Why Choose Panama for Relocation?

Panama is a country that offers many benefits for expatriates who want to live, work, or retire in a tropical paradise. Panama stands out among the world’s expat destinations because it offers solid infrastructure and First World amenities close to North America.

And when it comes to value and variety, Panama can’t be beaten. Here, you really get what you pay for, and a little money can buy you a lot of luxury.

Here are some of the reasons why Panama stands out as a relocation destination:

• Lifestyle: Panama has a friendly and welcoming attitude towards foreigners. Panama is a multicultural and diverse country, with a population of over 4 million people, composed of different ethnicities, religions, and backgrounds. Panama is also a safe and peaceful country, with a low crime rate and a democratic government. Panama offers a high quality of life and a low cost of living. Panama offers discounts and benefits for residents, such as 25% off airfare, 25% off restaurants, 50% off entertainment, 25% off electric bills, and more.

• Climate: Panama has a tropical climate, with an average temperature of 27°C, and variations depending on the altitude and the region. Panama has two seasons: the dry season, from December to April, and the rainy season, from May to November. Panama has beautiful beaches, lush forests, and diverse wildlife. Panama also has a natural disaster-free environment, as it is outside the hurricane belt and has no earthquakes or volcanoes.

• Cost of Living: Panama has a low cost of living compared to other countries in the region and the world. Panama uses the US dollar as its official currency, which eliminates the exchange rate risk and makes transactions easier. Panama has affordable prices for housing, food, transportation, health care, and entertainment. According to Numbeo, a website that compares the cost of living in different countries, the cost of living in Panama is 48.30% lower than in the United States.
  

• Health Care: Panama has a good health care system, with public and private hospitals and clinics. Panama has well-trained and qualified doctors, many of whom speak English and have studied abroad. Panama has modern equipment and facilities, and offers a wide range of medical services, from preventive care to specialized treatments. Panama also has a low cost of health care, compared to other countries in the region and the world. According to the International Living Annual Global Retirement Index 2023, Panama ranks 6th in the world for health care, with a score of 92 out of 100.

• Favorable Tax System: Panama has a favorable tax system for expatriates who want to save money and protect their assets. Panama is a tax haven, meaning that it does not tax foreign income, capital gains, or inheritance. Panama also has a territorial tax system, meaning that it only taxes income generated within Panama. Panama also has many tax treaties and incentives for foreign investors and businesses. Panama also has no currency or exchange controls, nor a central bank.According to the Numbeo Quality of Life Index 2023, Panama ranks 38th in the world for quality of life, with a score of 116.71 out of 240.

• Flexible Residency Programs: Panama has flexible and accessible residency programs for expatriates who want to obtain permanent residency and citizenship by investment. Panama has several options for obtaining permanent residency and citizenship, such as the Pensionado Visa, the Friendly Nations Visa, the Forestry Investor Visa, and the Qualified Investor Visa. Panama has low requirements and costs for these visas, and offers fast and easy processing times. Panama also allows dual citizenship and does not require physical presence or language proficiency.

Panama is a great country to live, work, and retire in. Panama offers many benefits for expatriates who want to obtain permanent residency and citizenship by investment. Panama has a variety of residency programs that suit different needs and goals. Panama also has a favorable tax system, a high quality of life, and a flexible residency program that allows dual citizenship.