10 Things to Know Before Moving to Panama

Welcome to the crossroads of the Americas! Panama, with its vibrant culture, tropical climate, and bustling economy, is a popular destination for expats from around the globe. Whether you're drawn by the allure of Panama City's modern skyline or the serene beaches of Bocas del Toro, there are a few essential things you should know before packing your bags. Here are the top 10 tips to help you prepare for your exciting move to Panama.

1. Understanding Visa Requirements

Before you can enjoy the Panamanian lifestyle, you'll need to ensure you have the correct visa. Panama offers several residency options, including the Friendly Nations Visa, which is popular among expats. This program allows citizens from a list of designated countries to gain residency with relative ease, provided they meet certain economic or professional criteria. It's essential to consult with a local immigration attorney to find the best visa option for your situation and to navigate the paperwork smoothly.

2. cost of living Considerations

While Panama can be more affordable than many Western countries, your cost of living will vary greatly depending on your lifestyle and the area you choose to live in. For instance, the cosmopolitan Panama City is pricier than the highland town of Boquete. However, even in the city, you can find local markets like Mercado de Abastos, where fresh produce is plentiful and inexpensive. It's wise to budget carefully and consider your priorities, such as housing, transportation, and dining out, to maintain a comfortable lifestyle.

3. Embracing the language and Culture

Spanish is the official language of Panama, and while you'll find English speakers, especially in tourist areas, learning Spanish will enrich your experience and help you integrate into the community. Cultural immersion programs, language exchanges with locals, and Spanish classes can accelerate your learning. Embrace local traditions, such as the vibrant Carnival celebrations or the more subdued Fiestas Patrias, to truly connect with the Panamanian way of life.

4. healthcare System Insights

Panama boasts a high standard of healthcare, especially in Panama City, where hospitals like Hospital Punta Pacifica offer state-of-the-art facilities. Many doctors are U.S.-trained and speak English. However, it's important to have health insurance that covers you in Panama. Some expats opt for international health insurance plans, while others prefer local insurance providers. Research and choose a plan that fits your health needs and gives you peace of mind.

5. real estate Realities

Whether you're looking to rent or buy, Panama's real estate market offers a wide range of options. Coastal properties and city apartments are popular among expats. It's advisable to rent first to get a feel for different neighborhoods. Areas like Casco Viejo charm with their colonial architecture, while El Cangrejo is known for its walkability. Work with a reputable real estate agent to navigate the market and understand the legalities of property transactions in Panama.

6. Climate and Weather Patterns

Panama's tropical climate means you'll enjoy warm weather year-round. However, be prepared for the rainy season, which can bring heavy downpours from May to November. Some regions, like the Chiriquí Highlands, have a cooler, spring-like climate, which can be a refreshing change from the heat. Understanding the local weather patterns will help you choose the right location and ensure you're prepared for Panama's diverse climate.

7. Banking and Financial Nuances

Setting up a bank account in Panama can be a bit of a process due to strict regulations. You'll need to provide a plethora of documentation, and it's beneficial to have a local reference or attorney to vouch for you. Panama uses the U.S. dollar alongside its own currency, the Balboa, which makes financial transactions convenient for Americans. Be aware of international transaction fees and consider consulting a financial advisor to manage your assets effectively.

8. Transportation Tips

While Panama City has a modern metro system and an extensive bus network, owning a car can be advantageous, especially if you live outside the capital. Traffic can be heavy, and driving styles may differ from what you're used to. Alternatively, services like Uber are widely used and can be a convenient option. If you're adventurous, you might find joy in navigating the local "diablos rojos" buses, known for their colorful artwork and lively rides.

9. Education and Schooling Options

If you're moving with children, you'll be pleased to find a variety of international schools, particularly in Panama City. Schools like the International School of Panama or the Balboa Academy offer curricula in English and hold accreditations from international bodies. It's important to research and visit schools to find the best fit for your family's educational needs and to ensure a smooth transition for your children.

10. Safety and Security Measures

Panama is generally considered safe for expats, but like anywhere in the world, it's important to take precautions. Be mindful of your surroundings, especially in crowded areas or less touristy neighborhoods. Secure your home with good locks and, if possible, a security system. Building relationships with neighbors and local law enforcement can also contribute to a secure living environment. Stay informed about local news and safety advisories to keep abreast of any issues.

Moving to Panama is an adventure filled with new experiences and opportunities. By keeping these 10 essential tips in mind, you'll be well-prepared to navigate the transition and start your new life in this beautiful and welcoming country. ¡Bienvenidos a Panamá!

Expats talk about Moving to Panama

"Rent first before you buy. Your paradise today may not be what you will think in 6 months. Brings essentials and sell everything else, you can get it cheaper here," wrote a member in Bocas del Toro.

"We visited here many times before moving and stayed in different areas each time. There are 13 micro-climates here and they vary greatly. Some roads are not good so that may play into housing decisions too. Temperatures vary, even 5 minutes away can make a big difference. There are also areas that get extremely windy in Jan-Feb. Rent before buying," commented one expat who made the move to Boquete.

"Definitely rent. When you find a short-term rental you really like and you demonstrate to the owner that you can be trusted they will probably let you reserve it a year in advance. That’s what we do, but we are considering the possibility of looking for a yearly lease which might cost about the same as 4-6 months short term. It would have to be a place where the owner lives nearby and can keep an eye on things. The advantage would be that you can furnish it the way you want and keep your stuff there when you are away. As far as I can see that would be cheaper and more convenient than buying," remarked one expat living in Panama.

"Travel as light as you can. Open yourself to the experience of daily life where you land. Don't choose a permanent base-of-operations until you have considered EVERYTHING that is important to you, and that you've been to other areas of Panama. It's a small country with amazing diversity. Give yourself the opportunity to experience the banquet!!!," wrote one member in Panama City.

"So what is it about Panama that makes it such a retirement haven for retirees all over the world, especially American and Canadian retirees? Is it that Panama is one of the safest countries in Central America, or is it the all-year-round tropical climate? Is it the abundance of American expat retirees, or its lucrative senior citizen programs? The answer is, all of the above and more. Panama is one of the few countries that brings almost everything to the table when it comes to a comfortable life for retirees,"

"We see service dogs all the time here in Panama City in the malls, restaurants and bars. They accept them inside and some even offer them a water dish," wrote a member in Panama.

"When I first developed an interest in moving to Panama the possibility of owning beachfront property was the big attraction. After spending a few years looking around I decided that I would rather not live in a beach community, although I love to be near the ocean and, in fact, have spent much of my life at sea. One of the best things about Panama is that you are never far from the sea. In my opinion the Coronado area is overdeveloped and excessively expensive. The area around Pedasi is much cheaper and less crowded. It appeals to surfers for obvious reasons. There are many islands on the Pacific coast, and they are fun to visit, although it would be quite inconvenient to live there. There are also hundreds of miles of unspoiled mainland coastline that are nearly inaccessible by land. You probably want to be somewhere that has a road to it, which further limits your options. Look at a good map and you will see what is accessible. If you don't see a road it's because there isn't one. There probably won't be any utilities either. I found that there are some significant drawbacks to living close to the beach and few native Panamanians choose to do so unless they are in the fishing business. You should look for yourself, though, and after visiting Coronado and Pedasi you might look at Las Lajas, Boca Chica, Puerto Armuelles, and the Boca del Toros archipiélago on the Caribbean coast. They're all beautiful in their own way but don't forget to look at the negative aspects including weather, services, access, and increased maintenance requirements. If you find a place you love you should rent for at least a year before you consider buying anything," commented one expat who made the move to Panama.

"I would echo what the person who did the review on Boquete. Embrace the local culture and ways of doing things. Don't come here wanting to change the way folks have done things for a long time or try to make it like the US. At the same time you can teach the locals what you know in a nice way as you make friends with them," remarked one expat living in Bocas del Toro.

"People move to Panama for its dynamic economy, job opportunities, attractive retirement program, warm climate, diverse natural environment, political and economic stability, ease of settling in, developed infrastructure, ease of doing business, ample investment opportunities, and accessible financial market,"