Expats in Panama

Expats in Panama

Panama has become one of the top destinations for expatriates. In recent years Panama has evolved as one of the most attractive countries for expats, thanks to modern facilities, natural beauty, and a welcoming environment. Whether you're looking to retire, start a business, or simply enjoy a new lifestyle in a tropical setting, Panama provides numerous opportunities for expatriates. The stable economy, economic growth, low cost of living, and relatively low taxation rates will benefit anyone wishing to have a high quality of life in a foreign country.

The population of foreigners residing in Panama is increasing year by year. People from the USA, Canada, EU, and other countries move to Panama for several reasons. In Panama, you will be surrounded by a mix of cultures focusing on the Americas since Panama is the bridge that connects the two continents. English is understood almost everywhere; people speak it especially in big cities and among people with a college education, so newcomers will not have problems with acclimatization to the local culture.

The country has various programs through which one can obtain residency depending on their wants and needs. To learn more about the various visas available, read our dedicated article here. One of the most popular visas is the Pensionado visa, under which permanent residency in the country is granted if you are a pensioner with a steady income. For those still in employment, there are other visa options including the Friendly Nations Visa for those intending to migrate to Panama with ease.

Panama for Expats

First of all, the climate of Panama is tropical while infrastructures, facilities, and the standard of living are modern and affordable, making the country perfect for expats. The availability of restaurants, bars, leisure facilities, and recreational amenities also confirms that the city offers a broad selection. The country has a robust healthcare system. The healthcare system in Panama includes both the public sector, which is open to all residents, and the private one, which provides access to care faster and under better conditions. Most doctors and medical practitioners in Panama have been trained internationally, hence the standard of care.

For more information about the Healthcare System and Health insurance in Panama, please read our dedicated guide here.

This is another important factor, that Panama operates on US dollars, which makes no question about the exchange rate for many expatriates. Further, Panama is strategically located closer to the U.S. and Canada, making it easy for the expats to plan their flights in case they need to visit home. Read our dedicated guide here.

Expats Life in Panama

Expat life in Panama can be as laid-back or adventurous as you like. Living overseas in Panama offers the opportunity to enjoy fast-paced lifestyles or to vacation in slow boats. A considerable number of expatriates are attracted by the beach, mountain, and tropical forests where they engage in activities like trekking and fishing. Some people recommend Panama City for its contemporary towering structures, various restaurants, and social activities.

In terms of quality of life, those who move to Panama are content with a lifestyle different from the fast-paced American or European lifestyle, especially in rural and beach areas. Whether you are there for employment or simple retirement, there is always lots of interaction socially, and it’s most often quite easy for foreigners to fit into Panamanian society.

Many expatriates are drawn to the country's beaches, mountains, and tropical forests, enjoying activities like hiking, fishing, and birdwatching. Others prefer the urban energy of Panama City, with its modern skyscrapers, thriving restaurant scene, and cultural events.

Panama offers a great balance of work and leisure, with many expats embracing the slower pace of life, particularly in smaller towns and coastal regions. Whether you’re in Panama to work or retire, you’ll find that the country’s friendly atmosphere and expat communities make it easy to form social connections and build a fulfilling life.

Expat Jobs Panama

Although many people go to Panama looking for a place to retire, many others go there in search of employment or business opportunities. As the country’s economy grows and industries like finance, logistics, tourism, and hospitality expand, Panama is full of new employment opportunities for qualified professionals. Numerous multinationals conduct business within Panama's territory, and job openings in such sectors as management, technology, and finance are common.

For a complete guide about How to find a job in Panama, read our dedicated article here. The most effective way to search for a new job is to use job search websites like LinkedIn, Encuentra24, Indeed, and OpcionEmpleo.

In teaching, English-speaking candidates are also sought after, and some take up jobs in the booming Hotels and Restaurant industry. For entrepreneurs, Panama offers a range of opportunities for starting businesses in tourism, real estate, and more. The Panamanian government has restricted some professions, such as accountant, engineer, and lawyer, for foreign workers. The full list of regulated professions in Panama, restricted for migrant workers, can be found here.

Panama Expat Communities

Panama is home to several well-established expat communities, making it easy for newcomers to connect with others who have relocated. The United States, Colombia, Venezuela, Canada, Ecuador, Spain, France, Italy, Germany, UK, and Chile are among Panama’s largest expatriate sources. These communities are located all over the country and provide support and fellowship to the people. Several parts of Panama are considered to be popular destinations for expats, including Panama City, Boquete, Coronado, and Bocas del Toro.

In these communities, you will also find businesses, social clubs, and organizations which are mostly established and run by expatriates, giving newcomers a feeling of being at home. There are chances to go to parties, coffee meetings, and forums where like-minded people gather.

Expats Living in Panama

Expats living in Panama enjoy a lower cost of living compared to many Western countries, particularly in terms of housing, healthcare, and groceries. According to various studies, the cost of living in Panama is relatively cheaper compared to many developed countries of the West, in areas such as home rents, healthcare, and food. Despite being the most costly area, it has also been noted that the cost of living is relatively affordable compared to the quality of living in Panama City. Thus, besides the capital, the cost of living in areas such as Boquete or Coronado is going to be even lower, as rental prices and daily essentials are considerably cheaper.

Expats in Panama City

Most of the expat communities are based in Panama City. According to various studies, the cost of living in Panama is relatively cheaper compared to many developed countries of the West, in areas such as home rents, healthcare, and food. Despite being the most costly area, it has also been noted that the cost of living is relatively affordable compared to the quality of living in Panama City. Thus, besides the capital, the cost of living in areas such as Boquete or Coronado is going to be even lower, as rental prices and daily essentials are considerably cheaper. Expats in Panama City benefit from living in a vibrant urban setting with easy access to the country’s many natural attractions.

Expat Forum Panama

Whether one is a newcomer to the country or has been living in Panama for years, the forums for expats are an essential source of information and help. The social groups on the internet offer opinions from people who have been through it. There are many online forums available like Expat Exchange, where you can post your questions and queries to other expats and learn from their experiences.

By the way, AllAboutPanamaCity is considered the largest and most reliable resource for information on everything there is to know in Panama, where you can search for the best neighborhoods, knowledgeable healthcare providers, or visa requirements in case you are thinking about moving to Panama.

Panama Expat Real Estate

Real estate in Panama is another major draw for expats, where one can buy or rent homes and other accommodations at reasonable prices. Whether one is looking for a high-rise apartment in one of Panama City’s spectacular skyscrapers, a cute bungalow in a beach community, or a cozy cabin in the hills, Panama has it all.

For more details about How to find an apartment in Panama, visit our dedicated guide here, and if you are looking to buy a property, take a look at our article How to buy an apartment in Panama.

A significant number of expats purchase or invest in property to live in the country and establish themselves in Panama since the laws relating to real estate are not very complex. Real estate in Panama is another major draw for expats, with opportunities to purchase or rent properties at competitive prices. From luxurious condos in Panama City’s skyscrapers to charming houses in beach towns or mountain retreats, there’s something to fit every lifestyle and budget.

Best Place to Live in Panama for Expats

Choosing the best place to live in Panama depends on your lifestyle preferences:

• Panama City: Perfect for people who are looking for a flashy urban feel complete with facilities, eateries, entertainment services, and cultural events.
• Boquete: Popular among retirees, Boquete offers accessibility to nature, a cooler mountain climate, outdoor activities, and a friendly foreign community.
• Coronado: Located on the Pacific coast, Coronado is also an excellent choice for a small beachfront town where expats can live with easy access to shopping and dining.
• Bocas del Toro: For those seeking a more laid-back island lifestyle, Bocas del Toro offers stunning beaches, wild adventures, and amazing nightlife.

Read our article Panama City travel guide to find all the essential information for your trip to Panama!