Panama has a unique law called "Rights of Possession" (ROP) that allows people to possess government-owned land in order to make improvements upon it.
Recent legislation in Panama now allows owners of Rights of Possession (ROP) to convert it into titled property by obtaining a deed, which can then be recorded with the Public Registry.
Process for converting a Panamá ROP into a Titled Property:
The applicant will need a service agreement with his attorney to process the title with the assigned government authority.
The applicant will provide the Attorney with a copy of the “CONTRACT FOR THE SALE OF REAL ESTATE AND TRANSFER OF POSSESSION RIGHTS OF THE LAND” (Purchase/transfer contract), the property survey, the ROP certification, and the witness's declaration.
The attorney gathers and organizes all property documents required for the title application at ANATI. (Autoridad Nacional de Tierras). He will also administrate visits and inspections from the assigned government authority.
A public deed of title is issued at the Public Registry after the intent is published in the newspapers.
The property's registered value will be used for property tax calculations based on the value at which the ROP was acquired.
In Panama, the government sets a specific price per square meter (m2) for Rights of Possession (ROP) land, which can vary based on the particular zone or region where the property is situated. These prices typically range from $0.10 to $30.00 or even higher per m2. For example, if you have a 10,000 m2 (1 hectare or 2.47 acres) property located in the Bocas del Toro South Community, the purchase price to the country will be $0.10 per m2, resulting in a total cost of $1,000us.
Assuming the applicant has met all requirements, the titling process takes six months to one year.
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