I have heard a lot of wide ranging speculation about the service fees that are payable with property ownership; How is this calculated and how can I find out the amount involved?
Yes, it is legal for foreigners to own titled property in Panama in their personal names, although we normally recommend that clients hold all property in the name of a Panamanian corporation for asset protection and tax reasons. Panama possession rights property, however, should always be held in the name of a Panamanian corporation, where the foreign person is the shareholder (or a Panama private interest foundation or trust can be appointed as the shareholder in place of the foreign person) of the corporation.
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