Moving To Or Retiring In Panama

Moving To Or Retiring In Panama

Panama has been atop most “Best Places To Retire” lists for more than a decade. In 2012 when the pensionado program was enacted, it was immediately hailed as the Gold Standard for attracting retirees and expats worldwide. With its wide-ranging benefits–from reduced medical costs to allowing up to $10,000 worth of household goods to be imported without taxation–individuals of all ages took advantage and began ”retiring” in Panama.

In those initial years, Panama was a bit like the Wild Wild West. People came through Tocumen International Airport with a passport and either didn’t bother to maintain appropriate documentation or they took a quick weekend trip to Costa Rica or Columbia and restarted the clock on their tourist visa. People with true grit took on the bureaucracy of getting a Panama Visa without an attorney. Housing was relatively inexpensive and lots of expats lived well just on their Social Security. Things have changed. You can still live comfortably on less money than it takes in other countries, but you will need to make the investment to get your paperwork in order.

By 2020 Panama has become more organized about how to welcome expats and foreigners who want to relocate. Panama is still on top of most lists for expat retirees, but now relocating is organized and more efficient. As part of the 1961 Hague Convention, Panama accepts individuals from 118 countries, including the United States, all members of the European Union, Canada, Singapore, Australia, and Great Britain for an initial 30 days which can be renewed for 60 days making a total of 90 days the maximum. If you have not gotten your paperwork in order by that time, you will need to leave Panama for 30 days before re-entering on a new tourist visa. No longer can you make a hasty weekend trip out of the country and re-enter Panama.

Not The Wild Wild West!

In the early years, attorneys or “abogadas (feminine) and abogados (masculine)” were being cut out of the business of getting visas or residential status because people were able to secure it themselves. Not only did that eliminate a great deal of income, for Panamanian professionals, it clogged the courts and government offices. Everything was slow and full of disappointment on both sides. On weekdays people would line up on hard plastic chairs and sit for hours before their name was called. More times than not, they did not have everything in order, there was poor communication and language barriers so they were often turned away, only to repeat the process.

Individuals from most countries can enter Panama if they have a valid passport with three months remaining and a multi-entry visa. Depending on their visa they will be allowed to stay for up to 90 days on a B-1 visa or six months on a B-1/B-2 visa. This will allow individuals time to become documented appropriately in Panama.

Today, only Panamanian attorneys can go through the process of establishing legal residency for expats or managing everything needed for transferring employees and their families with multi-national companies. All paperwork must be in order prior to the initial filing and individuals seeking status documents such as residency and pensionado cards or visas. Once everything is in order, applicants are called at the end to make an appearance for taking a picture/s and signing necessary documents. Fees for this are, on average, around $5,000 and may seem more expensive, but it really isn’t in the long run.

Visas Options

Panama has created a variety of different types of visas that make it easy to live and invest in Panama. This has been done primarily to promote foreign investment. Panama is dependant on foreign investment to keep its economy diversified and interfaced with the global economy. Now is the time to consider how these foreign-focused programs can benefit particular situations. Working locally, individuals and their families can secure temporary or permanent residency, work permits, and even Panama citizenship and passports.

There are eight types of visas in Panama and they include:

Pensioner Visa–Individuals over 18-years-of-age with a minimum of $1,000 per month can obtain a “pensionado” visa.
Friendly Nations Visa–This is the fastest way to obtain a visa individually and for trailing spouses and family. To qualify individuals must be from countries listed on the Friendly Nations List and that includes Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Marino, Montenegro, Netherlands, New Zealand, Norway, Poland, Portugal, Serbia, Singapore, Slovakia, Spain, South Africa, South Korea, Sweden, Switzerland, Taiwan, United States of America, Uruguay, United Kingdom (Great Britain & Northern Ireland).
Professional Employment Visa–Foreigners who work for a Panamanian business in a professional capacity and who have a university degree may become a permanent resident after two years. There are some exceptions, but generally, any “professional” listed in the “protected job classes” by the Panamanian government will not be eligible unless hardship is demonstrated.
Reforestation Investor Visa–Individuals may invest a minimum of $80,000 in a government certified reforestation project, owning a minimum of 12.35 acres (five hectares) of titles land, with an additional investment of $2,000 for each dependent can obtain Panamanian residency.
Self-Economic Solvency Visa–Individuals who bring a total of $300,000 by investing in a Panamanian Certificate of Deposit (CD) or real estate equaling the $300,000, plus $2,000 or each dependent, qualify for a visa.
Business Investor Visa–Invest a minimum of $160,000 in capital stock of a Panama Corporation, plus $2,000 for each dependent will be allowed a visa.
Married to a Panamanian Citizen–A valid marriage will allow foreigners a permanent visa, but the rules are strict to eliminate shams.
Parents of a Child Born in Panama Visa–The child must have been born in Panama and be at least five-years-old will allow parents to apply for a permanent visa.

Before You Leave Home

Regardless of the type of visa you seek, there will be plenty of paperwork. If you decide to obtain a visa other than the pensioner or friendly nations visa, you should consult an attorney to be certain you have everything needed breofre coming to Panama.

Whatever documents are needed must be authenticated through a Consulate of Panama outside the country prior to entering Panama and working with a Panamanian lawyer. If you are in the US, you can get everything documented at the Panama Embassy. The Consulate of Panama is located at 2862 McGill Terrace NW, Washington, DC 20008 (202.483.1407). You will need an appointment to enter the Embassy and that can be arranged by phone or email at info@embassyofpanama.org or consular@embassyofpanama.org. You may also apply by mail.

Even though the Embassy is open Monday through Friday from 9:00 am to 5:00 pm, the Consulate is only open until 2:00 pm. If Mailing in your paperwork, remember to pay with a money order and supply a pre-paid envelope, either from the United States Post Office, priority mail, or any of the package delivery companies such as UPS, DHL, or FedEx. It is important to know exactly what you will owe in fees because if there are not adequate funds, the papers will be returned without documentation.

Additional Consulates of Panama are located in adjunct offices in Miami, New York, Philadelphia, Houston, Los Angeles, and Tampa in the United States and Toronto in Canada. The same rules apply to those offices, but you should be careful to look at their hours, when you can make an appointment and what is required. These individuals are strict and you should simply commit to making sure you have everything in order.

If all of this just seems too much in terms of figuring money, appointments at the Consulate, and dotting every i and crossing every t, you may want to go through a firm in your home country which specializes in getting everything together for international transfers and relocation. The largest provider is CIBT Visas: https://cibtvisas.com/about-us. They have locations around the world and processed paperwork for over a million travelers in 2019.

What You’ll Need

The records you will need to be authenticated include:

A birth certificate, authenticated by the Office of Vital Records from the state/province where the birth occurred.
You will need proof of income. To become a resident of Panama you must show at least $1,000 monthly income for the first individual and $250 additional for each dependent. This proof of income can be in the form of a document from Social Security, military pension, state retirement, company pension or any other regularly issued disbursement from a financial institution.
If a married couple is applying, the marriage certificate will be necessary and if a single person is presenting, a certificate of single status will be required.
For a trailing spouse or children entering, you will need authenticated birth certificates for all family members.
You must have an original police record check issued by the Federal Bureau of Investigation (FBI) in the United States or other official government policy in the home country covering at least five years. This will also be required for a spouse and children over the age of 18.
A copy of your passport–every page as well as those of all members of your party.

Each document will incur a charge of $30 for authentication if it is a single page, but there will be an additional charge of $2 a page for multiple pages. All of this must be accomplished outside of Panama.

Once in Panama and working with a Panamanian attorney, you will need additional documents and you must apply in Panama personally. There are rules covering this step and include:

An individual must be 18-years-of-age if acting individually or as a primary applicant.
A Registration Form must be on file and you must go in person to the Immigration Office in Panama City.
Health certificate issued by a Panamanian doctor for all members of the application.
Four passport photographs for all members of the application.
Original passport for all members.
Sworn statement about your character which will be facilitated by your attorney, as well as for a spouse and all dependents over the age of 18.
A power of attorney for each member.

Panamanian Pensionado Program

The Panamanian Pensionado Program is considered one of the best in the world and much of it is very good, but it’s not exactly everything it seems. Here’s what you get:

25% discount on utility bills.
30% off all Panamanian transportation such as the subway, boats, railroads or the Metro buses.
25% off all airline tickets.
15% discount on loans made in your name.
A 1% reduction in a locally established mortgage used as your primary residence and made in your name.
20% discount on doctor visits.
15% discount on hospital bills if no insurance is involved.
15% discount on all eye and dental costs.
10% discount on medicines.
20% discount on all technical and professional services.
50% discount on movie theatre, cultural and sporting events.
50% discount on hotels Monday through Thursday and 30% discount on weekends.
A one-time tax exemption for up to $10,000 of imported household goods. This can include a vehicle.
Import tax exemption on a new car every two years.
25% discount at restaurants.
15% discount at fast-food restaurants.

In reality, the program has caveats. The 25% discount on utility bills is routinely used and everyone feels good about the nice discount, but 25% off at restaurants is not as widely used. Many of the restaurants are family-run Mom and Pop shops and expats who can afford it simply pay the regular amount. If the restaurant is located in a hotel, run by a big-name flag such as Marriott, then the restaurant discount should be enjoyed. If you are splitting a hamburger and drinking water, you might hesitate to ask for that 25% discount if the person taking the order, cooking the burger, serving it, and cleaning up is the owner. He/she might pay you not to come in!

The initial $10,000 worth of household goods is a wonderful enticement if you plan on bringing “stuff” from home. Filling a 40-foot container, or even sharing it with another and using 20 feet of space is expensive. You must have professional packers who are certified, eliminating the possibility of packing anything illegal or dangerous. Unloading everything and driving it to your new residence will add to your costs, but having the things you love is definitely benefited by the allowance.

Airline and hotel costs sound good, but rarely actually save you money. The discounts are generally only applicable on the full fare or house rack rates at hotels. Asking for the senior discount at hotels usually ends up less expensive than what the pensionado program would offer. Airlines, unless you are flying full-fare is usually similar. However, if you need to fly out unexpectedly, or during peak times, it can mean a great deal of savings.

Other discounts which are good tend to be all event tickets. These prices aren’t usually very expensive–a soccer match ticket might save you $10 and a $6 movie ticket is nice for $3. The transportation savings is good, but considering the price for a one-way ride on the Metro is twenty-five cents, you’ll pay twelve cents! But, if you are taking the Panama Canal Railway for $25, paying $12.50 is worth the effort.

Medical bills are also a very nice benefit. Eyes, dental and physician visits are all discounted, and make sure to remember to ask for your discount when picking up medications, including over-the-counter. It’s good to get 15% off hospital stays, but it’s better to have health insurance.

Most expats don’t arrange for loans at Panamanian banks, but if they do, one percent can add up. Since the pensionado program is not exclusively for a “senior”, those benefits can be attractive to anyone over the age of 18-years who may be arranging for a mortgage or car loan. It is important to remember you only have to be 18 to apply for the program.

Putting It Together

It may seem overwhelming at first, but just take it one step at a time to get established and everything will come together. It’s important to get as much as possible taken care of in a couple of hectic weeks and then you can get on with leisurely reading, walking the beach, writing that novel, moving up the corporate ladder, volunteering or starting a new business. Panamanians are a kind and warm people and they will help. If needed, there are bi-lingual individuals who will help you negotiate just about anything for a small fee. Utilities can be especially challenging but often better packages are offered if a Panamanian negotiates for you on things like cable. Once you have paid that fee, you will realize benefits each month. For help, consult our “Experts” page.

Things are different in Panama, especially considering there really isn’t a postal system. Utility bills are often times delivered by hand. If you want to pay your electricity, make sure you have cash because they only accept “efectivo”! Most utilities have made it possible to pay on-line so check out that route when you are setting things up.

Many retirees, investors, and expats don’t have the time or desire to furnish their new second home or rental investment and they look for someone to do the shopping, accepting deliveries, and meeting the contractors. These individuals will do everything from making sure your utilities are in order to shop for things such as dishes, cutlery, and pans for the kitchen. Think about flying in and opening your cabinet and it’s filled with everything you need. For suggestions on who to hire, consult our “Experts” page.

Many people also turn over the complete task of decorating the new residence. If you want a blue sofa or only natural fibers, just discuss this with someone, such as AG Furnishings Solutions who provide services for shopping, making sure the cable and electricity are turned on and that all warranties are in effect!
https://agleesonconsultingservices.files.wordpress.com/2020/09/royal-palm-custom-furnishing-solution-2020.pdf.

It is always stressful to move to a different country and set up a life with new rules, so remember to just be kind, make an effort to speak as much Spanish as you can, and don’t be demanding or wound too tight. Remember, manana! You will be in their country so don’t demand they do things the way you are used to, it’s their country and they are doing just fine!

Utilities

It is a bit of a challenge to manage getting all the utilities turned on, installed and negotiated for the best price. There are individuals who will work directly with you and the various companies to do just that. If you want to consider hiring them please visit our Experts page: ______________________. To help you understand, consider these facts:

Telephone

Most everyone has a cell phone in Panama and you’ll rapidly become aware of that because you will get used to dialing a total of eight numbers (as opposed to seven) for cell phones and seven digits for landlines. Businesses are about the only entities which uses landlines. The area code for Panama is 507 and if you are from certain parts of Minnesota, you will share that area code. In August 2019, Movistar and Cable Onda merged and formed a company called Tigo and they are now the largest provider of cable and mobile telephone services in Latin America. They offer good bundling deals, but the other companies are excellent too. Often times which one you select is based on location. https://www.tigo.com.pa/conocenos/quien-es-tigoYou will want to set up a mobile phone in Panama and service will be provided by the following companies:

Claro–507.294.1818 https://www.claro.com.pa/personas/
Digicel–507.306.0600 https://www.digicelgroup.com/pa/es/movil.html
Movistar–507.378.7000 https://www.movistar.com/es/
For a landline, you will need to work with CableOnda at 507.390.7555 or Cable & Wireless at 507.224.1188. Both of these companies will also provide you with cable. (See links below.)

Water

Many residences in high-rise buildings will supply the water as part of the Home Owners Association (HOA) fees. This is good, but it is also used as a penalty if you forget to pay your HOAs on time, they will turn off your water, even if you are not in the residence at the time. However, water is managed by the IDAAN or the Instituto de Acueductos y Alcantarillados Nacionales. Their telephone is 507.523.8567

Bottled Gas

If you purchase or rent a house it is likely you will work with bottle gas and that is supplied by two companies who will come and remove the old canister, deliver and install the new unit. Tropigas at 507.206.0088 or Panagas at 507.216.0155.

Electricity

This is provided by Natural Fenosa and their number is 507.315.7222.

Television

In Panama, you have several options and one is the National TV, which is free and open to everyone. There are about three main channels with variety, sports, and news, along with a grouping of other less popular channels. All of the cable companies offer television and you should work with them when considering your internet and mobile plan. Their contact information is listed below. Sky TV does not offer photo service by has packages aimed directly at individuals interested in sports. Sky TV also offers entertainment and most HBO channels. https://www.sky.com.pa/.

Cable

Panama has a good fast internet connection in Panama City and surrounding areas including the beach communities of Gorgona, Cornado, and Rio Hato, but as you go out into the middle of the country, the internist isn’t as strong. You can secure service from three companies:

Cable & Wireless 507.800.2102 https://www.cwpanama.com/
Cable Onda 507.390.7555 https://www.cableonda.com/

You will be able to manage your account for all these companies on-line but you will also see locals lined up to pay at the bank, some of the grocery stores, and other outlets found in the malls or in satellite offices.

Postal Service

Currently, there is really no postal service or addresses. Do not be surprised if you contact a lawyer and you are told their offices are in the “building across from the Cathedral and catty-cornered from the National Sushi restaurant.” The good news is that taxi drivers and other transportation providers will know exactly where that is located. The difficult thing is that you can’t use that as an actual address. When shopping online, say in the States, companies will expect you to have a Zip Code with five digits. In Panama, regardless of where you live, your Panamanian Zip Code is 00000. Put it in, it works!

The main (only) Panama City post office, Correos y Telegrafos, is located in front of the Don Bosco church in the Calidonia area of Panama City. You will pay less postage than in either the United States or Canada but it will take longer and it’s generally unreliable. Expect a postcard to take 10-30 days from Panama to Europe, the States of Canada. They are open Monday-Saturday 9:00 am to 3:00 pm. Going to the Post Office, which most people never do, provides the definition of “Manana”!

Consequently, if you are a rabid Amazon Prime shopper, or if you just want to get your first class mail, you will need to set up a mailbox in Panama. This isn’t inexpensive, but things are improving rapidly because FedEx now has a larget presence in Panama Pacifico and UPS is expanding daily. As more Panamanians move into the middle class, the push for an Amazon distribution center is intensifying. But until then, consider setting up a mailbox in Miami and then paying extra to have mail flown to Panama. These companies offer services:

UPS/Mail Boxes, Etc.–There are a total of 20 locations around Panama City and more around the beaches area and other major cities that offer the convenience of reliable mail delivery. https://www.ups.com/pa/en/Home.page/
FedEx–Delivers and sends packages, but this is not normally used for personal day-to-day correspondence. https://www.fedex.com/en-pa/home.html
Uno Express–All your packaging needs are offered, but they are a little less sophisticated that some other companies. http://unoexpresspanama.com/
AirBox–This company will deliver to your home and they have three plans from “Super Economy” to “Super Premium”–it’s all based on speed. https://airbox.com.pa/
Air Facility–More directed to packages, you may want to consider this when having larger shipments. They aren’t as convenient or expensive, but less focused on the more mundane deliveries.

Banking

Individuals wanting to open a personal or commercial bank account in Panama will face some extra hoops because of the Foreign Account Tax Compliance Act of 2010, which did not take effect until 2014. This was a very aggressive act that forced other countries to report the financial concerns of US citizens worldwide. This caused many banks globally to not want to open bank accounts for American citizens. Panama will open accounts for US Citizens but it will be difficult.

Consider obtaining the services of a lawyer or other professionals, however you can attempt to go it alone. Visit our “Experts” page for suggestions of professionals who can help with this. It is sometimes much easier to obtain “an introduction to a bank” by a local professional than it is managing the process that does not have set rules and demands.

There are banks which simply will not open an account for foreign nationals so know which ones to approach and don’t imagine it will be anything like one might experience at home. Banks who allow US citizens to have accounts need elaborate compliancy departments. Any US citizen with a bank account of more than $10,000 must declare that to the Internal Revenue Service (IRS) annually and the foreign banks are also required to report names, addresses, identification numbers and accounts to the IRS.

Panamanian banks to consider if you are a US citizen (or a foreign national) include:

Multibank–https://www.multibank.com.pa/es
Banistmo–https://www.banistmo.com/wps/portal/banistmo/personas/
Unibank–https://www.unibank.com.pa/en
Scotia–https://pa.scotiabank.com/es/banca-personal.html
Banesco–https://www.banesco.com.pa/
Citi–https://www.citibank.com/icg/sa/latam/panama/ But only if you have an account “at home”.
BAC–https://www.baccredomatic.com/
Citibank–https://www.citibank.com/icg/sa/latam/panama/ But only if you have an account “at home”.
Banco Azteca–https://www.bancoazteca.com.mx/
Banco national–https://www.banconal.com.pa/ This not the “official” national bank of Panama because Panama does not have a “Central Bank”.

You will need to have your paper work in order, including reducing any debt at home that may flag the Panamanian experts that you may be an individual risk. The banks themselves will have at least three forms of their own. Every bank is different and every bank asks for differing amounts of information. The banks’ forms will include at least:

Bank Account Profile Form (Information each bank deems necessary)
Individual Profile Form (A series of questions about you individually and any co-signatures)
FACTA Form (Foreign Account Compliance Form required by the US Government)

Other documents you will need to have (and translated into Spanish):

Two forms of identification usually a passport and other government ID such as a drivers license (a Panamanian license is better) or original birth certificate notarized.
A bill from a Panamanian utility company to use as address verification.
Two reference letters from individuals you have a relationship within your home country. A judge, medical doctor, minister or someone else with a “title” as neighbors or family members are not acceptable. You must also have the letter of reference addressed to the bank individually, as “To Whom It May Concern” is not acceptable.
At least three months of statements from your current bank showing credits and debits. Be expected to be asked a lot of questions about where you originally received the income, where it has been stored and what you plan to do with it in Panama.
Verification of income. A Social Security statement, retirement account verification and income statement, IRA or annuity.
A reference letter from your “home” bank addressed specifically to the bank to which you are replying.
Something which connects you to Panama such as a property purchase, school attendance, a letter from your attorney indicating you are in the process of obtaining residency, or any type of investment such as a forestry project or business.
An APT form which is the Panamanian requirement to be able to make a credit inquiry by the bank.
Minimum opening balance, somewhere between $100 and $500.

Individuals may also open a savings account, which is a bit less demanding than a checking account. Once the account is taken under advisement, a personal interview will be conducted. You will be asked all types of questions so be prepared to be frank and open about your finances,

If you want to open a business account, we strongly suggest you use an attorney who can help with the paperwork and an “introduction”. You may also obtain a bank account by purchasing a “corporation”, which has an attached account. Since when you purchase an asset, all the asset goes with the new owner, that can be an easy route to a bank account.

If approved, you will receive printed checks, deposit slips, and an ATM/debit card. You will also have the ability to set up accounts with direct payments. Panama has a sophisticated online system and with no postal system, on-line payments are highly preferred.

When you get the call that you have been approved, it is definitely the day you go out for a celebratory dinner or drinks or both!

Where To Live

One of the most important things will be finding the place to live. This will impact everything from the type of healthcare you can access to whether or not you’ll need sweaters, be friends with Panamanians or stick to expats, how much you’ll need to live comfortably and whether or not you’ll eat off the land or in restaurants. You don’t need to purchase property to retire in Panama and it is good idea to rent for a while and make sure of your decision.

There are many condos that have been purchased as investments and retirement in the future. These come in all sizes and with all types of amenities and in locations all over Panama. Consider these brief descriptions of the various areas and then do research for yourself. Selecting your home will probably be the most important thing you consider when considering moving to or investing in Panama.

Coronado

There are a number of residential options available in this community which is the oldest “beach community” in Panama. There are several high-rise towers including Coronado Golf located on a golf course overlooking the Pacific Ocean and Royal Palm directly situated on the ocean with beach access. Located about 50 minutes outside Panama City, it’s full of expats from all across the globe but is especially attractive to Canadians. The standard of living is a bit high, but the amenities make living in Coronado easy. Restaurants are varied and good, it’s easy to get into the “city” for a little getaway and the medical facilities are top-notch. The weather is always warm, but the rainy season isn’t as rainy as most other spots because it is located in the “dry arch” and protected by mountains. Located on the Pacific Ocean, Coronado is a favorite among upscale Panamanians who own a vacation home outside the capital city. There are a string of houses, mostly owned by wealth Panamanians, that line the beach and can only be referred to as “mansions”.

Gorgona

It used to be Neuva Gorgona, but now that it is on the hip and trendy list of residential options, it’s being referred to as just Gorgona. Located ten minutes from Coronado, it has access to everything–grocery stores, healthcare, pharmacies, good restaurants, dry cleaners, and hardware stores. There are a couple of very nice residential towers such as Royal Palm, which is the newest and most luxurious, but the community isn’t there yet! To get to these nice places, overlooking the Pacific Ocean, you must drive through some rough spots. However, as you bump along some less-than-great roads remember everything you are getting for $175,000!

El Valle

This is up in the mountains and much cooler than most of Panama and certainly cooler than Coronado and Gorgona. Think interaction with the locals, some expats but more balanced, great vegetables, a bit harder to get to, laid back and a bit off the grid. While the internet is strong in Panama City, Coronado, Gorgona, and David, there are times in El Valle that it isn’t. Because it is located in the crater of an inactive volcano, the hiking, and rich outdoor life is very appealing for those interested in eco-living.

Panama City

This is a sophisticated modern city with everything you would find in any first-world country. The residential options are everything from a shared room to a multi-million dollar penthouse. There is a subway, a modern water treatment facility, lots of interesting business people from around the world, superior schools, Michelin-starred restaurants, specialty shops, and world-class medical care. There is culture, beautiful views, an active nightlife, an airport with direct flights to place like New York and Istanbul, and plenty of excitement. There is also traffic, congestion, and people. Lots of people. In Panama City, you will have the best of everything–best healthcare, best restaurants, best shopping, best roads, best activities and the highest cost-of-living.

Panama Pacificio

The old Howard Air Force Base has been turned into a planned community that caters mostly to foreign nationals working in Panama City and multi-national corporations. Loaded with residential options that are not high-rise buildings, individuals have a wide range of price points. There is an amazing amount of green space and recreational options for all members of the family. You’ll see lots of domestic helpers and children walking to international schools. The only orthodox Jewish school in Latin America has located here as well as the tri-lingual French School. Plenty of retail spots and restaurants. This is the place to be once the fourth bridge is completed.

David

Much closer to Costa Rica than Panama City, David is an industrial town landlocked, but close to both the Caribbean and Pacific Ocean. It’s the second-largest city in Panama with about 100,000 occupants. There are plenty of expats, but mostly working individuals as opposed to retirees. Plenty of groceries and shopping, there is a lot that makes David worth a look as a place to set up a business.

Boquete

This lovely mountain town about seven and a half hours by vehicle from Panama City. It is beyond lovely with great restaurants and even nicer locals. People with love it or think it’s great for a visit, but not for the long haul. It rains about every half hour a bit of a mist. The prices are much lower than Panama City or Coronado and there is no beach scene, but it is beautiful and full of eco-activities.

Pedasi

Only about 2,500 inhabitants make up this out-of-the-way residential stop. This is an up-and-coming tourist destination, but it is still sleepy with small average restaurants and shops, little to do but enjoy living quietly and taking in the beautiful scenery and Pacific ocean.

Penonome

This is not high on most expats lists of places to live but if belonging to a community mixed with both Panamanians and individuals from Canada, Mexico, the United States and some European countries is something you seek you may want to consider this town of 25,000. You have plenty of big stores, nice restaurants and groceries to easily fill your needs, but you also have tons of local vegetables and protein on offer. It’s not on the beach, but it’s welcoming and embracing. At about three hours from Panama City, it’s pretty much in the middle!