Panama, a country full of facets and contrasts, attracts with breathtaking nature, diverse culture and a cosmopolitan flair. The population, spread across different regions, is characterized by its mixture of indigenous roots and European influences. With around 4.3 million inhabitants and a moderate population density of 55 inhabitants per square kilometer, Panama offers a pleasant relationship between man and nature.

Panama City: Modern metropolis meets indigenous tradition

The greatest attraction is the vibrant metropolis of Panama City, where around 1.4 million people live. Here, modern architecture meets colonial heritage, and the cosmopolitan lifestyle mixes with the warm hospitality of the locals. In contrast, indigenous communities with their traditional ways of life shape the rural regions of the country.

Traces of history: A melting pot of cultures

The current population of Panama is shaped by the country’s exciting history. Colonization by the Spanish in the 16th century left deep traces that are reflected in the language, architecture and traditions. Around 60% of Panamanians have both European and indigenous ancestors, resulting in a unique cultural diversity.

A home for expats: Panama as a popular immigration country

Panama has always enjoyed great popularity among emigrants. Attractive immigration laws, the long history as an international business location and the world-famous Panama Canal attract people from all over the world. Today, an estimated 190,000 expats live in Panama and enrich the country with their cultural diversity and entrepreneurial spirit.

Breathtaking landscapes: from dream beaches to majestic mountains

Panama impresses with a variety of landscapes that is second to none. Dreamy beaches invite you to relax, while dense rainforests and majestic mountain ranges captivate adventure seekers. Whether you’re a nature lover, active vacationer or connoisseur – Panama has something for everyone.

Uncomplicated immigration: make the dream of living in the tropics come true

Panama stands out from many other immigration countries thanks to its uncomplicated procedures. German citizens can obtain a permanent residence permit relatively easily and thus fulfill their dream of living in paradise.

Tax haven for entrepreneurs: attractive tax advantages

Panama has an extremely attractive tax system that is particularly beneficial for entrepreneurs and investors. The maximum tax rate is 25% and only applies to income earned in Panama. Foreign income therefore remains tax-free, which makes Panama a worthwhile location for internationally operating companies. The 7% sales tax only applies to non-edible goods, while basic foodstuffs are tax-free. In addition, there are various tax exemptions that make Panama an attractive business location for companies in all sectors.

Cost of living: European price level in the middle of Central America

The cost of living in Panama is relatively high compared to other Latin American countries and is more similar to European levels. In Panama City in particular, prices are generally the same as in Europe, although the quality is often not quite as high. However, if you are willing to accept the local standard of living, you can also live quite cheaply in Panama. However, most expats prefer an upscale lifestyle that is associated with similar costs to those in Germany.

Panama offers a unique way of life characterized by breathtaking nature, cultural diversity and economic opportunities. The uncomplicated immigration policy and attractive tax advantages make the country an attractive destination for anyone looking for a new home in paradise.

Healthcare in Panama: Excellent standards at affordable prices

Panama stands out from other Latin American countries due to its excellent healthcare system. This is characterized by excellent standards, modern equipment and, at the same time, low costs. This combination makes Panama not only an attractive place to live, but also a popular destination for medical tourism from North and South America.

Modern hospitals and international expertise

The private hospitals in Panama City in particular enjoy an excellent reputation and are equipped with the latest medical technology. Many Panamanian doctors have international experience because they have studied or worked abroad. Patients therefore benefit from a high level of competence and expertise.

Accessible healthcare also in rural regions

While healthcare is particularly well developed in the country’s metropolitan areas, the situation in rural regions can vary somewhat. The low population density and the long distances pose challenges for comprehensive care. Nevertheless, basic medical care is also guaranteed in remote areas. In the event of serious emergencies, rapid transport to Panama City is usually possible thanks to the manageable size of the country.

Low health insurance contributions thanks to an efficient system

The high quality of healthcare combined with the low cost of living is also reflected in health insurance contributions. These are significantly lower in Panama than in Europe. This is due on the one hand to the efficient structure of the healthcare system and on the other hand to the fact that private health insurance is widespread in Panama.

Conclusion: Panama impresses with excellent healthcare

Panama’s healthcare system impresses with a combination of excellent standards, modern infrastructure and affordable costs at the same time. This makes the country attractive not only for locals, but also for people looking for high-quality, affordable healthcare.

Panama: A variety of visas makes immigration easy

Panama is characterized by its open and welcoming immigration policy. Numerous visa options allow people from all over the world to realize their dream of living in this diverse country.

The immigration process in Panama is relatively bureaucratic. Depending on the visa, additional documents may be requested, which must be applied for in advance. These include, for example:

Certified certificate of good conduct with apostille
Health certificate
Bank statement with stamp from a Panamanian bank
Birth certificate if applicable
Proof of income if applicable
Marriage certificate if applicable
Support from a Panamanian consulate

Due to the variety of visa options and the regularly updated requirements, it is advisable to contact a Panamanian consulate directly for detailed information and to apply for a visa

Apply for Panamanian citizenship

With a permanent residence permit in Panama, foreigners can apply for Panamanian citizenship after just five years. However, since Panama does not officially allow dual citizenship, interested parties usually have to give up their existing citizenship.

Adaptation of the Friendly Nations visa

The “Friendly Nations visa”, which was particularly popular until August 2021 for citizens of around 50 countries (including Germany, Austria and Switzerland), has been simplified. Originally, obtaining the visa required a bank deposit of $5,000, setting up a company in Panama, and additional fees of $5,000.

New requirements have been in place since August 2021:

Employment contract: Proof of an employment contract with a company in Panama with a corresponding work permit

Real estate investment: Investment in real estate of at least US$200,000

Bank deposit: Bank deposit of at least US$200,000

Meeting one of these three conditions enables you to obtain a two-year temporary residence permit with the option of later converting it into a permanent residence permit.

 

Other attractive visa options

In addition to the Friendly Nations visa, Panama offers various other visa options aimed at different target groups:

Retiree visa: Ideal for retired people with a monthly pension of at least US$1,000 (US$250 extra per child and spouse)

Reforestation visa: Promotes investment in reforestation programs with the possibility of permanent residency (minimum investment: 5 hectares of forest for US$100,000)

Investor visa: Various visas for investors who invest in Panama depending on the type of investment (e.g. Business Investor visa: Investment of US$160,000 in a Panamanian company)

Agricultural visa: Enables temporary residency for six years (with the possibility of extension) by investing at least US$60,000 in an agricultural business

Living in Panama: Unique expat destinations beyond the Crowds

Panama attracts with diverse landscapes, vibrant culture and warm people. But beyond the well-known tourist trails, expats find real treasures that promise a unique attitude to life.

Discover the metropolis with a sea view: Panama City

 

Panama City, the cosmopolitan capital, surprises with skyscrapers, an international atmosphere and an infrastructure that can keep up with industrial nations. In addition to the charm of a big city, you will also find breathtaking beaches, dense forests and the proximity to two oceans – a paradise for anyone who wants to combine urban energy with nature experiences.

The capital of Panama surprises with a skyline reminiscent of Miami and an international atmosphere that is second to none. Ultra-modern skyscrapers meet historic buildings, while a variety of restaurants and shops invite you to linger.

Highlights:

Modern infrastructure: Enjoy the comfort of a global city with reliable electricity, fast internet, efficient local transport and a wide range of medical care.

International diversity: Panama City is a melting pot of cultures. Here you will meet people from all over the world and experience a unique cosmopolitan flair.

Pure beach and nature: Escape the hustle and bustle of the big city and relax on the beautiful beaches of the Pacific coast. Hike in the green jungle or explore the Panama Canal, one of the most impressive buildings in the world.

Perfect connections: Panama City is the country’s central transport hub. From here you can reach all other regions of Panama quickly and easily.

 

Affordable life with a high standard: David

David in western Panama impresses with its low cost of living and a high standard of living. The city serves as an ideal starting point for trips to the mountains, the beaches or to neighboring Costa Rica. Enjoy the comfort of a big city here without having to forego the hustle and bustle of the metropolis.

The third largest city in Panama impresses with an excellent price-performance ratio and a high standard of living. Here you can enjoy the amenities of a big city without having to dig deep into your pockets.

Highlights:

Low cost of living: In David you can live a comfortable life at significantly lower costs than in European metropolises.

Diverse leisure activities: The city offers a wide range of leisure activities, from sports and culture to shopping and nightlife.

Ideal for excursions: David is the perfect starting point for excursions to the breathtaking mountains of Panama, to the beautiful beaches of the Pacific coast or to neighboring Costa Rica.

Quiet atmosphere: Despite the big city flair, you can enjoy a relaxed and friendly atmosphere in David.

 

Eternal spring temperatures and coffee culture: Boquete

Located in the midst of lush nature and at the foot of the Baru volcano, Boquete enchants with an eternal spring and rural charm. Hike to waterfalls, explore the jungle or taste the world-famous Geisha coffee. Those seeking peace and quiet and nature lovers will find their paradise here, far away from the hustle and bustle of the big cities.

Highlights:

Ideal climate: Look forward to pleasant temperatures all year round, without extreme heat or cold.

Natural paradise: Hike through the species-rich jungle, discover hidden waterfalls and observe the diverse wildlife.

Coffee culture: Immerse yourself in the world of coffee and try the exquisite Geisha coffee, which is one of the most expensive coffees in the world.

Quiet life: In Boquete you can enjoy the peace and serenity of country life, far away from the hustle and bustle of the big cities.

 

 

Caribbean dream beaches and island paradise: Bocas del Toro

 

Bocas del Toro in the northwest of Panama is a paradise of Caribbean dream beaches, lonely islands and dense jungle. Numerous emigrants enjoy the breathtaking nature and relaxed atmosphere here every day. Tourism is the most important industry and offers a wide range of job opportunities.

Highlights:

Fantastic beaches: Discover the islands’ paradisiacal beaches and enjoy the sun, sand and sea. Island hopping: Explore the diverse islands of the archipelago and discover hidden bays and untouched nature.

Water sports: Diving, snorkeling, surfing – the clear waters of the Caribbean offer ideal conditions for all kinds of water sports.

Relaxed atmosphere: Let yourself be enchanted by the Caribbean lifestyle and enjoy the peace and serenity of the islands.

 

 

Isla Colon: Heart of the archipelago

 

Isla Colon, the main island of the Bocas del Toro archipelago, is connected to Panama City by direct flights and offers beautiful beaches as well as restaurants, excursion destinations and even discos. Here you can enjoy the amenities of a modern infrastructure and at the same time the charm of a sleepy island region.

Perfect connections: The direct flights mean that Isla Colon is well connected to the rest of the country.

Modern infrastructure: Restaurants, bars, shops and even discos ensure a varied entertainment program.

Island charm: Despite the modern infrastructure, Isla Colon has retained the charm of a sleepy island region.

 

Panama: Unique diversity for every taste

Panama offers expats a unique variety of living spaces and ways of life. Whether it’s a vibrant metropolis, affordable and comfortable living, eternal spring temperatures in the middle of nature or a Caribbean island paradise – here you will find your perfect home away from the crowds.

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We’ve helped hundreds of people move their businesses overseas, legally reduce their taxes, and become dual citizens. We are focused on high-net-worth individuals and their families as well as corporations wishing to invest their offshore companies or even secure their wealth in offshore financial centers around the world. We will help you to find the best solution for setting up an offshore or onshore company. Another special area of our full-service consulting is the investment opportunity and solution in Europe, especially in the Balkans, Africa, Asia, UAE, the Caribbean and the Pacific.

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