Panama Offshore Legal Services Blog

New Panama Property Tax Withholding Law Goes into effect January, 2019

Panama Tax Withholding
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Panama’s Ministry of Finance issued a decree requiring real property lenders to withhold funds on mortgages to pay for the property tax. The new decree takes effect on January 1, 2019.  In addition, another decree around the same time provides benefits to primary residences’ property tax. Continue reading »

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Top Five Expat-Friendly Areas of Panama City

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If you’re planning on moving to Panama, chances are you’ve done some research on where to live. There are many expats all over Panama, and a variety of great expat communities in nearly every part of the country. When it comes to population density, however, the greatest numbers of expats live in the capital, Panama City. Panama City is a bustling metropolis with many things to offer, whether you’re an expat or a local.

The city is growing at a breakneck pace, and each neighborhood offers something a little different. If you’re looking at moving to Panama City, and want to know where you should live, we recommend you visit first. That being said, here’s some solid info to get you started so you know what to look for once you’re here. Here are Panama City’s top 5 neighborhoods for expats:
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Discover Pedasi: A fantastic eco-friendly expat community

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For people who are looking to relocate to, or retire in Panama, the town of Pedasi in the Azuero Peninsula is at the top of the list these days. Its growing popularity is coming at a time where record numbers of expats are choosing Panama as their new home, and there’s good reason for it too. Pedasi is remote, safe, full of fun things to do, and surrounded by some of the country’s most beautiful biodiversity. It’s also a well-known area of Panamanian ecological preservation, and a burgeoning coast for surfers, body boarders, and lovers of the beach in general.
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Live and Retire in Coronado, Panama!

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Panama is rich with natural beauty and modern conveniences, and when it comes to both in one place, Coronado has it. This is one of many reasons why Coronado is one of the best places to retire in Panama. Coronado is a beach town with so much to offer for retirees; you’ll feel right at home. At the same time, you’ll also enjoy the tropical paradise that is the Panamanian Pacific coast. There’s world-class shopping, golf, great restaurants and bars, and of course, a booming real estate market. Coronado is also just an hour’s drive from Panama City, making it an easy trip to Tocumen International Airport, and all of the amenities the capital has to offer.
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How Growth in Tourism Will Bolster Panama’s Overall Economy in 2019

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By global standards, Panama’s near decade of unprecedented growth has been impressive. Even during a global financial slowdown, Panama managed to stay the course and pull through. And while most of this is attributed to banking/financial services, shipping logistics, and Canal-related business, there is one market that has been making huge inroads, as well as an economic impact: tourism. Tourism has brought in millions of new visitors each year, and believe it or not, has encouraged external growth in investment as a byproduct of it. In order to adapt and survive in the modern global economy, Panama (and everyone one else) needs to adapt. Can tourism be that boost that takes them to the next level?
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The Panama Canal: 100 years of progress and incredible engineering

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The word “Panama” typically brings to mind many things for those who live, work, and travel here. But to most of the world unfamiliar with the Central American nation, the first thing that comes to mind is almost always the Panama Canal. Heralded as one of the wonders of the world, and one of the greatest engineering feats in modern history, the Panama Canal has brought fame, fortune, and future prosperity to a country that’s small, yet incredibly powerful. Just a few years ago, the Panama Canal celebrated its 100-year anniversary, an event that marked many different eras, governments, and both economic and social cycles. Now, a few years after the 100th anniversary and inauguration of the new upgrades, we take a look at why the Panama Canal is more important than ever, and what it will bring to Panama in the future. Continue reading »

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Buying or Renting Real Estate in Panama? Here’s what to look for!

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If you’re looking to buy or rent properties in Panama, there are many options to suite any taste, or any budget. There are great deals to be had, fantastic areas to live in, and many diverse choices that can fit your need specifically. Just like anywhere else, you need to do a good amount of research and personal introspection before you make your decision when it comes to Real Estate. After all, you’re buying or renting in a foreign country, and you should know the rules before you start. Continue reading »

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Immigrating to Panama From Poland: What you need to know ahead of time

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Poland is a country steeped in rich history, with a resilient, proud people who are both forward-thinking, and diverse in cultural tradition. Right now, Poland is going through a transitional period. This is nothing new for Poland, but for many, the opportunities abroad are just too good to pass up. For people in the European Union, including the Polish, immigrating to Panama is something that is right within reach, without a lot of the similar cost and jumping through hoops they may encounter in other parts of the world. If you’re from Poland, and the thought of moving and investing overseas has been on your mind, you owe it to yourself to look into Panama. Here’s why. Continue reading »

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Immigrating to Panama from South Africa: What you need to know

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For many in South Africa, the turmoil and uncertainty of recent years has become just too much, and staying put no longer seems like a good option. Right now, thousands of landowners in South Africa are under danger of either losing their land, or even worse, their lives, with no immediate end in sight, and little aid from the outside world. As chaotic as life is in South Africa, the resilience of its people is inspiring, and people are taking action into their own hands, and making the choice to emigrate. While this choice is never easy, it’s the best bet for those who want to improve their lifestyle, increase their safety, and continue to grow professionally, or as investors.

While there are many great options around the world for South Africans when it comes to emigrating, one place keeps popping up at the top of the list for people of all ages/backgrounds. That place is Panama. Continue reading »

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Renting vs. Buying in Panama: How to make the best real estate choice

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If you’re planning on relocating to Panama, whether for a short or long period, you’ll need to decide whether you want to rent or buy Panama real estate. Both options have a lot to offer, and both can be financially beneficial depending on your lifestyle and circumstances. If you’re looking to rent or buy in Panama, you’ll need to do some due diligence first. The Real Estate market in Panama is diverse and has an abundance of new properties, both in the cities and the suburbs. From luxury skyscraper apartments, beach houses, estates, family homes, and suburban condos, Panama has it all, to buy or rent. Here are some quick tips on how whether you should rent or buy in Panama. Continue reading »

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