top of page
Relocating to Panama

Relocating to Panama

Why Panama is the perfect destination
for your new chapter

When considering a move abroad, choosing the right destination can feel overwhelming. With its vibrant lifestyle, strategic location, and user-friendly visa programs, Panama stands out among popular relocation spots. Whether you’re weighing the tropical allure of Costa Rica, the cultural richness of Mexico, or the European charm of Portugal, Panama offers a unique blend of affordability, modern infrastructure, and economic stability that’s hard to match.

Discover how Panama compares to other top destinations and why it’s the perfect place for you.

Panama

Panama vs. Costa Rica

  1. Cost of Living:

    • Panama: Offers lower housing costs in urban areas (e.g., $00–$1,500 for rentals) and affordable healthcare with private consultations around $50–$80. Utilities are generally affordable, and the use of the US dollar eliminates currency conversion risks.

    • Costa Rica: Slightly higher cost of living, especially in popular expat areas like Guanacaste. Healthcare is accessible, but private care is often pricier compared to Panama.

  2. Visa Programs:

    • Panama: Friendly Nations Visa, Pensionado Visa, Qualified Investor Visa, and Digital Nomad Visa offer flexibility and fast-track options.

    • Costa Rica: Pensionado and Rentista Visas require proof of steady income but involve lengthier processing times.

  3. Lifestyle:

    • Panama: Modern infrastructure with strong global connectivity (hub via Tocumen International Airport). Vibrant city life in Panama City with proximity to beaches and mountains.

    • Costa Rica: Known for eco-tourism and serene rural living. However, urban areas lack the same level of development as Panama.

Panama vs. Portugal

  1. Cost of Living:

    • Panama: Lower property taxes and no income tax on foreign-earned income make it particularly attractive for retirees and investors.

    • Portugal: Slightly higher living costs, especially in Lisbon or Porto. Tax incentives under the Non-Habitual Resident program are attractive but involve specific conditions.

  2. Visa Programs:

    • Panama: Friendly Nations Visa and Qualified Investor Visa are tailored for fast-track residency.

    • Portugal: Golden Visa allows EU access but requires higher investments (€280,000–€500,000).

  3. Lifestyle:

    • Panama: Year-round tropical climate and close proximity to North and South America for travelers.Portugal: European lifestyle with historic charm and cooler climates.

Image by Mario Scheibl
Image by Octavio Fossatti

Panama vs. Mexico

  1. Cost of Living:

    • Panama: Consistent affordability, especially in utilities and services. Luxury living is attainable without extreme costs.

    • Mexico: Lower costs in smaller cities but higher in major hubs like Mexico City or expat hotspots like Playa del Carmen.

  2. Visa Programs:

    • Panama: Quick pathways through the Qualified Investor Visa and options for permanent residency with most visa types.

    • Mexico: Temporary and permanent residency options, though the process can be bureaucratic, and income requirements vary.

  3. Lifestyle:

    • Panama: Focused on urban convenience combined with natural beauty. Stable political environment adds to appeal.

    • Mexico: Rich cultural experiences and diverse climates. However, safety concerns can be a deterrent for some.

Panama vs. Dominican Republic

  1. Cost of Living:

    • Panama: Offers a balance of affordability and modern amenities. Banking and financial systems are highly developed.

    • Dominican Republic: Lower costs in rural areas, though quality of services like healthcare and utilities may vary.

  2. Visa Programs:

    • Panama: Quick and structured pathways to permanent residency.

    • Dominican Republic: Residency process is slower, with fewer streamlined options.

  3. Lifestyle:

    • Panama: Greater focus on professional and investment opportunities, with modern cities and world-class infrastructure.

    • Dominican Republic: Strongly geared towards retirees or expats seeking a laid-back, beach-centric lifestyle.

Image by Azzedine Rouichi
Image by Rikin Katyal

Panama vs. Colombia

  1. Cost of Living:

    • Panama: Consistent and predictable expenses, no currency risks due to USD usage.

    • Colombia: Lower living costs overall, but currency fluctuations can affect budgets for expats.

  2. Visa Programs:

    • Panama: User-friendly visa system, especially the Pensionado Visa and Friendly Nations Visa.

    • Colombia: Offers retirement and investor visas but involves longer processing times and additional documentation.

  3. Lifestyle:

    • Panama: Geared towards expats seeking modern convenience and stability.

    • Colombia: More vibrant nightlife and cultural experiences, but safety concerns are often cited.

bottom of page