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Panama Guides
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Panama

A strategic Central American country offering retiree-friendly policies, modern infrastructure, and the famous Panama Canal, making it an attractive destination for expats and investors.

Panama City
Capital
4.4 million
Population
US Dollar (USD) & Balboa (PAB)
Currency
Spanish
Language

Expat Guides for Panama

Essential information organized by category to help you settle in Panama

🎓

Education

Schools & universities

💰

Finance

Banking & taxes

🏥

Healthcare

Medical system

🏠

Housing

Property & rentals

🌟

Lifestyle

Culture & social life

🏙️

Living

Daily essentials

📦

Moving

Relocation tips

💼

Working

Employment guide

📋

Directory

Contacts & resources

🌟Why Choose Panama?

Your Gateway to European Excellence

Discover what makes Panama the perfect destination for your next adventure

✓
Uses US Dollar as official currency
✓
World-renowned Pensionado (retiree) program
✓
Modern healthcare system and infrastructure
✓
Strategic location and Panama Canal
✓
No visa required for many nationalities
✓
Tropical climate with mountain escapes
🌤️

Climate & Weather

Climate Type

Tropical with regional variations

Panama has a tropical climate with two main seasons. The capital and coastal areas are hot and humid year-round, while mountain areas like Boquete enjoy cooler, spring-like temperatures.

☀️Summer Average
24-32°C (75-90°F) varying by elevation
❄️Winter Average
22-30°C (72-86°F) varying by elevation

Seasonal Overview

Dry Season (Summer) (December - April)
Less rainfall, more sunny days. Peak tourist season with higher prices but perfect weather for outdoor activities.
Wet Season (Winter) (May - November)
Daily afternoon showers, lush green landscapes. Lower tourist numbers and prices, but still warm and tropical.
💰

Cost of Living

45/100
Cost Index
Relative to global average45/100

Panama offers good value for money, especially outside Panama City. Costs vary significantly between urban and rural areas, with the capital being most expensive but still affordable compared to North America.

Housing
Varies greatly by location and type
$400-1500/month
Food
Local food very affordable, imported goods more expensive
$300-600/month
Transportation
Public transport cheap, car ownership recommended
$50-150/month
Utilities
Air conditioning increases electricity costs
$80-200/month
Entertainment
Dining out, activities, travel
$150-400/month
Healthcare
Private insurance and medical costs
$100-300/month
💼

Work Culture

Panama's work culture is influenced by both Latin American traditions and international business practices due to the Panama Canal and banking sector. The country serves as a regional hub for many multinational companies.

Working Hours
Monday to Friday, 8 AM - 5 PM
Vacation Days
30 days per year

Key Characteristics

•International business environment
•Growing services and logistics sector
•Regional hub for multinational companies
•Strong banking and financial services
•Generous vacation and holiday benefits
📋

Visa Information

Panama offers some of the world's best visa programs for retirees and investors, including the famous Pensionado visa. Many nationalities can stay 90-180 days visa-free.

Processing Time
2-6 months depending on visa type
Validity
90-180 days tourist, permanent residency options available

Requirements

✓Valid passport (6+ months validity)
✓Proof of funds (varies by visa type)
✓Clean criminal background check
✓Health certificate (for some visas)
✓Proof of income (for residency visas)
🏥

Healthcare System

Mixed public and private system

Panama has excellent healthcare, especially in Panama City, with many US-trained doctors and modern facilities. The country is a popular medical tourism destination.

🛡️
Coverage
Public healthcare available, private insurance recommended for expats

Key Features

✓US-trained doctors and English-speaking staff
✓Modern hospitals with latest technology
✓Medical tourism destination
✓Affordable private healthcare
✓Good dental and cosmetic services
💻

Digital Nomad Friendliness

7/10
Nomad Score
Digital Nomad Friendliness7/10
Internet Speed
25-35+ Mbps in cities
Coworking Spaces
15+

Highlights

•Good internet infrastructure in main cities
•Uses US dollar (no currency conversion)
•Strategic time zone for US business
•Growing expat and digital nomad community
•Short-term visa options available
🧾

Taxes

Territorial tax system - only Panama-sourced income taxed
Top Rate
25% on Panama-sourced income above $50,000
VAT
7% ITBMS (VAT) on most goods and services
Major advantage: Foreign income not taxed in Panama. Pensionado visa holders get additional tax benefits including duty-free imports.
Sources: www.dgi.gob.pa
🗣️

Language & Safety

Language
Spanish
English
Moderate to Good
Safety
Good in expat areas
Holidays
13 national holidays plus regional celebrations
Panama is generally safe, especially in expat communities and tourist areas. Panama City requires normal urban precautions, while places like Boquete and Coronado are very safe.
💳

Payments

Very good, US dollar widely accepted
Common apps: Yappy, PayPal, Nequi
Panama uses the US dollar alongside the Balboa, making transactions easy for American expats. Credit cards widely accepted in cities.
📶

Mobile & Internet

5G Coverage
Good in cities and main towns
Carriers
Cable & Wireless, Claro, Digicel
Good mobile coverage in populated areas. International roaming agreements make it easy for visitors.
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