How does one get into the real estate business in Panama ?

Question

How does one get into the real estate business in Panama ?

Answer 1

OK friend....it's like this.  You come here and you either go to ACOBIR or UNACOBIN and you take their prep course on the test.  They make you learn how to do all the taxes, how to conduct an appraisal, etc.

Then you have to take the Real Estate Board test in order to get your license.  If you pass, then you are able to apply for your license.  Before that you have to go to an insurance company and get a guarantee bond for $10,000.00 (I don't know the monthly cost), and then you can apply for the license.

The Real Estate Board will issue you a resolution granting you the license, and then you can start wheeling and dealing all the Real Estate in Panama.

Now the best part is that you can do this because you're a Panamanian.  If you were a foreign resident you would have to have a legal residence in Panama for over 5 years in order to be eligible.  I included this part since I know a lot of other people interested will see the topic and wil probably ask.