Royal Palm
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Overview
Two 28-story towers on Malibu Beach in Gorgona, Panama, offering resort-style living 50 minutes from Panama City. The completed building has 1-2 bedroom units available, with some developer units still for sale.
Building/Community Amenities
- 24/7 Security
- BBQ / Grilling Area
- Clubhouse / Resident Lounge
- Fitness Center / Gym
- Gated Community
- Hot Tub / Jacuzzi
- Indoor Pool
- Lap Pool
- On-site Retail / Shops
- Parking
- Party / Event Room
- Playground / Kids Play Area
- Pool
- Private Beach
- Private Pool
- Restaurant (On-site)
- Rooftop Deck / Terrace
- Sauna
- Spa / Wellness Center
- Sports Court / Facilities
- Waterfront / River View
Investment Insights
Legal & Ownership
Legal & Ownership Information
Ownership Structure
Ownership Rights
Full ownership rights (Freehold)
Foreign Ownership
Foreigners can own property in Panama with the same rights as locals, ensuring a secure investment environment.
Tax Considerations
Property Taxes
Property taxes in Panama are relatively low, enhancing its attractiveness to investors
Transfer Tax
purchase, there is a transfer tax of 2% of the property's purchase price
Inheritance Tax
Capital gains tax is generally 10% of the profit made from the sale of the property
Important Considerations
Restrictions
- There are no restrictions on the amount of property foreigners can purchase, offering flexibility for diverse investment strategies.
Required Documents
Financing Options
Financing Options
Financing in Panama
Panama offers a range of appealing property financing options for foreign buyers, making it a compelling destination for real estate investment. Foreign buyers can typically secure a loan-to-value (LTV) ratio of up to 70%, though this can vary based on the buyer's financial profile and the property type. Panama's growing economy, coupled with its stable banking sector, makes it an attractive spot for mortgage financing. With competitive interest rates and a straightforward property purchasing process, Panama is increasingly becoming a hotspot for international property investors seeking to diversify their portfolios.
Requirements for Foreign Buyers
- 1Valid passport
- 2Proof of income (pay stubs or tax returns)
- 3Bank statements (typically for the last 6-12 months)
- 4Credit report from the home country
- 5Letter of employment or CPA verification
- 6Completed mortgage application form
- 7Proof of funds for the down payment
