Is Our Investment Money Safe? A New Initiative Offers Help!

[Dimitri Svolos]

As an expat living in Panama for quite a few years now and owner of ROP land and other investments , I can only be appalled from the recent installment of "gong show shenanigans" taking place before my very eyes regarding the Island and Coastal Property titling legislation.

The Martinelli administration is now backtracking on a campaign promise and is bringing forth Law 71 that aim to amend the previous Law 23 passed by the Torijos administration as its swan song. Eric Jackson of The Panama News did a great write up on the details of the proposed law and its current status along with his opinion of what is motivating the administration at this point. Another comprehensive explanation of the ROP saga can be found here.

What ever your dog may be in this hunt, the writing is on the wall: it is time now for all expats with investments and money at stake to start screaming "bloody murder" anywhere and anytime they can. We can no longer afford to sit back and let Crazy Dick (Martinelli) take care of things.

In a recent internet thread on the issue of the new Law 71 amending previous Law 23 on the case of Titling of Island and Coastal ROP property (click here), I found out about a newly formed expat coalition called American Alliance Panama (AAP) (visit their website, here).


Despite its title, this group is dedicated to assisting foreigners of all nationalities that are faced with legal and other corruption related injustices and predicaments. They have three experienced lawyers on retainer that will fly anywhere in Panama in defense of the groups members. In addition, the group will provide ambulance and hospital free of charge to its members should there be a need for such service.


Further more, AAP is striving to get American (and other nationalities) investors, together in one front and lobby due legal rights in this corrupt and rotten mess that is called Panama investment (and thus real estate) arena.


As en expat that lives here and holds investments in Panama I fully endorse this group and its initiative. One thing that I took out of these internet debates is that we can no longer afford the ostrich, don´t let it be known, sit on our hands and it will go away, strategy.