Panama is a Central American country that has become increasingly popular as a Destination for Expats in recent years. The government has introduced a number of new policies and programs designed to attract expats, such as the Friendly Nations Visa and the Digital Nomad Visa. These visas make it easier for expats to obtain residency and work permits.
Welcoming Visa Policies and other Benefits
In addition to its welcoming visa policies, Panama offers a number of other benefits, placing it on the map as a destination for expats, including:
- A low cost of living: Panama has a relatively low cost of living compared to many other developed countries. This makes it an attractive destination for expats on a budget.
- A stable economy: Panama has a stable economy and a strong currency. This provides peace of mind for expats who are looking to retire or start a business in the country.
- A multicultural society: Panama is a multicultural society with a large expat community. This makes it easy for expats to adjust to life in the country and make new friends.
- A beautiful climate: Panama has a beautiful climate with warm weather year-round. This makes it a great place to live for people who enjoy spending time outdoors.
- Excellent healthcare: Panama has an excellent healthcare system, with both public and private hospitals and clinics. Expats can access high-quality healthcare at a fraction of the cost of many other developed countries.
- Good education system: Panama has a good education system, with both public and private schools. Expats can choose to send their children to schools that teach in Spanish or English.
- Easy access to transportation: Panama has a well-developed transportation system, with buses, taxis, and a metro system in Panama City. Expats can easily get around the country using public transportation, uber or by renting a car.
- Vibrant cultural scene: Panama has a vibrant cultural scene, with a variety of museums, art galleries, and theaters. Expats can enjoy a variety of cultural activities and events throughout the year.
- Low taxes: Panama has a low tax system, with no income tax on income earned outside of the country. This makes it a great place to live for retirees and remote workers.
Newly available Visa and Residency Options
Friendly Nations Visa
The Friendly Nations Visa is a residency visa that is available to citizens of 51 countries, including the United States, Canada, and the United Kingdom. To apply for a Friendly Nations Visa, you must meet the following requirements:
- You must have a valid passport.
- You must have a clean criminal record.
- You must have proof of financial solvency. This can be in the form of a bank statement, employment contract, or pension statement.
- You must pay a visa application fee.
Once you have met all of the requirements, you can apply for the Friendly Nations Visa. The visa application process can take several months, so it is important to start planning early. Reach out for free and personalized information about your immigration process.
Digital Nomad Visa
The Digital Nomad Visa is a new visa that is designed to attract remote workers to Panama. To apply for a Digital Nomad Visa, you must meet the following requirements:
- You must have a valid passport.
- You must have a clean criminal record.
- You must have proof of employment with a company outside of Panama.
- You must have a monthly income of at least $3,000.
- You must pay a visa application fee.
Once you have met all of the requirements, you can apply for the Digital Nomad Visa. The visa application process can take several weeks, so it is also important to start planning early. Reach out for free and personalized information about your immigration process.
Benefits of Living and Working in Panama as an Expat
There are many benefits to living and working in Panama, making it a great Destination for Expats, including:
- A relaxed lifestyle: Panama has a laid-back and relaxed lifestyle, which is perfect for expats who are looking to escape the hustle and bustle of other countries.
- A friendly and welcoming culture: Panamanians are known for being friendly and welcoming people. Expats can expect to be made to feel at home in Panama.
- A variety of activities and attractions: Panama has something to offer everyone, from beautiful beaches and lush rainforests to vibrant cities and charming villages. Expats can enjoy a variety of activities and attractions in Panama, including hiking, swimming, sunbathing, sightseeing, and shopping.
- A growing expat community: There is a growing expat community in Panama, which makes it easy for expats to make friends and connect with other people from all over the world.
Tips on Moving to Panama – A Destination for Expats
- Learn some Spanish: Spanish is the official language of Panama, so it is helpful to learn some basic Spanish before you move. This will help you communicate with locals and find your way around the country.
- Get a local bank account: It is helpful to have a local bank account when you live in Panama. This will make it easier to pay your bills and receive money.
- Find a job or start a business: If you are planning to live in Panama permanently, you will need to find a job or start a business. There are a number of resources available to help expats find jobs and start businesses in Panama.
- Get involved in the expat community: There are a number of expat communities in Panama. Getting involved in an expat community can help you make friends and adjust to life in the country.
Here are some additional tips
- Be prepared for the heat and humidity: Panama has a tropical climate, so it is important to be prepared for the heat and humidity. Wear light, comfortable clothing and drink plenty of water.
- Be aware of your surroundings: Panama is a relatively safe country, but it is important to be aware of your surroundings and take precautions to avoid petty theft. Do not walk alone at night and be careful with your belongings in public places.
- Enjoy the culture and cuisine: Panama has a rich culture and cuisine. Be sure to try some of the local dishes and experience the Panamanian way of life.
Popular places to live in Panama as an Expat
Some of the most popular places to live in Panama as an expat include:
- Panama City: Panama City is the capital of Panama and the largest city in the country. It is a vibrant and cosmopolitan city with a lot to offer expats, including a variety of job opportunities, a good education system, and a variety of cultural and recreational activities.
- Boquete: Boquete is a mountain town located in the Chiriquí province of Panama. It is a popular destination for retirees and expats due to its mild climate, beautiful scenery, and low cost of living.
- Coronado: Coronado is a coastal town located in the province of Panamá Oeste. It is a popular destination for expats who are looking for a relaxed lifestyle and easy access to the beach.
- El Valle de Antón: El Valle de Antón is a small town located in the crater of an extinct volcano. It is a popular destination for expats who are looking for a peaceful and natural environment.
Conclusion on Panama as a Destination for Expats
Panama is a great place to live and work as an expat. It offers a number of benefits, including a low cost of living, a stable economy, a multicultural society, a beautiful climate, and a welcoming culture. If you are considering moving to Panama as an expat, be sure to do your research and plan ahead.