Panama Frequently Asked Questions

For the First-Time Traveler to Panama

Panama Tourism Overview
Do many tourists visit Panama?
When is the best time to visit?

Panama Tourist Visa Information
Do I need a visa to visit?
If for some reason I arrive in Panama without a tourist card, will I be denied entrace to the country?

Traveling to and around Panama
What’s the best way to get there?
What does it cost to fly within Panama?
How do I get from the airport to my Panama City hotel?
Is there a departure tax?

General Panama Information
What’s the weather like?
What should I wear?
What languages are spoken?

Panama Money Issues
What is the currency?
Which credit cards are accepted?

Health and Safety in Panama
Is Panama safe?
Are there any health concerns?
In case of an emergency, what kind of healthcare is available?

Lifestyle Issues

Moving to Panama Overview
What are the immigration requirements for a retiree?
How do Panamanians feel about foreigners moving there?

Bringing Your Stuff to Panama
Can I bring my dog or cat?
How do I get my household furniture into the country?
Can a foreigner bring firearms or own firearms in Panama?

Living in Panama Overview
What about private health insurance?
Once I find a house, is it difficult to find workers who can help me in fixing it up, and are they expensive?
Are there any problems with water or power outages?
What is the educational system like?
How does living in Panama compare to other countries that IL writes about?

Cost of Living in Panama
What is the general cost of living in Panama?
What does it cost to call the United States?

Panama Leisure and Entertainment
Are there many tennis and golf clubs, and how much do they cost?
What other kinds of activities are available in Panama?

Guide to Buying Real Estate in Panama

Panama Real Estate Overview
Is it safe for a foreigner to buy and own property in Panama?
What are the procedures to buy real estate in Panama?
Must purchase contracts be in Spanish in order to be legally enforceable in Panama?
Can I block public access to the beach if I own beach front property?

Duration of Real Estate Purchase Process in Panama
How long does it normally take to register a title transfer in the Public Registry of Panama?
How long does it normally take – from start to finish – to purchase property in Panama?

Panama Real Estate Prices and Costs
What are the average property prices in Panama?
What is the normal down payment when purchasing property in Panama?
What are average closing costs?
Who normally pays for the title transfer tax – the buyer or the seller?
Who normally pays for the closing costs on real estate transactions in Panama – the buyer or the seller?

How to Buy Real Estate in Panama
Are escrow companies commonly used for property transactions?
Is it safe to buy shares of a Panamanian corporation which holds title to property in Panama?
If I am a US citizen, can I use my IRA or 401K money to buy property in Panama?
Is it legal to buy options on property in Panama?
Are options available on property in Panama?
Do many sellers in Panama offer owner-financing options or leases with purchase options?
What is the liability for real estate investors that "flip" (buy & immediately sell) properties?

Real Estate Taxes in Panama
Are there government taxes or fees for transferring property titles from the seller’s name to the buyer’s name?
Are there annual property taxes in Panama, and if so, how much?
What about property title transfer taxes?
Are there capital gains taxes on the purchase and sale of real property?
What about inheritance taxes?
Is there self-employment tax for real estate investors in Panama?
If I am a US citizen, can I apply a 1031 exchange to buying property in Panama, thus deferring my US capital gains taxes?

Financing a Property in Panama
Are financing sources readily available for foreigners to obtain mortgages for property purchases in Panama?
What documentation is normally required for foreigners (non-Panamanians) to obtain financing on property in Panama?
What are the interest rates for financing property in Panama?
Are there any special financing opportunities in Panama for retirees?
Are there any special financing deals available for first time buyers?
Is there a pre-payment penalty for paying off your mortgage loan before the end of the finance term?
How much do property appraisals cost in Panama?
What about home inspections? How much do they cost?
Is title insurance required for financing property?

Our International Living Panama Office Services

IL’s Panama In-Country Support
What services does your office provide?
How much is your consultation fee?
Where can I find a list of upcoming International Living events scheduled for Panama?