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Same as in USA
first a contract for a unit, then when finished the building we transfer title to you at the same time we collect the differnce pending. Tille is Title of a unit same as the USA.
for the costumer there is only fee to register the property on his name at the moment titke is transferred, but its minimal
THE PROMISSORY BUYER shall be entitled to assign this agreement or its rights hereunder only with the written consent of THE PROMISSORY SELLER.
Any such assignee must fully assume all of the obligations of THE PROMISSORY BUYER hereunder by written agreement.
he will have to pay income tax of the profit
this can help to get a loan, but developer only requiremement is to collect payment.
investing more than $300,000 or for retirement proof that he earns more than $2,000 x month.
The project is not built yet, in order to transfer title when project finished yes the builder has to have all cleared before transfer is allowed.
can set an LLC or Corporation, you will pay income tax in the us for only the difference of what you pay in Panama.
Doesnt go to an escrow account, but we can get insurance for the deposits.
Not safe. Better to buy with transfer title. When you buy a corporarion you assume responsability of the corporation, so in that case you will need more document making previous owner reponsable for what ever might come up from compromises of that corporation. I recommend you buy with transfer tiltle, then no risk.
only his passport information
We will need the following
1. Copy of your passport and a second ID
2. General Income tax returns (two last years)
3. Two bank reference letter
4. Job reference letter (if applies)
5. Latest 6 months of your personnal bank account statements
6. Copy of the purchase contract.
The interest rate will vary from 5.75% – 7%