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Because of the pandemic, many businesses allow their employees to continue working from home even though some offices are partially open again. All you need to be able to work from home is a good internet connection. You can use Zoom or Skype to stay in touch with the office.
Your “home” can be in Panama!
There could be big tax savings for you if you’re working from home in Panama. I’ll explain more below.
You may want to permanently move your company to Panama to reduce your taxes and have a better lifestyle.
If you’re working from home, why continue living close to the office? Or close to the city? Or the same state? Or even the same country?
You could live anywhere!
If going into the office is no longer necessary, you could work from home in Panama. Many areas in Panama have fiber optics with 100-600 Mbps internet!
You may be able to significantly reduce your housing costs by moving to Panama, even if it’s just for a year or two. You can get a nice furnished two-bedroom condo facing the Pacific Ocean in Coronado for about $1200 a month. Imagine waking up every morning to walk on the beach before you start your workday.
Or you could live on Balboa Avenue in Panama City with an ocean view for a furnished apartment for about $1200 a month. There is so much to see and do in Panama City. You’ll find plenty of others working from home in the City, too, and they have frequent get-togethers.
The laid-back lifestyle in the heart of cultural events in the Azuero Peninsula may be more your style. You can get a great furnished two-bedroom house close to town for $600 a month or live in a beach community about 10 minutes outside town.
If you prefer cooler Spring-like weather where you don’t need an air conditioner, you could live in Boquete, surrounded by spectacular mountains ideal for hiking, for about $800 a month for a furnished two-bedroom house.
If you love the beach, surfing, and diving, you may want to try living on the Caribbean side of Panama in Bocas del Toro. It has a bohemian vibe.  Recently, I’ve seen cute furnished two-bedroom houses close to the beach for about $700 a month.
Panama is a small yet very diverse country. So you may want to try several different areas in Panama instead of just picking one!
How to Pay No Taxes!
A bonus, if you live in Panama and you’re a United States citizen, you could qualify for the Foreign Earned Income Exclusion, which means you pay NO TAXES in the United States on the first $126,500 of your income (2024 rate).  (sorry, the FEIE is only available to people from the US). And you would not owe any taxes in Panama. You get to keep every single penny you make! (check with your CPA or the IRS website for details about qualifications for the Foreign Earned Income Exclusion)
Move To A Place Where You Can Reduce Taxes Too!
If you work remotely from your home in Panama, you will not need a work permit. But you must get a residency Visa to live in Panama full-time. Panama has a special Friendly Nations Visa that would be ideal. Tourists can stay in Panama for six months (if they’re not driving).
Miami is less than a 3-hour flight from Panama City, but you must be careful not to be in the United States for more than 30 days, or you will lose your Foreign Earned Income Exclusion.
While you can work from home, why not work from home in Panama? You can also reduce your cost of living, reduce taxes, and explore how amazing life is in Panama. It’s the best of both worlds.
While you’re working from home in Panama, it’s also a great way to check out Panama for a potential place to retire to!
What are you waiting for?
Move to Panama to LIVE BETTER for LESS…and reduce taxes too!
We can help!
Join us for an all-inclusive 6-day, 7-night Panama Relocation Tour to discover where YOUR paradise is in Panama while learning how to move to Panama the RIGHT WAY!
The Online Panama Relocation Guide has all the information you need for a smooth, hassle-free move to Panama! Yes, you can bring your pets too!
Great article… do you know if the Foreign Earned Income Exclusion is available for Canadians as well?
The Foreign Earned Income Exclusions is only available to United States citizens. However, Canada has a similar program that you can eliminate or greatly reduce taxes if you go to a non-resident status. Consult with your Canadian CPA for more details about the non-resident status.
Hi Jackie,
I am a 30+ year veteran Realtor in Canada looking for an opportunity to “switch gears”. What you have created with Panama Relocation Tours and helping people re-locate is so inspirational. I have a loyal client base of over 100 who are around my age(55) and I want to offer them options like you.
My husband works for Cargill(US Based) and turning 60 years old in April. He can work remotely from anywhere, so, we are mobile. We would love to do your tour, but it appears to be booked up into next year! I’m on the waiting list, but eager to make a move anytime. I know you are busy, but I would love to connect with you personally.
HI Angie
Thanks for your interest in Panama Relocation Tours. We’ll let you know when we get an opening for a 2022 tour. We also offer Private Tours for the most popular places to live in Panama. see details at https://panamarelocationtours.com/private-tours
Your husband can work remotely without getting a work permit in Panama. Foreigners are not allowed to work in Panama unless they have a permanent visa, Cedula, and a work permit.
Y como podrÃa hacerlo si soy de Chile?
Solo funciona para ciudadanos estadounidenses
I will be in Panama City the 13th for a week would like to talk to someone about living there
Howard, you might want to consider taking a Private Tour of Panama City to learn more about the area and about living in Panama. The tour guide is an expat from California. See details at https://panamarelocationtours.com/private-tours