12 Reasons Expats are Getting Panama Residency

1. Different scenery

Panama has different landscapes ranging from mountains and lush waterfalls in the Boquete, Chiriqui region, over 100 different islands including virgin islands like San Blas, cityscapes with towering buildings and shopping centers and much more. Many expats spend the week in the city and travel to islands during the weekends.

For a list of the best beaches to visit in Panama read this article.

2. Outdoorsy activities

Leisure activities abound in Panama. You can go fishing, island hopping, surfing, golfing, diving and nightclubbing all-in-one day. In addition to the long list of water activities around Panama, many tourist and locals participate in adventure walks through forest and tropical parks. Panama has many beautiful national parks great for exploring the outdoors.

3. Proximity to USA

The list of countries expat are moving to is long, but Panama wins over most due to how close it is to the USA and Canada. Panama has a 2-hour flight from Miami, direct flights to New York, Toronto, Chicago and many more cities making it easy for expats to visit family and friends back home.

4. Easy Residency Visa

Panama has relatively easy visa requirements and over 80+ different visa options for foreigners, making it easy to obtain residency. Residency programs such as the Retista Retirado provide a expats a Panama passport in less than 31 days.

5. Tax benefits

Panama has several tax benefits for foreigners including no tax on income earned outside of Panama. It also has exemptions on inheritance tax and capital gains. Property tax exemptions for investors also exit in Panama.

6. Modern infrastructure

Panama has a well-developed metro system, is super-connected with five cross atlantic fiber connections, and stable infrastructure due the importance of the Panama canal.

7. Political stability

Panama is politically stable, which makes it a safe and secure place to live. The locals are known for being open and hospitable, making it easy for foreigners to integrate into the community. This makes for a much smoother transition to a new country.

8. Unique exotic wildlife

Smithsonian research center is based in here in Panama due the unique biosphere that exists which allow wildlife to thrive. Bird watching is a popular pastime with retirees and observing jaguars, sloths and crocodiles in their natural habitats.

9. Low cost of living

The low cost of living compared to other countries in the region make Panama an attractive destination for expats and retirees looking to live on a fixed income. For an recent report on the cost of living prices in Panama read our article: Panama Cost of Living.

10. High quality of life

Good healthcare, modern infrastructure, balance of work and play, along with political stability and thriving cultural scene make Panama a great destination for individuals and families that want to enjoy a high quality of life.

11. Affordable healthcare

In Panama, you'll find an excellent healthcare system that is both affordable and accessible. This is a major draw for retirees who may require medical attention on a regular basis.

Panama has a choice of private and public health insurance. Most expats opt for private insurance due the reduced cost when compared to the US or Canada. As for pharmaceuticals, pain medication and antibiotics retirees can take advantage of retiree discounts and the lower cost market in Panama.

12. Strategic location

Panama is a located at the crossroads of North and South America and has over 8% of the global economy transiting through the canal. Panama is expat friendly which makes it easy for foreigners to start a business or work in the country. The strategic positioning is also ideal for individuals looking to travel or do business in the region.

In conclusion, Panama offers a number of compelling reasons for expats to obtain residency in the country. From its friendly culture and low cost of living to its excellent healthcare and modern infrastructure, Panama has a lot to offer those looking to start a new life in a new country.