FAQ

Yes, Panama is generally considered a safe destination for tourists. The country has made significant progress in improving its safety measures and infrastructure to ensure a secure environment for visitors. However, like any other destination, travelers should exercise caution and be aware of their surroundings to maintain personal safety.

Foreign investors in Panama should conduct a title search, hire a local attorney, and choose the right location. Legal representation is crucial, and documentation should be in order. Understand property taxes and registration, and consider Panama’s visa options. Financing is limited for foreigners, and it’s beneficial to learn about zoning regulations and property protection. Panama uses the U.S. dollar as its currency, and resale potential should be evaluated with care. A local expert can help ensure a successful property purchase.

Panama offers diverse lifestyle options for expatriates, including city living in Panama City with its modern amenities, beachfront living in areas like Playa Morrillo, and tranquil living in the mountain town of Boquete. Expats can choose between urban and rural settings based on their preferences, whether it’s a bustling city life or a quieter, nature-centric lifestyle.

Panama boasts various popular tourist attractions, including the Panama Canal, a marvel of engineering and a symbol of the country. Other attractions include the historic Casco Viejo in Panama City, the stunning San Blas Islands with their pristine beaches and indigenous culture, and the lush rainforests of Darien National Park for nature enthusiasts.

Tourists visiting Panama should take standard safety precautions, such as avoiding displaying valuables, particularly in crowded areas, using reputable transportation services, and being cautious in unfamiliar areas. It’s advisable to stay updated on travel advisories and follow the advice of local authorities.

Panama has a tropical climate, with a dry season (December to April) and a rainy season (May to November). The best time to visit is during the dry season when the weather is sunny and rainfall is minimal. However, the rainy season offers lush landscapes and fewer crowds, making it a favorable time for eco-tourism.

As a foreigner looking to invest in property in Panama, you need to establish a Panamanian corporation, which will act as the owner of the property. Additionally, you must obtain a Panamanian lawyer to handle the legal aspects of the transaction and ensure compliance with local laws and regulations.

Yes, there are restrictions on property ownership for foreigners in Panama. Foreigners cannot directly own land within 10 kilometers of the borders or 20 kilometers of the coastline. However, they can own property through a Panamanian corporation, where the corporation owns the land and the foreigner owns the shares of the corporation.

Before purchasing property for investment in Panama, consider factors such as location, market trends, potential for rental income, and future resale value. Additionally, evaluate the infrastructure, amenities, and development plans in the area to ensure long-term value and returns on your investment.

Yes, there are tax implications for foreign investors in Panama. When purchasing property, you should be aware of the property transfer tax, which is typically around 2% of the property value. Additionally, property owners in Panama are subject to an annual property tax, which varies based on the property’s value.