A new step forward in protecting co-owners and residents of PH
The National Assembly of Panama is evaluating a legislative proposal aimed at regulating the activity of horizontal property (PH) administrators, establishing minimum requirements that individuals must meet in order to perform these functions.
What is the initiative seeking?
- License and Registry: A Technical Board of Horizontal Property Administrators would be established, responsible for approving the issuance of licenses and maintaining a registry of qualified administrators. Current administrators would be given a period of 18 months to obtain the corresponding license.
- License Requirements: Anyone wishing to practice as a PH Administrator must file an application before the Technical Board, provide a bond of USD $10,000, and pass a basic knowledge exam on the PH regime. Individuals with more than 10 years of proven experience in PH administration may be exempt from the exam requirement.
- Ongoing Training: PH administrators will be required to provide continuous training to their staff on legal, accounting, and operational matters.
- Code of Ethics: A Code of Ethics will be issued and must be observed by PH administrators. Non-compliance may result in the suspension or cancellation of their license.
What’s next?
The initiative, currently identified as Bill No. 310 for the 2025–2026 legislative period, was introduced by the Honorable Deputy Grace Hernández and has already been endorsed, meaning it will soon move to the first debate before the Public Infrastructure and Canal Affairs Committee.
At SUCRE ARIAS REYES, we closely monitor the progress of this bill and offer specialized advice to creditor companies, collection agencies, and consumers seeking to understand and apply the new regulatory framework. We are ready to help you adapt to the upcoming legal transformations.
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