The property tax exemption law for new construction in Panama has been renewed.
After reviewing the extension for some time the government has finally confirmed the new law has been passed.
The previous law expired in August 2007.
The new law means that all projects that begin construction before July 1st 2009 will be exempt from paying property taxes for 20 years.
This is good news for anyone looking to invest in the Panama real estate.
The previous property tax exemption laws were one of the reasons Panama property is regarded as one of the top real estate investments in the world today so the new laws have been welcomed with open arms by potential investors.
The weak dollar is also increasing interest from Europe in Panamanian property. Couple that with direct flights starting from Amsterdam later this month and the future is still looking bright for the republic.
“The latest tax law has given the real estate market in Panama a massive boost. Many investors that were sitting on the fence have decided to now move forward with their Panama property purchase” said Alan Morrison of Knightsbridge Investment Group’s Panama office.
About Knightsbridge Investment group:
Knightsbridge Investment Group offers investment properties for discerning individuals around the world. Providing the foreign investor with a large selection of properties, Knightsbridge is a comprehensive knowledge source for real estate including all legal and financial aspects involved in purchase.
http://www.knightsbridgeinvest-panama.com/
1800 583 2779 USA Toll free
00507 228 07 Panama office
0800 032 5039 UK free phone