Panama Escrow Services
Below is a MRR and PLR article in category Business -> subcategory Other.
Panama Escrow Services
Overview
If you're looking to buy or sell an asset in Panama, using an escrow service is essential. Unlike many countries, lawyers in Panama cannot directly manage escrows. Instead, a licensed entity will handle the escrow process. Our Panama Legal Law Firm is here to represent your interests as a buyer or seller, ensuring a smooth transaction.
Sales Contracts
Our team will draft sales contracts that comply with Panamanian law. These contracts become part of the escrow instructions, providing a clear path to securing the agreed terms.
Escrow Instructions
We offer comprehensive escrow instructions, guaranteeing your protection throughout and after the transaction.
Non-Escrowed Asset Sales
In situations where the buyer and seller are on friendly terms, assets can be sold without escrow. While it's less secure, basic precautions can be taken to protect both parties.
Corporate-Owned Assets
Sometimes, assets are owned by a Panama Bearer Share Corporation. In these cases, transferring stock provides the buyer with control over the corporation and its assets.
Foundations and Escrows
A Panama Private Interest Foundation can handle transactions with or without escrow. As a legal entity, it can independently own, control, buy, or sell assets, separate from individual beneficiaries or protectors.
Real Estate Escrows
Most real estate transactions in Panama use escrow to guarantee clear title transfers. Our expertise in real estate escrow ensures a seamless buying or selling experience, free from conflicts of interest.
Selling Your Business
Selling a business via a Panama escrow allows you to channel proceeds into a Panama Corporation or Foundation. Transfer the business ownership first, and remember that under Panamanian law, no one owns a foundation. This structure ensures privacy and control.
Sale of Non-Panama Real Estate
If non-Panama real estate is held by a Panama Corporation, it can be sold through a Panama escrow by transferring stock shares. The property title remains unchanged in the other country, maintaining the corporation's ownership.
Selling Boats and Marine Vessels
Similar rules apply to boats. When titled to a Panama Corporation, the corporation's shares are transferred, granting the new owner control over the vessel without changing its registration.
Legal Assistance
If you need legal help for asset transactions in Panama, our firm is ready to assist. Please feel free to contact us for more information.
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