Contact 
Log In 
Deciding to move to Panama is an exciting, life-altering decision. While many people have big dreams, not everyone makes them a reality. So, if you’re excited about moving to a country with ideal year-round weather, a lower cost of living, and a slower pace of life, then it’s time to learn what it takes to make it happen!
Where should you begin when it comes to making your move to Panama?
In this article, we’re going to discuss some essential points to consider, including:
● Eligibility requirements
● Health insurance and medications
● Cost of living
● And more!
Are you eligible to move to Panama?
Before packing up your bags to move to Panama, there are some things to consider. For example, if you qualify for a residency visa,
Tourists from North America can only stay for 180 days as a tourist. You’ll get a stamp on your passport upon entering the country. But you must get a residency visa to live in Panama. You’ll need residency to enjoy the benefits of living in Panama.
You must consider several factors when determining residency eligibility and if Panama will work for you.
Criminal History
You must show a clean national criminal report to obtain a residency visa in Panama. That means if any felonies show up (even from a long time ago), you probably will not be able to get a residency visa in Panama. If you have misdemeanor charges, you may be able to get a residency visa.
If nothing comes up, then great! Move forward with visa options to see if you qualify.
However, if you have a criminal history, you must send your criminal report to your immigration attorney. Generally, a felony will disqualify you from obtaining a residency visa in Panama (and many other countries, for that matter).
Visa Options
Obtaining a visa will be easy if you’re retired and receive social security payments or a monthly pension of at least $1,000 USD. That’s one of the main reasons Panama has such a large expat community of retirees. If you’re married, you’ll need to add $250 to your income to qualify for a Pensionado visa.
The Pensionado Visa is the best option for qualifying retirees. The only catch is that you can’t work in Panama. You can, however, work remotely for a foreign company.
Panama does not accept income from 401 (k) plans, mutual funds, annuities, or employment or rental income. To qualify for the Pensionado visa, you must already receive Social Security benefits, a pension, or military retirement benefits. In some cases, a lifetime annuity will be eligible.
If you don’t qualify for a Pensionsdo visa,other options exist. You can obtain a Friendly Nations visa, but it requires you to either purchase real estate valued at $200,000 or invest $200,000 in a 3-year CD at a Panama bank.
Another Friendly Nations Visa option is to establish a special-purpose corporation. This option is ideal for those who work remotely or who run an online business.
Health Insurance and Medications
Moving to Panama can be challenging due to health insurance options. If you have a pre-existing health condition, you may not qualify for coverage from Panama’s health insurers, even if you hold a visa. Additionally, these insurance companies require that you have received at least three doses of a COVID-19 vaccine. While other insurance options are available, they are more expensive and only cover medical emergencies.
Without health insurance, paying out of pocket can be expensive, especially if you require frequent medical attention or procedures. Medical emergencies like heart attacks, cancer treatments, unexpected surgeries, and other unforeseen medical issues could be financially devastating without health insurance.
If you’re a US citizen and have the right Medicare Advantage plan, it will cover medical emergencies in Panama. Some hospitals offer direct billing, so you don’t have to pay up front and then file your own claim.
Public healthcare in Panama is available to those who don’t qualify for private health insurance. While more affordable, it may come with long wait times and sometimes lower-quality facilities. A regular doctor’s visit costs $2, and seeing a specialist costs $5. It’s important to note that public hospitals typically do not perform surgeries for foreigners who have not contributed to Panama’s Social Security system. So, the public hospital system is not a good option for many major emergencies, like a heart attack.
If you rely on certain medications, you must ensure they’re readily available in Panama and research their cost. You can check the availability and costs here. Unfortunately, obtaining certain medications can be costly, so conducting thorough research is crucial before investing in a visa. You can schedule a telemedicine visit with a Panamanian doctor before you come to Panama to help you determine whether your medications will be available.
During an all-inclusive Panama Relocation Tour, we always visit a pharmacy so you can check on the availability and price of your medications in Panama. We also set aside time one afternoon for you to meet with a Panamanian doctor to review your medical conditions. Knowing you can access high-quality medical care in Panama will give you peace of mind about moving there. Of course, you’ll also get detailed information about health insurance options in Panama during an all-inclusive Panama Relocation Tour.
Do You Have Pets?
If you have pets, you will want to bring them to Panama. In most cases, they can come with you on the plane if they are small enough to fit in a carrier under the seat in front of you or in cargo. If your pets are too big for cargo, you must use a pet relocation service or a shared charter flight to bring them to Panama. It will cost about $5,000 to use a pet relocation service (pets are placed in cargo), and $8,000 for a shared charter flight where your pet (regardless of size) can fly in the cabin with you. See the prices of transporting your pets in cargo below. Your pet must be able to stand up in the carrier. When you’re preparing your budget to move to Panama, factor in the cost of transporting your pets.
Thousands have moved to Panama with their pets, and you can too. It’s easy to get your pets into Panama.
You should find a pet-friendly rental before moving your pets to Panama.
Working in Panama
Getting a job in Panama is not so easy. Wages are much lower than those in your current role. Multinational companies pay the highest salaries, but securing employment in Panama can be challenging. Foreign nationals require a work permit to work in Panama. You cannot obtain a work permit with a Pensionado visa.
Certain professions, basically anything that requires a license, are protected for Panamanians only. Foreign nationals are not permitted to work in these professions, regardless of their qualifications. In most cases, Panama permits only 10% of a company’s workforce to be foreign nationals. Most jobs will require that you speak Spanish.
Before you move to Panama to get a job, talk with an immigration lawyer to determine if you can work in your profession in Panama.
Working online or remotely for your current employer may be a better option if you’re not retired or don’t have a pension.
Cost of Living
A more affordable cost of living could be what attracted you to Panama in the first place: a much lower cost of living than where you currently live. Many retirees are also drawn to Panama for its culture, natural diversity, and quality of life at a reasonable cost.
For example, you may think that having a terrace with an ocean view is well beyond your budget. Well, in Panama, it could easily be your reality. You might even have a picturesque mountain view like the one at the bottom of the page!
Where you live and how you live in Panama will determine your cost of living. Some places are more affordable than others. Areas with a high concentration of foreigners will usually cost more than areas that are primarily Panamanian. The good news is that there is a perfect place in Panama to fit any budget. It’s essential to develop a realistic budget for Panama and find a place to live that fits it.
Let’s check out a quick snapshot to better understand the monthly cost of living in Panama:
● Panamanian meal for one: $6 USD other restaurants can be $10-$15 per meal
● Normal taxi: $2-$4 USD
● 1-bedroom Panama City furnished apartment rent: $1000 USD
● High-speed internet: $36 USD
● Panama health insurance: $117 per month (60-69 year old)
According to Numbeo, the cost of living in Panama is 34.5% lower than in the U.S. When setting a realistic budget, factor in your income and lifestyle.
You’ll also need to consider the cost of relocating to Panama. Even if you moved across town, there would be upfront costs to settle into a new location. Moving to Panama will entail expenses for obtaining a visa, securing housing, perhaps shipping household goods, or bringing a pet. Read this article for estimates of the upfront costs of moving to Panama.
Research, Research, Research!
Before moving to Panama, you should visit Panama to ensure it’s a good fit!
Weather and budget will be the two determining factors. Your budget may exclude some areas due to the higher cost of living. But there are other, more affordable options.
Some think they want to live at the beach, but after visiting Panama, they determine it’s too hot or humid. Others think a beach lifestyle is perfect.
Some think they want to live in the mountains, but after visiting, they determine it’s too cool. Others think living in the highlands is perfect.
Only YOU can determine what’s best for you.
The only way to determine which area is best is to visit Panama. An all-inclusive 6-day, 7-night Panama Relocation Tour makes your exploratory trip easy! You’ll visit Panama City, the beach, and the mountain areas to help you decide which area suits you best.
Even before you come to Panama, there are some things you can do to research living in Panama:
Watch videos on the Panama Relocation Tours YouTube Channel to help you get more familiar with different areas in Panama. We have expat interviews during our weekly Livestreams and monthly Retire in Panama Q&A Livestreams.
You can also read the Panama Relocation Tours blog articles to familiarize yourself with different areas and how things are done in Panama.
An all-inclusive 6-day, 7-night Panama Relocation Tour is a good way to see many different areas, learn about amenities, where the closest hospitals are, and learn more about what you need to know for a hassle-free move to Panama. By the end of the tour, you will likely know exactly where you want to move and have complete confidence in relocating to Panama.
Once you do this research and visit Panama, you’ll get a better feel for where you want to live in Panama. I’m pretty sure you’ll love Panama! But if not, it is better to know now before proceeding with the entire visa and relocation process.
Ready to Move to Panama?
As long as you’ve ticked off all the eligibility requirements, you’re ready to plan your scouting trip to Panama.
Remember that you don’t have to visit Panama alone!
Since 2010, Panama Relocation Tours has helped thousands of people relocate to Panama. We’ve helped thousands of people have a smooth move to Panama. We can help you too.
We have the experience you can trust… and need!
We also offer ongoing support before, during, and after your move to Panama when you join an all-inclusive 6-day, 7-night Panama Relocation Tour or purchase the Online Complete Panama Relocation Guide.
We’ll help make your move EASY!
See details about Panama Relocation Tours HERE.
Make your dream of living inPanama a reality! When you’re ready, we’ll be here to help.
This is what Denise had to say about their Panama Relocation Tour:
Take This Tour !
Just completed our Panama Relocation Tour and all can say … it was fabulous. So much important information to make your move to Panama easy breezy.
It takes the worry out of a big step. They have gathered all the necessary requirements and put them down in black and white…. Follow the steps and your move here will make in enjoyable.
They feed you all meals, hotel stays and Q&A the entire trip. Highly recommend this trip to anyone thinking of moving and/or retiring to beautiful Panama. From beach to mountain you will experience all climates .
Plus, you meet some really nice folks along the way.
See other testimonials on TripAdvisor, Facebook, our website, and YouTube.
