Real Estate Procedures in Panama

In the website of ACOBIR we find some information about Foreign investments. In all real estate areas the foreign investments are welcome and present in Panama. The procedures to adjust to the legal requirements in this area are simple and easy to implement. In the particular case of retirees ( pensioners ) who rent, Panamanian legislation provides for tax exemptions when taking cars as well as household items into the country and discounts on the cost of bureaucratic processing regarding moving and getting settled in Panamanian territory. Furthermore, it grants many other prerogatives and privileges to said retired persons (pensioners), as well as ample financial opportunities in Panama’s modern banking center.

Land Registration System
All transactions pertaining to the sale and purchase of real estate should be registered with the Public Registry General Office (“Dirección General de Registro Público”) of the Republic of Panama. A Notary Public executes this registration, and that officer is responsible for verifying all the necessary steps and data. This serves as a guaranty to all investors.

Requirements to be a Realtor
It is necessary to have a professional capability license, issued by the Real Estate Technical Board (“Junta Técnica de Bienes Raíces”) of the Republic of Panama. Panamanian citizens and foreign nationals who have resided in Panama for over 5 years are eligible to request this license, as long as they pass the professional examinations required by the technical board in a satisfactory manner and further do not have any problems complying with the other mandatory requirements.