Penonome

Penonomé is a city located in the Coclé Province of Panama, serving as the provincial capital. Situated in the interior of Panama, it is an important commercial and administrative hub for the region. The city is known for its agricultural significance, particularly in the production of livestock and crops that supply much of Panama's interior. Penonomé has a mix of colonial and modern architecture, reflecting its historical importance as a trading center. The city serves as a gateway to the interior provinces and is a stopping point for travelers heading to other parts of Panama. It features local markets, government buildings, and various commercial establishments that cater to both residents and visitors. The surrounding region is characterized by lush vegetation and agricultural lands. Penonomé maintains a more traditional Panamanian character compared to the capital, with a slower pace of life and strong community ties. The city is accessible via the Pan-American Highway, making it a convenient location for those exploring Panama's interior regions.

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Business Panama Group

The Business Panama Group is a well-established group of companies, professionals and alliance partners with 20 years of experience promoting and facilitating business, investments, real estate, immigration and tourism in Panama by providing information, business development and support services to individual and corporate investors.
Connect

Click connect to have our partner contact you via e-mail and/or phone.

Visa & Residency

Panama is known for its welcoming stance towards expatriates and retirees, offering a variety of options that cater to different needs. The process of obtaining a residency visa in Panama involves several steps and the complexity can vary depending on the type of visa applied for. Two of the most popular visas are the Friendly Nations Visa and the Pensionado Visa. The Friendly Nations Visa is designed for citizens from a list of countries that Panama considers to have friendly relations with. Applicants must demonstrate economic ties to the country, which can typically be done by opening a local bank account with a minimum balance and either buying property in Panama or establishing a business. This visa leads to permanent residency and is a popular route for expats looking to work or start a business in Panama. The Pensionado Visa, on the other hand, is aimed at retirees. To qualify, applicants must prove they receive a lifetime pension of at least $1,000 per month. This visa offers numerous benefits, including discounts on services and entertainment in the country. It is a straightforward option for those looking to retire in Panama. For digital nomads, Panama introduced the Short Stay Visa for Remote Workers, which allows them to live in Panama for up to 9 months, with the possibility of extending for another 9 months. Applicants must provide proof of employment or business ownership outside of Panama, and show that they earn a stable monthly income. The general process for obtaining a residency visa in Panama involves hiring a local attorney to help navigate the legal requirements, preparing and submitting the necessary documentation (such as passport copies, proof of income, and health certificates), and paying the associated fees. After the application is submitted, it may take several months to be processed. Once approved, applicants usually receive a temporary residency card, and eventually, a permanent residency card. The process is considered to be easier and more streamlined than in many other countries, making Panama an attractive destination for expats and retirees.

Cost of Living

The cost of living in Penonomé is low compared to Panama City and other major urban centers. Housing, food, and local services are relatively affordable, making it an economical choice for residents. The city's interior location and smaller size contribute to lower prices for most goods and services.

Weather

Penonomé has a tropical climate with warm temperatures year-round and a rainy season from May to November, typical of Panama's interior regions.

Healthcare in Penonome

Penonomé has a public hospital (Hospital José Domingo de Obaldía) providing basic medical services to residents. Healthcare facilities are more limited than in Panama City, and serious medical cases often require transfer to the capital. Private clinics offer some additional options for those who can afford them.

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