Panama
Republic of Panama · Capital: Panama City
Panama is a long-standing expat and retiree hub: it uses the US dollar, taxes only locally-sourced income (territorial system), and offers the renowned Pensionado program plus the Friendly Nations and Qualified Investor routes. Panama City is a modern banking and logistics centre around the Canal.
Migration statistics
Who is arriving
Top source countries and the make-up of recent arrivals into Panama.
Policy overview
7 visa routes into Panama
Eligibility, fees, processing times and whether each route leads to permanent residence.
Pensionado (Retiree) Visa
InvestorPensionado
The famous retiree visa: permanent residence for those with a lifetime pension above the threshold, plus generous discounts on many services.
Eligibility
- Verifiable lifetime pension of $1,000+/month
- Clean record
- Health certificate
Document checklist (8 items)
Core
Professional
Financial
Background
Friendly Nations Visa
SkilledFriendly Nations
Residence for nationals of ~50 'friendly' countries via a local job offer, business, or a qualifying property/deposit.
Eligibility
- National of an eligible country
- Job offer, business, or property/deposit (USD 200,000, in force since 2021)
- Clean record
Document checklist (11 items)
Core
Professional
Financial
Background
Qualified Investor Visa
InvestorQualified Investor
Fast permanent residence for a qualifying investment in real estate, securities or a fixed deposit. Executive Decree 17 of 2026 (Gaceta Oficial 30613, in force 16 September 2026) replaced the earlier rules and split the property threshold between new and resale homes.
Eligibility
- USD 300,000 in a new property bought from the developer, or USD 500,000 for a resale property
- Or USD 500,000 in qualifying securities
- Or a USD 750,000 fixed deposit (USD 500,000 at Banco Nacional or Caja de Ahorros)
- Lawful source of funds and clean record
Document checklist (10 items)
Core
Professional
Financial
Background
Work Permit
WorkWork Permit
Employer-sponsored work authorisation, subject to Panama's foreign-worker quota rules (generally up to 10-15% of staff).
Eligibility
- Job offer from a Panamanian employer
- Within the company's foreign-worker quota
- Relevant qualifications
Document checklist (10 items)
Core
Professional
Background
Remote Worker
Short-term residence for remote workers employed by, or contracting with, companies outside Panama.
Eligibility
- Remote work for foreign companies
- Annual income above ~$36K
- Health cover
Document checklist (8 items)
Core
Professional
Financial
Background
Student Visa
StudentPA-STU
Study at an accredited institution, usually with limited work rights and a post-study route.
Eligibility
- Acceptance from an approved institution
- Proof of funds for tuition + living costs
- Health cover
Document checklist (9 items)
Core
Professional
Financial
Background
Family Reunification
FamilyPA-FAM
Join a spouse, partner or close family member who is a citizen or resident.
Eligibility
- Genuine relationship to a citizen/resident
- Sponsor meets income/housing rules
- Relationship evidence
Document checklist (9 items)
Core
Professional
Financial
Background
Economic context
The numbers behind the move
Pay reflects the local market in Panama, what you'd typically earn there, not your current salary.
Skill shortages
Sectors actively recruiting from abroad
Where Panama needs foreign talent most, and what those roles pay.
Banking & finance
A regional banking and logistics hub needs finance and compliance staff.
Logistics & maritime
Canal and free-zone trade drive maritime and logistics hiring.
Technology
A growing regional-HQ tech and shared-services base.
Recent changes
What's changed lately
Recent policy changes that affect migrants, newest first.
- TighterSep 16, 2026 · 27 days ago
Qualified Investor rules replaced (Decree 17 of 2026)
Executive Decree 17 of 8 September 2026 (Gaceta Oficial 30613) replaced Decree 722 of 2020. The property minimum stays USD 300,000 for a new home bought from the developer but is USD 500,000 for a resale; securities need USD 500,000 and fixed deposits USD 750,000, or USD 500,000 at Banco Nacional or Caja de Ahorros.
USD 300,000 for any propertyUSD 300,000 new, USD 500,000 resale
Quality of life
What living there feels like
Panama City
USD economy & bankingA dollarised banking and logistics hub with a modern skyline and easy residency routes.
- Cost index
- 58
- 1-bed rent
- $1,200
- Quality
- 76
Boquete
Cool mountain climateSpring-like mountain climate and a large retiree community with strong Pensionado perks.
- Cost index
- 48
- 1-bed rent
- $800
- Quality
- 80
Coronado
Beach commuter townA popular beach community within reach of the capital, favoured by retirees.
- Cost index
- 52
- 1-bed rent
- $900
- Quality
- 78
David
Affordable regional hubPanama's affordable third city, a practical base near both beaches and the highlands.
- Cost index
- 45
- 1-bed rent
- $650
- Quality
- 74
Living essentials
The practical day-to-day of settling in Panama.
Good private hospitals in Panama City (some US-affiliated); affordable.
International and bilingual schools in the capital; US-style private universities.
Moderate; dollarised economy, with the capital pricier than the interior.
Reliable in the city; decent in expat towns like Boquete.
Tropical, hot and humid lowlands, cooler in the highlands.
Safety & climate
The reception you can expect
How welcoming the public and political mood is, how safe it is, and how geopolitically stable the country is right now.
Anti-migrant sentiment
trendWelcoming and expat-oriented; stable USD economy with some recent political protest activity.
Higher = more hostile public/political climate.
Geopolitical stability
A composite of governance, security and regional-risk signals. Higher means a more predictable environment for settling long term.
Higher = more stable.
Safety
Safer than much of the region; normal big-city caution in parts of Panama City.
Higher = safer (crime index 36/100).
Where to live
Which Panama city fits you?
Cities matched to who you are, career, family, retirement, study or remote work. We flag the ones to consider and the ones to approach with care.
Boquete
Highland expat haven
Spring-like mountain climate and a large retiree community with strong Pensionado perks.
Panama City
Hub of the Americas
A dollarised banking and logistics hub with a modern skyline and easy residency routes.
Coronado
Pacific beach living
A popular beach community within reach of the capital, favoured by retirees.
David
Laid-back lowland city
Panama's affordable third city, a practical base near both beaches and the highlands.
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