How The New ROP Land Titling Law Fiasco Can Hurt Panama's Global Image

[Dimitri Svolos]

The recent public forum held in Panama City last Thursday, October 29th, 2009, and last month’s public disdain and rejection of proposed law project 71 have brought the issue of ROP land in the forefront of Panamanian news.

The merits of this new Project Law 71 and its predecessor Law 23 have been debated and analyzed in great lengths in blogs and online forums. What I would like to discuss here is the effect that this whole ROP Coastal and Island Land Titling “gong show”.

In last week’s forum, it was obvious that the primary concern for all ROP land holders is the clear and present danger of expropriation. Despite finance minister Vallarino’s repeated assurances that project Law 71 only aims to reshape the pricing and tax aspect of ROP and not take away properties from ROP owners, everyone who has lived in Panama for a while feels insecure and concerned about the future of their invested money. Read More