Panama
Territorial taxation and a retiree-friendly visa program.
Overview
Panama's territorial tax system and the Pensionado visa program make it attractive for retirees. USD-based economy simplifies financial planning for US-origin relocations.
Planning readiness
Travel advisory coverageCost of living coverageCurrency reference coverageQuality of life coverageTax analysis coverageVisa summary coverage
At a glance
Language
- Spanish(Official)
Population4,516,000
CurrencyUnited States Dollar (USD)
1 USD = 1.3962 AUD
1 AUD = 0.7162 USD
Popular places
Panama
Cost of living
Numbeo publishes these source indexes relative to New York City.
Cost of LivingPotentially much less expensiveSource category: All | 2026
RentPotentially much less expensiveSource category: Rent | 2026
GroceriesPotentially less expensiveSource category: Grocery | 2026
RestaurantPotentially much less expensiveSource category: Restaurant | 2026
Local Purchasing PowerMuch weaker local purchasing powerSource category: Purchasing Power | 2026
Sources
- Numbeo Cost of Living Index
Quality of life
Quality of Life IndexStrongSource category: Quality Of Life | 2026 | Overall quality of life index
Healthcare IndexGenerally favorableSource category: Healthcare | 2026 | Healthcare quality index (100 = best healthcare)
Crime IndexModerateSource category: Crime | 2026 | Crime index (100 = highest crime)
Safety IndexMixedSource category: Safety | 2026 | Safety index (100 = safest)
Pollution IndexModerateSource category: Pollution | 2026 | Pollution index (100 = most polluted)
Traffic IndexHighSource category: Traffic | 2026 | Overall traffic index (considers time + inefficiency + CO2)
Sources
- Numbeo Cost of Living Index
Entry requirements
Visa and residency reference data is available for Work (Employer-Sponsored), Permanent Residency, Investor, and 4 more.
Work (Employer-Sponsored)
- 10% Ordinary Personnel Residence Permit
SNM residence permit for foreign personnel hired by private companies within the 10% ordinary-personnel quota.
- 2 years
- Path to residency
Permanent Residency
- PAÍSES ESPECÍFICOS Permanent Residence
SNM permanent-residence follow-on route for nationals of specified countries with friendly, professional, economic, or investment ties to Panama after the provisional PAÍSES ESPECÍFICOS stage.
Investor
- PAÍSES ESPECÍFICOS Provisional Residence Permit (Investment Basis)
SNM provisional residence route for nationals of specified countries who qualify through the investment basis listed on the official PAÍSES ESPECÍFICOS requirements sheet.
Languages
- Spanish(Official)
Sources
- Country language reference
Safety
3 source-backed travel advisories are available for Panama.
Canada
Take normal security precautions
Advisory effective · Verified
Take normal security precautions in Panama.
United Kingdom
No destination-wide FCDO travel warning
Advisory effective · Verified
FCDO travel advice currently has no destination-wide warning for Panama. Review the full FCDO travel advice before travelling, including safety, entry, health, and insurance guidance.
United States
Level 2Exercise Increased Caution
Advisory effective · Verified
There was no change to the advisory level. The unrest indicator was removed. Advisory summary was updated. Exercise increased caution in Panama due to crime. Some areas have increased risk. Read the entire travel advisory. Do not travel to the Mosquito Gulf due to crime. Do not travel to parts of the Darién Region due to crime. Advisory summary U.S. government employees working in Panama need special authorization to travel to the Mosquito Gulf and the Darién Region due to safety risks. The U.S. government has limited ability to offer emergency services to U.S. citizens in these areas. Crime Crime occurs in Panama, including theft and residential break-ins. Crimes of opportunity such as pickpocketing and purse snatching can happen in tourist areas. The U.S. embassy receives occasional
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