property in Panama? A: Make sure you contact a “licensed” real estate agent like Business Panama Real Estate. Q: Is it safe for foreigners to buy property in Panama? A: Absolutely. Buying property in Panama is very safe. There are more than a dozen laws in Panama established specifically to protect investments...
When someone plans to retire in a tropical paradise like Panama, owning a home, investing in land for reforestation, purchasing beachfront property are just some of the reasons why it is important to know the regulations regarding real estate in the Republic of Panama. No matter for what purpose the land is purchased, it is important to learn everything...