Expat Community > Panama

llactivities
Joined 2012
Posts: 97

Borrowing Money

7 years ago

Nothing recent on this forum. re. borrowing money here -

What sources - private's or otherwise - are now available for Expats - Pensionados to borrow money here now ?

Laws apparently changed recently without notice and most if not all banks in Panama - - no longer lend money to Expats moving here from anywhere - " unless they have their income source direct deposit funds into a local Panama bank. - eg. pensions - social security etc. "

If the banks are not doing it - who /what is -? There is a huge market here for investments - in property and otherwise - mortgages. renovations - etc etc

What are the options ?

How are people dealing with this ?

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