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Ortiz & Anguizola Law Firm
FAQ
Q: What is a Panamanian Corporation and how can it work for me?
A: A Panamanian Corporation is an anonymous association with shares that is commonly used in asset protection and to expedite property transfers. There are many ways to apply a Corporation including owning properties, vehicles, businesses, and bank accounts. Having loved ones in you Corporation ensures that they will receive their inheritance without a long and costly legal battle. Offshore companies have the combined benefits of tax exemption, anonymity, privacy protection and limited liability.
Q: Can a non-Panamanian own property in Panama in their own name?
A: Yes, if the property is titled. Using your passport, your attorney can register the property in your name.
Q: Are Panamanian bank records confidential?
A: Yes, Panamanian law dictates that banking records are kept confidential.
Q: How can I verify the status of a property?
A: The seller must provide you with photocopys of thier ownership documentation and land survey, we can verify the authenticity and status of the property through the Natioanl Public Registry of Panama, if the property is titled.
Q: How can I protect my funds during the purchace process?
A: We reccomend using escrow services and design our buy-sell contracts to protect your best interests (your funds) in the event that the seller doesn't cfufill his or her legal obligations to the buyer. Panama has a reliable Public Registry system, and this office maintains a record of all titled properties throughout most of Panama. Information regarding titled properties is readily available through the Public Registry, and is a routine process for us to undertake through due diligence on a lot or property (finca). Our attorneys can issue you in writing an abstract title of the land, along with any and all liens, mortgages, covenants, encumbrances, maps, verification of tax payments and utility bills, special characteristics, fence lines, encroachments, shared driveways, and registered surface area, and can verify that the person who is selling the property is the actual owner.
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Map of Panama
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Chiriqui Province of Panama
The Province of Chiriqui is positioned just below Bocas del Toro, runs adjacent to the Costa Rica border to it's west and along the Pacific Ocean to it's south. The largest community in this province is David, which is a short distance from the Pacific coast. To the north of David lies the "Cordillera Central" mountain range, where one can find the popular tourist areas of Boquete, Volcan and the Baru Volcano.The mountain portion of Chiriqui has the country's coolest temperatures, and climatic patterns that differ from anywhere else in Panama. There exist communities settled at 6,000 feet above sea level, where the evenings in particular are very cool and damp; temperatures often reach 0 degrees Celsius (32 degrees Fahrenheit), or cooler. It is in this region that coffee is grown, milk and cheese are processed, and ornamental plants are grown for export.
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