As a foreigner, can I buy real estate in Panama?
Allen Rosen - Chiriqui Coastal Real Estate
Many countries restrict the right of foreigners to own property. In Thailand, for example, it was illegal for foreigners to own land for many years, which did not stop enterprising Thais and expats from finding ways around the law. In Mexico, it is still illegal for foreigners to own land, but not condos, within 50 kilometers of either coast.
In Pamama, foreigners can own land anywhere in the country, except within 10 kilometers of the border with Columbia or Costa Rica.
Some people...
In Pamama, foreigners can own land anywhere in the country, except within 10 kilometers of the border with Columbia or Costa Rica.
Some people...
Many countries restrict the right of foreigners to own property. In Thailand, for example, it was illegal for foreigners to own land for many years, which did not stop enterprising Thais and expats from finding ways around the law. In Mexico, it is still illegal for foreigners to own land, but not condos, within 50 kilometers of either coast.
In Pamama, foreigners can own land anywhere in the country, except within 10 kilometers of the border with Columbia or Costa Rica.
Some people eager to sell land near the Costa Rica border will tell you that the law is not enforced and that you can get around it by purchasing through a corporation.
It is true that the law is not enforced -- today. But who knows about tomorrow?
It is false that you can get around the law by purchasing through a corporation. It is just as illegal for foreigners to own shares in a corporation that owns land within the 10 kilometer zone, as it is for them to buy the land in their own names.
In Pamama, foreigners can own land anywhere in the country, except within 10 kilometers of the border with Columbia or Costa Rica.
Some people eager to sell land near the Costa Rica border will tell you that the law is not enforced and that you can get around it by purchasing through a corporation.
It is true that the law is not enforced -- today. But who knows about tomorrow?
It is false that you can get around the law by purchasing through a corporation. It is just as illegal for foreigners to own shares in a corporation that owns land within the 10 kilometer zone, as it is for them to buy the land in their own names.
Posted February 7, 2013
Katherine Reyes - Costa Blanca Villas by Royal Decameron Golf & Beach Panama
Sure you can buy Real Estate in Panama. The best thing about investing in Panama is that you get title to your property.
Sure you can buy Real Estate in Panama. The best thing about investing in Panama is that you get title to your property.
Posted February 26, 2013
Yolany Alvarado - ProPanama
Panama is a great country to invest! Not only because you do get a property title, but also because your property is private and kept safe by law. Private property is taken quite seriously here in Panama. By Constitution, property is respected no matter who owns it, either a Panamanian or a foreigner. It does not matter.
Foreigners and Panamanians have the same property rights :)
Panama is a great country to invest! Not only because you do get a property title, but also because your property is private and kept safe by law. Private property is taken quite seriously here in Panama. By Constitution, property is respected no matter who owns it, either a Panamanian or a foreigner. It does not matter.
Foreigners and Panamanians have the same property rights :)
Posted March 29, 2013
JuliAnne Murphy - Panama Pacifico
Foreigners from any country have the right to purchase real estate and hold title to it - in their name, or in a Panamanian corporation, trust or foundation. This is one of the strengths of Panama, in my opinion, for foreigners looking to retire here.
When someone purchases (or enters a contract to purchase) real estate here, it is your responsibility to have the seller confirm that they hold title to the property, and that it can legally be transferred to you...
Foreigners from any country have the right to purchase real estate and hold title to it - in their name, or in a Panamanian corporation, trust or foundation. This is one of the strengths of Panama, in my opinion, for foreigners looking to retire here.
When someone purchases (or enters a contract to purchase) real estate here, it is your responsibility to have the seller confirm that they hold title to the property, and that it can legally be transferred to you as the buyer.
If the seller can't prove to you that they hold title, I recommend you buy title insurance even when you do purchase a property, just to ensure you're covered. Title insurance is a brand new industry in Panama and there are one or two international companies that sell it.
Posted April 4, 2013
Lucia Haines - Panama Realtor Inc.
Foreigners have the same rights as Panamanian nationals when it comes to purchasing and owning titled real estate in Panama. It's fee simple.
The only exception to the rule is Article 291 of the Constitution of Panama which states that foreigners, (including foreign Corporations) cannot own real estate within 10 kilometers (about 6 miles) of the borders between Colombia and Costa Rica. Even if said land was to be held in the name of a...
Foreigners have the same rights as Panamanian nationals when it comes to purchasing and owning titled real estate in Panama. It's fee simple.
The only exception to the rule is Article 291 of the Constitution of Panama which states that foreigners, (including foreign Corporations) cannot own real estate within 10 kilometers (about 6 miles) of the borders between Colombia and Costa Rica. Even if said land was to be held in the name of a Panamanian Corporation its capital must be Panamanian as well.
Posted June 18, 2013
Albert Obbens - Albert Obbens
Anybody from any country can buy real estate in Panama; personal, in a foundation or in a corporation. In the last case you own the printed shares and when you sell, you just hand over the shares. That is it. You can invest as much as you like as long as you can prove where your money comes from. And moreover, when you sell, you are entitled to take the full capital out of the country. No grizzle, no problems.
Anybody from any country can buy real estate in Panama; personal, in a foundation or in a corporation. In the last case you own the printed shares and when you sell, you just hand over the shares. That is it. You can invest as much as you like as long as you can prove where your money comes from. And moreover, when you sell, you are entitled to take the full capital out of the country. No grizzle, no problems.
Posted September 23, 2013
Mark Hurt
Yes, as a foreigner you can buy and own real estate in Panama. The laws here in Panama protect your rights as a foreigner to own land just like they do for native Panamanians.
Yes, as a foreigner you can buy and own real estate in Panama. The laws here in Panama protect your rights as a foreigner to own land just like they do for native Panamanians.
Posted July 25, 2014
Rafael Alvarado - Rafael Alvarado / Attorney / Real Estate Broker
You can buy real estate in Panama even as a foreigner. There is no difference at all on the terms under which a foreigner can buy real estate compared to the terms under which a Panamanian can buy real estate.
You can buy real estate in Panama even as a foreigner. There is no difference at all on the terms under which a foreigner can buy real estate compared to the terms under which a Panamanian can buy real estate.
Posted October 16, 2014
Robert Adams - Retirement Wave
As a foreigner you can buy real estate in Panama. A tourist can buy it. Anybody can buy it. There are no restrictions, no laws, and no difference whatsoever.
If you were a resident with a visa here, you would be treated in the court of law in the same way as a citizen. But if you’re just a tourist and if you brought stuff here and a case is brought against you, you’re still treated fairly but you’re not treated on the same level.
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As a foreigner you can buy real estate in Panama. A tourist can buy it. Anybody can buy it. There are no restrictions, no laws, and no difference whatsoever.
If you were a resident with a visa here, you would be treated in the court of law in the same way as a citizen. But if you’re just a tourist and if you brought stuff here and a case is brought against you, you’re still treated fairly but you’re not treated on the same level.
I wouldn’t buy property that was untended, leave it for a year and then come back and find out that a mess has occurred. If it were a condominium in a project, leaving your property unattended is not a problem, but if it’s just buying a piece of land somewhere out in the middle of nowhere or a standalone home that has been deserted for a year or two, then that is poor form; that is something else.
If, for example, some poor family from Costa Rica or somewhere that does not have a place to stay sets up a tent on your land, you can get them thrown off when you come back a year or two later but you have to go to court to do it and the judge is going to look at you and say, “The only reason you bought that land is to make money. You don’t care about the country. You don’t want to live here. You ignored it, you neglected it and here’s a poor family that has no place to stay.” So yes, you’re going to get your land back but it’s going to take you four, five months in court and all your legal expenses. This is not common; once in a blue moon. However, I would recommend using common sense. If you’re going to buy a place here in Panama and walk away from it, make sure that somebody’s taking care of it, keeping an eye on it while you’re gone and who can represent you in case any question ever arises.
But you don’t have to be a resident to own land in Panama or property and you don’t have to be a resident to run a business here. You can run a business, you can set up a corporation, and you can do whatever you want to. Most people who do these things are residents but we do have people who have been here several years on tourist visas or while they are waiting for their regular visas (that could take some time), they can still operate their business.
Posted November 25, 2014
Gonzalo de la Guardia - Panasurance
Yes, foreigners can buy real estate in Panama. Buying real estate is exactly the same for locals as it is for expats. Foreigners have exactly the same benefits, laws, and protections as local Panamanians get when buying properties in Panama. There is no difference at all. You do not even have to be a citizen and you do not even have to be in the country to buy real estate.
There are many ways an expat can buy property in Panama. You can buy property...
Yes, foreigners can buy real estate in Panama. Buying real estate is exactly the same for locals as it is for expats. Foreigners have exactly the same benefits, laws, and protections as local Panamanians get when buying properties in Panama. There is no difference at all. You do not even have to be a citizen and you do not even have to be in the country to buy real estate.
There are many ways an expat can buy property in Panama. You can buy property in Panama your name, through a corporation, or a foundation.
Posted November 26, 2014
Bill Hamilton - Bill Hamilton
As a foreigner, you can buy land or other Panama real estate property. The only difference between being a foreigner and not a foreigner in buying Panama land is the price. The sellers will say, “Oh, here’s a gringo. We’ll double the price.” If you speak fluent Spanish, it’s different. You can just make it into a joke, and say something like “Is this a joke, or what? I’m not a gringo.”
As a foreigner, you can buy land or other Panama real estate property. The only difference between being a foreigner and not a foreigner in buying Panama land is the price. The sellers will say, “Oh, here’s a gringo. We’ll double the price.” If you speak fluent Spanish, it’s different. You can just make it into a joke, and say something like “Is this a joke, or what? I’m not a gringo.”
Besides speaking Spanish, you have to be savvy to the prices, the culture and the way of doing business. I got to know each area; basically, what the cost per square meter should be and what they were trying to charge. I got all this by making friends with local people. So if I talk to someone about it, I say, “Come on, I can buy the place next door for 3 dollars a meter square, not 5.” And they start backing down. You say, “I’ve got the right price. Take it or leave it.” They usually take it. There’s significant negotiation and they love bargaining here in Panama. Everything’s negotiated.
If you are paying cash to buy land or other real estate property, you do not have to be a legal resident. Non-legal residents have the same legal rights as would any Panamanian to that property.
Posted February 4, 2015
Michael A. Martinez - B & B Real Estate Nicaragua / Panama Real Estate Information
Absolutely, as a foreigner you can buy real estate in Panama. The same laws apply to foreigners and residents as well. There is no difference between foreigners and residents when buying real estate. There are certain things that you should be aware of as a foreigner when you buy real estate in Panama. Although there are no legal reasons why you can’t by real estate just like any Panamanian or anyone else, and there’s absolutely no...
Absolutely, as a foreigner you can buy real estate in Panama. The same laws apply to foreigners and residents as well. There is no difference between foreigners and residents when buying real estate. There are certain things that you should be aware of as a foreigner when you buy real estate in Panama. Although there are no legal reasons why you can’t by real estate just like any Panamanian or anyone else, and there’s absolutely no difference in the law or any other way, any time you buy real estate, you want to make sure that you’re buying titled property because we do have Rights of Possession.
(New construction home in Chame, Panama, near Coronado, pictured.)
Posted May 5, 2015
Melissa Darnay - Choose Panama
A foreigner can absolutely buy real estate in Panama. The real estate here in Panama is titled just like you’re used to in the United States. There are a few exceptions to that. A foreign investor could not purchase property within a short distance to the international borders, but those are not the places where expats typically want to buy anyway. A lot of people think, “Oh the Caribbean Ocean is so beautiful,” and their first thought is to buy in the...
A foreigner can absolutely buy real estate in Panama. The real estate here in Panama is titled just like you’re used to in the United States. There are a few exceptions to that. A foreign investor could not purchase property within a short distance to the international borders, but those are not the places where expats typically want to buy anyway. A lot of people think, “Oh the Caribbean Ocean is so beautiful,” and their first thought is to buy in the Caribbean side. The Caribbean side does not have the infrastructure, roads, restaurants, Internet, or the grocery stores that you need to live well. Because of that, people are going onto the Pacific Ocean side. The reason I mentioned the Caribbean side is because some of those properties there are not titled.
In the Coronado area, which is one of the main expat areas of Panama and on the Pacific side, the properties are titled. You would own it just like you would in North America. In Boquete, which is another very popular expat destination, real estate is titled. The only places in general that aren’t titled are in the Caribbean side.
(Penthouse view of the Pacific Ocean from Casa Bonita, pictured.)
Posted August 6, 2015
David Whittington - Tucan Golf Club and Resort
Yes. As a foreigner you can buy real estate in Panama. Unlike in other countries, there are no restrictions here; you can buy anywhere. Buying real estate in Panama is like buying real estate in North America. You buy and get a title and you own it. That’s it. There are no restrictions as far as area.
(Modern homes near Panama City, Panama, pictured
Yes. As a foreigner you can buy real estate in Panama. Unlike in other countries, there are no restrictions here; you can buy anywhere. Buying real estate in Panama is like buying real estate in North America. You buy and get a title and you own it. That’s it. There are no restrictions as far as area.
(Modern homes near Panama City, Panama, pictured
Posted July 21, 2016
David Btesh - Pacific Realty / Pacific Developers
As a foreigner in Panama, you have the right to do anything you want. You can start a company, you can own a company, you can buy any real estate, land, buildings, rentable income - it’s all as normal as if you were a Panamanian. What you can’t do is probably run for some office. There’s nothing that you can’t do except things that are prohibited by not being born here, which is the same in any country. In Panama, you’re protected by...
As a foreigner in Panama, you have the right to do anything you want. You can start a company, you can own a company, you can buy any real estate, land, buildings, rentable income - it’s all as normal as if you were a Panamanian. What you can’t do is probably run for some office. There’s nothing that you can’t do except things that are prohibited by not being born here, which is the same in any country. In Panama, you’re protected by law and by the corporation that you form. You present your taxes, if there are any, and if you have income, or if you pay your taxes, and the rest of the money is yours. It’s like you would buy a property in Miami or anything like that.
(The future Fortune Plaza in the financial district, Panama City, Panama, pictured.)
Posted November 10, 2016
Rainelda Mata-Kelly - Law Offices Rainelda Mata-Kelly
Yes, whether you are a resident of Panama or just a tourist, as a foreigner you are able to buy titled real estate in Panama.
The only restriction is the land within 10 kilometers of our border with Costa Rica or Colombia.
This restriction is not just from some regulation or law, but from our Constitution and there is no way around it, as it clearly states that the prohibition stands even if you use a Panamanian...
Yes, whether you are a resident of Panama or just a tourist, as a foreigner you are able to buy titled real estate in Panama.
The only restriction is the land within 10 kilometers of our border with Costa Rica or Colombia.
This restriction is not just from some regulation or law, but from our Constitution and there is no way around it, as it clearly states that the prohibition stands even if you use a Panamanian corporation or other entity.
Posted March 21, 2018