Contact Sanet Contreras de Negri-Broker
sanetnegri@hotmail.com
011-507-66176724
011-507-64773480
011-507-7768093 efax
The government encourages foreign business entrepreneurs to come to Panama. There are many tax advantages and concessions for those willing to open a business – whether it’s big or small. Having the right people assisting you will ensure a smooth, quick start-up.
Call Sanet Negri Real Estate Broker, she will walk with you every step of the way and make sure that you have the best professional business team, comprised of the following:
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The lawyer. You want someone experienced working with foreigners - preferably one who speaks English, if you aren't fluent in the local language. The lawyer (or notary) is the one making sure you get what you pay for, i.e. property as described in the contract with clean title, etc. This is the key player on your team. |
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The accountant. We suggest you have two. Your tax burden, both at home and abroad, gets complicated once you leave the U.S. Doing the right type of planning at the right time will save you money. |
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The banker. Financing overseas can be challenging. Finding the right banker will determine how much leverage you can use -- and more leverage can equal more profit. |
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The developer (if you are buying in a development). This individual has to be capable of fulfilling his promises. Get to know him! If he has a vision and gets excited when he talks about his project, then you probably have someone who will complete what he starts. |
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The real estate agent. You can sometimes find the best deals by asking around in local bars if anyone knows of a property for sale. However, this only works if you are fluent in the local language! This means you will most likely need a local real estate agent. Finding an English-speaking agent, though, could be more difficult. |
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The property manager. You need someone you can trust to look after your property when you aren't there. For a lot in a development, this could be the developer - until he sells out and moves on. For a large piece of raw land, you might have to hire a full time caretaker. But usually, you are looking for someone to rent out your property and pay your bills. The person must be professional as well as trustworthy. |
You'll need other people, of course--travel agent, insurer, builder, etc.--but these six will have the biggest impact on your profits.
Sanet Negri will connect you with highly regarded individuals in each of these professions in order to maximize your success.
Investment Incentives for Investors
OBJECTIVES AND DEFINITIONS
Article 1. The objective of this Law is to establish a simple, prompt, and rational process to develop tourism activities in the Republic of Panama; grant incentives and benefits to persons engaging in tourist activities; adopt the necessary mechanisms for the public and private sectors to join and coordinate their efforts in the area of tourism; and promote tourism in Panama.
Article 2. The Executive Branch, through the Panama Government Tourism, shall assist the private sector by facilitating and expediting the required processing to establish and develop the tourist activities covered by this Law through the Executive Branch, other units of the Government of Panama and municipalities.
Article 3. Tourism is hereby declared a public service industry, and one of national interest.
Article 4. For the purposes of this Law, a tourist offering is understood to mean any commercial activity for the purpose of encouraging the stay of tourists in the country, and developing domestic tourism.
Tourist entrerprises are defined as follows:
Hotel: An establishment whose entire structure is used for public lodging, and has been built and especially equipped to furnish continuous lodging services and, as a general rule, meals to its guests, as well as other related services such a s reception services, a lobby, public telephone, and daily cleaning rooms and its other service units. The incentives set forth in this Law are available for golf or tennis courts, sauna baths, gyms, discotheques, restaurants, discotheques, and other activities connected with investments in hotel facilities.
Motel: A tourist lodging establishment located in rural areas, or near beaches or roads, for the purpose of providing lodging and meals for a price to motorists.
Apartment Hotel: A building for rental or lease to domestic or foreign tourists, equipped with the required furniture and provided with daily cleaning service and individual kitchen facilities for guests to prepare their own meals.
Cabins: A group of individual structures for lodging in rural areas, beaches, beach resorts, and ecotourism areas.
Time-Shares: An ownership mode whereby a co-owner or co-owners of a property destined for public tourist lodging manage same under a contract granting rights of use to various parties, during different periods of the year.
Tourist Horizontal Property Regime: An ownership mode where by the all the units of a building destined to a tourist lodging are owned by different owners.
Camping sites: An area destined to the exploitation of ecotourism, equipped with restrooms, potable water, and first aid materials.
Restaurant: A commercial establishment engaged in the sale of meals and beverages, with a minimum investment in infraestructure, not including the cost of the land, of one hundred thousand balboas (US$ 120,000.00) in the metropolitan area, and minimum of twenty thousand balboas (US$ 20,000.00) in the rest of the Republic of Panama.
Theme Park: One with an easily identifiable image, in wich a theme ranging from history to fantasy and even the world of the future, is developed within well-defined areas.
Bed and Breakfast: A tourist facility operated by an individual or family adjacent the owner's home or rooms. A small establishments that renders personalized service and home-cooked meals to guests, its architecture is typical of that which prevails in the area.
Inn: A lodging facility for travelers at a tourist site, where visitors may obtain self-service lodging and meal.
Convention Center: A facility adequately equipped to hold conferences; meetings; or technological, cultural, and tourist events; where clerical and simultaneous interpreting services into several languages are available, and several events may be held concurrently.
Contact Sanet Contreras de Negri for more information.
Broker of Dreams Come True Realty Panama
sanetnegri@hotmail.com
011-507-66176724
011-507-64773480
011-507-7768093 efax |