Can Americans and Canadians Own Property in Panama?
Short answer: YES.
Foreigners can own property in Panama, and in most cases, Americans and Canadians have the same property ownership rights and protection as Panamanians.
You do not need to be a Panamanian citizen—or even a resident—to purchase titled property here.
But there is an important second part to that answer:
Not every property being offered for sale in Panama is necessarily a property you should buy.
Where Are the Restrictions?
Panama does have restrictions on foreign ownership in certain protected or restricted areas, including property located too close to the country's international borders.
There can also be additional considerations involving national parks, protected areas and certain coastal or island properties.
How do we protect you as REMAX PANAMA? It’s simple: unless you have a very specific reason to explore one of these situations, there is plenty of good, properly titled property in Panama. Keep it simple. Buy properties with checked title and no pending legal issues.
The Bigger Question: Is the Property Titled?
This is something international buyers need to understand.
You may come across properties advertised as ROP, Right of Possession, Derechos Posesorios or possessory rights.
These are NOT the same thing as owning a titled property, its more like being granted the right to use it… for now.
With titled property, your ownership is registered with Panama's Public Registry.
Possessory rights involve the right to occupy or use land that may belong to the government rather than having registered ownership. While this blog does not intend to be a legal guide and is not written from the point of view of lawyers, but as your trusted realtors, agents and partners in this journey. We don’t need to dive into the law, it’s just a general understanding of what makes more sense for you to buy in a foreign country with different laws. This is basically a friendly reminder that, yes you can buy property and its safe, but there are also new scenarios you are not used to and is our duty to protect you.
That difference matters.
And sometimes the price will tell you there is something you need to verify before handing any money to a stranger.
You find a beautiful piece of beachfront property at a price that seems impossible and think:
“I just found the deal nobody else knows about!”
Maybe. You may be incredibly lucky, or, more likely…
If it's too good to be true, it probably is.
Warning: Facebook Is Not Due Diligence
Facebook groups and word of mouth can be useful places to hear about properties, they can also have outdated information from someone’s experience YEARS AGO.
They are not substitutes for professional due diligence. We’ve done this thousands of times!
We have earned buyers trust one property at a time. And we have also learned how to navigate a different system while maintaining some of the best practices we are used to in The US and Canada. Did you know there are no titling companies here? Traditionally there’s no use of escrow, BUT IT DOES EXIST. You can now hire this service or even use a local notary to hold certified checks until closing, to grant you protection from loosing a deposit if a transaction falls threw. Just because is not “how things are done here” doesn’t mean you can’t do it. There are levels of protection for you to buy safely.
Before putting money down, make sure you understand exactly what you are buying, who owns it, whether the title is properly registered, whether there are liens or restrictions, and whether there are any circumstances that could affect your ownership. What if theres a claim or dispute from someone else claiming to be an owner? Do not worry, we know how to navigate this for you, so you don’t have to learn from your own experience.
Buying property in Panama as a foreigner is not something you should be afraid of.
You just need to buy the RIGHT property.
So, Can You Buy Property in Panama?
If you're American, Canadian or another foreign national, the answer in most cases is:
YES!
You can buy a condo in Panama City, a home in Boquete, land in Chiriquí, or that beach property you've been dreaming about.
Just don't confuse a great price with a great investment.
At REMAX Panama, we can help you understand the market, identify properly titled properties and connect you with the appropriate professionals for the legal due diligence before you buy.
Found a property online and aren't sure what you're looking at? Contact us. We'll help you ask the right questions and verify a property before you make the wrong investment.
Remember, you get our experience and guidance FOR FREE!
The seller usually pays the fees associated to our service and you can enjoy all the benefits at cost zero.
This article is for general informational purposes and does not constitute legal advice. Property ownership, title status and restrictions should be verified by a qualified Panamanian attorney before purchasing real estate.