Real estate investment in Panama can be as good, easy, and successful
as investing in land/property in any other part of the world.
In fact, it can be better.
REAL ESTATE IN PANAMÁ
Why Panamá
In general, investing in land anywhere in the world usually yields a great return because as we all know, our population is only increasing, the hidden corners of the globe are being uncovered, and the planet isn’t growing any larger.
So why Panama?
Panama, hidden in the shadow of its northern and very popular neighbor, Costa Rica, has flown under the radar for quite some time. That being said, in the last decade the country has been growing in popularity with everyone from investors, private companies, ex-patriots, and of course tourists. Its stunning variety of environments ranging from the modern capitol Panama City (think Miami mixed with New York), to coffee growing mountain towns, plus exotic coastlines and tropical islands offers something for everyone. Best of all, being a small country, one can travel within Panama easily and quickly meaning that the big city, majestic high altitude mountains, or those exotic tropical beaches are never too far away!
The Republic of Panama maintains a stable government, a strong economy,
and the official currency is the U.S. dollar. Most citizens around the world will receive a free tourist visa upon entering the country, and Panama offers many options for expats, investors, and business owners to acquire long term visas, residency, and even citizenship. As of the last decade, Panama has been making tremendous strides and growth in the sectors of business and foreign investment, medical care and technology, & general infrastructure. The government encourages and supports reforestation and environmental conservation, eco-tourism, as well as expats and retirees re-locating to Panama. Following in the footsteps of its neighboring country Costa Rica, Panama is at the verge of entering into its own rapid growth spurt in global popularity, tourism, investment, and of course:
LAND VALUE
Rest assured, the correct investment in property/land in Panama today,
will have you smiling for the future.
Types Of Property Ownership
First thing to mention:
YES,
You may own land in Panama as a foreigner, even if you are not a resident or citizen of Panama. However, there exists various types of ownership of property/land within the Republic of Panama.
There exists the opportunity to buy officially TITLED LAND in the Republic of Panama. A purchase of titled land means that there physically and digitally exists a “title/deed” of property ownership with its own ID # acknowledged by the Republic of Panama and that the government/state does not have any ownership rights upon your titled property.
A titled property or piece of land will remain yours until sold, exchanged, or passed on to family/heir. Titled land often provides investors with a more comfortable option as the legal rights of ownership are registered within the country-wide public registry, making it virtually impossible for another individual or corporation to challenge your ownership of titled property.
A few differences to note about Titled land include:
– Sales tax to government upon sale of property
– Annual property tax based upon property value
– Owner not required to maintain, use, or develop the land/property
– More restriction upon segregation of lots/parcels
– Titled land typically more valuable, meaning more profit when you sell, but a larger expense when you buy
If you wish to learn more about making an investment in titled real estate in Panama
RIGHT OF POSSESSION, also referred to as ROP, is a standard format of property ownership within Latin America and various other countries around the world. However, many foreign investors are not familiar with this procedure, and are often confused and even intimidated by it. It is important to realize however, how common it is to see certain types of property, such as beachfront or island property, available only as ROP. Many ROP properties however, can be TITLED after purchase by following the legal procedure and coughing up some additional $ to the Republic Of Panama which is usually based upon a very cheap per meter price. Be sure that with the right guidance, and knowledge, ROP property investment can be a great thing!
ROP property is technically still “owned” by the government or state, but can be “possessed” by any natural person, corporation, foundation, etc.
An ROP property is like any other property, able to be sold and purchased from one party to the other at market rate, or any price agreed upon between the seller and buyer. Upon purchasing an ROP property, that property is yours to develop or use as you please, to sell, or maintain under your possession until your final day on earth at which point it may be transferred to your children or heir. ROP properties often include a bit more research, due diligence, and care regarding the sale/purchase procedure, as there exists no official title, and all ownership documents are created and registered at a Municipal level. The legal process however is easy, and SAFE, if done correctly with all necessary paperwork, documents, and aspects of the procedure completed properly.
Tropic Lands Real Estate will assure that your investment in ROP property is done correctly, with all aspects of the procedure taken care of for you by a knowledgable realtor/consultant, licensed attorneys, surveyors, & translators.
A few benefits of ROP property include:
– No sales tax upon selling your ROP property
– No annual property taxes
– Easier segregation of lots/parcels
– Typically cheaper than Titled land
If you wish to learn more about making an investment in ROP real estate in Panama
