FAQ - Frequently Asked Questions
Frequently asked questions
Absolutely. Foreign investors can purchase Titled or Right Of Possession (ROP) properties in Panama without the hassle of opening a bank account. This is due to Panama Law 54, which grants foreign investors the same rights and freedoms as Panamanian natives. Additionally, investors are given the right to dispose of their investment profits and repatriate their interest, dividends, and gains.
The property you have selected to purchase has the potential to serve as your ideal retirement home, an investment property, or a business. Suppose the property is titled and considered.....
The first step in purchasing a property is to submit an offer on the property of your choice. This offer, known as the 'Offer to Purchase a Property Agreement,' is a crucial document. It outlines all the terms and conditions governing the property purchase and eventually forms part of the 'Promise to Purchase/Sell Agreement.'
Our Real Estate agency, along with our attorney, will prepare this document and send it to the Seller for their signature....
Caribbean Properties for Sale is your trusted real estate agency in the Bocas del Toro Archipelago. With over 20 years of experience in Central America, our multilingual team (English, Spanish, and French) offers expert guidance to buyers and sellers, handling every detail of the transaction and assisting with relocation.
Remy began his real estate career in Costa Rica in the 1990s, where he founded .....
Carlos is an experienced attorney specializing in real estate, corporate law, and property transactions.....
Emilie began her real estate career in Costa Rica in 2007 and now serves clients in Bocas del Toro with dedication and.....
Hilda, originally from Costa Rica’s southern Pacific, has been an essential part of our team from the start. With strong.....
Titled Properties:
Most Bocas's property buyers prefer to ensure that a property holds a title registered in the National Registry of Panama to secure their purchase.
During the process of selling or purchasing a titled property, the deed transfer is signed before a notary, and the title is duly registered in the public registry under the buyer's name....
Panama has a unique law that allows individuals to live on government-owned land and make improvements such as planting trees, growing food, and building structures such as cabins, houses, storage sheds, and more. This law is known as the "Right of Possession" (ROP), which provides legal permission to live on government land.
Once you have legally acquired a property with a Right of Possession, you are entitled to live on the property as long as certain conditions....
Panama has a unique law called "Rights of Possession" (ROP) that allows people to possess government-owned land in order to make improvements upon it.
Recent legislation in Panama now allows owners of Rights of Possession (ROP) to convert it into titled property by obtaining a deed, which can then be recorded with the Public Registry....
In 2004, we started a private family-owned real estate business in Costa Rica and extended our activity to Panama. Integrity and knowledge are our driving engines in our professional field of action.
Over the past twenty years, we have represented buyers and sellers in hundreds of transactions. We work tirelessly to help our clients and community find the best fit for our buyers and represent our sellers with the most accurate and up-to-date knowledge of....
Properties with Rights of Possession (ROP) are not required to pay annual taxes, unlike titled properties. On the other hand, titled properties are subject to a yearly property tax based on the purchase price indicated on the "Deeds Transfer Contract" registered in the Panama national registry.
The payment of property taxes for titled properties will be generated after the "Deeds Transfer Contract" is registered. It may take a few months before the tax payment is due....
Legal fees for buying a property in Panama vary depending on the type of property and the attorney's firm you choose.
Legal fees for property purchases/sales are typically 3 to 10% of the property's sale price. They are usually divided equally (50%) between the buyer and seller unless otherwise specified in the "Promise to Purchase/Sale Agreement." The seller covers the real estate....
We highly recommend that a lawyer assist you with your real estate transaction in Panama. Once you have chosen your property, they will take care of all the necessary paperwork, including a title search at the National Property Registry or a search for legal documents at the regional registration office for properties under a Right of Property (ROP) registration.
They will also ensure that taxes are in order and guide you through all the steps involved in buying/closing. Most realtors have one or more lawyers they work closely with and can refer you to them, making the process much easier for you.
Choosing the right professional is crucial in any field, and real estate is no exception. A lawyer's expertise can make....
Not all properties in Panama have a registered property title in the National Registry. Panama allows people to possess government-owned land to make improvements upon it. It is called "Rights of Possession" (ROP). An ROP property can be "sold" (transferred) to third parties, including foreigners. These properties are not recorded at the Public Registry as titled property deeds are.
The "Right of Position" property certificate is registered at the regional justice department (Corregidor), where....
A maritime water concession is a legal permit that allows individuals or companies to use coastal and marine areas for specific purposes—such as building docks, marinas, or other waterfront structures—while ensuring that development is environmentally responsible and aligned with national interests....