Apart​hotel Boquete

Retire in Panama

Why Retire in Panama?
Top Reasons to Consider the Tropics for Your Golden Years

Retirement is a major life milestone, and choosing the right location can make all the difference in your quality of life. 

Panama has emerged as one of the most attractive retirement destinations in the world, offering a mix of affordability, tropical beauty, excellent healthcare, and a welcoming expat community. If you're considering where to spend your golden years, here’s why Panama should be at the top of your list. 

 

Affordable Cost of Living 
One of the biggest draws for retirees is Panama’s low cost of living compared to the U.S., Canada, or Europe. While major cities like Panama City have higher expenses, smaller towns and beach communities offer a comfortable lifestyle at a fraction of the cost.

Housing
Renting a modern apartment can cost as little as $800–$1,500 per month, while buying property is often more affordable than in North America. If you plan on living like Panamanians, the rent can even be as low as $500 per month or less

Groceries & Dining
Local markets offer fresh produce at low prices, and eating out can be inexpensive—especially at local fondas (small eateries), where you can buy a complete meal for around $5.00.  Of course, you can also find restaurants where you can easily spend 10x as much and more.

Transportation
Public transit (like the Metro in Panama City) is cheap, and taxis are affordable. Many retirees also enjoy walkable neighborhoods.

Pensionado Visa
One of the Best Retirement Programs in the World,  Panama’s Pensionado Visa is one of the most retiree-friendly programs globally, offering substantial discounts and perks for those with a lifetime pension of at least $1,000 per month (or $1,250 for a couple). Benefits include:  
- 25% off airline tickets (domestic and international)  
- 50% off entertainment (movies, concerts, sports events)  
- 30% off public transport (buses, trains, and boats)  
- 25% off restaurant meals (except fondas)  
- 15%–50% discounts on medical services 
- Property tax exemptions (for primary residences)  
This program makes retirement in Panama not only affordable but also highly rewarding.

Excellent Healthcare System
Panama boasts some of the best healthcare in Latin America, with modern hospitals, well-trained doctors, and low costs. Many physicians are U.S.-trained, and English is widely spoken in medical facilities.

Affordable care
A doctor’s visit can cost as little as $10–$70, and health insurance is significantly cheaper than in the U.S. 

Top-tier hospitals
Panama City has Johns Hopkins-affiliated hospitals and facilities that meet international standards.

Prescription savings
Medications are often much cheaper than in North America.

Perfect Climate & Stunning Natural Beauty
Panama offers diverse climates to suit every preference: 

Tropical beaches (Pacific and Caribbean coasts)  

Cool highland towns (like Boquete and El Valle) with spring-like weather year-round 

Lush rainforestsand outdoor adventures  

Whether you prefer warm ocean breezes or cooler mountain air, Panama has a climate for you.

Safety & Stability
Compared to other Latin American countries, Panama is politically stable and has a low crime rate (especially in expat-friendly areas). The U.S. dollar is the official currency, eliminating exchange rate risks.

Thriving Expat Community  
With tens of thousands of retirees from the U.S., Canada, and Europe, Panama has a well-established expat network. 

Popular retirement hubs include:  
Boquete (cool climate, coffee farms, and active expat groups)  
Coronado (beach living near Panama City)  
Pedasí & Bocas del Toro (relaxed coastal vibes)  
Panama City (urban conveniences with a cosmopolitan feel)  

Easy Residency & Tax Benefits
Panama offers straightforward residency options (like the Pensionado Visa or Friendly Nations Visa) and favorable tax policies:  
No foreign income tax (Panama taxes only locally earned income)  
Property tax discounts for retirees  
No capital gains tax on home sales if held for two years
Bonus: The U.S. dollar is Panama’s official currency—no currency exchange needed for US-Americans! 

Adventure & Leisure Opportunities
Retirement in Panama means endless activities:  
Beaches, surfing, and fishing  
Hiking in cloud forests and national parks
Cultural festivals and vibrant city life
 - Easy travel (Panama is a hub for flights to North & South America)

 Is Panama Right for You?
With its affordable living, top-notch healthcare, retiree benefits, and breathtaking landscapes, Panama is a dream destination for many retirees. Whether you seek adventure, relaxation, or a mix of both, Panama offers an unbeatable combination of perks that make it one of the best places to retire in the world.  
If you’re ready for a tropical retirement with modern comforts, Panama might just be your perfect paradise.

Would you like to learn more about Boquete in the western highlands of  Panama? Let me know how I can help!
Come visit us, Aparthotel Boquete will be happy to be your home away from home for a short trip or a longer stay to explore our great little town.

Visiting Panama as a Tourist

Easy Entry & Unforgettable Experiences

Panama is more than just a tropical getaway—it’s one of the easiest and most rewarding destinations for travelers. With its stunning beaches, lush rainforests, vibrant cities, and hassle-free entry requirements, Panama welcomes tourists with open arms. Whether you're looking for adventure, relaxation, or cultural exploration, here’s why Panama should be your next vacation spot.



Visa Requirements & Tourist-Friendly Policies

One of the biggest advantages of visiting Panama is its straightforward entry process. Many travelers can enter without a visa, making it an accessible destination.

Who Can Visit Visa-Free?

U.S., Canada, EU, UK, Australia, and many Latin American citizens can enter Panama without a visa for up to 180 days (though immigration often grants 30-90 days initially, extendable). If you visit Panama for 180 days (caution: it's not 6 months!), your driver's license can be used only for the first 90 days.

Tourist Card Alternative: Some nationalities (like India and China) can obtain a Panamanian tourist card upon arrival if they have a valid visa from the U.S., Canada, UK, or Australia.Entry Requirements:Valid passport (with at least 6 months remaining).

- Proof of onward travel (return ticket or flight itinerary).
- Proof of sufficient funds (~$500 per person, though rarely checked).
Panama’s immigration process is efficient, and airport officials are generally welcoming to tourists.

Safe & Modern Infrastructure
Unlike some neighboring countries, Panama has a well-developed tourism infrastructure, making travel smooth and stress-free:
- Tocumen International Airport (PTY) is a major hub with direct flights from the U.S., Europe, and Latin America.
- Uber & reliable taxis are widely available in cities.
- Safe for tourists — Panama has a lower crime rate than many regional destinations, especially in tourist areas.
- Compact & Diverse Attractions:  Despite its small size, Panama packs a punch with incredible variety:

Must-Visit Destinations:
✔ Panama City – A cosmopolitan capital with skyscrapers, historic Casco Viejo, and the Panama Canal.
✔ San Blas Islands – Pristine Caribbean beaches with indigenous Guna Yala culture.
✔ Bocas del Toro – A backpacker and luxury traveler favorite with overwater bungalows and jungle adventures.
✔ Boquete – A cool mountain retreat with coffee tours and hiking.
✔ Santa Catalina – A surfers’ paradise with world-class waves.
✔ El Valle de Antón – A charming highland village with hot springs and waterfalls.

Unique Experiences:
- Watch ships pass through the Panama Canal at Miraflores Locks.
- Hike in cloud forests (like La Amistad International Park).
- Snorkel or dive in coral-rich waters (Coiba Island is a hidden gem).

English is Widely Spoken in Tourist Areas
While Spanish is the official language, many Panamanians in tourism and business speak English, especially in:
Panama City
Bocas del Toro
Boquete

No Need for Multiple Visas 
Since Panama is a hub for Copa Airlines, travelers can easily combine it with trips to:
Costa Rica (just over the border)
Colombia (short flight to Cartagena or Medellín)
Other Central American countries

Many tourists use Panama as a starting point for a larger Central/South American adventure.

Digital Nomads & Extended Stays Welcome
If you fall in love with Panama (and many do!), staying longer is easy:Tourist visa extensions are possible at immigration offices. Ask for the new Digital Nomad Visa (for remote workers wanting to stay 9–18 months).

Short-Term Rentals are widely available for month-long stays. 
In Boquete, Aparthotel Boquete offers stays from 1 night up to 180 days, with rates depending on the length of your stay. The lowest rates are for stays of 4 weeks and more. No need to stay exactly one week or one month. Safe and fast internet, separate for each apartment, perfect for Digital Nomads.

Panama is a stress-free tropical escape with its easy entry policies, safety, affordability, and diverse attractions, 
Panama stands out as one of the most tourist-friendly countries in Latin America. 
Whether you’re looking for a quick getaway or an extended exploration, Panama delivers an unforgettable experience with minimal hassle.

​Panama Residency Visa Options: 
A Complete Guide for Expats & Investors

​Panama is one of the most attractive countries for expats, retirees, and investors due to its affordable living, tropical climate, stable economy, and welcoming residency programs. 
Whether you're looking to retire, work remotely, or invest, Panama offers multiple visa pathways to obtain legal residency.
This guide breaks down the main types of residency visas in Panama, their requirements, benefits, and which one might be right for you.

Mandatory Lawyer Representation:
Panama's National Immigration Law requires all residency visa applications to be submitted through a Panamanian attorney, with a few exceptions, such as applications submitted from abroad and those for student permits.  
See our recommendation at the bottom of this page.

Please note:
The indications in this article may contain errors and are not legal advice , nor can they replace the use of a Panamanian immigration lawyer, but they can help you understand the basic requirements and differences between the main residency visas.
Laws can change, and the indications here may become outdated. Please always consult a Panamanian immigration lawyer. Please let us know if you encounter any errors.
The primary law in Panama that regulates the requirements for residency for foreigners is Decree Law No. 3 of February 22, 2008, and  Executive Decree No. 320 of August 8, 2008  further elaborates on the specific procedures and requirements for obtaining various categories of visas and residency permits in Panama.  
 

1. Pensionado (Retiree) Visa – Best for Retirees

Who Qualifies?
Anyone with a lifetime pension (government or private) of at least:
$1,000/month (individual)
$1,250/month (couple)
The only age requirement is that the applicant must be 18 years or older

Benefits:
✅ One of the world’s best retiree programs
✅ Discounts on flights (25%), restaurants (25%), hotels (30%), medical services (15-50%), and more
✅ No restrictions on bringing family (spouse and dependents can be included)
✅ Permanent residency pathway

Process:
✅ Find a recommended immigration lawyer, preferably in the area where you plan to settle. You may want to have easy access to this lawyer also after you have become a legal resident. Some immigration lawyers specialize in all issues that may be of interest for new residents, like real estate or rental contracts,  forming a corporation or foundation, and work related questions.
✅ Gather documents (pension verification, police clearance, health check).
✅ Apply for residence through your lawyer.
✅ Receive a temporary residency card, then upgrade to permanent residency.

Best for: 
Retirees wanting tax benefits and a high quality of life.

Restrictions:
✅ Under the Pensionado Visa, you cannot qualify to acquire Panamanian nationality or a Panama passport. 
✅ The Pensionado Visa allows you to live there as a permanent resident, but it does not grant you the right to work. 
However, you can create a company with Panamanian employees in the form of a corporation and can manage the company. 
Also, after 10 years of residency, you can apply for a non-expiring work permit, or you can apply for a renewable 3-year work permit. 


2. Friendly Nations Visa – Best for Remote Workers & Entrepreneurs

Who Qualifies?
Citizens from 50+ "friendly" countries (including U.S., Canada, UK, EU, Australia, and more).

Requirements:
✅  Economic tie to Panama (e.g., job, business, or $5,000 bank deposit).
✅  Simplified process compared to other visas.

Benefits:
✅ Fast approval (often within a few months)
✅ Can work or start a business in Panama
✅ Leads to permanent residency (after 5 years)

Process:
✅ Show proof of economic activity (job offer, business registration, or bank deposit).
✅ Apply through your lawyer.

Best for: 
Digital nomads, freelancers, and entrepreneurs from eligible nations.

3. Investor Visa (Golden Visa) – Best for High-Net-Worth Individuals

Options & Minimum Investments:
✅  Real Estate Investor Visa: $300,000+ in Panamanian property.
✅  Fixed-Term Deposit Visa: $750,000+ in a Panamanian bank.
✅  Business Investor Visa: $160,000+ in a Panamanian company (creating jobs).

Benefits:
✅ Fast-track residency (approved in months)
✅ No income requirement
✅ Can include spouse and children

Process:
✅ Make the investment (real estate, bank deposit, or business).
✅ Submit proof to immigration.

Best for: 
Wealthy investors wanting quick residency through property or business.

4. Digital Nomad Visa – Best for Remote Workers

Requirements:
✅ Proof of remote employment or freelance income ($3,000/month minimum).
✅ Health insurance valid in Panama.

Benefits:
✅ Stay for up to 18 months (renewable)
✅ No need for a local job
✅ Tax-free foreign income

Process:
✅ Apply online or at a Panamanian consulate.
✅  Show proof of income and insurance.

Best for
Remote workers who want to live in Panama temporarily.

5. Reforestation Visa – Best for Eco-Investors

Requirements:
Invest $80,000+ in a government-approved reforestation project.

Benefits:
✅ Permanent residency in 5 years
✅ Potential tax benefits

Best for: 
Environmentally conscious investors.

6. Work Visa – For Employed Professionals

Requirements:
✅ Job offer from a Panamanian company.
✅ Employer must sponsor the visa.

Benefits:
✅ Legal work status
✅ Path to permanent residency

Best for: 
Professionals hired by Panamanian firms.

​Which Visa is Right for You?

​Visa Type ​ Best for Minimum Requirement
Pensionado Retirees ​$1,000/month pension
Friendly Nations ​​Remote workers, entrepreneurs ​$5,000 deposit or job/business
​Investor (Real Estate) ​​Property buyers ​$300,000+ investment
​Digital Nomad ​Remote workers ​$3,000/month income
​Reforestation ​Eco-investors ​$80,000+ in reforestation
​Work Visa ​Employed professionals ​Job offer from Panamanian company

Would you like to learn more? 

Your first step should be to visit the country and find out where you would like to settle. Important criteria may be the climate (highlands or coastal areas), urban life or small-town life, access to health services, and maybe access to ex-pat communities.

Come here for a couple of weeks, explore the area that you prefer, and meet people, make friends.

Only then think about long-term property rentals or acquisition. Contacting real estate agents will be one of the last steps you take. 
Rent short or medium-term first to avoid long-term commitments that can be expensive to walk back before you are 100% sure that you have found the perfect area where you want to live for the rest of your days.


Start learning Spanish. While you can live in Panama with just English, especially in areas with ex-pat communities, life will be much easier and more pleasant if you speak the country's language. Your native neighbors will appreciate your effort.

We at Aparthotel Boquete welcome you and will be happy to help.

If you need a trustworthy, reliable and knowledgeable immigration lawyer with offices in Boquete and Panama City 
who alsp handles real estate and rental contracts as well as the creation and maintenance of corporations and foundations in Panama, 
we recommend 
Miranda & Contreras