Right of ownership by non Panamanians (Foreign Ownership)
Foreign investments in all real estate areas are welcome and present in Panama. The procedures to adjust to the legal requirements in this area are simple and easy to implement. In the particular case of retirees (pensioners) who rent, Panamanian legislation provides for tax exemptions when taking cars as well as household items into the country and discounts on the cost of bureaucratic processing regarding moving and getting settled in Panamanian territory. Furthermore, it grants many other prerogatives and privileges to said retired persons (pensioners), as well as ample financial opportunities in Panama’s modern banking center.
Requirements to practice as a Real Estate Agent (Broker)
It is necessary to have a professional capability license, issued by the Real Estate Technical Board (“Junta Técnica de Bienes Raíces”) of the Republic of Panama. Panamanian citizens and foreign nationals who have resided in Panama for over 5 years are eligible to request this license, as long as they pass the professional examinations required by the technical board in a satisfactory manner and further do not have any problems complying with the other mandatory requirements.
November is one of Panama's busiest months in terms of National Holidays. If you are traveling to Panama during the month of November, it is very wise to coordinate your trip according to the national holidays.
Here are the national holidays for the month of November:
November 3 - Separation Day (from Colombia).
November 4 - Flag Day
November 5 - Colon Day (Celebrated on Monday the 6th)
November 10 - The uprise in the Villa de los Santos against Spain.
November 28 - Independence Day (from Spain).
The Inter-American Development Bank has approved a US$30M loan to Panama
The Inter-American Development Bank (IDB) has approved a US$30M loan to Panama for a rural electrification program, which will encourage investment in renewable energy projects such as small hydro power.
The program will promote public and private investment to provide service for 30,000 rural households, increasing rural electricity coverage by 10%.