The Comfort of Competence

Hey guys, Mikkel here,

When you land in Panama, a lot feels (and looks) different - the air is heavier, the sun is shining (most of the time), the pace is human, the signs are in Spanish… and people still acknowledge you with a smile when passing by.  

But when you sit down with a banker, meet with an attorney, or walk into a notary’s office, the illusion breaks in the best possible way as you realize that the systems behind the scenes are not foreign at all. 

In fact, they’ll seem familiar. 

They’re well structured.

They’re predictable. 

…and most importantly, they run smoothly.

The names of the forms are in Spanish, sure, but the underlying systems and processes will feel familiar to anyone used to doing business or banking in North America.

After years of media-fed horror stories about “corrupt Latin countries” or “unreliable leaders,” most first-timers seem to expect a certain type of financial chaos.

They expect shady transactions, unclear ownership rights, and ultimately, expect some form of surprise headache to arise at some point during their endeavours.  

So, this edition of Off-Grid Plan-B is for those of you who have asked me the same question a hundred different ways:

“Isn’t it risky?

Isn’t it complicated?

Isn’t this going to be a headache around tax season?”

…because the answer is a FIRM NO.

It doesn’t have to be any of those things. 

Let’s get into it, 

You see, when you build offshore or even just buy a piece of land to hold as your family’s hedge, you’re not just dealing with paperwork. 

You’re dealing with an entire ecosystem of moving parts: lawyers, notaries, developers, banks, registries, architects, engineers, etc, etc.

…and if one of those parts misfires, reality is going to knock whatever plans you had way off track. 

So, needless to say, the secret to making this process smooth isn’t blind luck… it’s intentional alignment. 

You need to be connected to a network of professionals who have specialized experience in working with foreign buyers.

…and just because you’re reading this right now, this is exactly what you will get when you work with my partners at Veritas to secure an “off-grid” lot inside one of their communities.  

I know firsthand how smooth the process is when working with the Veritas team.

Not only do I personally own property at Veritas, Coronado, but I’ve also helped dozens of families and investors secure lots with them, too. 

…and every single time, things have gone flawlessly.

Still, I wanted to let you guys hear it directly from the source.

So I asked Andrea (Patrick’s wife, and the lovely person you’ll likely be speaking with when you reach out to [email protected]) to describe what clients can expect when they work with the team at Veritas to secure a lot inside one of their masterplanned communities.

Here’s what she said:

“We have personal experience living in the Latin American countries where we build, so we can give real, practical information about lifestyle, cultural dynamics, cost of living, safety, community, food, comfort, how to settle in, etc.

We understand the process of moving to a different country because we are expats ourselves; we have gone through immigration, adaptation, integration, culture shock, lifestyle changes, and all the emotional steps of relocating, so we can guide them from real experience.

Knowledge and guidance in solar systems, sustainable construction, biodigesters, water independence, energy efficiency and off-grid resilience, we don’t just talk about this, we actually know how it works, and we explain it to the client in practical terms.

We are not just developers, we will be neighbours in these communities, we genuinely care who becomes an owner because we live there too, so we know our clients personally and make sure the values match, which also gives security to the people who decide to be an owner in these communities.

Fast response times and real availability for questions, not only during sales, but also during the building and after the client moves in.

Zoom calls whenever the client needs support, to answer questions, help them choose the lot that best matches their goals, and plan their house construction and design if they want to make changes.

Updates for both the community in general and the construction of their home, through videos, pictures and reports.

Professionals who speak both English and Spanish, helping overcome language barriers and supporting the client with translation whenever needed.

We help them visit the communities and stay in the homes, we have a rental management company that helps with accommodations, transportation, and any information about the country if they want to take tours.

We guide them emotionally and psychologically during the relocation process, we understand that moving to a different country is a big emotional decision, and we offer clarity, reassurance and support.

We simplify administrative steps such as bank transfer instructions, paperwork review, titling guidance, and we double-check with them so they feel confident during each stage.

We help them integrate into a community, not just buy land, we build communities with values such as freedom, independence, resilience, transparency, self-sufficiency, and we protect that through who we allow in, because this is our home too.”

As you can see, you’re not dealing with some random real estate broker trying to push whatever’s been sitting on the MLS waiting for the perfect “gringo” buyer.

You’re dealing with a team of people I’m genuinely proud to call partners - people who live in the very communities they build and believe in what they’re creating.

My partners at Veritas approach every project with the mindset of builders, neighbours, and expats who’ve walked this road themselves…. because they have.

They know what it’s like to uproot your life and start fresh in a new country.

They’ve gone through the same immigration paperwork, culture shock, and emotional recalibration that you might be feeling right now.

So, just remember, when you reach out, you’re not just speaking to a salesperson; you’re speaking with people who actually live the lifestyle they help others create.

There is never a bad time to send Andrea an email, by the way.

Even if you aren’t in Panama now or don’t have immediate plans to be in town, you two can chat. If you’re on the same page about what it means to buy, build, and live inside one of the Veritas communities, you could consider scheduling a private tour by sending an email to Andrea here: [email protected].  

The systems that underpin Panama’s banking system are built on the same (if not similarly performing) legal and financial frameworks as the ones you already know.

…they may feel the same, but they are in a league of their own in many regards…

Today, let’s stick with the fundamentals.

Panama’s banking system is dollarized, modern, and conservative by design. 

Every transaction, every escrow arrangement, and every loan is denominated in USD. 

That one fact alone removes a layer of stress that exists in most of Latin America. 

You’re not gambling with exchange rates. 

You buy, you build, you bank, all in the same denomination. 

Banks like Scotiabank, HSBC, and Citibank all operate here under global compliance standards.

You walk in and see the same logos, the same processes, the same forms. 

They follow conservative lending and liquidity rules, which is why you don’t hear about bank failures here the way you do elsewhere. 

Plus, here in Panama, escrow is well, escrow. 

Funds sit in insured accounts, released only when contractual terms are met. 

Everything is traceable, documented, and auditable. 

No mystery fees, no friction, no disappearing wires.

Property rights here are enshrined in law and enforced through an organized national registry (the Registro Público). 

Titles are recorded, searchable, and legally binding. 

Notaries are the backbone of the legal process, and they won’t let a transaction proceed if the paperwork isn’t airtight.

Panama might feel exotic when you first arrive, but once you start doing business here, you’ll be shocked by how familiar it all feels.

It’s the same system you’re used to, just with less bureaucracy and fewer barriers.

When people first come to me about buying land or a home in Panama, their biggest fear is the unknown. 

Which is completely normal, by the way.

It’s normal to imagine a chaotic, stressful process.

Disappearing deposits, contracts in foreign languages and long silences from people they barely know are what people (sadly) associate with purchasing property outside of their home country. 

But when the process is handled correctly, and you’re guided through it A-Z, those fears dissolve early on.

To clarify what to expect when you decide to take the first step toward purchasing property overseas, I have decided it would be helpful to break it down into 6 simple steps. 

Each step is simple, measurable, and, most importantly, familiar.

What you can expect to experience is not all that different from what you’d expect when you secure a new piece of land or home inside Canada or the U.S., for example.

Everything starts with purpose.

You’re not just buying land, an investment property or an off-grid home…  you’re buying an outcome.

Do you want a weekend base in the mountains?

A full-time residence that doubles as your safe haven?

A place to escape to during the winters that can double as an income property while you are not there? 

The answer shapes everything. 

So we start there.

My team and I filter opportunities based on your criteria. 

We only show you projects that fit your long-term plans... and we do this in advance of you even coming to check out the property (which is not necessary by any means, however, it’s what most of the people I work with choose to do, as there is no substitute for “walking the land” before making your decision).  

That means, by the time you arrive, you’re not touring aimlessly…

You are evaluating targeted options.

The next step is to anchor your position legally. 

You’ll meet a bilingual attorney who specializes in international transactions. A professional whose entire practice is built on helping foreign nationals buy and structure property in Panama safely.

You won’t be guessing. 

You’ll be guided.

They’ll outline the timeline, the documents you’ll need, and the exact steps required to close. 

They’ll talk you through the title registry, the escrow process, and the role of the notary.

Every question that’s been nagging at you gets answered, clearly, in English.

You’ll walk out of that first meeting with a clear sense of the process ahead.

…and know that you know that lies ahead, the fear of what’s coming no longer has such a sting to it. 

Next, we move to the agreement, or what’s known here in Panama as the promesa de compraventa (promise to purchase).

This isn’t a back-of-the-napkin deal - it’s a formal, bilingual contract drafted by your attorney.

Every milestone, like deposits, the title transfer, construction phase, or delivery, is written in so there is clarity about the obligations from both parties. 

When you sign, you’re not crossing your fingers. 

You’re authorizing a transaction that’s been legally, financially, and logistically confirmed by professionals who do this every week.

This is the part where most people’s anxiety peaks… and then instantly drops.

Your funds go into a regulated escrow account, managed by a licensed fiduciary bound by Panama’s banking regulator.

That means no money touches the developer’s hands until the agreed-upon conditions are met.

You’ll receive an escrow agreement, wire instructions, and a set of release triggers reviewed by your lawyer.

When you send the wire, it goes into a controlled system with checks and balances designed to protect you.

Each transfer comes with a receipt, reference number, and acknowledgment.

Everything is transparent.

Once you’ve seen this work in real-time (money leaving your home bank, landing safely, and then moving only when the documents are signed), you realize that “offshore” doesn’t mean unregulated.

It means secure, deliberate, and documented.

The closing is where everything becomes tangible.

If you’re here in person, you’ll go to the notary’s office where transactions are witnessed by state officers. 

If you’re abroad, we’ll use a Power of Attorney to represent you. 

Either way, the experience is clean and final.

The notary reviews the deed (escritura publica) line by line, verifies identification, ensures signatures match, and records the transaction.

It’s formal in the best way, and it's all very standard stuff. 

From there, the signed deed goes back to the Registro Publico, where it is logged and entered into the national database.

Within a few weeks, you will receive a certified copy showing your name, which will also be visible in the system to anyone who searches for it.

You did it.

You own land (legally, cleanly, indisputably) in a foreign country.

…and it was made simple for you.

It was familiar… and it was all managed for you.  

It just has to be done right.

And that’s exactly what we do.

You come in thinking “foreign = risky.”

You leave knowing “foreign = freedom.”

What most people fear is being left alone in a process they don’t understand. 

But that’s not what happens here - you’re guided through every step, from the first email to the final title registration. 

You’ve worked your whole life to build something real, and you’re not about to gamble it on a process you don’t understand.

That’s human.

But what I want you to understand is this: the fear is manufactured. 

It exists in the gap between what you imagine and what’s actually true.

Once you see how the system here in Panama really works, that fear fades. 

You’re not leaping into the dark…

…you’re walking down a lit hallway with handrails.

When you’ve lived your whole life under the umbrella of one system, the idea of operating in another feels intimidating. 

However… which is more intimidating?

…navigating a new system with complete expert support or “leaving it to chance” inside of a failing system just because you are already “familiar” with the standard operating procedures?

…unlike at home, you’re not afraid of the system failing…

…you’re afraid of not knowing how to make it work.

Once you see it and experience it for yourself, that anxiety flips quickly into confidence.

…I’ve seen it countless times, and I expect to see it countless more.

To learn more about life inside Veritas, send an email to my lovely partners at [email protected].

Like I mentioned earlier in this newsletter, if, after you’ve spoken with my partners, you want to visit one (or any of the Veritas community sites), we’d love to show you around.

Speak soon,
Mikkel