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Panama offers an excellent offshore platform for real estate investment.

Real Estate Incentives

• Tourist zones are granted a 20 year exemption on real estate taxes and a 15 year exemption on income tax.
• Non-tourist related properties are exempt from property taxes for 10 to 20 years.
• Commercial Buildings – 10 year tax exemption.
• Residential Property – 20 year tax exemption for property with building permits issued before July 1, 2009 and occupancy permits before December 31, 2011.
• Foreigners that investment in real estate are able to obtain residency visas through a special incentive established by Panama’s immigration authorities.
• Panama has no restrictions on foreign investment and the repatriation of profits earned in Panama.

IRIS W.L.L. offers you the following financial services in Panama:

• Bank selection to suit your specific needs
• Opening a personal account
• Opening a merchant account
• Pre-approving and lending residential mortgages

Mode of Financing

The $US dollar is the local currency thus allowing Panama to be the only country in Latin America that offers a 30 year mortgage with rates in the 6-7 % range. Clients can apply for mortgages with HSBC, Citibank, Scotiabank, or thru any international or local bank with presence in Panama.

Owning Property in Panama

You will hold full title to your property with a publicly recorded deed of sale. It is just like a fee simple real estate purchase in the U.S. A resale program will also go into effect when 85% of the building has been sold. This will allow you to offer your unit for sale before closing if you so choose

Panama Offshore

100% tax haven through use of S.A.’s.

• Panama has a number of offshore benefits that protect investor assets and minimize tax burdens.
• The use of Bearer Share corporations allows shareholders to be completely anonymous to all government authorities, while still maintaining their security to the shareholder through the use of Resident Agents.
• Panama has an official entity called the Private Interest Foundation, which completely protects all assets that have been under its protection for a minimum of 3 years.
• Secrecy laws similar to Switzerland must be enforced by law firms and banks in Panama, therefore protecting identities of investors.

The majority of investors purchase real estate through an anonymous corporation (S.A.), which is held in bearer shares by it owner(s), and can easily be transferred or disposed of by the private sale of the shares. In this manner, the Panama property registry has no record of title exchanging ownership, and as a result, cannot enforce Panama’s 2% property transfer tax.