An easy immigration process, picture perfect beaches, and warm weather make Panama a popular choice…
Location: Central America
Currency: US dollar
Time Zone: GMT -5 (Your 6 pm BJT classes start at 5 am in Panama.)
Population: 4 Million
Internet Speed: Speed Test’s Global Ranking have consistently rated Panamanian internet among the best in Central America and #35 globally with speeds of 77 down and 14 up. Access in Panama City should not be an issue. The remote areas of Panama offer beautiful beaches with amazing surfing and diving. However, very remote areas may be without fiber optic internet service, leaving only slower, less reliable options.
Visa: If you are a retiree with a lifetime income of at least $1,000 USD per month, you can apply for a pensioner visa in Panama. This grants you permanent residency. If you are seeking to move to Panama as a digital nomad and don’t have the required monthly income, you can register a Panamanian company. This requires a cash investment of $5,000 USD with a Panamanian bank. Be aware that there are other visa processing costs in addition to your cash investment.
Healthcare: Panama offers public healthcare, but the waits are often quite long. According to the website Living In Panama, most expats opt for private insurance and receive excellent quality care. For several years now, Panama has been a popular destination for medical tourism. Check out World Nomads for travel insurance.
Cost of Living: If you want to live in Panama City. things can be a bit pricier. Numbeo estimates one-bedroom apartments in Panama City going for just under $900 per month on average. Outside of Panama City, rents can easily be less than half that. We Expats has a great article on the cost of living in Panama and offers Boquete as a lower cost alternative to Panama City.
The information provided in this article is provided purely as a matter of convenience and does not constitute legal or professional advice. Always seek the advice of a qualified immigration attorney before making the decision to relocate.