The 45-day rule, the ATP permit, the countryside exception — and the professional setup.
Before buying any property to operate as a short-term rental in Panama, one question decides everything: does this property hold the correct permit for this model?
Law 80 of 2012 and Executive Decree 82 of 2008: any rental under 45 days in the Panama District requires a tourism accommodation permit from the ATP. Operating without it is unlicensed hospitality, with fines from $5,000 to $50,000. Crucially, the rule applies to the capital district — not the country. Boquete, Playa Venao, Bocas del Toro, El Valle: no restriction, no minimum nights, no ATP needed.
Licensed condo-hotel buildings (our portfolio includes projects like Generation Tower and Arcadia with active permits); the Casco Antiguo special tourism zone; and buildings holding historical ATP permits verifiable at the registry. The permit must exist on paper, in force, in the building's or unit's name — we verify it as part of our process before any recommendation.
An operating notice from the municipality (~$100–300/year), DGI tax registration with monthly ITBMS filings (10% on tourism lodging), optionally a Panamanian corporation to hold the asset ($800–1,500 to incorporate), and a certified property manager (typically 18–22% of gross) if you live abroad. Structured properly, countryside STR in Panama is arguably the most accessible in the hemisphere — and city STR works beautifully in the licensed buildings built for it.