Panama Real Estate Blog

If you’re looking to purchase real estate to rent for investment purposes, but aren’t sure how to identify a good real estate deal, there are a few things you need to educate yourself on before you make your purchase.

A good real estate deal can be based on these components: price vs. value, the potential profit, and potential appreciation of the property.

Price vs. Value

When looking for a real estate property Read more

BOQUETE, PANAMA — New Zealand was too far, the south of France too cold and Colombia too unsafe for Casey and Susan Koehler. So the former Floridians settled quite happily on this mild and isolated coffee-growing town in western Panama for their retirement home. 

A former U.S. government official, Koehler had the bucks to spend his golden years anywhere in the world. That he and his wife chose this hilly, horsy town of 20,000 over their three other “finalist” destinations speaks volumes about Panama’s growing attraction to American retirees. Read more

Media sources from Modern Maturity to Conde Nast have given Panama high ranking as a spot for retirement and/or second homes. Panama has almost everything: rain forests, a diverse eco-system, pristine beaches, fertile farmland, highlands with mild climate, intact indigenous cultures and a world-class capital.

Panama wants to attract residents and businesses, and is working hard to do it. One way is by cutting the red tape. Requirements for the pensionada visa are minimal. You only need to prove that you have good health, no criminal record and an income of $500 per month ($100 additional for each dependent). If you buy a home for $200,000 or more, no matter your age, you can get a residency visa.
If you prefer, you can buy a home and enjoy many privileges on just a tourist visa, which can be renewed for up to 90 days. At the end of 90 days, you make a brief trip out of the country then return. Some expats do this for years.

The pensionada program lets you bring Read more

In today’s apartment rental market there are several things that are “must do’s” for becoming a successful landlord. The reason you’re playing the real estate rental game is to have the check in your mailbox on the first of the month, right? Here are a few tips that can help you to achieve this with as little aggravation and frustration possible.

First and foremost is finding the right tenant to rent your apartment, house or other rental. This is the most important ingredient in the recipe. Checking the prospective tenant’s credit history to make sure they are paying their bills is one of the best ways you can screen. A tenant that pays their bills on time most likely will send you their rent on time. Establish a clear system on collecting rent, handling complaints from the tenant and how you will contact them if you need to gain access to the apartment.

Secondly, Read more

This program allows foreigners to obtain legal residency in Panama under the condition that they are retired or pensioned. According to the Immigration Department of Panama, there is no minimum age required to qualify. Yes, that means even an 18 year old can qualify! Here’s the only requirement: The applicants’ retirement income (or pension income) must be at least a lifetime US$500 per month. For each dependent, the retirement income (or pension income) amount must be increased by US$100. The applicants’ income must be proven by providing documentation such as a letter from the institution or corporation that pays the retirement or pension income. This certification must be notarized and authenticated by the Panamanian Consulate nearest you (or by apostil). Permanent Residency obtained through the Pensioned Visa Program provides the holder with a Permanent Residency Card for certain discounts and exonerations of certain taxes.Pensioned Visa holders do not qualify for Naturalization (Citizenship). If Client wishes to obtain Naturalization (Citizenship / passport), which can be obtained
after five (5) years of being a Permanent Resident, Client would have to apply for a different type of Visa, such as Self Economic Solvency Visa, Reforestation Investor Visa, etc.

Procedures for Applying for Residency:
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FIRST (Finding a Property): Contact us to let us know what type of property you are looking to rent. iRi Group will help you narrow your search in finding quality real estate investments. If you have any questions about any particular listing, please feel free to contact us

SECOND (Negotiation): Once you find a property that you wish to rent, we will assist you to negotiate the price and terms. Once we have negotiated and agreed to the terms (rental price, lease terms, payment form, Broker’s commission, etc.), then all of these details are inserted by the broker on a property transaction form.

THIRD (Rental Contract): The information from the property transaction form is provided by the broker to the attorney, who drafts the Rental Contract, which is signed by both parties. A deposit, equal to the first months rent, is provided to the Broker, for payment to the MIVI (Ministerio de Vivienda/ Ministry of Housing). The first months rent (or in some cases two months rent, depending on the agreed terms) is paid to the land lord.

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