Panamá

"Pro mundi beneficio" ("For the benefit of the world")

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Welcome to Panama

Panama: "Panama, a Central American country, is known for its famous canal that links the Atlantic and Pacific Oceans. Its economy is fueled by shipping, finance, and tourism. Panama’s vibrant culture and strategic location make it a global hub for business and trade.",

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Panama Essentials

Himno nacional

Himno Istmeño

Día de la Independencia

November 3, 1903

Haiko

Canal joins two seas / Rainforest hides golden frogs / Embera paddle

Interesting Tradition

Celebrates Festival of the Black Christ with pilgrims crawling to a statue on their knees

Weirdest Local Superstition

Sweep towards the center of a room for luck

Strangest Law Still on the Books

Illegal to make loud noises on Sundays

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Come for the history, stay for the future

Come for the crossroads, stay for the connections: Panama leverages its strategic position to create extraordinary possibilities. Life balances between mornings in sleek financial districts and afternoons on Pacific or Caribbean shores. The nation's territorial tax system and friendly nations visa program have established it as a premier destination for international business and remote work.

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Vamos

Step into a crossroads where connectivity isn't just location, but destiny. Here, two oceans bring infinite possibilities.

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Bienvenidos a Panama

Famous for its canal where ships take a shortcut through the Americas

Panama isn't just a country—it's a bridge between worlds. Here, time flows between two oceans and continents, and even a simple canal crossing becomes a lesson in global commerce. This is a land where tropical abundance meets modern ambition.

From the sophisticated skyline of Panama City to the pristine archipelago of San Blas, Panama offers diversity for every type of explorer. Whether you're drawn to the colonial charm of Casco Viejo, the cloud forests of Boquete, or the Caribbean vibe of Bocas del Toro, you'll find a country that connects cultures in colorful ways.

Estadísticas

Savor the Flavor

Eat

sancocho (chicken soup) - carimañolas (yuca fritters)

Drink

seco herrerano (sugar cane spirit) - chicheme (corn drink)

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Algo de tomar?

Beer

Annual consumption (liters per capita)

80

Wine

Annual consumption (liters per capita)

2

Coffee

Annual consumption (liters per capita)

2.05

Tea

Annual consumption (liters per capita)

0.09

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Cultural Tips and Etiquette

#1
Canal knowledge and opinions expected in social discourse
#2
Coffee farm heritage shapes social interactions
#3
Pollera dress respect shows cultural awareness
#4
Indigenous craft prices never negotiated
#5
Carnival participation follows status rules

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Panama Essentials

Representative Novel

The Green Pope by Miguel Ángel Asturias (Novel set in Central America, including Panama)

National Animal

Harpy eagle

National Pasttime

Baseball

Recuerdo nacional

Mola textile art

Plato nacional

Sancocho

Festival Famosos

Carnaval

Danza famosa

Tamborito

Música famosa

Típico

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Did You Know?

Panama is the only place in the world where you can see the sun rise on the Pacific and set on the Atlantic.

This unique geographical feature is due to Panama's curved S-shape, allowing for breathtaking views.

The Panama Canal generates one-third of Panama’s economy.

The canal is a vital trade route that connects the Atlantic and Pacific Oceans, making it a crucial component of global commerce.

Panama has more bird species than the United States and Canada combined.

With over 970 different bird species, Panama is a birdwatcher’s paradise, showcasing an incredible diversity of wildlife.

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Panama’s Key Historical Events

1,519

Abril de 2014

Arrival of Spanish Conquistadors

1821

Julio de 2014

Independence from Spain

1903

Febrero de 2015

Panama Canal Treaty with the US

1989

Marzo de 2015

US hands over Panama Canal control

1999

Octubre de 2016

Transfer of Panama Canal completed

MOBILITY

Access Panama Residency Rights on the GlobalPassport™ Platform 

NO. OF Mobility Assets

4

MOBILITY

Citizenship Pathways and
Residency Requirements

Citizenship by Birth
Citizenship by DESCENT
Citizenship by MARRIAGE
3 years
DUAL Citizenship
Conditional
RESIDENCY BY Naturalization
5
PASSPORT VALIDITY
10 years, 5 years for minors

MOBILITY

Passport Power

Visa Free Countries

125

Performance Class

Global Contender

Pasaporte Grado

B

Rango

61

Score

138.5

This visa grants access to:

• 36% of the world's population 

• 71% of UNESCO sites 

• 40% of global GDP 

• 45% of the world's land area 

MOBILITY

Acceso sin visado a:

MOBILITY

Number of American Emigrants to Panama by Year 

Year
1990
1995
2000
2005
2010
2015
2020
Panamá
158200%
168400%
178100%
169600%
161500%
1576
1706

MOBILITY

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Select up to 3 Mobility Assets
Activo de movilidad
Approval Time (est.)
Appointment Availability
Term (i.e. duration)
Minimum Investment
Requisito de presencia física
Coste de la vida
English Usage
Quality of Life
Healthcare Ranking
Passport Power
Visa-free Country Access
Number of American Expats
More Details

Healthcare

Healthcare Overview

Key Health Indicators

Edad media

29.6

years

Life Expectancy

78.8

years

Obesity Rate

27.10%

Tobacco Use

8.00%

Sources

Health care Indicators

Health Expenditure

9.68%

of GDP

Hospital Beds

1.9

per 1000 people

Doctors

1.629

per 1000 people

Out-of-pocket

37.33%

of total expenditure

Sources

Healthcare

Did you Know?

Universal Healthcare System

Panama offers a universal healthcare system, with public hospitals providing free or low-cost medical care to citizens and residents.

Private Healthcare Sector

In addition to its public healthcare, Panama has a well-regarded private sector offering advanced treatments and quicker access to services.

Healthcare for Expats

Expatriates in Panama can access both public and private healthcare services, with many opting for private insurance to cover additional costs.

Medical Tourism Hub

Panama is a growing destination for medical tourism, known for its affordable and high-quality healthcare services, particularly in urban areas.

Pharmaceutical Affordability

Medications are affordable in Panama, with most pharmaceuticals available over the counter and at lower prices compared to Western countries.

Healthcare

United Healthcare Coverage Service Index (2000 - 2021)

Healthcare

Healthcare Cost Calculator

cost of living

Coste de la vida

Panama offers a moderate cost of living, with significant variations between urban and rural areas. Panama City is considerably more expensive than other parts of the country. Housing in Panama City can be costly, especially in upscale areas, but is more affordable elsewhere. Food is reasonably priced, with local markets offering good value. Utilities are moderately priced, with air conditioning being a significant expense. Public transportation is affordable but can be crowded. Education costs vary widely between public and private institutions.

Cost of Gasoline

$0.97

per liter

Cost of Meal

$10.00

(Inexpensive Restaurant)

Monthly Rent

$815.00

(1 bedroom, City Center)

Monthly Utilities

$98.67

(85m² Apartment)

Domestic Beer

$2.00

(0.5 liter draught)

Tipo del IVA

7%

cost of living

Cost of Living plus Rent Map

cost of living

Cost of Living Calculator

cost of living

Rent Calculator

Fiscalidad

Fiscalidad

Before considering a move to Panama, it's important to know about its territorial tax system.+Panama only taxes income sourced within the country. Income tax rates are progressive, ranging from 0% to 25%. Social security contributions are mandatory. There's no VAT, but an ITBMS (similar to sales tax) of 7% applies. Property tax is also levied. A Registro Único de Contribuyentes (RUC) is required for tax purposes.+Panama does not have a double taxation treaty with the United States.

Tax Residency Requirement

183 days

Worldwide Income Taxation

No (Territorial system)

Higher Rates for Foreign Assets

No

US Double Taxation Treaty

No

Ingresos personales

Progressive tax rate based on income levels

0%-25%

Personal Capital Gains

Flat rate on investment gains

10%

Herencia

Based on inherited amount and relationship

0%

Ingresos de las empresas

Standard corporate tax rate applied to business profits

25%

Plusvalías de las empresas

Tax rate applied to capital gains from corporate investments

25%

Dividendos

Withholding tax rate applied to dividend distributions

5%-20%

Interés

Withholding rate interest payment to non-residens

12.5%-20%

Derechos de autor

Withholding tax rate for royalty payments

12.5%-20%

Work Assignment

Foreign individuals are considered residents if they are physically located and have been generating income in Panama for more than 183 days during the year.

Overall Ranking

Global position in PWC’c Ease of Paying Taxes ranking

176

Ease of Paying Taxes Score

Overall score based on multiple factors

46.7

Total Tax and Cotribution Rate

TTCR percentage including all mandatory contributtions

37.2
%

Time to Comply

Annual hours required to comply with tax regulations

408
HOURS

Number of Payments

Total number of tax payments required annually

36

Post-filing Index

Score measuring the ease of processes after filing taxes

12.8
%

taxation

Tax Burden Map

taxation

Income Tax Calculator

CLIMATE

Climate Type

Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)

Average Temperature

25.60 °C

Humidity

81

%

Average Annual Precipitation

2,928

mm

Rainless Days per Year

224

Best Time to Travel

December-April

¿Preguntas?

Frequently Asked Questions About Gaining Residency or Citizenship in Panama

Find answers to common questions about GlobalPassport™ and our tools guiding you towards residency or citizenship in Panama.

What Mobility Assets are available to me in Panama?

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Do I need to speak Spanish to apply for residency or citizenship in Panama?

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Can my family members apply for residency or citizenship in Panama with me?

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How will the GlobalPassport™ help me move to Panama?

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¿Puedo conservar mi nacionalidad?

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