The real estate industry can be broadly defined as a collection of industrial and services sectors of the economy, such as construction which includes housing construction, as well as construction of commercial offices, retail and industrial buildings, and infrastructure projects such as dams, roads and bridges, brokerage services, real estate finance services (mortgage banking, real estate investment), real estate operations, property management, architecture and design. The development of this industry has a great impact on the economic growth of any country and it is considered the single largest asset which represents the country worldwide.
Panama is an international business hub and a rapidly growing country. Panama is one of the world’s top offshore havens and it is continuing to emerge as one of the world’s greatest economy. The properties in Panama are much more affordable with all the amenities and comforts you need Panama real estate is the part of prestigious ‘Business Panama Group’. It is well reputed group of companies, professionals and alliance partners which provide One Stop Shop Solution for real estate, business, investments, insurance, mortgage brokerage and financial services in Panama to individual and corporate investors. The big advantage for Panama Real Estate is that there is stability in government and currency which attracts more investors to invest their money in chosen portfolio. And one more things that the process to buy property in Panama is relatively simple which follow five steps:
Step 1: Confirm the Title
The first thing you need to do is confirm the legal owner of the property. After getting the property of your own choice ask the owner for two important documents: the public deed containing the title (escritura) and the ownership and encumbrances certificate (certificado de registro publico) from the public registry. You should then give these to your lawyer for an updated search.
Step 2: Promise to Buy
Enter into a promise to buy-sell agreement, whereby you give the seller a down payment and set a date for the transfer of title.
Step 3: Transfer the Title
Your lawyer will draft the final purchase and sale contract. He will gather all documents and make an additional search to ensure that no liens or mortgages have been filed in the meantime.
Step 4: Transfer the Funds
The safest thing is to pay the balance of the purchase price through an irrevocable letter of payment from a local bank in Panama.
Step 5: Record Your Purchase at the Public Registry
This process normally takes a few weeks, but can be done in about 10 days by having your attorney file the documents directly at the main office of the public registry in Panama City. If you are in a great hurry, the public registry charges an additional fee of $250 for next-day registrations.
Panama Real Estate
The most elegant part of the panama is the most popular location, home to corporate centres and many leisure activities. And that drives demand for Panama Real Estate as it is a prime city centre location and a good projected resale market.
But it’s not just the location that is helping to boost Panama Real Estate market, the government itself has for a while now realized the financial potential of foreign investment in what is a modern, vibrant, cosmopolitan, and very international city. Panama City is now the world’s second largest banking centre, behind only Switzerland, and there are many tax incentives on offer from the government to encourage business activity and real estate ownership. There’s never been a better time to buy. Early investors also have the option to combine purchased units to create one, two, or three bedroom habitations - a great benefit for future resale.
Transport too is excellent, with direct flights to Panama’s Tocumen international airport from North America, Latin America, and Europe. Bella Vista is only ten minutes drive from the airport. Additionally, Panama City is the only city in Central America that can boast three airports, and is also well connected by the Inter-American Highway.
In all, Colores de Bella Vista literally towers over similar developments in Panama City both in terms of capital growth potential and projected rental yields, and is already creating quite a stir among those in the know.
All properties have undergone a rigorous and thorough selection programme, which ensures the best potential investor and that all legal safeguards are in place.
Real Estate Asset Protection and Anonymous Ownership
It is still possible to own real estate anonymously in many different countries around the world using anonymous corporations where the owner’s names do not appear in any registry or public database. The government does not even know the name of the owners of the corporation. Our law firm can handle the closing of the escrow, signing on behalf of the corporation and the funding of the escrow. You would only wire money to the law firm trust account, not the escrow account. It would be impossible for one to associate your name to the real estate purchase, escrow or registration. You could then rent the property from the corporation owning the real estate and pay rent to explain your living on the property. Useful to conceal real property assets as a ploy to reduce your litigation profile and risk of kidnapping, blackmail and extortion.
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