Is it possible for a foreigner to purchase property in Panama?

Question

Is it possible for a foreigner to purchase property in Panama?

Answer 1

Were you watching prison break last night?Is that where you got the idea?

Answer 2

Of course you can. Unfortunately those are the only people who can afford to buy property.

Answer 3

YES, I just bought a 2 bedroom/2 bath BEACHFRONT condo in Panama in Dec. 2006. I paid $225,550 (pre-construction price-that is the way to buy and get the best prices. It will be ready between Dec. and March 2007). The good news is 90 days from the time I secured the price-THE SALES PRICE FOR A SIMILAR CONDO IN THIS PROJECT IS $72,000 MORE THAN I PAID!

You have the exact same rights as a Panamanian when it comes to owning titled property in Panama. You will need a Panamanian attorney to open a corporation for you first.(It is real simple, just a matter of paperwork. The property is in the corporation's name and you own the corporation).

I am going back to Panama for 2 weeks in August, with friends who want to buy there. I have read predictions of Panama real estate going up in price as much as 400% in the next 3-4 years. IT IS A VERY HOT MARKET!!

I studied all the Central American countries for 1 1/2 years before I choose to go to Panama and buy there. I will be happy to tell you why I choose Panama!

If you are really interested in Panama and how I got a great real estate guy from Chicago to meet me in Panama and help me to pick the best property for me, email me @: [e-mail].

Answer 4

Yes of course you bring the money Im sure they will be happy to ave it. Just get a good lawyer. I always look at islands for sale around there although not within my buget its nice to dream. http://www.privateislandsonline.com/ I think