AFRA

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Real Estate / Tourism

In response to the unprecedented growth experienced by the Panamanian real estate market in recent years, AFRA has a specialized team with comprehensive training to meet the needs related to the purchase and sale of real estate, among which include:

  • International hotel chains
  • Commercial and Residential Developers
  • Investment funds
  • Forest Companies
  • Banks
  • Retailers

The Panamanian Real Estate Market

A number of factors have made the Panama real estate market one of the most dynamic in the world. Panama has become a favorite destination for retirees from all over the world, many of whom choose to buy their residence in Panama. Panama offers a favorable tax system that attracts both foreign individuals and companies who want to expand their operations.

Panama does not restrict the purchase of real estate by foreigners. AFRA supports its clients during all stages of real estate transactions, whether commercial or residential. We deeply understand the complexities of the Panama real estate market, so we are well prepared to guide clients in making the best decision that leads them to achieve either their personal goals or long-term businesses.

A real estate transaction commits a large amount of assets, so it is essential to know everything you can about the property before closing.

AFRA services start right from the assessment phase of the property by an appropriate due diligence of the property, including title search, land surveys, public registry, and the registration taxes and levies.

AFRA complete counseling in real estate includes:

  • Title Verifications
  • Real Estate Acquisition Consulting
  • Agreement Drafting
  • Financing
  • Tax Planning
  • Permits and Authorizations

Tourism is one of the most important and dynamic sectors of the Panamanian economy. Since 2000, the Panamanian tourism sector has experienced unprecedented growth. This growth is due to a number of factors like its tropical nature, the capital's cultural diversity, heritage and stunning beaches. All highlighted by the dollarized economy, national security and certain incentives from Panamanian government as are the tax benefits for foreign visitors and retirees. These factors turned Panama into a preferred destination for retirees.

AFRA meets the needs of the tourism industry with a full range of services. We advise our clients on tax benefits, travel certificates, zoning, concessions and hotel management agreements. Our clients in the tourism sector have hotel chains and luxury tourism developments. We enjoy the confidence of most renowned companies worldwide.

AFRA is a full-service law firm that provides integral representation for corporate clients. Many companies looking to establish their business in Panama rely on our services because we offer reliable advice on all trade issues, facilitating our customers who need not hire the services of multiple companies to solve their various legal needs.

Our knowledge of the tourism legislation allows us to advise our clients in the planning and development of any tourism project, our offer also includes the analysis of available government incentives and the development of strategies to optimize their use.

Send your questions on Real Estate and Tourism to Partners Rodrigo A. Moreno Jr. and/or Luis R. López Alfaro.