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10 Things You Have To Know Before Buying Real Estate in Panama




Read this before buying property in Panama
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Project Panama Pacifico set for launch


The official launch and commencement of the Project Panama Pacifico will be held at the former base of Howard, on Thursday November 13. The project is set to provide Panama the specific Panama Pacifico Economic and Trade Area, which will act as a centralized hub for various trading entities and activities. The site is expected to conform to the highest international standards in terms of development and facilities.

The news of this development commencing is not only positive for the Panama economy, but offers huge opportunities to businesses as well as potential investors, businesses and residents.

This development will be created over a 40 year period by the developers London & Regional Panama, in a public – private partnership with the government of Panama. It will consist of a mixed business and residential complex, which will be developed whilst retaining Panama’s commitment to nature. Over 1400 hectares have been earmarked for this massive complex, of which just less than half will be dedicated to nature, parks and green areas. Included in the residential and commercial developments are schools and places of worship, as well as a world class golf course.

The area represents a fantastic opportunity for businesses looking to expand into the Latin American market, as well as for those looking to retire in or even relocate to Panama. The complex will have over 1 000 000m2 of commercial space and 20 000 homes will be built in the area; in this process over 40 000 jobs will be created.

For businesses locating, or relocating here, there are a specific set of incentives available, including but not limited to special benefits pertaining to customs, immigration and labor. The law that was specifically promulgated for Panama Pacifico is known as Law 41 of 2004.

The developers and the government have established a vision for the region which includes that of providing a world class commercial and business hub, with accompanying exclusive real estate and tourist attractions, located in the strategic country of Panama, or as they say ‘at the centre of the World.’