For everyone who wants to invest safely
Economic uncertainty, an unstable political environment, or a national culture you no longer identify with: you've been thinking for some time about realizing your Plan B abroad or making an investment for the future – and had Dubai in mind?
- You're looking for a stable, long-term capital investment abroad?
- You want to build a Plan B that actually works when it matters most?
- You've already considered Dubai – and wonder whether the current situation there affects your plans?
Then now is the right moment to consider serious alternatives. Your Plan B deserves real stability.
But why Panama – and why now?
The geopolitical situation in the Gulf region has changed. What long defined Dubai – stability, accessibility, predictability – now stands under different conditions. A Plan B that doesn't reliably work when it matters is no Plan B at all.
Here at FRAPAN-Invest, we are Europe’s leading provider of property in Panama and your one-stop point of contact for everything to do with a second home in Panama. For years, we have been supporting German-speaking investors and people planning to relocate – with on-the-ground expertise and a clear understanding of what you really need.
Panama today offers what many were looking for in Dubai: political stability, USD as currency, territorial taxation, different residency programs and real estate at prices that no longer exist in Dubai. Complemented by an open society with Western values – and one of the most breathtaking natural landscapes in the world.
The Key Facts at a Glance
Dubai was long synonymous with a successful Plan B and investing abroad: an impressive skyline, international atmosphere, modern environment. Understandable that many wanted to invest there – or already have.
The reality in 2025/2026 looks different.
Military tensions in the Gulf region, restricted air traffic and a growing dependence on regional stability have fundamentally changed the framework conditions. Dubai will recover, but it will be different.
Panama was the answer – before Dubai became the question.
Two oceans, 80 km apart. USD as the official currency for over 100 years. Territorial principle: foreign income remains tax-free. A modern metropolis with an international atmosphere, luxury real estate at prices that are long gone in Dubai – and an open society where Western values are lived.
Panama is not a compromise. It is the clearer choice. Many Dubai investors are already here. Care for a closer look?
Dubai or Panama?
Let's take the journey together
| Dubai | Panama | |
|---|---|---|
| Investments | The real estate market is showing first signs of overheating in certain sectors. From the perspective of many investors, geopolitical uncertainties are increasing investment risk. Long-term planning is more limited than in previous years. |
Panama offers various tax incentives, especially for international investors. Territorial taxation applies – only domestically generated income is taxed. |
| Nature & Tourism | Dubai fascinates with an unparalleled luxury offering of superlatives such as the world's tallest skyscraper, the Burj Khalifa, as well as desert safaris, beach resorts and first-class shopping centers. |
Panama offers diverse tourist appeal with breathtaking natural landscapes such as beaches, mountains and islands as well as the famous Panama Canal. There is an abundance of activities for nature lovers and adventurers. |
| Currency | Dubai uses the United Arab Emirates Dirham (AED) as its official currency. |
In Panama, the US Dollar is used as the official currency. This facilitates international trade and makes Panama an attractive location for investors. |
| Political Stability | Dubai is governed by a monarchy and is regarded as politically stable, although this stability is closely linked to the regional security situation. Events since 2024 have shown that Dubai cannot be viewed in isolation from Gulf politics. External influences have a direct impact. |
Panama is politically stable with a democratic government and a functioning separation of powers. |
| Security | Recent events in the region have shown that Dubai can also be confronted with security-related incidents. This is a factor that should be taken into account when assessing it as a Plan B location. |
Panama is considered one of the safest countries in Latin America. The crime rate is comparatively low, particularly in tourist areas and affluent neighborhoods of Panama City. |
| Property Security | Dubai has a well established land registry system that secures property rights. Property acquisition by foreigners is possible under certain conditions. |
In Panama, the land registry system has a clear and legal protective function for property rights. The land registry is digitized and offers reliable documentation of property rights. Foreigners can acquire and own real estate in Panama. |
| Residence Permit | Dubai offers a wide range of residence permits and investment opportunities for foreigners, including the residence visa for investors and the freelance visa for self-employed professionals. |
Panama offers various options for a residence permit, including the retiree visa and the investor visa. The country is known for its friendly immigration policy. The specific requirements change regularly and will be clarified for your case by specialist solicitors practising in Panama. |
| Economy | Dynamic financial center – but increasingly state-dependent. Growth present, however it reacts sensitively to the regional situation. First dampeners in the tourism and real estate segments are noticeable. |
Panama has had an average economic growth of over 6% p.a. over the last 20 years. The country is an important trade and financial center in Latin America and has a well-developed infrastructure. |
| Cost of Living | Dubai has a high-priced standard of living and the cost of living can be significantly higher than in Panama. It is known for its exclusive lifestyle and offers luxury real estate, first-class restaurants and upscale shopping options. |
The cost of living in Panama is affordable compared to many Western countries. Prices for accommodation, food and services are favorable. |
| Banking System | Dubai has a well-developed banking system and is an important financial center with a wide range of banks and international financial service providers. |
Panama has a solid and well-developed banking system that is internationally recognized and offers a broad range of financial services. |
| Real Estate Market | Dubai is known for its spectacular real estate market with modern high-rises, magnificent villas and luxury residential complexes. Prices for luxury properties in prime locations are now barely affordable for many investors; the first signs of price corrections are beginning to emerge in certain segments. |
Panama offers a wide range of real estate options, from luxury high-rise apartments in Panama City to beach and mountain resorts. The country opens access to dream properties that would cost many times more elsewhere. |
| Infrastructure | Dubai impresses with first-class infrastructure, including world-class airports, modern road networks, top-tier ports and a well-developed public transport system. However, airport disruptions and restricted air traffic have recently shown how dependent this infrastructure is on regional stability. |
Panama has a modern infrastructure with well-developed roads, ports, airports and a metro in Panama City. The country is an important hub for logistics and transport in the region. |
| Healthcare | Dubai offers first-class healthcare with modern medical facilities and qualified medical professionals. |
Panama has high-quality healthcare in private facilities, particularly in Panama City. |
| Climate | Dubai has a hot desert climate with very high temperatures, especially in summer. The summer months can be extraordinarily hot, with average temperatures exceeding 40°C. The winter months are more pleasant and mild, with average daytime temperatures of around 20–25°C. |
Panama has a pleasant tropical climate. There are warm temperatures year-round, while it is somewhat cooler in the mountains. |
| Religion | In Dubai and the United Arab Emirates, Islam is the predominant religion. The country respects and follows the principles of Islam, with Muslim customs and rules playing an important role in everyday life. |
Panama has freedom of religion and a diversity of religions is practiced. The majority of the population is Roman Catholic. |
| Life in the Country | Dubai offers a luxurious lifestyle with a dynamic and cosmopolitan society. It is important to note that Dubai is a conservative society in which Muslim beliefs and values play an important role. It is advisable to familiarize yourself with cultural norms and customs to ensure respectful and harmonious coexistence. |
Panama offers an open and tolerant society with a relaxed and easy-going lifestyle. The country promotes democracy, freedom and human rights. Panama is known for its friendly residents and its cosmopolitan atmosphere. |
The table makes it clear: both countries have their qualities. The decisive difference today is no longer about lifestyle preferences – but about which location reliably delivers when it matters.
Panama offers everything a Plan B needs: political stability outside any crisis region, the US dollar as its currency, the territorial principle for the taxation of foreign income, various residency options, and property at prices that offer genuine value for money. All within an open society that does not require cultural adaptation.
Dubai was a compelling option. The framework conditions have changed – and with them the basis for a long-term decision.
Talk to us. We'll show you concretely what Panama means for you.
Oh, how beautiful Panama is…
Why Panama?
Profitable, secure, and beautiful: Panama offers a unique combination of advantages, making it an ideal destination for your Plan B. As a major aviation hub with 80+ direct international connections, Panama’s constitution guarantees private property rights and a secure land registry, making it an excellent choice for sustainable real estate investments.
- Democratic government, no military
- One of the world’s fastest-growing economies with 6% average annual GDP growth since 2002
- Official currency: USD
- World’s second-largest free trade zone
- Logistics & trade hub of the Americas
- Real estate transactions follow a familiar process, similar to Europe & the U.S.
- Breathtaking Pacific & Caribbean coastlines, spring-like mountains, and one of the world’s most biodiverse rainforests
Free Introductory Consultation
(15-20 min. via Zoom)
Get a personal and non-binding insight into our expertise, and have your questions about Plan B & Investments in Panama answered. Book your free consultation online now!
Free Introductory Consultation
Panama Real Estate & Second Residency
Your Investment Opportunities
- Prime residential properties in Panama City’s best locations
- Purchase or restoration of historic properties in the UNESCO-listed Old Town
- Mountain living with access to medical facilities
- Beachfront properties in Panama’s top coastal locations
- Special investment opportunities and land acquisitions
Property Selection
Browse a selection of our properties to get an initial impression. Haven’t found the perfect one yet? Book a consultation today – together, we’ll find the ideal property that meets your needs and expectations.
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VIBE — The Visa Project in a Prime Location
While entry prices in Dubai have risen sharply, VIBE in Panama City offers you a prime location from around USD 200,000 — plus a property whose prices and floor plans are precisely tailored to Panama's visa requirements. The successor to the sold-out ARMONIA, built by Panama's leading developer, where Klaus Happ himself purchased a unit.
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NAYAMARA — Airbnb at the Panama Canal
Interested in short-stay rental yields? NAYAMARA at the Panama Canal sits in a location that draws guests year-round — water views, close to the convention center and cruise terminal, fully furnished. Only 70% due on completion, everything in USD, in a market with noticeably lower entry prices than Dubai.
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CASA DAWSON — Living in the UNESCO Old Town of Casco Viejo
Instead of endless new construction: a finite stock of around 850 buildings. Casa Dawson in the UNESCO Old Town of Casco Viejo relies on lasting value through scarcity — backed by tax incentives specifically for Casco Viejo investments. New luxury hotels are further boosting the neighborhood's appeal.
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OCEAN REEF
Waterfront living with its own marina — comparable to what Dubai offers on the water, but right in front of a Latin American metropolis. Two islands, 170 boat slips, beach club and wellness facilities; the "The Palms" project offers residences as investment properties for the first time. Limited availability, the last project of its kind. Klaus Happ purchased here himself.
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GRAN CENTRAL — New Meets Old at Casco Viejo
A new waterfront-adjacent quarter on the edge of Panama City's UNESCO Old Town: four residential towers, a boutique hotel, retail and wellness facilities — an integrated neighborhood on one hectare. Comparable to what Dubai offers in mixed-use developments, but at noticeably lower entry prices and in a metropolis with historical substance rather than pure new construction.
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APARTMENT COMPLEX "ARMONIA"
- Located in a prime area of Panama City and just one block away from Avenida Balboa, the " Armonia " apartment complex is being developed with an extensive range of leisure facilities.
- The Bella Vista district and Avenida Balboa are among the most popular neighborhoods in Panama City.
- Just a few steps from the Pacific Ocean waterfront and simultaneously right in the city center with a variety of restaurants, supermarkets, and the nearest metro station just around the corner.
- In the immediate vicinity, you will find the university, the national hospital, the Santo Tomas metro station, and the new REY supermarket.
- Here, apartments are being built in two residential towers, ranging in size from approximately 45m² – 75m².
- Starting at around USD 150,000, this is a rare opportunity to invest modest sums in a prime location near Avenida Balboa, with a top-tier developer.
- Payment installments are based on construction progress, so you do not have to pay the full amount upfront. Construction is scheduled to start in the first half of 2023, with completion anticipated in 2025.
- Panama City continues to attract expats, multinational corporations, and tourists. Small apartments in Bella Vista are always in demand.
- The overall project will also include an aparthotel.
- The Armonia apartment complex offers a variety of social areas.
- On the rooftop terrace, you will find a swimming pool, a barbecue area, a lounge, paddle tennis, a games room, a cinema, and more. The use of these facilities (except for paddle tennis) is free for residents, as they are funded through the monthly HOA fee.
- On the ground floor, there is a fitness studio, a restaurant, and a pet shop. You will also find a cleaning service, a bicycle shop, and a co-working area. All of these services are fee-based.
- These properties in Panama are ideally suited as investments since small apartments are being developed in a fully equipped apartment building located in a highly desirable residential area.
- There are no other small apartments in Bella Vista of this quality!
- Feel free to contact us for floor plans, availability, and pricing information. We will gladly guide you through the entire purchasing process as your qualified partner with many years of experience in Panama's real estate market.
Optimal Properties for an Airbnb
- In Panama City, apartments are being developed in prime locations for an Airbnb near the Panama Canal.
- There will be 1- and 2-bedroom apartments ranging in size from 60m² to 106m²
- Prices start at USD 280,000.
- Prime location for Airbnb—the exhibition center is a 2-minute walk away and the cruise terminal is a 5-minute drive.
- With your purchase, you can apply for your residency permit in Panama. We are happy to assist with this as well.
Key Information about the Luxury Property in Panama City
- Favorable payment terms, with 70% payable only upon completion.
- The purchase price includes a parking space as well as full furnishings, ready for immediate occupancy or rental.
- Construction is scheduled to begin in January 2025, with an estimated build time of three years.
- Social areas featuring an infinity pool, fitness studio, restaurant, and bar.
- A renowned developer with extensive experience in Panama City.
- The Airbnb rental option offers you the opportunity to achieve attractive returns while also allowing for partial (or full) personal use of the apartment.
Prime Location for Your Investment
- Quiet location with direct access to the historic Casco Viejo and the city center of Panama City.
- The apartments and the location are also ideal for personal use.
- Spectacular views of the Panama Canal, the sea, and the surrounding islands.
- A new bridge, opened in February 2024, directly connects the UNESCO-listed Casco Viejo with the city center, making it easy to enjoy all the amenities of both areas.
- A wide range of leisure activities is available nearby.
We Are Here to Support You in Purchasing Your Property in Panama
- Enjoy the tranquility and beauty of the Panama Canal while earning a passive income.
- Many of our clients have already secured apartments, and the number of available units is limited.
- Feel free to contact us for floor plans, availability, and the price list. We will support you throughout the entire purchasing process as your qualified partner with many years of experience in Panama's real estate market.
- Contact us for further information and personal consultation.
- Secure your Plan B in Panama today.
Ocean Reef
- With the help of the German company Bauer, the two artificial islands "Ocean Reef" were created in Panama City, and they are connected to the city via a private road.
- The quality and location of this island property are unique in Latin America, as it is situated right in front of the center of Panama City.
- The two islands are connected by a marina with 170 boat slips.
- The properties and plots on Island 1 are completely sold, while on Island 2 new properties are currently being developed that are also suitable as an investment, as these apartments start at approximately 120 m².
- This is the first time that investment properties are available.
- There has been demand for rental apartments on Ocean Reef, but until now there has been no supply. That is now changing.
- In 2022, construction of a new residential project on Ocean Reef was launched, with many apartments already sold.
- In the project "The Palms", 63 apartments are being developed on Ocean Reef, offering pools, a beach club, a restaurant, wellness & more.
- Since only a limited number of plots are available on Ocean Reef, this will likely be the last project of its kind.
- Tennis, volleyball, a gym, a marina club, etc., are available on both islands.
- Buyers on Island 1 were mostly affluent locals.
- On Island 2, you will find international investors from around the world.
- For the first time, resales are available on Ocean Reef – that is, fully completed apartments that are now for sale on Ocean Reef. You can also find these on our website.
- For "Ocean Reef" near Panama City, we are the exclusive contact in the German-speaking region.
- If you believe in Panama's story as the "Hub of the Americas" (Latin America's Singapore) and see that many European investors are looking for locations outside of Europe, then "Ocean Reef" is certainly a very interesting real estate location in Panama City.
- In addition, rental income can be generated, allowing you to realize your "Plan B" for a second residence.
- The location is unique, the supply is limited, and the construction quality is excellent.
- Please feel free to contact us for further information (such as price lists, floor plans, etc.).
MODERN APARTMENTS IN CASCO VIEJO
- In May 2022, we began the sale of 20 apartments in Casco Viejo (67 – 191 m² / 1-3 bedrooms each).
- Together with our experienced construction partners, we are developing 20 apartments in the old town of Panama City in a modern and bright style, while historically restoring the building's facade.
- The historic UNESCO building from 1915 is currently under construction, and completion is planned for the end of 2023.
- Our modern apartments in the old town are also suitable for applying for a residency permit in Panama.
- With the Golden Investor Visa for investments in construction projects, you can obtain your visa within 30 days.
- Our residential building “Casa Antigua Domingo” is located in a prime location at the church square “Plaza Santa Ana”, which—with its church, pavilion, and tropical trees—is counted among the most beautiful spots in the entire old town.
- Santa Ana is the up-and-coming district in Casco Viejo, and Plaza Santa Ana is its center. New residential buildings and commercial spaces are being renovated here.
- Our apartments in the old town of Panama City are built and finished to a high standard and feature two levels as well as a balcony each.
- The two large ground floor apartments each have a private garden (approx. 25 m²).
- The building will feature an elevator and an exclusive rooftop terrace for residents, which includes a pool, fitness studio, and lounge.
- On the ground floor, two retail spaces will be developed.
- The building does not provide any parking (a parking garage is 5 minutes away and the metro station is a 15-minute walk away).
- Sale prices start at approximately USD 280,000 or USD 4,100 per m², including air conditioning, kitchen appliances, and built-in wardrobes.
- Payment is made according to construction progress.
- Feel free to contact us for floor plans and pricing information.
- UNESCO Tax Incentives:
– 30 years with no property tax
– 10 years with no income tax on rental income - The UNESCO old town of Casco Viejo is currently undergoing its next development phase. In March 2022, the new Hyatt Luxury Hotel “La Compañia” was opened, and the Sofitel will follow shortly. These luxury brands, along with the planned connecting road to the cruise terminal & convention center, will further revitalize Casco Viejo.
- The video shown here provides a good impression.
- The old town development is moving towards Santa Ana, as prices are even more affordable.
- Other construction projects in Casco Viejo are currently selling apartments for USD 4,500 – 7,500 per m², depending on location and quality.
- In the UNESCO old town, there are only about 850 buildings on a peninsula, whose inventory cannot be expanded.
- If you believe in the advantages of such a UNESCO old town with a naturally limited inventory, then an investment in a prime location in Casco Viejo is very attractive.
- If you are interested, please feel free to contact us. We will gladly send you further information about the project “Casa Antigua Domingo”, including floor plans and a price list.
Your Plan B in Panama – in 3 Steps
1. Initial Contact
Reach out via email or our contact form – we look forward to your inquiry! Share some details about your current situation, and we’ll get back to you.
2. Personalized Consultation
We’ll discuss your wishes, requirements and any questions you may have regarding second homes, investments and the necessary formalities – in a personalised, detailed and one-to-one manner.
3. Realizing Your Investment in Panama
We handle the property purchase and day-to-day management ourselves and put you in touch with specialist solicitors, tax advisers and local banks. We remain your local point of contact for any queries you may have.
About Me
Klaus Happ – Founder & CEO of FRAPAN-Invest
- Born in 1974 in Frankfurt
- Began my career in 1994 at Dresdner Bank while studying at the Banking Academy
- Worked until 2001 in money markets, foreign exchange, and securities for private and institutional clients
- Joined UBS Germany in 2002 as a specialist in securities and portfolio management
- From 2005 to 2016, I advised high-net-worth private clients on strategic investment decisions at UBS
- In 2015, I founded FRAPAN-Invest, which has been operating in Panama since early 2017
Let’s bring your Plan B to life in Panama. I look forward to your inquiry.
Frequently Asked Questions about Investments and Your Plan B in Panama
Dubai remains fundamentally stable, but the escalation in the Gulf region since 2025 has reduced its reliability as a Plan B location. Drone attacks in the region, restricted air traffic, and geopolitical dependence on the Iran conflict are real factors. A Plan B must work in a crisis — and this is exactly where Dubai's risk profile has shifted.
Dubai offers the Golden Visa (10 years, from a AED 2 million real estate investment ≈ USD 545,000), the Investor Visa (3 years, from AED 750,000), and the Freelance Visa. Panama's Friendly Nations Visa requires only a USD 300,000 investment and grants permanent residency immediately. Those seeking a genuine second home gain more rights in Panama with significantly less capital.
In a crisis, liquidity drops dramatically: buyers pull back, and rental demand from expats and tourism collapses, among other effects. In Panama, such shocks have a more indirect impact, since there is no regional crisis and the market is more broadly supported by local buyers.
In premium locations such as Downtown or Palm Jumeirah, Dubai achieves gross rental yields of 5–7%, and 7–9% in B-locations. Panama City is comparable at 5–7% for long-term rentals and 6–8% for Airbnb in prime locations. The decisive factor is the cost side: Panama has significantly lower purchase-related costs, ongoing costs, and no 4% Dubai Land Department fee.
Yes, significantly so. Panama has an open, Western-influenced Christian society with freedom of religion, a democratic constitution, and a rule of law rooted in the Roman legal tradition. Women, LGBTQ individuals, and families are not subject to any special cultural rules. Dubai requires adaptation to Islamic values and codes of conduct — manageable in everyday life, but a more relevant factor in a crisis.
The AED has been pegged to the USD since 1997 (3.6725 AED/USD); the peg is backed by substantial foreign currency reserves but remains politically dependent. Panama has used the USD directly as legal tender since 1904 — with no peg, no central bank risk, and no exchange rate volatility. For USD-oriented investors, Panama is the cleaner setup.
In Dubai, purchases are processed through the Dubai Land Department, with a 4% transfer fee and mostly off-plan structures (DLD Oqood pre-registration). Panama uses a classic notarial land registry system under Roman law, comparable to Germany — including the transfer of ownership recorded in the Registro Público. For Europeans, Panama's logic is more intuitive and legally easier to follow.
Yes, this is an increasingly common scenario among our clients, and we're happy to support you with it.
We don't make a blanket "either/or" recommendation — it always depends on your individual needs. Anyone looking for a crisis-proof retreat belongs in Panama. Many of our clients combine both locations — Dubai for business, Panama as a protected private and family anchor.
Didn't find the answer to your question? We are happy to assist you personally.
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