Living and Retiring in Panama
About Retiring in Panama
There is definitely more to Panama than its Canal! The amazing benefits of retiring to Panama are no longer a secret. The country offers a comfortable, affordable, and modern lifestyle, surprising visitors with its skyline, infrastructure, beaches, and highlands, along with world-class amenities for residents and visitors alike.
Panama is quickly becoming one of the world’s top retirement and eco-tourism destinations. With rich biodiversity, cultural diversity, and opportunities for adventure such as deep-sea fishing, birdwatching, rafting, and diving, Panama combines excitement with tranquility. Whether you prefer cosmopolitan city life, mountain views, or seaside relaxation, Panama has it all.
One of Panama’s main attractions is its low cost of living. From inexpensive transportation and dining to affordable housing, retirees can enjoy a luxurious lifestyle at a fraction of the cost compared to the U.S. or Europe. A taxi across town might cost under $4, a haircut $5, and a full dinner with wine under $20 per person.
Real estate in Panama is also accessible. From high-rise apartments in Panama City to beachfront condos or mountain homes, property prices are reasonable and attractive to retirees from around the world. Healthcare is affordable and high-quality, with many U.S.-trained doctors and hospitals affiliated with major international institutions.
Panama City’s modern infrastructure includes the Panama Metro, the first subway system in Central America, which opened in 2014 and continues to expand. Publications such as Modern Maturity and International Living consistently rank Panama among the best retirement destinations in the world — highlighting areas like Boquete for its scenery and climate.
With international flight connections through Copa Airlines and a growing number of direct routes, Panama is easily accessible from North America, Canada, and Europe. It’s an ideal place not only to retire but to enjoy an active, connected, and affordable lifestyle.
Visa & Residency Programs in Panama
Below is a summary of the different Visa and Residency programs available in Panama. Click the links to learn more about each program.
| Visa Program | Basic Requirement | Benefits |
|---|---|---|
| Self-Economic Solvency (Person of Means) |
|
Grants 2 years of temporary residency and eligibility for Permanent Residency. Right to apply for Panamanian nationality and passport after 5 years. |
| Retiree (Pensionado) | Pension of at least $1,000/month (+$250 per dependent) | Permanent Residency, tax exemptions on imports, senior discounts, and right to apply for nationality after 5 years. |
| Reforestation Investor (Option 1) | Investment of $100,000 in a certified reforestation project | 2 years of temporary residency, with eligibility for permanent residency and nationality after 5 years. |
| Reforestation Investor (Option 2) | Investment of $350,000 in a reforestation project | Immediate permanent residency and work permit eligibility; nationality after 5 years. |
| Qualified Investor | US$500,000 in real estate or securities, or US$750,000 time deposit (5-year minimum) | Immediate permanent residency and eligibility for nationality after 5 years. |
| Friendly Country Visa | Purchase real estate or set up a US$200,000 time deposit (3 years), or hold a labor contract with a Panamanian company | 2 years of temporary residency followed by permanent residency; nationality after 5 years. |
| Employment Visa | Must be employed by a company within the 10% or 15% foreign employee quota | 2 years of temporary residency and work permit, leading to permanent residency and nationality after 5 years. |
| Free Trade Zone Investor | Investment in a Free Trade Zone or Call Center (amount varies by zone) | 2 years of temporary residency, leading to permanent residency and nationality after 5 years. |
| Professional Activities | University degree for a profession not restricted under Panamanian law | 2 years of temporary residency, leading to permanent residency and nationality after 5 years. |
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