Panama

Living in Panama: the short version

Panama uses the US dollar, taxes only Panamanian-source income and offers one of the world’s best-known retirement visas. Panama City has a modern skyline and good private hospitals, while Boquete and the beaches offer a slower, cheaper life.

Best for: Retirees, Americans who want a dollar economy, and people with foreign income seeking territorial taxation.

How to move to Panama: main visa and residency routes

Summaries only — requirements and income thresholds change. Always check the official sources below.

Pensionado (retiree) visa

For people with a lifetime pension of at least US$1,000 a month (less if buying property); no age minimum.

Friendly Nations visa

For citizens of listed countries with a Panamanian job offer or a qualifying real estate purchase.

Qualified Investor visa

Fast-track permanent residence for a large investment in real estate, securities or a bank deposit.

Short-stay remote worker visa

For remote workers earning at least US$36,000 a year from abroad; nine months, renewable once.

Healthcare for newcomers

Panama City has modern private hospitals affiliated with US institutions, and private insurance is relatively cheap. Public care through the CSS is mainly for contributors and varies in quality outside the capital.

Sources and methodology

Figures on this page are estimates in US dollars, compiled from the international datasets below and converted at recent exchange rates. The cost of living index uses New York City as 100. Guidance was last reviewed on September 30, 2026. Found something out of date? Tell us.