Reasons to invest in Real Estate in Panama

Whether you are looking to relocate, Invest or simply retire, Panama has an array of investment incentives for everyone to possess a piece of paradise, and then some.

Therefor Panama Golden Mountain Realty as the realtor on the Western slopes of Volcan Baru located in the beautiful pristine Highlands of Chiriqui invites you to consider the folowing:

In the first place the Law 54

On protecting foreign investment in the Republic of Panama.

Why Investing in Panama?

1. Security: 
   • Panama is free of natural disasters (hurricanes, tornados, earthquakes), it has no guerrilla and a very low crime index. There is freedom of speech and freedom of expression.
2. Currency: 
   • The US Dollar is the official Panamanian currency since 1904. Annual Inflation has been below 2% in Panamá for the past 40 years.
3. Weather: 
   • Perfect all year round. Tropical in the coastal areas (29ºC / 84ºF). Tempered climate in the mountains (20ºC / 64ºF) and it is usually sunny.
4. Medical Services: 
   • Excellent private hospitals and first class doctors in every field of medicine. All international health insurance policies are accepted in Panama.
5. Infrastructure: 
   • One international and several domestic airports. Major roads and highways connect the whole country. Ports and maritime ways service connect both oceans with the rest of the country. And, the famous Panama Canal.
6. International flights
   • connect Panama to the most important cities of the world, making it an international bridge with the Americas.
7. Technology: 
   • Top of the line telecommunications access point with up to 3,300 gigabytes per second capacity (Internet, Cable TV, cell Phones, etc.)  
8. Everything is very close: 
   • From the capital city to the beaches of the Pacific Ocean its only a 90 minute drive. From Panama City to Boquete is a 6 hour drive. From Panama City to Bocas de Toro (in the Caribbean Ocean) is a 7 hour drive. With a flight of 1 hour you can reach anywhere in the country.
9. Restaurant and Shops: 
   • Panama is an enormous commercial center with more than 20 shopping malls and upwards of 500 international brand names.
     There is an ample variety of international food at very inexpensive prices. 
    
10. Protection for the foreign investor:
    • Foreign nationals can buy and sell real estate in Panama with the same legal rights and protections that nationals have.

Panama was named by the AARP as one of the top 5 retirement destinations in the world.

Here are a few reasons why:

Panama for Retirees

1. No property taxes for retirees if the property is the only property owned by the retiree.
2. No sales tax on home furniture if the property is the only property owned by the retiree.
3. Special discounted mortgage rates, your realtor can inform you on the details. for retirees.
4. No import tax on private use vehicles every 2 years for retirees.
5. No import tax on personal belongings up to $10,000.00.
6. Discount on
   • Medical Services for retirees.
   • sales commission and closing costs for personal and commercial loans.
   • utilities (light bill, water bill, residential telephone, cable TV).
   • Restaurants.
   • Air Travel
   • Professional Services such as: Nurses, Physical Therapists, Lawyers, Architects, etc.

Buying Real Estate in the Republic of Panama.

The Republic of Panama is a very politically stable and peaceful country with a rapidly maturing democracy. It is, therefore, safe and secure to invest in Panama, but be aware of the rather archaic bureaucracy in place here. Sometimes this fact makes it rather complicated to get all the legal documents in order. But once you have them in order, be it a Title Deed of a property or a Residence Permit, life in Panama is really very easy, safe and free.

With this in mind, Panama Golden Mountain Realty advises all possible investors to abide by the following 5 golden rules for buying real estate safely and risk free in Panama:

1. Always work through a realtor.
2. Insist on seeing the official licence of your realtor. (The paperwork done by “realtors“ who are not licensed has no legal value whatsoever.)
3. Have a local Lawyer check all the paper work. (This is not expensive. Better to spend a couple of hundred dollars now, than to be sorry later.)
4. Insist on seeing a copy of the Official Title of the property, registered in the Public Registry (el Registro Público).
5. Insist on seeing the Survey of the property.

As long as an investor abides by these 5 golden rules, he will make a very safe and secure investment in this beautiful, peaceful and secure country.

There is a second kind of property in Panama, which is officially owned by the Government, but for which the people who live on that property have “el derecho pocesorio“. This means that they have the right of possession, and they can request an Official Title for the property. In many cases they have not done this due to lack of funds. They can sell the “derecho pocesorio“, and then the new owner can start the paperwork for the title. This process can take up to 2 years, and is rather complicated and time consuming. Cases like this should be analysed by your realtor and local lawyer, before making a decision to buy.

Panama History

General William Crawford Gorgas

"Chief Medical Officer for Construction of the Panama Canal" by R. Boyd

With Yellow Fever, the chief killer of canal construction workers, it was inevitable that William Crawford Gorgas would become the Chief Medical Officer for the construction of the Panama Canal.
At the start of his military career, he had been stricken with yellow fever, survived and therefore was immune to the disease. It is interesting to note that during the Spanish-American War in 1898, he was put in command of a yellow fever unit in Cuba and that the Army's solution to the problem was to burn the hospital and surrounding areas down to combat the disease.
For more read: BAJAREQUE

Current Development Areas

Panama City

• Many Investors have discovered this investment opportunity and have purchased properties located in the cosmopolitan city of Panama, which is located in front of the Panama Bay overlooking the Pacific Ocean.
  Over the last five years construction in Panama city has increased substantially and areas that were previously overlooked are being developed.
• Some of the new Areas under development in Panama city are: Costa del Este, in which high end condominiums are being built; Amador, which used to be part of the old Panama canal Zone, and Punta Pacifica, in which high rise buildings are changing the landscape of the bay area.
• It is also worth mentioning the development that is occurring in the old town of Panama known as “El Casco Antiguo“. There is a revitalization of this Spanish architectural area with remodeling and preservation of century old homes and buildings from the colonial era.