New tax exemption law boosts Panamanian investment appeal

(May 2008)Panama’s property investment market has just scored another point in its favour: the new tax exemption law, coupled with many other existing tax benefits, make Panama an increasingly popular real estate investment location.

Housing Minister, Balbina Herrera, announced recently that the country will be extending its 20 year property tax exemption for foreign investors. Those who purchase property developments with building permits issued prior to 31 December 2009 will be exempt from paying any taxes on property transactions carried out in Panama until 2030. This applies to new buildings and existing colonial style structures.

Panama City centre property performs immaculately in the investment scale - property appreciates well as in other quality negatively geared investments yet cash flow income returns are apparent. The weak dollar is also increasing interest from Europe in Panamanian property.

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