Advantages of Buying a Property in Panama

1. Advantages of Buying a Property in Panama Since 2005, the real estate in Panama is booming. The economic crisis found all around the world did not affect Panama and remained most active in Latin America. Panama has beautiful beaches both on the Pacific as well as Atlantic oceans. Panama has 1000 islands where several infrastructures are also coming up along to support them. Several beach resorts make Panama the most popular beach resort destination in all of Latin America. Tourism is also increasing by 10% since 2005. Panama’s laws also encourage tourism, which has resulted in several new hotels come into existence. So, several people are interested in buying property in Panama. Let’s see the advantages of purchasing a property in Panama. • Accessible to relocate- It has the most liberal immigration law in the whole of Latin America. It provides 15 immigration visas and permanent residency programs that make the foreigners relocate to Panama. In 2012, the President issued decrees for citizens of 50 friendly nations to become permanent residents very quickly by starting or purchasing Panama businesses. Apart from that, foreign workers from these countries who are hired by Panama companies can also avail of this permanent residency visa. More countries will also be added to this in the future. • Foreign Investments in Panama are rising- 2005, the real estate in Panama is booming i.e.; more foreign nationals are interested in buying property in Panama. There is also freight airport, high-tech companies, airplane and boat maintenance and repair companies, freight companies, and more than 130 internationally based corporations are setting up offices in Panama. By relocating, you can take advantage of this. • Panama has made your investment in Real Estate safe- You can purchase real estate in Panama as it is safe and secured for the foreigners as they share the same rights with the Panamanians. Just like the US and Canada, the title deeds in Panama are also recorded in the Public Registry. This is also verified by the US state department. • Foreign investments in Panama are protected by law- It has created Law 54 (made in 1998) wherein the rights of the foreigners in buying property or to participate in the trade, industry, exporting, and importing are possible. They can use their profit earned as they feel it fit. Apart from that, there are ten years of stability for foreigners to continue with the laws of taxation, customs, labor, and municipality rules. From the above factors, it is safe for buying property in Panama. They have the necessary laws which protect foreigners from indulging in the trade or any business activity.