Do I need a Visa to visit Panama?
Citizens of European countries do not need a Visa, but a passport which is valid for a minimum of six months. Citizens of the USA need a tourist-card (or a Visa).
- Do I have to be a resident for purchasing property in Panama?
No – absolutely not! According to the law in Panama have non-residents the same rights as Panamanians for buying and owning property in Panama.
- How long does it take to travel to Panama?
Flight-time from London is about 14 hours. Flights are available from all major European airports.
Is it cheap to live in Panama?
Absolutely!
First: the general costs are a lot less than in Europe or the US. Supermarkets, Restaurants and Electricity are, compared to Europe or the US, very cheap.
Second: Taxes are a lot lower!
Third: it is a shopper’s paradise, with brand new Mega-Malls and the second biggest duty-free-zone in the world, after Hong Kong.
What facilities are available in Panama?
Panama is a modern country, even by western standards. Telephone, internet and satellite-TV – you name it and you will find it in Panama.
Even the tap-water is safe to drink, which is very unlikely in other Latin American countries. And the medical facilities are even far above average. Amongst many top class facilities, you even find a recently opened John Hopkins!
- Are there Embassies?
Yes, there are! Panama has friendly relations with most countries in the world!
Embassy of Great Britain – Calle 53
Urbanizacion Marbella
Panama City
Tel.: (00507) 265 7081
Is Panama a safe country?
Panama is the safest country in Latin America! Violent crimes are very rare – Panama even got the highest tourist safety rating by Pinkerton. And since the removal of Noriega, Panama is also politically absolutely stable.
- How safe is it for foreigners to buy property in Panama?
It is absolutely safe! Panama established more than a dozen laws, specifically to protect foreign investments.
All property titles, including those of foreigners, are guaranteed and protected by law. Many foreign nationals own already property in Panama, because it really is the ideal place for purchasing a second home or an investment property!
Is it possible to get finance for property in Panama?
Yes – normally foreigners get a loan approval for up to 70 per cent of the purchase price within 5 days. Most banks in Panama are offering this service.
- How much is the property tax in Panama?
All buildings in Panama are subject to a 20 year property tax exemption. If the permit for off-plan projects is dated before the 31.st of Dec., the project gets the same exemption.
