Move To Panama; The Requirements
Last Updated on August 16, 2025 by Retire in Panama
Are you considering taking the plunge and moving to Panama? Panama is a beautiful country with many opportunities for those looking to make a new start. However, before you can move to Panama, you need to know the requirements and what it will take to qualify.
In this article, we will go over the requirements for moving to Panama, the options for obtaining your Panama residency visa, the cost of moving to Panama, finding housing there, and living in Panama as an expat. With this comprehensive guide, you will be prepared and ready to make the move to Panama.
Move To Panama- Why Would You?
There are many reasons why people want to move to Panama. Social and economic benefits include:
- A higher quality of life.
- Lower cost of living.
- No additional tax obligations for retirees.
- Great weather all year round
- A new experience for the next chapter of your life
Here are some more specifics:
– Panama has a high quality of life. The average income is high compared to other Latin American countries, and the cost of living is low. This means you can enjoy a comfortable lifestyle without sacrificing too much money.
– Panama has a low cost of living. An expat can live in Panama comfortably from as little as $1500 a month for a single or $2,000 for a couple. Of course, you can live on more, depending on your housing needs and lifestyle.
Panama is safe. It has one of the lowest crime rates in Latin America, and in most expat communities, you will not see a lot of crime. Additionally, the country has strong police forces and comprehensive security measures to protect its residents from crimes.
Living in Panama doesn’t mean sacrificing your cultural heritage – the country boasts several thriving cultures, including indigenous tribes and descendants of European settlers who arrived centuries ago. Whether you’re interested in learning more about Panamanian history or culture, something that appeals to your interests will be available.
Panama is very accepting of other cultures, and with the history of the United States and the Canal, North Americans are very much accepted here.
Requirements For Your Move To Panama
So you’re thinking of moving to Panama. Panama is a great place to live and work. Still, you’ll need to meet specific residency requirements to be eligible. In that case, knowing the requirements to live or work in this beautiful country is essential. Below, we will outline the required documents and information you’ll need to move here.
First, you’ll need a valid passport from your home country. Most countries can visit Panama without a tourist visa, but here is the list to be sure.
Passport holders from the USA and Canada can stay in Panama for 180 days. For most other countries, it will be 90 days. This is good, as it will give you an excellent chance to check out Panama to see if it is a country you want to move to.
If you want to live in Panama permanently, you will need a Resident Visa. There are many options here, but the basic requirements are either a lifetime pension, an investment in Panama, or a job offer from an existing Panamanian company. Here, you can read about the Panama Immigration Visa Options.
In addition to the above, you will need a clean criminal background check from your home country’s national police force, a marriage certificate if you are applying as a married couple, and birth certificates if you are applying with dependants. A Panama immigration lawyer is required to apply for any immigration visa in Panama. They will guide you through the paperwork process. For most Visas, you must appear in Panama for the process.
If you have something on your criminal background check, confer with your Panama lawyer about what you can do about it. A past DUI or bar fight when you were 18 may not affect your immigration application.
Move To Panama: Panama Residency Visa Options
If you’re interested in living in Panama, several options are available. Let us look into the most popular visas in Panama.
The Pensionado Visa is by far the most popular Visa in Panama. Regardless of age, anyone receiving a lifetime pension of more than $1,000 US monthly can qualify for this visa. It goes up to $1,250 if applying as a couple. Only one of the couples needs to be receiving the pension. You can combine two smaller pensions to reach the $1,250 qualification if you are a married couple.
You can read more about the Pensionado Visa here.
If you do not qualify for the Pensionado Visa, the next most popular visa is the Friendly Nations Visa. The Friendly Nations Visa has three ways to qualify.
1.) Receive a job offer from an existing Panama Company with a government profile history and receive a work permit.
2.) Invest $200,000 US in real estate in Panama. Plus, an additional $2,000 per dependant
3.) Deposit $200,000 US in a Panama Bank-certified deposit. Plus, an additional $2,000 per dependant.
The process takes just over two years and involves two applications. First, you need your temporary visa, and then, after two years, you will need a second application for your permanent visa. You must still have the job, real estate, or certified bank deposit to qualify for the Permanent Visa.
Another option is to invest in real estate. By doing this, you can gain permanent residency status and enjoy the many benefits that come with it, such as tax breaks and access to government services. Additionally, by investing in real estate, you’ll be helping to create new jobs in Panama – something that’s always important!
Panama has many other visa options, although the two above are the most popular. Talk to a Panama Immigration Lawyer about your options.
Cost Of Your Move To Panama
When it comes to moving, everyone has their own unique set of costs and expenses that they are concerned with. Whether you’re looking to move for a job or retirement, it’s essential to understand the cost of moving to Panama before deciding. Below, we will outline some moving expenses to this Central American country.
First and foremost, it is crucial to understand the cost of living in Panama. Depending on where you are coming from, the savings could be significant, and for some, living here might cost the same.
The housing, of course, will be your most considerable expense. If you are moving from rural Iowa, that will be very different from North Phoenix. The difference between these two places and the median home price is several hundred thousand dollars.
One significant expense you need to consider is healthcare. Everyone is different here; some of you are paying high health insurance costs, some are on Medicare, and some are from countries with socialized healthcare systems. You will need private insurance if you want North American quality health care in Panama. International health plans can cost $3,000 annually for someone in their 60s. Check thoroughly into The Health Care System in Panama and Your Health Insurance Options before moving to Panama to see your costs.
Move To Panama: Finding Housing In Panama
Finding housing in Panama can be daunting, but with the help of the right resources, it can be easier than you think. What usually works out best for most people is to secure a short-term rental when you first come here to start your immigration process. Then, start looking for a long-term solution. It is advisable to rent for the first six months to a year to ensure you like the area where you have chosen to live.
The price of rentals in Panama varies significantly for many reasons. They can be city or country, beachfront or some distance from the beach, Panamanian or North American styles. It would help if you decided how you want to live, and your budget may determine where you can look. Rentals are available in Panama from $400 to $5,000 a month, so there is something for everyone.
Renting a long-term place on sites like Facebook or Craigslist and sending a deposit down here before you come is usually a terrible idea. You can, however, enlist a qualified rental agent to help you find that perfect rental to move into when you get here. Airbnb is an excellent option for finding your short-term rental.
Consider reputable sources when looking for rentals or real estate resources to search for housing in Panama. This means researching companies before putting any money down. Also, get a Panama relocation expert to assist, advise, and give you qualified referrals. You may be surprised at the importance of accurate information when looking for rental properties or houses in Panama. Beware of social media trolls looking to scam you out of your money.
Finally, before deciding whether to buy or rent a property in Panama, it’s essential to understand your budget and needs. Research neighborhoods that fit your preferences before deciding – this will help you avoid wasting time and money on an unsuitable property.
When viewing real estate, remember that Panama has an MLS; you can find it here. There may be a reason why the real estate company is off Panama’s MLS.
Move to Panama As An Expat
Moving to Panama can be an exciting and life-changing experience. With its warm climate, low taxes, and beautiful scenery, Panama is ideal for those looking for a new start. However, before you make the move, it is crucial to understand the requirements and costs associated with relocating here. Start planning your move today, and let Retire in Panama assist you in finding that perfect place in Panama to call home.
It’s more than a tour . . it’s an experience.
