Does Cielo Paraiso have a Homeowners’ Association?
Yes. Cielo Paraiso has developed comprehensive documents in order to clearly define the responsibilities associated to ownership at Cielo Paraiso. The administration of all areas designated for common use will be the responsibility of, and under the governance of, the Cielo Paraiso Homeowners’ Association. Once construction of a residence at Cielo Paraiso has commenced Homeowners’ Association fees of $150/month are applicable. Each owner of a property at Cielo Paraiso is entitled to an equal vote in all matters under the administration of the Homeowners’ Association. The Cielo Paraiso Homeowners’ Association is a private Panamanian corporation. The Board of Directors is elected by the shareholders (property owners) of Cielo Paraiso.
