In Panama, acting as a real estate broker requires a license from the Junta Técnica de Bienes Raíces (JTBR), part of the Ministry of Commerce and Industry (MICI), under Decreto Ley 6 of 1999. To check one, look the broker up in the JTBR's list of licensed brokers (corredores idóneos) on the MICI site, and ask for the license number, which advertising must carry. A license shows the person is authorized to broker; it does not show the property is clean or the deal is safe.
Checked November 2, 2026 against the text of Decreto Ley 6 of 1999 and the MICI and Panamá Digital pages linked in the sources.
The situation
A broker shows you a property, or a project, and everything depends on what they tell you: who the owner is, what is included, how the payment works. Before you rely on them, it is worth a few minutes to confirm that the person is licensed, because Panama treats brokering without a license as an offense.
What the law requires
The rules come from Decreto Ley 6 of July 8, 1999 (Gaceta Oficial 23,837), which regulates the real estate brokerage business. As we read it:
- To work as a broker you need a license from the JTBR. The applicant must pass an exam, post a bond of B/.10,000 that is renewed every year, and pay stamps (B/.25).
- A natural person must be Panamanian, or a foreigner with at least five years of residence in Panama.
- The license has no expiry date, but if the bond lapses the license is suspended and then cancelled.
- Brokering without authorization is punished with a fine of up to B/.10,000; other breaches carry fines between B/.100 and B/.10,000.
- The JTBR's rules require advertisements and signs to show the license number, with a B/.100 fine per non-compliant ad (Resolutions 012 of 2005 and 395 of 2008, as summarized in the sources).
For a company, the Panamá Digital procedure page says the president or legal representative must hold a personal license. A brokerage firm cannot get one without a licensed person behind it.
How to check a broker
- Ask for the license number. It should appear on the broker's ads and signs. If it does not, ask why.
- Look the person up. MICI offers a public lookup of licensed brokers and the JTBR publishes the list of corredores idóneos. Match the full name and the number.
- Ask whether the bond is current. The license depends on it. The JTBR is the place to confirm, and MICI lists its contact numbers on the Panamá Digital page.
- If it is a firm, ask who the licensed person is. Then look that person up the same way.
- Keep a record. Save the ad, the number and the date you checked.
If you find an unlicensed broker or an ad with no number, MICI has a complaints channel; the Panamá Digital page links to it.
What a license does not tell you
- Whether the property is clean. That is in the registry: see how to check who owns a property.
- Whether the seller can sell. A broker is an intermediary. Confirm the owner and any company behind it (how to check a company).
- Whether the advice is free of the broker's own interest. A broker is usually paid by the sale. That is how the business works, and it is a reason to have your own lawyer, not a reason to distrust the broker. See how to check a lawyer.
- Whether a new project is sound. For a builder or a pre-sale, see how to verify a land project and what to verify in a builder.
A short checklist
- Get the license number and the broker's full name.
- Look them up on the JTBR list at MICI.
- Check that the ads and signs carry the number.
- If it is a firm, identify the licensed person behind it.
- Then do the checks a license does not cover: owner, liens, taxes, and the contract. The due diligence guide puts them in order.
How Proper looks at this
Proper does not sell real estate or any property product, and today it does not receive payment from the professionals it refers you to; if that changes, we'll tell you before it affects you. If a broker is part of your purchase, the Clarity Session helps you decide what to check on your own and what to hand to a lawyer.
Sources
Checked November 2, 2026.
- Decreto Ley 6 of July 8, 1999, regulating the real estate brokerage business (Gaceta Oficial 23,837), as published in public copies of the law.
- MICI: lookup of licensed brokers; MICI: list of corredores idóneos (JTBR); MICI real estate portal.
- Panamá Digital: procedure page for the real estate broker license (requirements for companies, bond and contacts).
Please read: this is general information, not legal advice. We read the law as published and the MICI pages cited; the bond amount, fines and requirements can be amended, and we did not verify the current state of any broker. Confirm with the JTBR before you rely on a license.