Do I only pay taxes in Panama if my company is registered here?

It depends on your activities, tax residence, and applicable double-taxation treaties. We evaluate your case to offer the best strategy.

Can I remain anonymous as a shareholder or director?

Panamanian law allows the use of nominee directors and fiduciary structures, although international transparency and AML standards must be followed.

How long does it take to obtain permanent residency?

Processing times range from 3 to 6 months, depending on the visa type and documentation readiness.

Can foreigners buy property in Panama?

Yes, foreigners can buy property almost anywhere in the country (except restricted border zones). Property ownership rights are the same as for citizens.

What are the tax benefits of living in Panama?

Panama uses a territorial tax system — only income earned inside Panama is taxed. Foreign pensions, dividends, remote work income, and capital gains from abroad are completely tax-free for residents.

Can I open a bank account in Panama as a foreigner?

Yes. With the right documentation (passport, proof of income, references, and a valid Panamanian residency), foreigners can open personal and corporate bank accounts at major Panamanian banks. Our team guides you through the entire process.

What is the Digital Nomad Visa in Panama?

Panama's Short Stay Visa for Remote Workers allows digital nomads to live in Panama for up to 9 months while working remotely for foreign companies. Requirements include proof of remote employment or freelance income and health insurance.

How much money do I need to retire in Panama?

With the Pensionado Visa you need a minimum pension of $1,000/month. Living costs in Panama City range from $1,500–$2,500/month for a comfortable lifestyle, making it one of the most affordable retirement destinations in the Americas.

World-Class Living

From the modern skyscrapers and international dining of Panama City to the colonial charm of Casco Antiguo, the mountain towns of Boquete and Volcán, and Caribbean and Pacific beach communities, Panama offers a wide range of lifestyles at a lower cost than most of the US, Canada, or Western Europe — all while keeping first-world infrastructure and healthcare within reach.

Book Free Consultation via WhatsApp

Key Facts

Established Expat Communities

Cities like Panama City, Boquete, Coronado, and Bocas del Toro all have well-established expat and retiree communities, making it easier to settle in.

Lower Cost of Living

Housing, dining, and everyday expenses are generally more affordable than in the US, Canada, or Western Europe, especially outside Panama City's most exclusive neighborhoods.

Modern Infrastructure

Panama City offers first-world amenities — modern hospitals, shopping malls, and a growing metro system — alongside easy access to nature and beaches.

Variety of Lifestyles

Whether you prefer a high-rise in the financial district, a colonial home in Casco Antiguo, a mountain retreat in Boquete, or a beach town on either coast, Panama offers distinct lifestyle options within a small country.

Frequently Asked Questions

Is Panama affordable to live in compared to the US? +

For most people, yes. Housing, groceries, dining out, and domestic help typically cost significantly less than in the US or Canada, although costs vary by city and neighborhood — Panama City's most exclusive areas can be comparable to major US cities.

Is there a large expat community in Panama? +

Yes. Panama has attracted retirees, entrepreneurs, and remote workers from the US, Canada, and Europe for decades, with especially well-established communities in Panama City, Boquete, Coronado, and Bocas del Toro.

Is healthcare in Panama good enough for retirees? +

Panama City has several modern private hospitals with US-trained specialists, and many are used to treating international patients. Healthcare quality and availability outside major cities is more limited, which is a factor retirees often weigh when choosing where to settle.

Ready to Start Your Panama Journey?

Book a free 15-minute consultation and our attorneys will confirm which visa fits your situation.