Santa Sophia is situated on the slopes of the great Volcan Baru, on the outskirts of the beautiful town of Boquete, Chiriqui.

Lying right next to the Volcan National Park presents a unique chance to purchase extremely generous plots of land with incredible views of the Pacific ocean.

Development is due to commence in early 2007. Santa Sophia will become a gated community of 65 lots, plus lesuire facillities and a 72 room hotel.

Boquete has become an extremely sought after area and the chance to purchase land at this extremely resonable price should not be missed.

Our in-house team of architects can assist you in the design of your dream home, with a build to the highest spec, personalized to your requirements.

Santa Sophia Condos

Condominums located on Santa Sophia Premier development, next to the Hotel Santa Sophia.

There will be 30 units with a Moorish design: There will be 5 buildings total; each building consisting of a six-plex with 3 units on the right side and 3 units on the left side, smallest condos measuring 1,687 sq. ft. of total area. Each condo will offer 2 bedrooms and 2 baths all on a single level with open floor plans with spacious open kitchens. All units will have balconies with views towards the Pacific, landscaped with small gardens around the building and they will be wheel chair friendly. Each unit will have a one car covered carport. The condos will be a part of a urbanization and condo owners will have the same access to the facilities of the community.

• We are offering them at $189,000.00 for the first 4 Condos sold. After the first building is built, the price will be subject to change. Price will include the following specs:
• Electrical budget US$1,500.00
• Tile floors & Tile Splashbacks, budget US$10.00 m2.
• Undermount, stainless steel, double sink for kitchen.
• Granite countertops.
• Chinese Oak or equivalent cabinets for kitchen, bath and closets.
• Master bathroom and 2nd bathroom equipped with cabinets, mirrors and shelves. American standard sinks and toilets.
• Jet bath tub and shower combo for Master.
• Brush nickel fixtures throughout (faucets shower/ tub, sinks, handles, towel rods, door knobs, hinges).
• Cedar wood doors & closets
  
• Architrave for doors and windows.
  
• Gas water heaters.
  
• Gypsum ceilings.
  
• Painted throughout.
  
• Kitchen appliances to the value of US$2,500.00.
  

There will be an aprox. of $100/mo fee payable to the Homeowners Association. That fee includes 24 hour security at the entrance with patrolling guards, un-metered water, road and common area maintenance and garbage collection twice a week. Homeowner Committee will decide on what expenses they want which will then be distributed equally for every homeowner.
 

“Santa Sophia, where wellness living begins”

Villas San Juan & Santa Sophia Premier Development
Real Estate and Rental Property Management Program

Real Estate

Our Premier Developments of Villas San Juan and Santa Sophia retains its own team of qualified engineers, architects and construction crews which provides high spec housing in a timely fashion of around 17 weeks from conception to completion. This will allow investors with the opportunity to offer high quality, furnished rental property with an annual rental return on income of between 7.5 to 9.5% (based on an investment of between $145K to $200K and rental incomes of between $1,000 to $2,000 per month), independent of capital appreciation which in Boquete has being in the region of 100% increase per year for the last 2 years. However with appreciation on this scale these golden opportunities will be short lived.

Using your 401K or IRA fund provides a tax free method of financing your investment in Panama. The proceeds from your fund are transferred from Morgan Stanley; for example to Entrust, you form a Panamanian corporation and the shares are held in trust for you by Entrust. There is no tax and no penalties and no 1099 reporting as this is only a transfer. The funds are then transferred to a bank in Panama for you to spend on land or property as you choose, this is not deemed income as it is an investment, therefore there is no tax. The above takes approximately three weeks to complete and is perfectly legal and allowed under U.S. tax laws. All funds received from the rental of your investment are paid to our Rental Program, therefore the corporation will not receive any income and will not loose the benefits provided by Entrust. At this point the property owner can receive his money wherever is best suitable.

Rental Property Management Program

Our property management contract allows us to manage the rental of the corporations. Here are the benefits of our Rental Program:

• It avoids the requirement by the Ministry of Housing to put all security deposits on property leases with them. Getting it back can be difficult if the renter files a complaint. We do not rent property. We are renting a corporation.
  
• Panama law makes it very difficult to get a renter out until as long as 6 months delinquency in payments. Under our contract, if the rent is not paid the property manager can give instructions to not allow the renter access to the property immediately. The renter will have no tenants rights.
  
• Our in-house rental company will rent long or short term for a fee of 15% of rental income. Client responsible for all aspects of furnishings, linen etc.
  

For just under $10,000 you can completely furnish a 2-bedroom/2-bath home with 2400 sq.ft. .  That accounts for all furniture (all hand made), a $1,200 commercial cooking stove, all miscellaneous kitchen items (silverware, dishes, pots, pans, bake ware, hot pads, bowls, serving dishes, etc. etc. etc!); linens, towels, sheets, rags, rugs, TV, paintings, knic-knacs, EVERYTHING that it takes to put a house together.