Moving to Panama is possible by obtaining Panamanian residency . You can live in a tropical paradise with unique tax advantages, provided you obtain a residence permit. Moving to Panama is simple and convenient, considering the standardized procedure, the overall cost/burden, and proof of financial solvency.

The country has a cost of living proportionate to its standard of living and an exceptional quality of life. For frequently asked questions about traveling to Panama, the Panamanian Migration Office clarifies that entry requires a valid passport and, for tourists, a minimum of $500 as proof of financial resources.

Moving to Panama means joining a particularly large expat community. Panama has one of the highest rates of foreign residents per 100,000 inhabitants in the world. This provides unique opportunities for those seeking a new lifestyle without the hassle of adapting to a new culture. Becoming a digital nomad in Panama, by applying for Panamanian residency and submitting appropriate tax documentation, allows you to work in a tax-friendly environment, surrounded by beaches and innovation.

Panama attracts expats who have chosen the country to start a second life, whether as a retiree or retired rentier, as an investor, a digital nomad, or simply as an expat looking for a new home. A move and expatriation to Panama requires obtaining temporary or permanent residency in Panama. Italians can easily request and obtain relocation to Panama through the Panama-Italy friendship treaty or convention.

Panama offers many ways to relocate, but Italians are advised to move to Panama only via the Panama-Italy agreement, explained on the Procedures and Visas for Panama . Some Panamanian residence visas, such as those obtained through the Panama Friendly Nation Visa, a friendly treaty between Panama and 50 countries known as friends of Panama, do not apply to Italy, which is fortunate to have its own, cheaper and faster process through the Panama-Italy Agreement.

The full name of the treaty is: Convention on Commerce and Navigation between the Republic of Panama and the Italian Republic, amicably known and referred to as the Panama-Italy Friendship Treaty. Remember that Panama is a safe haven for hiding and protecting your wealth in difficult times like the ones we are experiencing today. But you can move to Panama for any other reason:

• Work in Panama: Working in Panama is easy. Finding work in Panama is a very quick process. In a country experiencing tremendous growth and a rapidly growing middle class, settling down and finding the job you want in Panama is generally easier than anywhere else in Latin America.

• Living in Central America: Panama is a country in Central America. Living in Central America offers the unique advantage of being equidistant from North and South America, from the Caribbean to the Atlantic, thus allowing you to travel both by air and land quickly and at low cost.

• Taxes in Panama: Taxes in Panama are simple. Taxes are zero in Panama if you earn your income abroad, like any expat who moves to live in Panama. But if, as an expat in Panama, you decide to work within Panama, you'll enjoy a favorable tax regime among the best in the world. Panama, being a tax haven, still offers unique tax advantages.

• Panama's Tax Haven: The country is both a tropical paradise and a vast tax haven. Panama is considered a multipolar tax haven because it offers both core services such as offshore bank accounts, offshore companies, international banking assets, private foundations, trusts, and a 7% VAT, as well as territorial taxation for all expats and companies relocating there.

How to Move to Live and Work in Panama

For many, moving to Panama represents a true Plan B in their lifetime. It's not just a choice to emigrate, but a concrete form of personal and financial insurance, useful when you feel the risk of losing your freedom of movement, economic stability, or fiscal independence. Moving to Panama means doing so both personally and financially, planning your future well in advance.

Expatriating to Panama therefore becomes a strategic decision even for those who have no legal, fiscal, or financial problems in their home country. More and more people feel the need to organize their lives in a more free and resilient way, obtaining a second residence in a stable country like Panama, while it is still possible to do so at advantageous conditions. Many expats choose to move to Panama even many years before their actual move, precisely to secure their future options.

The reason is simple: no one can guarantee that in 10 or 20 years it will still be possible to move to Panama through the Panama-Italy Treaty, or that current regulations will remain unchanged. Moving to Panama actually involves a transfer of residence to Panama, and international residency services are among the most sought-after today, due to global economic and social instability. More and more people are seeking "easy" countries to transfer their residence to, and this has led to a general tightening of immigration rules across much of the world.

Panama is no exception. Many residency programs have been made more complex or expensive. A clear example is the Panama Friendly Nations Visa, which no longer provides immediate permanent residency, but rather temporary residency that must be renewed, with financial requirements increased to a capped USD 200,000. For many expats, this risk is simply unacceptable.

For Italians, however, the situation is different. Thanks to the Panama-Italy Treaty, moving to Panama is still simple, quick, and affordable. All you need is a $5,000 deposit, which can be recovered immediately after obtaining residency, and a few days of on-site processing. With proper procedures, transferring residency to Panama is truly within the reach of anyone who wants to secure their future.

For this reason, we recommend moving to Panama today, without delay. It's not necessary to live in the country immediately. The process can be started from the comfort of your home and doesn't require an immediate physical move. The actual transfer to Panama, both personal and fiscal, can take place in future years, whenever you deem it appropriate.

In the meantime, you'll have something fundamental: a real Plan B, a concrete exit route, and legal and personal security already in place. In other words, the peace of mind of knowing that, whatever happens, you have Panama in your pocket.

Moving to Panama as a Plan B in Life

To move to Panama, you must obtain residency. Residency in Panama can also become tax residency in Panama when you meet the legal requirement of staying in the country for at least 183 days per year or register with the Italian Embassy in Panama. The application to move to Panama begins from your home in Italy. The first step, without a doubt, is to apply remotely to open a Panamanian company, a prerequisite for subsequently applying to move to Panama. The Panamanian company opening is done remotely from your home with us, approximately 40-45 days before flying to Panama to apply for residency.

General information about Panama

The Republic of Panama is a country located in southeastern Central America, on the Isthmus of Panama that connects South America with Central America. It borders the Caribbean Sea to the north, the Pacific Ocean to the south, Colombia to the east, and Costa Rica to the west. Its mountainous terrain is interrupted only by the Panama Canal, which connects the Pacific Ocean to the Caribbean.

It has a population of over 4 million, half of which live in the metropolitan area of ​​its capital, Panama City. Its official language is Spanish. Its legal tender currencies are the U.S. dollar (USD) and the Panamanian balboa (PAB), which is pegged 1:1 to the dollar.

Its economy is the most stable in Latin America. Its main economic activities are finance, forex, banking, hedge fund creation, offshore company incorporation, asset protection, medical tourism, wills and international life and death insurance, tourism, logistics services, and, to a lesser extent, agriculture and livestock. Regarding its primary sector, most of its agricultural production is destined for export. Its main crops are sugarcane, bananas, rice, corn, coffee, and tomatoes. Panama also exports a wide variety of timber, of which mahogany is one of its specialties.

Its transportation and logistics services conglomerate is geared toward global trade, centered around the Panama Canal, home to container transshipment ports, free trade zones, railways, and Latin America's largest passenger air hub.

Tourism is one of its main industries, with over 2 million visitors annually, primarily for business, trade, and its beaches. Most of its tourists come from the United States, Canada, Europe, Central America, and South America.

Panama is the offshore financial center of the Americas

Moving to Panama means moving to a major financial center. The jurisdiction is also the largest financial center in Latin America. Offshore companies enjoy benefits such as access to comprehensive banking and financial services, confidentiality, free movement of capital, and complete tax exemption, provided they conduct business exclusively outside the territory.

Other common legal entities are private interest foundations, which are completely tax-exempt and commonly used as holding entities, for asset protection (tangible or intangible), confidentiality and privacy, estate planning, tax planning, or philanthropic purposes. To move to Panama, you must apply for a suitable relocation program. Panama also offers several residency programs for entrepreneurs, investors, and retirees.

At Studio Panama Italia, we're here to help you through every stage of your internationalization and structuring plans, and we're constantly searching for the best global options and locations to increase your privacy, freedom, and wealth.

The Panama Canal is one of the world's most important infrastructure projects, a feat of engineering that connects the Atlantic Ocean with the Pacific Ocean across the Isthmus of Panama. Opened in 1914, the canal is approximately 82 km long and accommodates the transit of over 14,000 ships each year, making it a strategic key to global trade.

Thanks to its unique geographic location, the canal significantly reduces navigation times between the East and West Coasts of the United States, as well as connecting Asian and European markets. Each year, the Panama Canal generates revenues of approximately $2 billion , with an economic impact that extends far beyond the maritime sector alone, contributing significantly to the Panamanian economy.

In recent months, statements by former US President Donald Trump have caused an international stir. Trump expressed the opinion that the United States should reclaim ownership of the Panama Canal, asserting that management should return to US control. However, these statements ignore some fundamental facts:

1. Return of the Canal to Panama : The Panama Canal was returned to the nation of Panama on December 31, 1999, in accordance with the Torrijos-Carter Accords signed in 1977. These treaties granted complete sovereignty of the canal to the government of Panama, a historic event that ended nearly a century of U.S. management.
2. Independence and Sovereignty : Panama has invested heavily in improving and modernizing the canal, including the construction of the expansion that opened in 2016. This new infrastructure allows the passage of Neo-Panamax , increasing the canal's capacity and generating revenue. Any attempt to regain control would be a violation of international law and would jeopardize diplomatic relations between the United States and Panama.

3. Strategic Importance for Global Trade : The Panama Canal is not only a national symbol for Panamanians, but also a vital component of the global economy. Its management is considered a model of efficiency and transparency, ensuring neutrality and equal access for all nations.

Trump's ideas are politically unsound and unworkable. Panama has demonstrated exemplary management of the canal, transforming it into an economic engine not only for the country but also for the entire Western Hemisphere. Furthermore, the international community firmly supports Panamanian sovereignty over the canal, making any change of control not only unlikely, but virtually impossible.

Conclusion

The Panama Canal continues to be one of the world's most influential infrastructure projects, a symbol of progress and independence for the country. While certain political statements may attract media attention, the reality is that the canal will remain the sovereign property of Panama, a nation that has made it a model of success and economic growth.

Moving to Panama with a regular residence permit has many positive aspects:

• Allows you to apply for Panamanian citizenship after five years
• The process is inexpensive and simple Panama only requires a small bank deposit to qualify and opening a business is affordable
• There are no minimum income requirements
• It is not necessary to move to Panama to maintain residency
• Panama speaks Spanish, an easy language to learn.
• The country's economy is constantly growing
• It allows you to take advantage of territorial taxation
• It allows you to take advantage of zero taxes and duties with the rest of the world
• It allows you to take advantage of TiEAS.

Panama is a safe and secure destination for investments, capital protection, banking and corporate affairs, business, and retirement. There has never been a better time to emigrate to Panama. After the social failure of the European project and amid the social and economic crisis in the United States and the West as a whole, Panama remains the only healthy and secure option for all Europeans, Italians, North Americans, and Brazilians seeking a secure place in Latin America.

Panama has become the number one destination for Italians and Brazilians. Since 2020, Brazilians have been the second largest group of economic migrants in Panama, after Italians. North Americans have historically been based in Panama, which they choose en masse every year. Moving to live and work in Panama is now the choice made by one in three expats who decide to move to Latin America.

FAQ

Working in Panama by obtaining a regular work permit:

• It allows you to work legally and not be expelled for illegal work
• The process of obtaining a work permit in Panama is simple and only requires paying for its acquisition to qualify as a legal worker in the country.
• The work permit is requested after having taken up residence in Panama.

Work permit in Panama: what work can I do in Panama as a resident?

Panama is a country of entrepreneurs and businesses, corporations and banks. This is to clarify: if you want to work in Panama, you can either come as a company, a startup, an investor, or an entrepreneur. You cannot work as a resident, even if you have a valid residence and work permit, or as a professional with a degree in medicine, law, or engineering, except as an employee under certain conditions. Therefore, the jobs you can take are essentially those of an office worker, not a manager, unless you are a citizen.

The Panama work permit allows you to work as an employee, often unqualified for any type of job other than his or her intended role as a boss, manager, or director in the medical, pharmaceutical, legal, and engineering fields, among other fields.

These positions are reserved for citizens of the country only. Panama offers normal salaries, sometimes even low employee wages, which, combined with the high cost of living, makes it not the ideal destination for those seeking a life-changing move without being an entrepreneur or having significant capital to do so. In these circumstances, lacking capital, inventiveness, dynamism, or a business plan, our advice is to take up residency in Paraguay.

Moving to Panama: Pros and Cons

Moving to Panama today represents one of the most solid plan Bs for those wishing to safeguard their personal, financial, and fiscal freedom. For many expats, living in Panama isn't an escape, but a strategic choice to secure their future. Moving to Panama means planning both your personal and fiscal transition in advance, establishing a second international residence in a stable and accessible country.

Expatriating to Panama is increasingly a conscious decision, even for those without any legal, tax, or financial problems in their home country. Many European professionals, entrepreneurs, and expats choose Panama as a relocation destination to build a freer, more flexible, and more secure future. Obtaining residency in Panama today allows you to secure a concrete second option, without the immediate obligation to live in the country.

More and more people are deciding to move to Panama many years before actually moving. The reason is simple: no one knows whether in 10 or 20 years it will still be possible to obtain Panamanian residency through the Panama-Italy Treaty, or whether the current requirements will remain unchanged. Transferring residency to Panama is therefore a preventive, not a reactive, decision.

In recent years, global demand for international residency has grown dramatically. More and more expats are seeking "easy" countries to move to and live in, and this has led to a general tightening of immigration regulations worldwide. Panama has also made many expat residency programs more complex, such as the Panama Friendly Nations Visa, which now requires significantly higher financial requirements and requires temporary residency renewals.

What is life like in Panama?

What's it like to live in Panama? Panama is a transcontinental nation located between Central and South America. It borders Costa Rica, the last Central American nation, to the north, and Colombia, the first South American nation, to the south. Living in Panama can be a very different experience depending on your personal expectations, lifestyle, and ability to adapt.

Climate is one of the main factors to consider when deciding to move to Panama. The country has a hot, humid tropical climate for about 9–10 months of the year. This means that rainfall is frequent and often intense for much of the year. Tropical rainfall in Panama is generally torrential, but concentrated in periods lasting from 2 to 5–6 hours a day. For those wishing to live in Panama permanently, climate adaptability is a key factor.

Many imagine Panama as a Caribbean paradise similar to Cancun, where there's little rain and constant sunshine. In reality, Panama isn't Cancun. It's part of a vast tropical area that includes Costa Rica, Nicaragua, Colombia, Ecuador, Peru, and part of Chile, characterized by high humidity, seasonal rains, and high temperatures. During the rainiest months, temperatures often exceed 30 degrees Celsius (86 degrees Fahrenheit) and humidity levels exceed 90%. Gray skies and heavy rain are normal during certain times of the year.

It must be said, however, that a large portion of those who choose Panama as an expatriate destination do not do so to live there year-round. Approximately 9 out of 10 people use Panama primarily for tax, banking, and international residency purposes, without spending long periods in the country. Many expats, after obtaining residency in Panama, choose to live in cheaper and more climate-stable countries, such as Mexico—particularly Playa del Carmen—enjoying the sun, sea, and lower living costs, while maintaining Panama as their fiscal and financial base.

Panama is expensive

The cost of living is one of the main drawbacks of moving to Panama. Panama City is decidedly expensive. It is, however, a small country with a strong financial and fiscal vocation, largely dependent on foreign capital, as well as revenues from the Panama Canal. This has created an ecosystem of bankers, lawyers, law firms and notaries, multinationals, large corporations, and international investors, all of which drive the cost of living higher.

Another factor affecting the cost of living in Panama is the use of the US dollar as the official currency. Furthermore, almost 100% of consumer goods are imported. This results in higher prices than in other Latin American countries: many products cost up to 50% more than in Mexico and about 30% more than in Colombia, due to import taxes. Restaurants, bars, and services are often geared towards a high-income clientele, with prices that can sometimes be double or triple those in major European cities like Milan. Paying $6 for a cappuccino in Panama is not uncommon.

Expensive rents in Panama

Another critical aspect of living in Panama is the cost of rent. Rents in Panama City, even in merely decent areas by European standards, average between $800 and $1,000 per month and can rise rapidly in the more central or sought-after areas. For this reason, many consider Panama primarily as a fiscal and financial expatriation destination, transferring their residence, bank accounts, and assets, but choosing to live in cheaper countries.

Among the most popular alternatives are Cancun and Playa del Carmen in Mexico, Cali and Medellín in Colombia, Quito and Cuenca in Ecuador, Lima in Peru, and Asunción and Luque in Paraguay. Paraguay in particular represents an attractive option for those seeking tax residency similar to Panama, but with much lower living costs, often even lower than those in Mexico.

Those who truly dream of moving to Panama are unlikely to be deterred by these statistics. Living and working in Panama can represent a significant opportunity for personal, cultural, and economic growth for many. However, for others, the combination of the high cost of living and the Latin lifestyle—characterized by a strong social life and frequent eating out—can become a financial and emotional burden, especially for those accustomed to cooking at home, a practice less common in much of Latin America.

Panama's "mañana attitude"

An element often overlooked by those who decide to move to Panama is the so-called "mañana attitude." Despite its modern image of skyscrapers, banks, and advanced infrastructure, Panama retains a profoundly Latin American mentality when it comes to time management. Anything that isn't considered urgent or vital tends to be postponed.

In Panama, "mañana" doesn't necessarily mean tomorrow. It can mean a few days, weeks, or even months from now, with no specific timeframe being given. Missed appointments and delays of 40 minutes or more are considered normal. This approach can make daily life difficult for many European expats, accustomed to punctuality and meeting deadlines.

For this reason, many foreigners choose to use Panama exclusively as a tax and banking base, avoiding permanent residence. Others, however, find a compromise by adapting to a more flexible lifestyle, accepting a different perception of time and commitments.

Those seeking sun, a warm climate, and Latin culture, but craving greater precision and time management, often prefer Mexico, which has integrated greater organization into its culture, thanks in part to its proximity to the United States. Paraguay, in some ways, also offers more structured time management than Panama.

From a healthcare perspective, living in Panama offers significant advantages. The country boasts modern, high-tech clinics and specialists trained in the United States and Europe. Panama's private healthcare system is considered among the best in Latin America, with multilingual staff and high standards, representing a strong point for those seriously considering expatriation in Panama.

What is the best time and season to visit Panama?

For Europeans, there's no better time or season than winter in Europe to visit Panama. The simple act of being able to leave the cold and gloomy winters of Europe behind for a tourist and residential trip to a tropical and consistently warm country is always worth it.

In fact, the best season in Panama is also from December-January to April-May, so for those who want to take up residence in Panama, for those who want to travel to Panama to understand how it is lived, for those who want to learn about living and working in Panama, the best time to organize a trip to Panama is from December to the end of May.

Traveling to Panama requires few precautions. In fact, traveling to Panama poses no risk whatsoever, regardless of the circumstances. Traveling to Panama does not expose you to the risk of tropical diseases. Panama is a completely safe country, with clean drinking water available in every home, hotel, and hostel in the country.

Traveling to Panama doesn't expose you to the risk of malaria or other life-threatening diseases. A trip to Panama is the perfect opportunity to quickly and easily obtain residency in Panama and open a bank account with banking secrecy on the go

What are the pros and cons of moving to live in Panama?

What are the pros and cons of living in Panama? Traveling to Panama with your family or moving to Panama with your family doesn't present any real complications. Panama is a very easy country to adapt to, often too simple at times, and therefore it's quick and painless for a European to adapt, taking into account the potential complications outlined above.

Whether you want to live in Panama as a retiree, investor, or worker, the country offers the certainties you are looking for, as long as you get legal residency in advance.

How much does it cost to move to Panama?

Living in Panama costs an average of around $3,000 per month for a single person living in Panama City, but renting in a non-central area. This cost includes room and board and transportation. The closer you get to the central areas, the cost of living increases. If you decide to live and rent on Avenida Balboa, for example, your monthly cost of living in Panama should be around $4,500 per person.

Panama Security: Is Panama a safe country?

When moving to Panama, many people naturally have concerns about the country's safety. Is moving to Panama safe? Yes, Panama is a completely safe and pleasant country to visit, whether you're traveling alone or with your family. The country's strong economy and prosperous city offer excellent social security, guaranteeing its citizens and foreign visitors complete physical and financial security.

How many Italians live in Panama?

According to Panama Migration, there are currently over 150,000 Italians residing in Panama. According to the AIRE office, where registration is optional and at the applicant's discretion, there are approximately 28,000 Italians formally resident in Panama.

How much money does it take to move to live in Panama?

To move to Panama, as with any other country, you need to budget for 12 consecutive months without employment, using your own savings. Considering airfare for one person and 12 months' rent, expenses such as electricity, gas, internet, TV, and public transportation/UBER, moving to Panama costs approximately USD 32,000.00 (thirty-two thousand dollars).

How much do you need to earn to live decently in Panama?

Panama is an expensive country, and as a result, it attracts only the wealthy or well-off. The country is shaped by the needs of tourists, future residents, and entrepreneurs. For this reason, to live decently in Panama, a single person should earn at least $5,500 a month, and a family of three should have an income of around $12,500 a month.

How do you become a permanent resident of Panama?

To become a permanent resident of Panama, Italians must execute the Panama-Italy Treaty through a law firm like ours. You can read carefully how to become a resident of Panama and how to apply for residency in Panama here.

What is it like to live in Panama?

Panama has a very high standard of living (and therefore also very high costs), it has a high average life expectancy and among the highest salaries in the region, despite being a country that welcomes everyone, the country has oriented itself towards attracting capital and people with very strong purchasing power and large wallets, so shops and restaurants will be oriented towards that target of spending and lifestyle which can be very expensive for those who cannot afford a certain type of lifestyle.

In cases like these, our advice is to opt for residency in Paraguay , which offers the same tax benefits but, if you wish to live there, is among the cheapest countries in the world.

How can I contact the Italian Embassy in Panama?

The Italian Embassy in Panama is located in PH PLAZA 58, Calle 58 Este con Avenida Ricardo Arango, Obarrio – Panama and you can contact them by phone: 005072258948 / 005072258949 and on the website here .

How do Italian retirees live in Panama?

Moving to Panama as a retiree has only positives. The country offers an excellent quality of life for retirees. Retirees in Panama enjoy an excellent quality of life thanks to the numerous benefits that come with residency in Panama.

• 50% discount on entertainment (cinema, sporting events, music, theater, etc.)
• 35% discount on transportation (cruises, ferries, metro, etc.)
• 25% discount on airline tickets
• 50% discount on hotels
• 20% discount on medicines not covered by health insurance
• 20% discount on professional services

Additionally, you can enjoy duty-free access to household items up to a value of $10,000.

Is Panama a good country for Italian digital nomads to relocate to?

Yes, Panama, thanks to its very famous tax residency for digital nomads and its territorial taxation, as well as its infrastructure, fast and close air connections to any country in the Americas, and the fastest high-speed Internet in all the Americas, is an excellent homeland for digital nomads.

How much does a flight from Italy to Panama cost?

A flight from Italy to Panama costs between $550 and $1,800 depending on the season. It's important to book your flight to Panama at least four to six months in advance, as flights fill up quickly and hotels are often booked months in advance.

What do you need to move to live and work in Panama?

To move to live and work in Panama, you need to obtain permanent residency through the Panama-Italy Treaty. 

How much does it cost to buy a house in Panama?

On average, prices are around USD 1,850/m2 for central areas and around USD 1,100/m2 in non-central areas of the city. In the rest of the country, costs range between USD 850 and USD 500/m2.

How much does it cost to rent a property/apartment/house in Panama today in 2022/2023?

Rental prices in Panama for the years 2022 and 2023 range from 1600 USD on average for 122/mt2 to 3200 USD/122mt2 in central areas and around 700/950 USD for the same square meters of 122mt2 in more decentralized areas, with fewer m2 the price drops very little in the center, and consequently for a single person looking for a 50m2 loft in the center the costs are similar at around 1350 USD.

What is the minimum age for residency in Panama?

You can apply for residency in Panama at any age, whether you're an adult or not. Minors require a guardian/parent to apply for residency for them and the minor as dependents and to demonstrate parental authority.

Which law firms should I rely on to obtain residency in Panama?

There are a multitude of options for obtaining residency in Panama, but unfortunately, we cannot know which options, often attractive in terms of prices, are actually valid. As for us, StudioPanamaItalia, our history, our references, and our company, which offers the only satisfaction or refund option in Panama, we guarantee 100% that you will obtain residency in just 3 or 4 days.

Book your Panama residency by contacting us at info@studiopanamaitalia.com

Other possible residence permits in other countries that may be of interest to you are:

• Paraguay Residence Visa : It has the exact same features as Panama and we offer an excellent discount package for this year.
• Residence visa in Uruguay : a dynamic, small country, where you can move easily, but where you will have to live for a certain period
• Residency Visa in Mexico : the North American giant, neighbor of the USA, where you can easily obtain residency and citizenship
• Residency visa in Chile : The most modern country in Latin America, pretentious and with a Mediterranean climate, good wine awaits you
• Residence Visa in Ecuador : Perhaps the most underrated of countries, it is invaded by North Americans, Canadians and Swiss who love it

Moving to Panama is an excellent choice for those who want to invest their time in business, investment, and financial growth. For everything else, you can combine Panama with another nearby destination to live part of the year. Contact us to find the best solution for you and your family. Book a professional consultation to help you make a serious and definitive decision.

What's the entertainment and nightlife like in Panama? Where should you go for fun in Panama?

Panama has a lot to offer if you're looking for fun. Many travel to Panama to have fun, go clubbing, meet new people, interact with other cultures, or simply "have a good time," as they say. From restaurants to Panama's nightlife, with discos, nightclubs, casinos, and more, Panama has an exceptional nightlife scene.

What are the best nightlife experiences in Panama City?

The best places to visit at night are:

Casco Viejo, where you can stroll or eat at the area's traditional restaurants. Casa Casco, Panama Bar Crawl, Chupito 507, Wahaka Party, and La Rana Dorada, an excellent beer bar, are all trendy spots offering great nightlife in Panama.

What are the best casinos in Panama?

Panaviera at Ocean Sun Casino, Ocean Sun Casino, Sortis Casino, Starbay Casino, Royal Casino, Princess Casino, Crown Casino el Panama, Majestic Casino

If you want to make a living by investing in Panama, you can count on a highly qualified investment country. Investing in Panama allows you, first and foremost, to invest in US dollars (USD).

Owning investments, such as hard assets such as real estate in Panama listed in dollars, allows you to invest in Panama without the worry of seeing your invested capital fluctuate due to a weak currency as happens in Colombia (COP, Colombian Peso) or Brazil (BRL, Brazilian Real), to name a few.

Investing in Panama also guarantees easy access to the quick-sales market, as everyone comes to Panama to invest in dollars and speculate on investments. Buying and selling in a few months with significant capital gains is quite common in this country, which attracts capital flight from all over the world. Investing in Panama doesn't necessarily require you to be a resident. Investing in Panama is legally possible for tourists and you enjoy the same rights as a foreign resident or Panamanian citizen.

But how to invest in Panama?

Investing in real estate in Panama is one of the most popular strategies among foreign investors and expats seeking legal stability, the use of the US dollar, and attractive returns on Latin American real estate. Buying a house in Panama, purchasing real estate in Panama, or investing in apartments in Panama is perfectly legal, even for non-resident foreigners, and enjoys virtually identical rights to those enjoyed by Panamanian citizens.

The Panamanian real estate market is open to foreign investment. Those wishing to invest in Panama's real estate sector can purchase houses, apartments, condominiums, commercial properties, or land without any particular restrictions. Buying property in Panama does not require residency or residency in the country. For this reason, Panama is often used as an international real estate investment hub.

Buying real estate in Panama as an individual or company

Those who decide to invest in Panamanian real estate can do so as an individual or through a Panamanian company. Purchasing through a company is often used for estate planning, asset protection, and efficient succession management. In both cases, ownership rights are fully recognized.

Many foreign investors choose to purchase real estate in Panama in the name of a company, especially when their goal is to rent out a home in Panama or build a real estate investment portfolio. This structure allows for greater flexibility in managing and selling the property in the future.

Investing in apartments for rent in Panama

Renting a home in Panama is one of the most common ways to monetize a real estate investment. Panama City, in particular, offers a dynamic market for apartment rentals in Panama, both long-term and temporary. Modern apartments in central or business-oriented areas are highly sought after by managers, diplomats, expats, and international workers.

Investing in apartments in Panama for rent can generate attractive returns, but it's essential to carefully consider operating costs, condominium fees, and the area's real demand. Not all areas offer the same rental potential, and an incorrect valuation can drastically reduce the profitability of your Panama real estate investment.

The process for purchasing property in Panama guarantees success and investment security. This property purchase process also applies to renting property in Panama.

Many people, once they have obtained a Panamanian residence permit, wish they could actually live in Panama, fascinated by the city's beautiful residential areas. Panama City has much to offer: extensive green spaces, exceptional infrastructure, incredible properties for investment or simply to live in while enjoying the breathtaking views from the top of its glass towers.

Living in Panama therefore requires that you own a property once you've moved in, whether you own it or rent it. Let's see how to buy a property in Panama. Panama allows everyone, residents and non-residents alike, to invest in real estate. Panama's real estate is the leading real estate sector in Latin America, and for good reason: Panama's real estate has the highest and most guaranteed ROI (Return on Investment) in Latin America. So let's find out together how to invest in Panama's real estate.

Real estate in Panama doesn't necessarily have a title. A homebuyer in Panama needs to know whether they're purchasing a "titled" property (with actual ownership, a deed) or a "rights of possession" (ROP). The process for purchasing the two types of property in Panama is different and requires an experienced lawyer who can help you understand the type of property you're dealing with. Read on to find out how to buy real estate in Panama.

How to Find Your Favorite Property to Buy in Panama

There are many ways to search for property in Panama. You can use dedicated search engines such as:

• Compreoalquile.com
• Encuentra24.com

These specialized search engines offer a wide range of homes and apartments in Panama, both second-hand and third-party properties, as well as new projects. If you decide to buy a house or apartment in Panama, remember that these portals lack due diligence on the listings, and therefore should be used by experts who can distinguish between listings from reputable and less reputable buyers. In particular, if you are inexperienced in purchasing a home in Panama and are new to this type of search, it would be best to rely on an approved, licensed real estate agency to help you find your desired property.

Buying a House in Panama: How It Works Legally

Buying a house in Panama follows a clear and regulated procedure. The purchase of real estate in Panama is done through a notarized public deed and subsequent registration in the Panamanian Public Registry. Before proceeding, it is mandatory to conduct a real estate due diligence , verifying that the property is free of mortgages, encumbrances, tax debts, or legal disputes.

It's essential to check the so-called "Paz y Salvo ," the certification certifying the absence of debts for real estate taxes, condominium fees, and municipal taxes. Investing in apartments in Panama without proper legal verification exposes the investor to avoidable risks. For this reason, it's always advisable to purchase real estate in Panama with the support of an independent local lawyer.

At Studio Panama Italia, we offer this service through our licensed Panamanian Real Estate Agency. Once we've viewed the property you're interested in, we begin the due diligence process, which involves verifying the identity of the property and its seller. The emphasis is on ensuring the property's "peace and safety," that is, researching the property's tax history to determine whether it is compliant with tax payments.

Property tax, corporate tax, and annual declaration to the DGI if the property is in a corporate name, including a flat-rate tax payment up until the date of listing, monthly payment of condominium administration fees, water, electricity, gas, and any local or municipal taxes. It is also necessary to determine whether the property was subject to a tax embargo and whether it has a mortgage or loan in place, and whether it is debt-free.

Once this initial due diligence has been completed for purchasing a property in Panama, the purchase contract is drawn up. Again, it will be the seller who proposes it, and it is important to check with a lawyer to ensure that the contract is not restrictive and full of clauses that are unfavorable to the buyer. An "Avaluo" (valuation) should then be done with an agency recognized by ANATI to verify the final price and verify with a specialized agency that there are no hidden defects that could arise in the first six months after purchase.

At Studio Panama Italia, we can offer this service for around USD 2,500. Contact us if you're looking to invest and buy property in Panama, or even if you simply want to rent a property in Panama.

a) Negotiating the price of a property in Panama: You can negotiate the price of a property in Panama through Panamanian real estate agents. If you negotiate the price of a house in Panama directly with an owner, be sure to negotiate all important terms with a competent Panamanian lawyer to prepare a written Panamanian real estate purchase contract using those terms.
b) Promise to purchase contract for a property in Panama: The buyer commits to purchase the property in a formal written contract. A small deposit is generally required when this contract is signed by the parties. The property is now kept open to give the buyer time to research the condition of the property and verify that the seller is indeed the owner. Register this contract with the Public Registry of the Government of Panama to alert other potential buyers that the property is not available.
c) Panamanian real estate title search : It is best to hire an experienced lawyer to examine the public registry records that confirm the seller is the true owner, as well as any liens on the Panamanian real estate. The lawyer can also investigate liens or other property-related issues. Hire a licensed surveyor to confirm the boundaries on the raw land. The lawyer can also research utility agencies to ensure all water and sewer bills are paid.
d) Purchase and Sale Agreement: This is a second contract after the title and utilities have been researched and the buyer is ready to close the purchase. This contract is usually the deed of purchase for real estate in Panama. You can hire an escrow agency to hold the funds and make the final payment and file the title transfer deed with the public registry.
e) Transfer of Ownership : In the United States, this is known as “Closing” when the property is transferred to the buyer and the purchase and sale agreement is recorded with the public registry.

With its Law No. 9 of August 27, 1997, the Panamanian government created significant incentives for real estate developers interested in the Casco Viejo (Old Town) of Panama City.

For example, any income earned from the sale or rental of your property is exempt from income tax for 10 years. You can also deduct 100% of the renovation costs from your income tax. Furthermore, you won't have to pay any duties on imported materials to complete the renovation. You won't have to pay any property tax for 30 years. Nor will you have to pay any transfer tax, provided the property costs $50,000 or more. Signs of private investment spurred by these incentives are everywhere. You can't walk far without passing a building being renovated or renovated. Scaffolding seems to be everywhere. There's an almost "land rush" feeling for condominium development in the area.

In 1994, Panama passed Law No. 8, the most modern and comprehensive law for the promotion of tourism investments in Latin America and the Caribbean.

Since the law was enacted, dozens of the world's largest hotel chains have jumped in to take advantage of it. But Panama's attractive tourism investment laws aren't just for big businesses. Anyone willing to invest a minimum of $50,000 in a tourism project can take advantage of the enormous tax benefits and financial incentives available here.

You could build a guesthouse in the hills of Boquete; start a whitewater rafting group in Chiriqui Viejo; open a surfboard rental shop on Playa Santa Catalina; lead trekking tours through the wild Darién Gap; open a marina, hotel, restaurant, or nightclub along the beaches of the Pacific Coast; launch a horse-drawn carriage service on Isla Taboga, the “Island of Flowers,” which has no cars; take tour groups through Panama’s historic colonial-era ruins… the opportunities are endless…

With a minimum investment of $50,000 anywhere in Panama, you receive:

A 20-year exemption from all import taxes due on materials, furniture, equipment, and vehicles;
A 20-year exemption from real estate taxes for all business assets;
An exemption from any fees levied for the use of airports and piers;
10% annual accelerated depreciation of real estate assets
; and if you start a tourism business in one of the specially designated tourist zones, you can also receive a 15-year exemption from income taxes.

Panama uses the standard 120-volt AC, 60 Hz. The outlets are the same flat two-pin type found in the United States. Electrical service is excellent, reliable, and safe.

How to work or find a job in Panama? Once you've made the decision to move to Panama, you need to start looking for employment or self-employment opportunities. Moving to Panama for work or entrepreneurial purposes is the main reason aspiring residents want to take up residency in Panama by following the six famous steps .

Working in Panama is a dream for many. If you're interested in working or finding work in Panama, it's very important to understand that without a Panamanian residency, you cannot work in Panama. You'll also need to apply for a work permit, an essential document for working or looking for work in Panama. To work in Panama, you must be a Panamanian resident.

There's no such thing as illegal work in Panama, and most importantly, no one works illegally because losing your residency would result in jail time and/or expulsion from the country. Once you have Panamanian residency, you can work in Panama legally and, more importantly, look for work. The same process of looking for work becomes impossible if you enter as a tourist. And remember, as a tourist, you can only stay in Panama for 90 days.

Bank accounts in Panama enjoy banking secrecy, guaranteed by both the constitution and local regulations. In Dubai, these are only state laws, not constitutional ones. The difference is significant. Repealing a law is common practice.

But erasing constitutional rights can require decades of parliamentary effort. Panama is practically impossible to lose its banking secrecy. Dubai, which does not already have banking secrecy but only a law on the privacy of corporate transactions that do not involve individuals, can abolish a law with a pen if forced to do so by international pressure.

Furthermore, banks in Dubai subcontract customer care services to Pakistan, Bangladesh, and India. Therefore, whenever you need help with your banking transactions, you'll have to provide your details and data to private individuals living outside Dubai in distant countries where there are no specific privacy laws.

 Panama is up to 300% cheaper than Dubai, so why would an expat emigrating precisely to avoid the high cost of living move to Dubai, where everything is exorbitantly expensive compared to Panama? Panama boasts breathtaking natural beauty, between the Caribbean and the Pacific, mountains and hills, rivers, Amazon-style rainforest, rainforest, islands, and archipelagos—it has some of the most unspoiled nature in the world.

In Dubai, you have to endure scorching heat, reaching over 50 degrees Celsius, the sandstorm season, which forces you to stay indoors, and the impossibility of getting from one place to another year-round without having to buy a car. Culturally, Panama is Latin, therefore close to Italian and Spanish customs; it's a truly joyful and festive place, yet peaceful and safe.

The religion is the same as Catholicism practiced in Italy and Europe, and there's no ban on drinking alcohol or dressing as one wishes without offending decency, as is the case in Dubai. According to the World Bank, to live like a rich person in Panama, you only need $60,000 annually. To live like one, own the same type of apartment or house, and own the same model of car in Dubai, you need to earn around $400,000 annually. It's therefore clear that, economically, Panama is unrivaled and shouldn't even be compared to Dubai as an expatriate destination, because Dubai itself isn't an expatriate destination.

Panama is much better than Dubai for countless fiscal, financial, legal, tax, and cultural reasons. Younger expats are often dazzled by mainstream and YouTube gurus who extol Dubai's beauties.

Few people know that almost all of these gurus are paid by various pro-business and pro-tourism foundations in Dubai to make a country that has very little that is attractive more attractive. First, let's start with the reasons why people seek foreign residency and why they generally choose between Panama and Dubai. Tax residency.

Unlike Dubai, Panama allows you to obtain tax residency without the burden of proof, guaranteeing zero-tax treatment and zero reverse burden of proof obligations with the Italian ADE. Residency in Panama is immediately permanent after the three-day process to obtain it and has no residence requirements; you don't have to live in Panama, and it never expires.

You are not legally bound to the country if you don't want to live there, and you can never return because residency is permanent. In Dubai, you are required to reactivate and maintain your residency every six months, with a requirement to stay for at least 183 days per year. Furthermore, Dubai requires you to provide reverse proof of residency to the tax authorities.

Another important detail is that in Panama, accounts are truly offshore, have Swift, and have no IBAN. Accounts in Dubai have IBANs, which means their transactions are monitored by the European Central Bank. No one ever talks about it, and no one ever tells you, but in practice, opening an account in Dubai means opening an account at any European bank without real banking secrecy.

The Panama vs. Costa Rica comparison is one of the most sought-after by expats, investors, and people considering moving to Latin America. Both countries offer political stability, a tropical climate, and a good quality of life, but the differences between Panama and Costa Rica are profound, especially when considering taxation, investments, residency, and the cost of living. In almost all of these areas, Panama is more advantageous than Costa Rica.

Panama vs. Costa Rica: Economic and Monetary Stability

One of the main advantages of comparing Panama vs. Costa Rica is monetary stability. Panama uses the US dollar as its official currency, completely eliminating the risk of currency devaluation. Costa Rica uses the Costa Rican colón, a currency subject to fluctuations and devaluations in the medium to long term.

For those looking to live or invest in Panama, using the dollar represents a huge advantage over Costa Rica, especially for real estate investors, entrepreneurs, and expats with international income.

Panama vs. Costa Rica: Taxes and Duties

In the Panama vs. Costa Rica tax comparison, Panama clearly wins. Panama applies a territorial tax , meaning that only income earned within the country is taxed. Foreign income is not subject to local taxes.

Costa Rica, on the other hand, has introduced a more aggressive tax system in recent years, extending taxation to foreign income in some circumstances and increasing the overall tax burden. For those seeking tax-efficient residency, Panama is significantly more competitive than Costa Rica.

Residency Panama vs. Costa Rica

Obtaining residency in Panama is generally easier, faster, and cheaper than residency in Costa Rica. Panama offers clear residency programs, with defined requirements and short deadlines, especially for European and North American citizens.

Residency in Costa Rica is often slower, more bureaucratic, and requires more stringent proof of continuous income. When comparing Panama vs. Costa Rica for residency, Panama appears more flexible and expat-friendly.

Investing in Panama vs. Costa Rica

Panama offers a much more favorable investment environment. Investing in Panama means access to an international financial hub, with a robust banking system, modern infrastructure, and a real estate market geared toward foreign investors.

Costa Rica is more oriented towards a tourism and agricultural economy. Investing in Costa Rica can be attractive in certain sectors, but it presents greater environmental, regulatory, and tax constraints. When comparing Panama vs. Costa Rica for real estate investments and business, Panama offers greater operational freedom.

Panama vs. Costa Rica: Cost of Living

The cost of living is often perceived as lower in Costa Rica, but in reality, many areas of the country have become expensive, especially in tourist areas. High rents, expensive services, and higher taxes reduce the real economic advantage.

Panama can be expensive in some areas of Panama City, but it offers greater flexibility. Furthermore, Panama allows you to live elsewhere while maintaining your residency and tax structure in the country, a feature highly appreciated by international expats.

Panama vs Costa Rica for expats

In a comparison of Panama vs. Costa Rica for expats, Panama appears more international, more business-oriented, and better connected to the rest of the world. Panama's international airport is one of the main hubs in the Americas, while Costa Rica is less central from a logistical standpoint.

Panama also offers better banking services, high-quality private healthcare, and greater openness to investors and foreigners. Costa Rica remains a good choice for those seeking a more rural and naturalistic lifestyle, but less suitable for those seeking efficiency, taxation, and estate planning.

Conclusion: Panama or Costa Rica?

In the final comparison Panama vs Costa Rica, Panama emerges as the best choice for those looking for:

• efficient tax residence

• monetary stability

• real estate and financial investments

• international estate planning

• freedom of movement and flexibility

Costa Rica remains a pleasant destination from a naturalistic perspective, but less competitive from a fiscal, financial, and strategic perspective. For a structured way to live, invest, and relocate, Panama today represents a more solid and comprehensive solution than Costa Rica.

When deciding to travel, move, or live abroad, safety is one of the most important factors to consider. Safety in Panama is therefore a key concern for anyone considering the country as a travel, expatriation, or residence destination. The question many ask is always the same: is Panama dangerous? How dangerous is Panama really?

The answer, based on data and everyday perception, is that Panama is one of the safest countries in Latin America . It's no coincidence that it's often called the "Singapore of Latin America" ​​due to its high level of urban, banking, and social security. Crime in Panama is significantly lower than the regional average, and its crime rate is among the lowest in Central and South America.

The feeling of safety in Panama is very high, both day and night. You can move freely throughout much of the country, including Panama City and the entire metropolitan area, without feeling any real risk. Crime in Panama, especially violent crime, is rare in the residential, financial, and commercial areas frequented by residents and expats. Phenomena such as pickpocketing, widespread robberies, or petty crime are virtually absent in central, well-controlled areas.

One of the most obvious indicators of safety in Panama is the daily behavior of the population. People wear expensive clothing, use expensive smartphones, and drive luxury cars at all hours of the day and night. High-value watches, jewelry, and luxury goods are displayed without fear. In a country where opulence is visible and socially accepted, urban safety becomes a structural necessity, and Panama has built its reputation on this very fact.

Crime in Panama is not only low, but also tightly controlled. Law enforcement is present, efficient, and focused on prevention, especially in urban and tourist areas. This contributes to Panama's significantly lower crime rate than neighboring countries like Colombia, Ecuador, or Mexico. The perception of safety is therefore not merely subjective, but supported by data and the direct experience of residents and visitors.

Panama is not dangerous, neither for tourists nor for foreigners who decide to relocate. Living in Panama means enjoying a high level of security, not only financially and banking-wise, but also in everyday life. Over time, safety in Panama has become a true hallmark of the country, along with economic stability and investment protection.

In conclusion, Panama is considered one of the safest countries in Latin America. Crime in Panama is limited, crime is rare in strategic areas, and the feeling of security is consistently high. For those considering Panama as a travel, expatriation, or residence destination, safety is one of the country's main strengths.

A Guide to Moving to Panama for Italians

On the dedicated page on Panama residency , you can learn why and how to set up a company and do business in Panama, its banking and investment options, and how to obtain residency and ultimately citizenship in this Central American country. You'll notice that numerous visas are available; as an Italian, you'll use the first procedure explained, the famous Panama-Italy Friendship Treaty.

If you want to become a Panamanian citizen someday, remember that you don't have to move to Panama as a pensioner; pensioners' residences don't grant citizenship. You must move via a Panama-Italy convention.

How moving to Panama can transform your life is the reason why more and more people decide to pack their bags and embark on a unique and definitive relocation journey. It offers the certainty of success and a guarantee of serenity in a fabulous tax haven and impressive tropical paradise where you can rediscover the pleasure of improving your quality of life and keeping pace with economic and social progress.

The remarkable freedom you can truly experience and enjoy compared to other nations is irreplaceable and unforgettable. To learn how to move to Panama, contact us at info@studiopanamaitalia.com to begin the process of safely moving to Panama and establishing permanent residency in Panama.

Panama has long been a favorite destination for expats , expatriates , and digital nomads seeking stability, modern infrastructure, and an international atmosphere. Understanding where expats live in Panama and where expats meet is essential for anyone considering a move or a temporary residence in the country.

Most expats in Panama are concentrated in the capital and the surrounding areas. Panama City is the main hub for digital nomads , entrepreneurs, and expats thanks to its international banks, co-working spaces, world-class restaurants, and excellent air connections. Neighborhoods such as Punta Pacífica, Costa del Este, San Francisco, and Obarrio are among the most popular places for expats to live.

Punta Pacífica is home to many expats working in the financial and medical sectors. It's a modern, safe area with high-end condominiums, highly sought after by expats seeking comfort and amenities. Costa del Este, on the other hand, is particularly popular with digital nomads expat families for its urban planning, international schools, and strong foreign community.

This San Francisco neighborhood offers the perfect balance for expats , digital nomads , and expats . It's home to co-working spaces, bars, restaurants, and nightclubs frequented daily by expats from Europe, the United States, and Canada. It's one of the easiest areas to socialize and network with other expats .

Obarrio, on the other hand, is the city's business heart. Many expats working in banking, law, or corporate life live or spend much of their time in this area. There's also no shortage of coworking and networking spaces popular with digital nomads .

Outside the capital, another popular area among expats and expatriates is Boquete. This mountain town attracts expats seeking cooler weather, nature, and a slower pace of life. Although less digital nomad- the country's most established expat communities

Coronado and the Pacific coastal areas are favored by expats and expatriates who want to live near the sea, often as a second home. Here, you'll find expats who are more focused on quality of life than remote work, although the number of digital nomads is growing.

As for meeting places, expats in Panama mostly meet in coworking spaces, networking events, international meetups, and local venues. Coworking spaces like those in San Francisco, Costa del Este, and Casco Viejo are frequented daily by digital nomads and expats . Casco Viejo, in particular, is one of the main evening hangouts for expats , with bars, rooftops, and restaurants where it's easy to socialize.

There are also numerous online communities and local groups dedicated to expats , expatriates , and digital nomads , which organize weekly events, dinners, happy hours, and professional meetings. This makes Panama one of the easiest countries in Latin America to integrate quickly as an expat .

In short, expats in Panama live primarily in Panama City and the more modern and safer areas, while digital nomads and expats find numerous opportunities for both professional and social encounters. The presence of a large and active international community makes Panama one of the most attractive destinations for expats , digital nomads , and expats seeking a balance between work, social life, and quality of life.

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