#1 Retirement Haven In the Americas
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Here is all the information you will need if you want to move to Panama including how to ship items, how to travel with pets, and more.
Panama is a standout among global expat locations, offering impressive infrastructure and First World amenities in close proximity to North America. Our comprehensive knowledge of this country allows us to appreciate its many dimensions.
We know Panama from every angle and aspect. And, if you’ve yet to take a position in this country, we suggest you take a close look right now. The opportunities on the table for the retiree, the investor, the entrepreneur, and the adventurer are irresistible.
Travel & Leisure, Conde Nast Traveler,andThe New York Times all have published articles within the past few months spotlighting particularly appealing aspects of life in this hub of the Americas.
For example, the east coast of Panama’s Azuero Peninsula has been attracting retirees for the past 20 years and remains an appealing option for a more rustic coastal lifestyle.
-Dusty & Carolyn Tubbs Case Study:
“‘If we were living in the United States, we would be working until the day we die,’ Dusty says. ‘In Panama, our income is roughly one-third of what we were making in our best year in the States, but our quality of life is far better. We live on the beach, we have a boat, we have two trucks, we own two homes outright with zero debt, and we have money in the bank.’
When Dusty and Carolyn relocated to Panama’s Azuero Peninsula, they completely eliminated mortgage debt and slashed property carrying costs. ‘Our total real estate property tax on our primary coastal home in Panama is zero dollars per year thanks to Panama’s 20-year tax exoneration law,’ Carolyn explains. ‘Our monthly water bill is under $10, electricity averages $65 even with ceiling fans running full time, and fresh red snapper bought right off the fishing panga on the beach costs $3 a pound.'”
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
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The area in and around Panama City boasts many good international school options and can be a top choice if you’re thinking of making a move to Panama with children.
Many schools offer programs in Spanish and English. Most education is still publicly funded, although you will find some prestigious private and secondary schools in Panama’s major cities.
Panama is a convenient port and it’s easy to ship to, from the U.S., a 40-foot container will fit just about everything you might need. Plus, it can literally be packed in front of your house at home and unpacked in front of your house in Panama.
Remember: There are no taxes on the importation your household goods if you have at least applied for residency in Panama. Taxes do apply when shipping cars.
Also, you’ll need to hire a customs broker to unpack and arrange shipping to your home. Their fees are reasonable.
-Gabrielle Wells Blueprint:
“When organizing your move to Panama, four practical on-the-ground logistics require special attention:
Moving to Panama with a pet can be a daunting process, but not an impossible one. However, only a few steps are needed, but the timing is what will prove difficult.
From the USDA to the Panamanian consulate, take our advice, follow this guide, and bring that loving pet along.
And, if you are like the vast majority of pet owners, you have a dog. If you are a little less common, you have a cat. If you are outside your mind and hate animals with feelings and warm skin, you have a lizard. (Just kidding…kind of.)
Don’t do this step too early. You need to have your appointment with the vet inside of a two week window from your departure date. This is a requirement in Panama.
Firstly, the vet should have the required International Health Certificate form that must be filled out. But, call in advance to give them notice that you will be needing it for international travel.
You need to check directly with your airline to make sure that you have everything they require for traveling with a pet. These guidelines are pretty relaxed, for the most part, but it is necessary to operate inside of them. Some airlines have specifications for kennel types and food and water being available for the pet. Again, check with the airline and they will be glad to provide this information.
Take your completed, reviewed, authenticated, apostilled documents with you to the airport. Get on the plane and fly to Panama.
Once you arrive in Panama you will provide the documents to the veterinarian on duty. They have lists of all people flying in with pets, and often(not always) stay late to make sure that each pet is taken care of.
You will give the vet your home quarantine request and the health certificate. He will review it and let you leave once you have paid the US$130 fee. Please note that if you do not have your paperwork with you and correct, the pet will be quarantined for 40 days at the airport at a cost to you of US$10 a day.
The process can seem convoluted, but if you follow the steps slowly and methodically, you will be just fine. The only thing that we cannot prepare you for is the wave of heat and humidity that you will feel when you and your pet step out of Tocumen Airports front doors. You’ll have to figure that out for yourself.
Once you’ve determined which visa is appropriate for you, you’ll likely find that you can enjoy import benefits.
-Kathleen Peddicord Wrote:
“We know Panama from a foreigner’s point of view like nobody else… I’ve been spending time and doing business in this country for more than 25 years, and I’ve been living and operating my business here full-time for more than 15.
Here in Panama, over the past two-and-a-half decades, we’ve bought pre-construction for investment and centuries-old French-colonial for renovation… We’ve invested in raw land, both oceanfront and riverside, and residential and commercial rentals. We’ve started businesses, formed corporations, and opened bank accounts, corporate and personal.
We’ve acquired full-time residency through the country’s ground-breaking visa programs. We’ve hired domestic staff, shipped household belongings across the ocean, and put our son through local international schools.
We’ve sourced architects and carpenters, paid local utility bills, researched which private health insurance plans make the most sense for our family, bought cars (because finally we’d had enough of dealing with Panama City taxi drivers!), gotten local driver’s licenses, and even started a local franchise. And our personal experiences in this tropical haven are only the beginning…
To determine if Panama makes sense for your new life overseas, you need multiple perspectives and experienced, professional counsel when it comes to taxes, banking, trusts, corporations, residency requirements, and insurance.”
Find a permanent address in Panama. Utilities cannot be set up while you’re in another country. You need a lease agreement or property title for your residence along with a passport.
Many condos and apartments already have gas connections hooked up and running, included in the HOA fees. No work is needed on your part.
For homes, gas tanks can be ordered from a local gas company, and they usually show up two to five days after being called. When your tanks is empty, simply call the company and request a refill.
For instance, you have two options in Panama City for gas companies are Tropigas and Panagas. A 10-pound tank of gas costs between US$5 to US$7, depending where in the country you are located.
To set up your electricity, take your lease agreement or property title as well as your passport to the electricity company (likely Naturgy). A deposit is expected to be made, depending on your expected usage.
Also, an appointment is set for them to come to your residence and make the connection, but it usually takes a week or two for them to show, so be prepared for that.
Every month the bill is left near the front of your apartment building or front gate.
Electricity bills can be paid online or at an E-Pago kiosk in a mall or supermarket. Most importantly, after two months without payment, the service will be cutoff, so don’t fall too far behind.
Electricity rates vary depending on where you are living, and even rates in Panama City can change neighborhood to neighborhood.
For example, in Panama City’s El Cangrejo neighborhood, expect a monthly electricity bill of roughly US$50, and double that if you plan on using air conditioning.
For water service, IDAAN (Instituto de Acueductos y Alcantarillados Nacionales), a government owned company, is who you need to visit.
Bring your lease agreement or property title as well as your passport to their office, pay the deposit, and make an appointment for them to come to your place and get the water flowing.
As with your gas, if you live in an apartment, your water connection may already be included in your HOA fees. A typical monthly water bill in a three-bedroom home is US$60, but this varies with usage. Water bills can be paid at a Rapid Money or E-Pago kiosk in a mall or supermarket.
It’s always good to call ahead before arriving to the utility companies’ offices. It allows you to check when their hours are, confirm you have all the paper work that they request (these things can change), and see if your visit will be expedited by making an appointment.
| IDAAN |
|---|
| 523-8570 |
| 523-8567 |
| Naturgy (Gas Natural Fenosa) |
|---|
| 315-7222 |
| Tropigas |
|---|
| 206-0088 |
| 800-0427 |
| Panagas |
|---|
| 216-0155 (Panama City) |
| 278-6100 (Central Office) |
Why is Panama our favorite country in Latin America…? Honestly, there’s too many reasons to count, but here’s 10 to start with…
The Panama Canal keeps the country as an important and relevant spot in Central America. The Canal has become the main source of commerce by connecting the Pacific Ocean and Atlantic Ocean.
It brings in guaranteed cash each year, thereby stabilizing this small economy. Panama’s economy has always been strong, and with the amount of wealth that moves through the Panama Canal, it generates nearly a third of the country’s revenue.
Means that Panama has the most stable currency in Latin America. You can come to Panama with ease of mind that there’s no currency exchange risk.
Taxing Panama-sourced income and inviting international businesses that would not otherwise operate here by allowing them to operate free of corporate tax. This means more high-quality jobs for Panamanians and increased revenues for the government through employment taxes.
Consider how many world-class banks are in Panama, including banks from the United States, Latin America, China, etc. Banks are putting their trading desks in Panama for tax reasons.
Banking in Panama is safe. Tough laws and high standards are imposed on banks. Panamanian banks tend to be very conservative and do not enter into risky lending practices.
Panama has grown to be the largest international banking center in Latin America over the last 30 years.
Panama is a country of about 4 million people, which means it is small enough to benefit from the Canal income, improvements in education and social programs, and that it can operate on the U.S. dollar.
Internet- and phone-based businesses (call centers, for example) can operate in Panama cost effectively and with confidence.
Like San Francisco, Los Angeles, and New York, Panama is a primary link in the fiber-optic network. This is one of the reasons businesses like Dell are choosing to base themselves here.
Which translates to a higher-quality labor force.
The Panamanian government recognizes the importance of education and has implemented several programs to train more of the population.
The government makes efforts to improve English proficiency among high school and university students to better prepare them to compete in the labor force.
Keeps the best and the brightest from fleeing to the United States when they get the chance. Many go to the States for school and then return to work in Panama after they’ve completed their studies.
Panamanians do have the famous mañana attitude, and things definitely get done at a slower pace than in the States, but as the labor force gets younger this mañana attitude is slowly starting to fade.
As mentioned above, many go to the States to study and then return to Panama to work. This definitely contributes to the younger generation’s different work ethic.
Which is absent in most of South and Central America. More and more youngsters are adopting the entrepreneurial mindset. You won’t have issues developing a business in Panama and taking advantage of all the fresh and new perspectives these workers are bringing to the scene.
– Peg Fairbairn Wrote:
“With ever-escalating taxes, ridiculous rent, astronomical cost of health insurance, and all the other financial baggage of life in modern America, April and I were facing a pretty meager existence Stateside on a Texas schoolteacher’s pension unless we kept working. But we didn’t want to keep working. Online, I saw expats with monthly retirement income not that different from ours living in beautiful waterfront homes, enjoying dinners out four or five times a week and living ecstatically happy lives.
Living near the ocean in Panama offers a peaceful rhythm that simply doesn’t exist in North America. But beyond the beaches and mountain retreats like Santa Fe, what surprised us most was the exceptional quality of medical care. When April needed surgery, we consulted doctors at Hospital Pacífica Salud (affiliated with Johns Hopkins Medicine International) in Panama City. The specialist was Harvard-trained, spent an hour answering all our questions personally, and the entire surgical procedure cost less than our US health insurance deductible.
In the interior towns like Las Tablas and Chitré, local clinics handle routine lab work, doctor visits ($15 to $25), and prescription refills effortlessly. Experiencing New Year’s Eve in Las Tablas—dancing in the square amidst fireworks and music—symbolized how completely our lives had transformed. For expats, having access to first-world medical care in the capital combined with peaceful, low-stress coastal living makes retiring in Panama a complete no-brainer.”
December through April in Panama is clear and dry. May through July, brief showers punctuate every afternoon. By August, the rain falls hard and heavy… and come October, rivers break their banks and the streets of Panama City flood daily.
Here are some top tips for navigating high rainy season in Panama…
A few years ago, Panama began requiring a test before issuing a driver’s license. Before that, you simply asked for a license and got one. No training necessary. Your fellow drivers on the road, therefore, didn’t use turn signals—presumably they didn’t know they were supposed to. They didn’t stop at Stop signs or even, often, at red lights. They turned right from the far left lane across three lanes of traffic, again without signaling. They drove on the shoulder, across the median, on the sidewalks. They ran into each other all the time.
Despite the new requirements that would-be drivers take a class and pass a test, little has changed. The difference is that there are significantly more vehicles on the road than in 2008. The country’s exploding middle class means more people can afford a car. The streets, meantime, remain as narrow, the parking as limited. Traffic jams are epic.
Panama City has made an effort in recent years to expand the areas with sidewalks. Still, much of the city lacks them. Where you find them, they’re uneven and cracked.
Manholes lack covers. Electrical wires hang low. Enormous tree roots interrupt the way. Etc.
Fortunately, Uber is cheap.
It’s cliché, but cliches become cliches for a reason.
Nobody in Panama is in a hurry to do anything… except cut you off in traffic, but we’ve already covered that.
You might find this charming… or incredibly frustrating.
This is a con and a pro. Summertime is great… but if you’re used to four seasons you might miss the variety.
The day grows dark by 6:30 p.m. all year long.
As anywhere in the developing world, the have-nots are very present across Panama. This can be hard to take day to day.
The best response is to make an effort to give back. You bring valuable experience, skills, and talents with you from your old life to your new one in Panama. Find a way to put them to good use.
Can I Move to Panama and Still Collect Social Security?
As a U.S. citizen, you can collect your Social Security payments from outside the United States, as long as you are eligible.
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 12 Best Places To Retire Overseas In 2026
We Value Your Privacy! We will not share your email address with anyone else, period.
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