How safe and protected are my assets in Panama?
Judith Tovar - Easy Travel Panama
I would say that your assets in Panama are well protected. What I recommend is that you contact a good Panamanian lawyer who can advise you on how to do all this the correct way. There are many ways to protect your assets in Panama..and they are the experts in this area.
I would say that your assets in Panama are well protected. What I recommend is that you contact a good Panamanian lawyer who can advise you on how to do all this the correct way. There are many ways to protect your assets in Panama..and they are the experts in this area.
Posted April 26, 2013
Moises Montero Randino - Montero Randino - Attorneys at Law
Panama offers a highly effective corporate structure which is perfect to secure assets as well as for estate planning purposes. You must hire an attorney who will guide you through what is best for your specific case.
Panama offers a highly effective corporate structure which is perfect to secure assets as well as for estate planning purposes. You must hire an attorney who will guide you through what is best for your specific case.
Posted March 21, 2014
Bill Hamilton - Bill Hamilton
I find my assets to be very safe and protected in Panama. I can’t see any problems. In fact, the banks here are pretty stable. I’m with the BAC bank and I find them very, very good. They are an international bank and they actually give you interest on your current funds, as well as the bank account in the savings account. They give you ATM cards.
If you get a 10 year CD here, depending on the amount, they’re offering you up to...
I find my assets to be very safe and protected in Panama. I can’t see any problems. In fact, the banks here are pretty stable. I’m with the BAC bank and I find them very, very good. They are an international bank and they actually give you interest on your current funds, as well as the bank account in the savings account. They give you ATM cards.
If you get a 10 year CD here, depending on the amount, they’re offering you up to around about 4.2%. interest, tax free. They don’t charge you tax here on any income from abroad. They also don’t tax you on the interest you receive from the bank, either.
The constitution is very good here. It’s not like Argentina that would one day just decide to take my property away.
I am confident that anything I buy and any money I invest in Panama has legal protections. I‘m sure because I went over all these with the lawyer as well.
Posted February 5, 2015
Kevin Painter - Azura
Everything that I own is here in Panama now. Honestly, I trust the situation and safety more here now than I did when I was in the States. I'm really scared that one day, assets are going to be seized or lose value in the US. I do not see that happening here in Panama. I don't see the value of what I'm doing going down, whereas, when I was in Florida, I didn't see the financial crash in 2008 coming and it did happen. It was like somebody...
Everything that I own is here in Panama now. Honestly, I trust the situation and safety more here now than I did when I was in the States. I'm really scared that one day, assets are going to be seized or lose value in the US. I do not see that happening here in Panama. I don't see the value of what I'm doing going down, whereas, when I was in Florida, I didn't see the financial crash in 2008 coming and it did happen. It was like somebody ripped the carpet away.
Compared to the US, Panama is not as rich a country, it's not as clean a country, but it's just more stable here. It just seems to be stable day to day. There’s no excitement that your houses are going up $100,000 a year or lose $100,000. It's like the ocean's calm and I feel safer.
(Pictured: a very calm Bocas del Toro, Panama, over the water hut.)
Posted August 30, 2015
David Btesh - Pacific Realty / Pacific Developers
Panama has various legal procedures to safeguard your capital.As one example, you can create a fideicomiso, which is a trust that the government helps you set up that’s legal, non-attackable, and without liability. You can contribute funds to your fideicomiso and do whatever you would like with your capital. If you are conducting legal activities, nobody bothers you or looks into what you are doing.
Panama is a very safe country. The financial...
Panama has various legal procedures to safeguard your capital.As one example, you can create a fideicomiso, which is a trust that the government helps you set up that’s legal, non-attackable, and without liability. You can contribute funds to your fideicomiso and do whatever you would like with your capital. If you are conducting legal activities, nobody bothers you or looks into what you are doing.
Panama is a very safe country. The financial system in Panama is dollar-based with no major flaws. In addition, the banks here are safe and the registry for property is good. You can go onto the registry online and find out who owns a property.
Panama is a democratic country with an elected government. In the past, there were problems, but today we are a democratic people. The population of Panama watches closely over how the government of Panama is acting. The people are always watching and questioning so it would be difficult to do anything dishonest or corrupt. Panama is more open today and more reliable, and will continue to be a democracy.
(The Towers @ 50th Street, San Francisco, Panama City, Panama
Posted October 23, 2015
John Gilbert - PanamaKeys
For the most part, your land investment in Panama if you purchased titled land is completely safe and secure. In general, I feel completely safe living and investing here in Panama. If your asset is real estate in Panama, and you have titled land, you’re completely protected. The land title experience here in Panama is very similar to what you would experience in the United States. If you buy a piece of titled land and it becomes yours, then that...
For the most part, your land investment in Panama if you purchased titled land is completely safe and secure. In general, I feel completely safe living and investing here in Panama. If your asset is real estate in Panama, and you have titled land, you’re completely protected. The land title experience here in Panama is very similar to what you would experience in the United States. If you buy a piece of titled land and it becomes yours, then that property is yours without equivocation.
There are situations that if you’re a vacant owner, that people can come in and “squat” your property over a period of successive years. If you’re gone for 10 years and you show up, and there’s been a family who has squatted your land and built some little makeshift hut on it for the last three years, and they said that they manage your land, then that can become a situation, but there are ways around that as well.
There are strategies that you can take that alleviate a lot of those concerns. One of the strategies include not putting your house or your business in the same name that you keep your money – something a lot of people here in Panama do.
For example, if John Gilbert has a personal checking account, he is not going to own his business in the name of John Gilbert. Instead, he will open a corporation, and then put his business under the name of the corporation. If you do this, then corporate life is not intermixed with his personal life, and the government can’t come in and take all your personal checking and savings money if someone sues the corporation.
In criminal situations here in Panama, you’re guilty until proven innocent. I’ve never been in a personal situation where I had to face any kind of legal issues here in Panama. I’m not concerned about it.
I haven’t met people who have been personally injured by the legal process here in Panama. On the contrary, I have met people who have been protected by the legal process here in Panama.
The laws are not built on the US constitution, however, so the laws are certainly different here, and there are nuisances of the law that are different here than in the United States and anywhere else for that matter.
(Home in the hills of Volcancito, Panama,pictured.)
Posted June 14, 2017