Here's another point of view regarding the issue of whether to own
Panama real estate directly or through an entity like a corporation.
(Vern)
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While Panama may have no estate tax, from what I know, personal
holdings must go through probate upon the demise of the owner.
Panamanian lawyers charge 30% of the value of the assets to do what's
necessary to get through probate, which for most people seems
exhorbitant.

I suggest that those considering holding Panamanian assets in their
own name consider lawyer fees and not just taxes paid to govt.

Although I am neither a lawyer or accountant (and certainly not giving
a professional opinion), I am suggesting a more thorough analysis of
all costs is warranted. (Name withheld)