Posts tagged Rainforest
Panama Property
Nov 4th
Most visitors to Panama are at some point interested in investing in Panama Property. There are many reasons for this interest. The most important of course, is the beauty and diversity in the country’s natural resources that make it a paradise for people to vacation and live in. Whether you want to invest in a condo in the city, a beach side villa or a lodge in the rainforest, this is an investment of a lifetime. You may decide to move to Panama and live here or hire out your property to vacationers. Or you may be interested in buying out a Panama business and take over the real estate that it owns.
Panama is one of the few countries that has shown sustained growth and development despite the global recession. It has been affected by the global economic situation but not as adversely as many other countries. It has created a place for itself in the world tourism and has much to offer.
Buying Property
The Republic of Panama allows both its citizens as well as foreigners to buy real estate and land here. When you want to buy a Panama Property, there are several things that need to be considered. Firstly there are two different types of land or property that you can buy here; land that is titled and that which is owned by the government. The procedure for buying property in the country is different depending on who you are buying it from.
In any country it is important that due diligence is performed on a property before you sign the final papers and hand over the money. It is also a good idea to consider a few more properties in similar neighborhoods so that you have a clear idea of the kind of price you should be negotiating for.
A Promise to Purchase Agreement allows you the time and resources to conduct due diligence so that you know of all the practical details regarding the property. You can buy titled Property in Panama in any of the nine provinces of the country. About 10-20% of the total sale price can be paid as a down payment for the property. The final Payment and Sale Agreement will handed over with payment of property tax as well as capital gaining tax. A good standing property as well as standing water and sewage certificate also has to be procured by the seller. After the title deed is transferred in the name of the new owner, the balance of the sale money is paid.
Possession Rights
If you are interested in property that is owned by the government then you can buy ‘possession rights’ for the same only for a specified period of time. It is vital that you specify the business for which you are attaining the possession rights and that it is in keeping with the municipality laws of the area. Possession rights to agricultural or cattle land can only be granted by the National Agrarian Reform or The Cadastral Office and not by any other state or central government office.
You may also gain possession of property by buying a business or corporation that owns it. When you buy property it is important that all legal aspects are looked into before you invest your money. It would be wise to consult and take the advice of a lawyer before you begin proceedings to buy property.
Thinking of Retiring in Costa Rica?
Oct 30th
Costa Rica is a Spanish word which means “Rich Coast”. It is officially called the Republic of Costa Rica. The cost of travel is more expensive than any other countries in Central America but cheaper than United States and Europe. To enjoy your stay in here you have to learn their language which is Costa Rican Spanish. The cost of living in is not that expensive the average estimation is US$ 1,500 monthly if you prefer to live in a simple life style. Costa Rica is a tropical country. It has two major seasons dry and rainy. Rainy season starts from the month of May to December while dry season starts from January to May.
If you want to become a permanent resident retiree in Costa Rica you must have at least US$ 1,000 to US$ 2,000 monthly income however, if you plan to put up a business or invest here you must show a proof that you have US$ 200,000 minimum worth of investment.
Like Brazilians, Costa Ricans are also very friendly and hospitable. It counts as one of the most stable countries in Central America because they have high a standard of education and life style. While the pace of life is slower here, for anyone that is sick of being stuck on the freeway in traffic, you are going to love Costa Rica as there is almost no highway traffic here which means you can visit beautiful places such as beaches, volcanoes, rainforest and hills in just a short time.
For retirees who want to buy a house, you can save a lot of money because you can buy a house in Costa Rica for approximately 70% lower than what houses cost in the United States. Another great money saving benefit of living here is that as of the time of this writing social security here has definitely no tax.
The staple of Costa Rican food is quite simple and consists of rice and beans, but as the country grows in popularity with tourists many different worldly restaurants are springing up everywhere. If you are a fan of spicy food then you will likely want to spend your time on the Caribbean side of the country where there is more of a Jamaican influence. When it comes to drink the most famous drink in Costa Rica is the Horchata, it is a cornmeal drink with a cinnamon flavor.
Costa Rica is one of the safest countries in Central America since the rate of crime is very low and as mentioned earlier the people are friendly and honest, however like any city or country in the world you need to keep your wits about you wherever you are and be aware of your surroundings.
