If you require legal assistance to order the buying or selling of an asset in Panama we would be inclined to serve as your legal representative. Amass as much information as you can and then feel free to contact an Escrow Service
so we can help you and reply any questions you may have.
Non-Panama Land Property - If the non Panama Real Estate is had by a Panama Corporation, the sales agreement can be realized through an escrow in Panama by applying the assistance of an Escrow Service. Escrow agents in Panama can work escrow arrangements even if the asset being dealt is not settled in Panama as long as the owner is a Panama-located corporation. The shares of the stock, which lets one moderate the corporation, would be changed. There will be a transference of ownership of the shares of stock and as an outcome, the purchaser or the new owner of those stocks now carry control over the corporation’s assets. In this case, the real estate property owned by the corporation. The title of the property or the asset does not transfer in the country where the property is set since it is the corporation that possesses it. What shifts is the possession of the corporation. An Escrow Service can further define this issue to you. It should be noted that possession of Panama corporations is not registered in any register or database, even the government would not know who owns the company. In the case of exchange of ownership, such an event is not needed to be reported.
Transactions Involving the Dealing of Boats and Nautical Watercraft - The same principles hold. The boat is titled to a Panama Corporation and the shares of the corporation switch hands through the sale with or without an Escrow Service and the new owner takes control of the corporation and all its properties, in this case the boat. The enrollment of the boat remains the same since it is still titled to the corporation.
