Panama's West Coast Gold!

Read the full article on PanamaCoastProperty.com

"The Azuero Peninsula has long been considered the cultural epicenter of all things purely Panamanian. The Eastern side of the peninsula has been heavily developed over the years and is losing character as big chains move in. But, the West side is a true oasis. The hills and valleys along the west coast provide a finite number of homesites that are either ocean front or ocean view. It is hard to imagine the West side losing its natural appeal and becoming another dense suburb, the topography just doesn't permit it. The towns from Mariato to Arenas will remain quaint, friendly, and safe.

"The Azuero West Coast is the only spot to view sunsets dipping into the ocean every night!

"Still the best prices anywhere on the water!"

PanamaCoastProperty.com - 11/5/2015


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Panama FAQs

Read the full article at Panama-Offshore-Services.com

Q: Is it safe for foreigners to buy property in Panama?
A: Absolutely. Buying property in Panama is very safe. There are over a dozen laws in Panama established specifically for protecting foreign investments, not to mention that private property in Panama is protected by the constitution of the Republic of Panama. Thousands of foreigners own property in Panama, and we process Panama real estate transactions for foreigners every day without a problem.

Q: Is it legal for foreigners to buy property in Panama?
A: Yes, it is legal for foreigners to own titled property in Panama in their personal names, although we normally recommend that clients hold all property in the name of a Panamanian corporation for asset protection and income tax reasons. Panama “possession rights” (as opposed to titled) property, however, should always be held in the name of a Panamanian corporation, where the foreign person is the shareholder (or a Panama Foundation or trust can be appointed as the shareholder in place of the foreign person) of the Panama corporation.

Q: What are the procedures to buy real estate in Panama?
A: The first step is to find a Panama property you like, and negotiate the price and terms of the sale with the seller (or Panama real estate broker).

Second, you should seek a qualified attorney in Panama to handle the due diligence and title search on the property, putting your Panamanian attorney in contact with the seller (or real estate broker) to gather copies of the property title documents and survey (if available).

Third, have your attorney prepare a written Promise to Buy/Sell Contract to lock in the property sale and secure the terms agreed upon (a deposit of 10% is usually required by the seller upon signing the promise to buy/sell contract), plus this gives you time to do the due diligence and get your funds into the escrow account (see www.panamatitle.com ).

Fourth, once the attorney has confirmed the property title is clean, then the final closing is scheduled, where the buyer/seller sign the final Buy/Sell Contract.

Fifth, payment is made to the seller, broker, and attorney from escrow (in some cases, buyers/sellers agree that payment is made after the public deed of the property is transferred and registered into the buyers name).

Sixth, the Buy/Sell Contract is registered at the Public Registry where they transfer the property title ownership from the previous owner to the new owner.

Panama-Offshore-Services.com


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What You Need to Know Before You Buy

"Considering a second home? Good for you. You’re about to join one of the fastest growing real estate trends in the United States and around the world.

"Whether it’s a second home for vacations, retirement or investment, some of the greatest values are in Central America properties. Mexico, Costa Rica and Panama, in particular, have become havens for international buyers.
What’s their appeal? Consider these factors:

  • Low cost of living
  • Uncrowded beaches
  • Ocean views
  • Affordability
  • Rapid appreciation of real estate
  • Tax benefits
  • Easy accessibility
  • Fantastic weather

"Sounds great? Right. But here’s the challenge – finding the right property. How do you learn about real estate opportunities in another country? How can you buy in pre-construction phases, when prices are lowest and selection is greatest?"

CentralAmericaSecondHomes.com


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The World's Best Places to Retire in 2016

 

“With the Pensionado Visa, Panama offers the best retiree benefits on our beat. All you need to do is prove you’re receiving a pension of at least $1,000 a month and be over 18 years of age.

“You’ll be eligible for 50% off entertainment (such as cinema tickets, concerts, plays, and the like), 25% off electricity, 25% off restaurants, and 25% off airline tickets bought in Panama. You can also get 15% off hospital bills, 20% off medical consultations, and 10% off prescription medicines, among many other goodies.

“Terry Coles and her husband Clyde take advantage.

“My husband had a cold and went to see an English-speaking doctor for $6. He picked up three prescriptions for $25 after the office visit,” she says. “Our first electric bill was $16.80 for the month. Meals out at nearby restaurants are $3 to $5 and a hotel room with our Pensionado discount of 50% off is about $30, which includes a nice breakfast.”

“Whether it’s a short-term stay or permanent relocation, this category looks at the availability and ease of visas and residence. Once again, Panama tops the table.

“The process of acquiring Panamanian residence is both cheap and easy, making it simple for you to become a resident in the country.

“The Pensionado Residence Program is the most popular option for potential expats for many good reasons,” says IL Panama Editor Jessica Ramesch. “It is highly effective in drawing people to Panama because, in addition to providing a permanent residence solution, it also entitles retirees or Pensionados to a host of money-saving discounts.”

“As well as the Pensionado visa, Panama also offers a Friendly Nations visa (open to U.S. citizens) which lets you work or start a business in the country. Although you need a business or investments in Panama to qualify for this, plus at least $5,000 in a Panamanian bank account, you don’t need to live in the country full time. And after a few years you can even apply for citizenship and a second passport." “I crave variety, and here I have it all,” says IL Panama Editor Jessica Ramesch of her home, Panama City. “Past weekends have found me enjoying live jazz at the Danilo Pérez club in historic Casco Viejo, English-language plays at the Ancón Theater Guild, gourmet cuisine at renowned restaurant Maito, and even hand-rolled cigars at The Country Store, in the former Canal Zone.”

InternationalLiving.com - January 1, 2016


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Best Places in the World to Retire

 

Read the full article on Forbes.com

"Panama, a long-time expat favorite, eclipsed last year’s winner, Ecuador. The difference in being No. 1 or No. 2 is small, but International Living’s Executive Editor, Jan Stevens, said that “prices have been on the rise in Ecuador.”

Also, she added, “we have to give extra weight to the incredibly attractive visa and residence situation Panama offers. The nation wants foreign retirees and they’re actively offering incentives for folks to come.” It’s a three-hour flight from Miami.

Chuck Bolotin, vice president of business development at BestPlacesInTheWorldToRetire.Com, tells me that Panama’s economy has been growing in the 8% range and the country has a stable, mature democracy, which only adds to expats’ happiness and optimism. And his site’s free report, Is It Cheaper to Live Abroad?, found that about 20% of expat retirees in Panama said their cost of living is less than half what they had before relocating there."

Forbes.com - Jan 4, 2016


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A Guide to Buying Property in Panama

"Here's everything you need to know about buying property in Panama. This beautiful country offers great opportunities for second home ownership, but you want to get the facts before you buy. Foreign investors love Panama and have targeted this nation as a prime destination for a second home for vacations, retirement and investment.

"What's the main attraction? Price. Property in Panama is relatively affordable. Buyers can purchase highly-desirable property in Panama for less than one third or one half what they might pay for comparable property in the U.S.
"Buying property in Panama is safe and easy - foreigners enjoy the same property rights as Panamanians. There are over a dozen laws in the country that have been enacted to specifically protect foreign investors. Panama's constitution also protects private property and its owners. Every year, thousands of property transaction are conducted without problems.

"Additionally, there is real estate readily available in Panama to suit all budgets and tastes. From a luxurious high-rise apartment, to a tropical beachfront condo, or a breezy mountain retreat, there is a perfect piece of Panama property for every type."

CentralAmericaSecondHomes.com


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