Top 10 Reasons for Moving to Panama

A few years before moving to Panama I bought a house on a private 500-acre lake in East Texas.  It had been my dream to have a lake house so I could escape the concrete jungle of Dallas, Texas.  I really thought I’d be at that lake house forever.  But summers in Texas can be a brutal 115 degrees, and winters, complete with ice storms, can get down in the 20s.   A very high utility bill every month was the norm.

So, when I decided to move away from the United States, my number ONE criterion was to find a place where I could live where I’d never need an air conditioner or heater again.  Beautiful scenery would be a plus.

I found both in Boquete Panama… plus many more benefits!

After moving to Panama, friends started asking me how to move to Panama, too. I did a tour for eight real estate investor friends in 2010. I thought that would be the only tour, but others started asking me how to leave the USA and move to Panama. So I did another tour, then another. By accident, in 2010, Panama Relocation Tours was born.

Since 2010, Panama Relocation Tours has completed more than 220 relocation tours and helped thousands of people relocate to Panama hassle-free. We’re the Panama Relocation Experts!

After talking to thousands of people considering moving to Panama, these are their 10 top reasons for considering a move to Panama, and why moving to Panama is smart!

1.     More affordable living. Many have said that if they stay in the country where they live now, they will need to work for the rest of their lives.  Most of their biggest expenses are health care and taxes (including property and Federal and State taxes).   My international health insurance is $2200 per YEAR, and it covers me in the USA, Panama, or any other country.  I have zero property taxes in Panama for my purchased house and property.  Instead of $400 per month for electricity and $70 per month for water, I now pay closer to $25 per month for electricity and $100 per year for water.

2.    Weather.  No more snow to shovel. No more hot summers.  Harsh weather plus soaring utility costs, including water bills, are causing many to look beyond their borders for a better place to live. Air quality is an important factor, too.   There is no snow in Panama.  But if you don’t like the heat, you must stay away from Panama City and other towns close to the coast.  In Panama, you can select your ideal temperature by changing your elevation.

3.    Get away from constant political conflict and tension.   Panama has very little division or conflict.  For the most part, everyone is on the same page to keep the economy moving in the right direction, create jobs, keep debt at a minimum, and encourage investments.   There is no far-left or far-right agenda in Panama.  Everyone has shared values!  It is a very refreshing change!

4.    A more stable economy. Panama is one of the fastest growing economies in the Americas, greatly influenced by the famous canal connecting the Atlantic and Pacific Oceans and business-friendly regulations. In 2022, Panama saw its GDP rise to 9.5 percent.   Of course, the pandemic has hurt Panama’s economy, but the World Bank estimates that Panama will rebound. As a bonus, Panama is a neutral country! Panama does not have bases nor participate in military conflicts in other countries.

5. FREEDOM! Fewer government rules, regulations, and taxes which affect every aspect of your life.   It’s easy to set up a business in Panama.  You’ll need to get a business license, a work permit, and pay taxes if you earn money in Panama.  But the taxes and rules are much less than in the United States, where I moved from.  I also had companies in the US, so I have something to compare business in Panama.   Capitalism is alive and well in Panama and welcome. Taxes, especially property taxes (if there are any), are very low. You don’t even need a license to go fishing in Panama!

6.    New adventure. Get away from the same old, same old.  Panama is appealing because it is a small country with so much diversity.  You can be at the Pacific Ocean, the mountains, and the Caribbean Sea all on the same day ….without getting on an airplane.  If you time it right, you could drive to Costa Rica the same day too!  There are so many social activities and charity organizations you can get involved in too – you will never be bored in Panama!

7.    New opportunities.   There is so much opportunity in Panama!  Many of the conveniences you are familiar with in your country may not exist in Panama… which spells an opportunity to provide that product or service to a brand-new audience in Panama. A few examples: One lady offers shopping services for those new to Panama. A guy helps people set up their Amazon Firestick to view movies, news, and sports from their country. Warning: A foreigner needs a work permit to work in Panama, and many professions are protected for Panamanians only, so discuss your plans with your attorney before moving to Panama.

8.    Avoid racial conflicts.  Apparently, this is a real problem in many countries.  Luckily, in Panama, everyone gets along regardless of race or religion.  For hundreds of years, people from all over the world have been moving to Panama.   Originally, it was to help build the Panama Canal.  Now, it is for the opportunity to retire in such a beautiful country. Everyone is welcome in Panama!

9.    Move to a country where there is personal responsibility!  Panamanians are proud to work for a living.  If they cannot work, their family helps them until they get back on their feet.

10.    Experience a less stressful way of life.  Tranquilo!  This is a combination of all ten reasons rolled into one.  By removing the stress of high living costs,  economic instability, political conflict, racial conflict, government regulations, hot or cold weather, fresh air, etc. … combined with more adventure and opportunity… You can live a better quality of life in Panama with less stress.

There are many other reasons for moving to Panama, but these are the top 10 reasons my tour guests have given.

What’s your reason for considering a move to Panama?

Panama Relocation Tours offers THREE WAYS to help you have a smooth, hassle-free move:

1. Our all-inclusive 6-day, 7-night Panama Relocation Tours will help you explore all the most popular places to live in Panama, show you rentals, meet experts and expats, and learn everything you need to know to move to Panama.

2. Our Private Panama Relocation Tours are the perfect way to dive deep into a town(s) you are interested in. The private tour guides have lived in the area for a long time and will show you what it’s like to live there. These are customized tours to see the things you are most interested in.

3. The Online Complete Panama Relocation Guide is like a “home study course” with all the information you need to know to move to Panama.

Regardless of which path you decide to take, you’ll also get access to our ongoing support before, during, and after your move to Panama.

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