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Purchase of Real Estate Property Through a Legal Entity
We are pleased to provide you with a detailed explanation of our services and fees as outlined below:
LEGAL FEES
Description | Amount in USD | Comments |
Due Diligence | 250 | |
Revision or drafting of the promise to buy contract | 750 | The fee includes the Follow-up contract revision |
Drafting a minute for a legal entity | 250 | |
Notarization of the deed | 250 | |
Registration of the deed | 150 | |
Updating records at ANATI | 75 | |
Changing the registered email of the property at DGI | 75 | |
Attending the contract signature and the deed signature | 150 | Per appointment |
Notarization of contract and other documents | 35 | Per notarization. It does not include the notary fee. |
Approximate Total | 1985 |
ESTIMATED EXPENSES
Description | Amount in USD |
Notary fee for drawing up the public deed of purchase and sale | 80 to 250 (Fee depends on the extension of the purchase deed and the fiscal stamps) |
Public Register fee | Depends on the sale price or the cadastral value, whatever higher. |
Land Authority (ANATI) fee for records update | 5 |
Notary fee for signature certification | 25 |
Notary fee for check custodian if the final payment is through a check. | 250 |
If you do not have a legal entity incorporated in Panama, our fee for assisting you with the registration is USD 1500.00; expenses are included.
Period of registration:
- Registering a legal entity after due diligence will take seven business days or more.
A Corporation/Foundation's Yearly Maintenance Fees are:
Description | Amount in USD |
Yearly Franchise Tax (Corporation) | 300 |
Yearly Franchise Tax (Foundation) | 400 |
Yearly Resident Agent Fee | 250 |
Yearly Compliance Fee | 250 |
Payment of franchise/property taxes | 45 |
Note:
- The legal fee and expenses are approximate
- Any additional service not contemplated will be charged separately.
- If a real estate reservation agreement is required, the fee is USD 350 for the drafting or revising of such an agreement.
- We will notify you immediately if we require additional expense money.
Payment Schedule:
- We require a cash advance of USD 1,500.00 plus USD 500.00 for the initial expense.
- If you require a legal entity registration, a cash advance of USD 3,000 instead will be required.
The remaining attorney fees balance shall be paid once the purchase and sale transaction has concluded.