The Brax Blog

Intelligence, not brochures.

Financial models, tax principles, legal frameworks and zone guides — written for people who read numbers.

Monthly Recap · Issue 1

Panama Business Recap — August 2026: what happened, what's next

4.9% growth, a construction rebound, a new 2% ITBI transfer-tax exemption, 10.4% unemployment — and what it signals for September.

7 min read · Read →

Country Advisory · Wealth Structuring

Panama's Law 526 — what the new economic substance rules actually require

Law 526 attaches a substance test to Panama's tax exemption for multinational-group entities earning foreign passive income, effective FY2027. Who's actually in scope, and who isn't.

6 min read · Read →

Lands · Price Signals

Panama's land price gap — what a 12x spread between corridors signals for buyers

Land runs from roughly $200/m² on the city's edge to over $2,500/m² in Punta Pacífica. What that dispersion actually maps, and how to read it before you buy.

6 min read · Read →

Owner · Direct Sales & JV

Panama's resale inventory is tightening by neighborhood — what it means if you already own

Resale listings fell 30-59% year over year in several close-in neighborhoods, while the segment above $800K still carries a year-plus backlog. Three ways to bring an owned asset to market.

6 min read · Read →

Founders · Market Timing

Presale is back in Panama City — here's the right moment to buy

New-construction sales hit $196.7M in May 2026, up 27.8% year over year, as inventory fell 11%. Where a pre-construction price actually moves through a project's timeline.

6 min read · Read →

Short-Term Rentals · Regulatory Watch

Panama's Airbnb rulebook is being rewritten

A bill before the National Assembly would formalize ~13,000 unlicensed short-stay rentals; a separate fiscal bill could touch the ITBMS rate on bookings. What both mean for licensed STR investors.

5 min read · Read →

Country Advisory · Wealth Mobility

Where wealth is moving in 2026 — and Panama's place on the map

Henley & Partners scored Panama 71.5 in its 2026 Global Wealth Mobility Framework. What that score actually measures.

6 min read · Read →

Country Advisory · Structuring

Why family offices are choosing Panama

Panama's single-family offices average roughly $1 billion in AUM each. The Private Interest Foundation structure behind them, explained.

6 min read · Read →

Lands · Growth Corridors

Beyond the capital: Coclé and Herrera's next land corridors

Infrastructure investment precedes value appreciation. Why these central provinces are drawing land investors early.

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Lifestyle · Dining

The best luxury restaurants in Panama City in 2026

Ten kitchens defining the city's fine-dining scene right now — from tasting menus to the tables regulars actually book.

7 min read · Read →

Lands · Legal

Titled land vs. maritime concession, explained

The same listing photo, three very different assets. What you're actually buying on the Panama coast — and why it matters.

6 min read · Read →

Founders · Pre-Construction

What "founders pricing" actually means

The discount trades for early, staged capital before a project has proof points. The payment structure and diligence that matter.

6 min read · Read →

Immigration · Deadline

October 15, 2026: what actually changes

The Qualified Investor Visa's real estate threshold doubles by decree. The real deadline to act is weeks earlier than the date itself.

5 min read · Read →

Process · Legal

How a Panama closing actually works

Registry due diligence, a notary who protects the deal — not you — and why most coordination happens over WhatsApp.

6 min read · Read →

Structuring · Legal

S.A. vs Foundation: how to hold property

One runs the asset. One passes it on without probate. Most buyers only need to choose correctly once.

6 min read · Read →

Luxury · Branded Residences

The address is the asset now

Global branded-residence supply is heading toward 900+ projects. Panama just joined — before the premium was priced in.

6 min read · Read →

Lands · How It Works

How raw land legally becomes lots

The ANATI/MIVIOT approval chain, the two types of segregation, and why this is Panama's highest-upside, highest-risk asset.

7 min read · Read →

Tax & Benefits

Panama's tax perks beyond territorial

The Pensionado discount schedule, import duty exemptions, and the property tax thresholds most guides skip.

6 min read · Read →

Market News · 2026

Panama's 2026 reset: the flat decade just ended

Inventory at nine-year lows, rents up 18 months straight, and a residency deadline in October. The market shifted.

6 min read · Read →

Infrastructure

Metro Line 3: the monorail redrawing the value map

A 5-10% premium near stations already, 10-20% projected. The most important thing in Panama real estate isn’t a tower.

6 min read · Read →

Investment · Yield

The 12% that's really 6%: reading a real ROI

How a brochure’s 12% becomes 6% in your account — and the one question that protects every investor.

6 min read · Read →

Lifestyle

Mountain, wave or drum: the home you already want

Volcán Barú, the surf coast, and the folklore towns — three lifestyles, three assets, one small country.

6 min read · Read →

Market · Luxury

Santa María vs Costa del Este

Two kinds of luxury fifteen minutes apart. Restaurants, lifestyle, and which neighbourhood fits which buyer.

6 min read · Read →

Market · Casco Viejo

Casco Viejo: why the ruins are the best investment

It overtook the Canal as Panama’s most-visited attraction. Fixed supply, UNESCO heritage, $34k/year licensed STR.

6 min read · Read →

STR Analysis

Generation Tower: the complete financial model

Gross vs net, real costs, scenario ranges — the full model for a licensed city STR unit.

7 min read · Read →

Tax

The territorial tax principle, explained

Zero tax on foreign income: how it works, what it requires, where the limits are.

8 min read · Read →

Lifestyle

Boquete in 2026: the complete buyer's guide

Climate, community, healthcare, costs — the full picture for the mountain market.

8 min read · Read →

Immigration

Investor Visa vs Pensionado

Requirements, benefits, and when it pays to hold both.

7 min read · Read →

Market

Santa María vs Costa del Este vs Punta Pacífica

Three prime zones, three investment models — which fits yours.

9 min read · Read →

STR · Legal

The STR legal framework in Panama

Law 80, ATP permits, the countryside exception, and the professional setup.

8 min read · Read →

Legal · Fiscal

Law 80 in 2026: what's actually still real

A 45-day permit rule that's fully active, and a tax-incentive registration window that closed Dec 31, 2025. The accurate picture.

7 min read · Read →

Neighbourhoods

San Francisco: out-eating Casco Viejo

Maito, La Tapa del Coco, and a daily local demand Casco Viejo can't match. Why the scene matters for buyers too.

6 min read · Read →

Lifestyle

A day inside Santa María

700 acres, a Jack Nicklaus course, and a boulevard that keeps its volume down on purpose.

6 min read · Read →

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