To sell, transfer, lease, or carry out certain procedures involving real estate located within the
Colón Free Zone, it is mandatory to obtain prior authorization from its Administration.
This requirement, established by the special regulations governing the Free Zone, applies to multiple real estate transactions, and failure to comply may delay, object to, or even invalidate a transaction, even when there is agreement between the parties.
When Is Authorization from the Colón Free Zone Required?
Prior authorization is required, among other cases, when intending to:
- Sell or transfer properties within the Free Zone
- Assign rights over land or buildings
- Make changes to the ownership of the property
- Execute transactions related to corporations operating in the Free Zone
This applies to both individuals and corporations, including those with foreign investment or engaged in
commercial and logistics activities.
Properties in the Free Zone and Their Special Legal Regime
Land and properties located within the Colón Free Zone are not governed solely by general law. As a special legal regime, any real estate transaction must comply with additional administrative requirements, with Free Zone authorization being one of the most significant.
Ignoring this step may result in:
- Administrative objections
- Suspension of the sale or transfer process
- Significant delays in real estate closings
- Fines or penalties
- Loss of commercial opportunities
Free Zone Authorization and Corporations in Colón
In many cases, properties are registered in the name of corporations formed to
operate within the Free Zone. In this context, it is essential to review:
- The corporation’s legal structure
- Compliance with its legal obligations
- The existence of a resident agent in Colón
If you do not have a resident agent in Colón, the corporation may face legal limitations that directly affect approval of the authorization before the Free Zone Administration.
How Does Specialized Legal Advice Help?
Proper legal counsel allows you to:
- Verify whether Free Zone authorization is required
- Determine the type of procedure applicable to the transaction
- Properly manage the application before the Administration
- Avoid objections, administrative delays, and penalties
- Ensure the legal viability of the transaction
This support is essential for those seeking to invest in, sell, or transfer properties in the Colón Free Zone with legal certainty.
Legal Advisory Services in the Colón Free Zone
At Coronell, Lam & Asociados, we provide comprehensive legal advisory services for operations related to:
- Properties in the Colón Free Zone
- Real estate transfers and sales
- Corporations and resident agent services
- Regularization of procedures before the Free Zone Administration
- Prevention of legal and administrative contingencies
Our approach is preventive and strategic, aimed at protecting your investment and facilitating clear and efficient processes.
Are you planning to sell or transfer a property in the Colón Free Zone?
Contact us for specialized legal advice and ensure your process is handled correctly from the outset.
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