Is It Safe to Buy Real Estate in Panama?

One of the most common questions I get - "Ismix of the country no one really stands out as a
Panama a safe country?"foreigner - or different. So, when you or I arrive in
Yes, without a doubt. In fact Panama has beenPanama we are immediately accepted - we tend to
ranked one of the safest tourist destinations in theblend in.
world right along side Canada. Let me give you someThe US dollar contributes to safety as well. Often
personal examples and then let me give you somewhen traveling in foreign countries we are taught to
additional reasons why I believe Panama is so safe.keep our dollars out of sight - it's just too tempting
For some time we lived near the village of Boquete into the locals. In a country where the local currency
the highlands region. It was a daily scene - youngmay be devalued, the US dollar has a certain allure.
children and young women walking many miles toBut in Panama everyone is using the same money be
work or school. My wife and I are exercise addictsthey a farmer, banker or tourist.
and you might recall we were in the health clubAnother Safety issue many investors fail to consider
business. At that time there were no health clubs inis the weather. In recent years hurricanes throughout
the area so I purchased a used mountain bike. I justthe southern US and most of Latin America have
found one so my wife and I had to share. Eachbrought this issue to the forefront. As you saw in
morning I would go out around 6am and then aboutmy last Letter about Safety, Panama lies in a unique
7am my wife would go. She would cycle throughregion where violent weather is almost unheard of
town and out of town on the quiet winding countryand it is the only Latin American country which is
roads for about 10 km. Not once did she feel unsafe.Hurricane Free - that's right, records dating back to
At the time my boys were just 11 & 9. They would1851 show that Panama is in a safe zone where
walk out to the road and grab one of the local taxis,hurricanes never hit. (Click on this image to see the
pay 25c each and get a lift into town where theymap) As investors from Florida to Texas can attest
would buy 25c ice cream. Honestly, I would not haverising insurance rates can take a dramatic bite out of
had that much comfort and trust back in our homeyour return. In Panama your vacation and your
town in Ontario Canada. In fact I wouldn't have doneinvestment will never get blown away!
it there.It's also very safe to buy Real Estate in Panama
So what makes Panama so safe?Foreigners, whether residents or non-residents, enjoy
First, I believe we need to look back at Panama'sthe same rights and privileges when purchasing and
history. Panama is a peaceful republic and for most ofselling real property as do Panamanian citizens. Foreign
the past century has been under the watchful eyeinvestors are given a 10-year stability guarantee that
of the United States. Today's Panama was born of aall legal, tax, customs, municipal and labor rules will
multi-culture mix of peoples from around the worldremain identical to those in force at the time of the
thanks to the Panama Canal. To this day the peopleinvestment registration. Law # 54: Foreign Investor
debate "Who is the true Panamanian?" Most agreeProtection Law provides these guarantees
that the 7 indigenous tribes probably have the bestThe U.S. Embassy publishes the U.S. Government
claim. For the rest they are all immigrants of one sortReport on Buying Panama Real Estate and says,
or another. As a result it is difficult to tell the"Titled land, and the process of buying this, is similar
Panamanians from the visitors. You may seein concept to that in the U.S., and land and deeds are
someone who looks very much like an American, aduly recorded with the Public Registry".
Canadian, maybe they are from India or China - theBuying real property in Panama is so safe that major
reality is they could all be Spanish speaking 2nd or 3rdU.S. Title Insurance companies like like Land America
generation Panamanians. Because of the multiculturalTitle provide low cost policies in Panama.