Panama Enacts Coastal and Island Law

Law 23 governing the allocation of coastal areas was enacted in the Official Gazette.

Friday, April 24, 2009

This law generated controversy because it will give property titles to land on islands and to coastal lands, recognizing anyone who has occupied the land for 5 years as the original owner.

Jose Leon Quintero of Prensa.com wrote: "The prices laid down in article 9 for those who have possessory rights are: $50 per hectare (one to 20 hectares); $100 per hectare (20 to 50 hectares); and $150 per hectare if it is over 50 hectares.
The sale of the newly titled land will generate a payment of 25% tax on capital gains."

More on this topic

Nicaragua: Legislation on Property Ownership Unified

March 2017

A new law passed by the Assembly compiles all regulations concerning foreign and local investment in real estate, in order to provide legal certainty to investors.

From a statement from the National Assembly of Nicaragua:

The National Assembly has unanimously adopted in its entirety, this March 9, the Law on Nicaraguan Legal Digest of Property Matters, which will guarantee legal certainty to Nicaraguans and foreigners wishing to invest in the country, said Deputy Edwin Castro, Vice President of the Commission of Justice and Legal Affairs.

Changes to Land Titling Law

September 2012

The Panamanian government has presented for review at the National Land Council a draft bill which changes current land titling legislation.

The bill gives more power to the National Land Authority (Anati), such as a period of seven years for the role of administrator and the elimination of free titling in any of its forms.

Nicaragua Seeks Consensus on Coastal Law

May 2009

The domestic business sector demanded that this bill have the support of all the sectors involved.

Entrepreneurs argue that if the law—which establishes that vacant lots located within two kilometers of the coastline and 800 meters from lakes and ponds become property of the state—comes into effect, it would generate uncertainty among tourism investors.

Panama: Titles Awarded on Coastlines and Islands

April 2009

The new law will recognize whoever has occupied the land for more than 5 years as the original holder.

This new regulation, adopted on April 2 by the National Assembly of Panama, will grant titles to 22,000 hectares of islands and coastal lands, recognizing whoever has occupied them for 5 years as the original owner.

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