What Expats Should Know 51ԹϺ Living in Panama City
Panama City is now home to many expats who came from all around the world. What gets them drawn to this city is the great quality of life it offers: nice weather, financial stability, safety, scenic nature, and a diverse social life.
Here, you’ll find everything you need to know before making the move. We’re breaking down the pros and cons, backed by data from our Expat Insider survey. Plus, we’ll answer your need-to-know questions and even share tips on how to connect with both fellow expats and locals. Let’s get into it!
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As a Spanish expat in Latin America, moving to Panama was probably easier for me than for others. But I am still glad that I found this site!
Why you'll love 51ԹϺin Panama City
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To help you figure out if Panama City is the right place for you, we’ve reached out to our expat network for their insights. Every year, over 12,000 expats participate in our Expat Insider survey, one of the largest studies on life abroad. Here, you’ll find the main pros and cons of living in Panama City, based on the Expat Insider 2024, along with additional perspectives from the international community.
Pros
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Affordable Living: Living in the city is relatively affordable. A single person’s monthly costs are around 820 USD (without rent), and for a family of four, it’s about 3,050 USD. Housing is reasonably priced, and 62% of expats are satisfied with the cost. Of course, as the capital, you might find higher prices compared to smaller cities.
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Financial Benefits: There are no taxes on foreign income, property prices start at 160,000 USD, and the Pensionado Visa offers perks like discounts on medical services (20%) and entertainment (50%). With 74% of expats happy with their financial situation, the city is a good financial choice.
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Modern Infrastructure: The city offers well-maintained roads, efficient utilities, and access to top international schools and quality hospitals. 80% of expats are satisfied with the digital infrastructure, including internet and mobile services, which is above the global average.
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Climate & Outdoor Activities: Expect warm temperatures year-round, ranging from 29-32°C (84-90°F), with no hurricanes or earthquakes. You’ll find plenty of outdoor activities, including hiking, kayaking, surfing, and fishing. You can also explore boating at marinas in Bocas del Toro or Boca Chica.
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Expat Community & Social Life: The city has a large international community, and 81% of expats feel welcomed. The diverse mix of cultures makes life interesting, with frequent festivals and celebrations. The nightlife is lively with various clubs and events to choose from.
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Job Market & Business Opportunities: The growing economy and international business hubs create opportunities for professionals. 68% of expats feel secure in their jobs, and 72% are satisfied with their work-life balance.
Cons
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Bureaucracy & Slow Government Services: The slow pace of bureaucracy can be frustrating, so expect delays when dealing with visas, bank accounts, or public offices in general.
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Language Barrier: Only 14% of locals speak English. Basic Spanish is essential for everyday tasks and dealing with public services, which can be challenging for expats not fluent in the language.
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Noise & party Culture: The city is known for its celebrations. Frequent fireworks and lively parties can be disruptive, especially during holidays. Some neighborhoods can be particularly noisy, making it harder to find quiet moments.
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Cash culture: While the city is modern, some places still prefer cash. This can be inconvenient for those who rely on credit cards, and there’s also a risk of short-changes or scams in tourist areas.
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Unreliable public transport & traffic: Public transport options are limited, and traffic congestion can be frustrating, especially during peak hours. Many expats and locals rely on private transportation or ride-sharing apps to avoid the hassle.
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Bugs: The tropical environment means insects like ants, mosquitoes, and even scorpions are common. Be prepared to deal with them as part of life here.
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Join Our Exciting Events in Panama City
In Panama, there’s always something going on, whether you’re into exploring the city’s sights, nightlife, or just hanging out. You can hit up a club, find a chill bar, or check out some of the coolest places around, depending on what you’re in the mood for. Our events give you the chance to connect with other expats and locals. Check out what’s happening throughout the week—there’s something new every day.
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This section covers everything you need to know before moving to Panama City. From visa details to practical information about the cost of living, healthcare, safety, housing, and transport. We’ve also included tips on how to connect with others and make new friends!
Panama offers different visa options depending on your situation.
- For long-term stays, the Friendly Nations Visa is popular among expats from certain countries. It allows you to get residency by either starting a business or getting a job in Panama.
- There’s also the Pensionado Visa, which is ideal for retirees and comes with discounts on healthcare, travel, and entertainment.
- If you’re investing in property, the Investor Visa could be an option.
- For remote workers, Panama recently introduced the Digital Nomad Visa, which lets you stay for up to nine months.
Knowing at least the basics of Spanish is necessary for everyday life in Panama City. A very small percentage of locals speak English, so learning some Spanish will make things much easier, especially when dealing with local services, renting, or making connections.
Panama is known for being a very safe country compared to many others in Central America. Of course, like in any big city, common sense applies; be aware of your surroundings and keep an eye on your belongings.
You can choose from private healthcare, which is affordable compared to many countries, or the public system. Most expats go for private healthcare, which offers good quality at a lower cost. Monthly health insurance can range between 100–300 USD, depending on the plan. Some options include Panama’s Private Health Insurance or international providers like [Bupa]) or .
Panama’s tax system is favourable for expats. Panama only taxes income earned within the country. So, if you’re working remotely for a foreign company or making money outside of Panama, you won’t have to pay taxes on that income. For local income, the tax rate is around 15% to 25%. There are also no taxes on dividends or capital gains from investments made outside of Panama. Retirees can benefit from discounts on healthcare and more.
Expats live all around Panama City, but here are some areas where they tend to revolve:
- Casco Viejo: Historic, trendy, and social. Great for nightlife and networking.
- San Francisco: More residential, with cafés and coworking spaces.
- Costa del Este: Modern, upscale, close to international schools.
- El Cangrejo: Central area, affordable and walkable, local atmosphere and lots of restaurants and bars.
- **Clayton: More suburban, quiet and green, popular with families.
Yes, Panama City is a great choice for expats of all ages. The cost of living is reasonable, the weather is warm year-round, and there’s a large international community. The food is excellent, the people are friendly, and the financial perks, like low taxes and discounts for retirees, make it even more attractive. These factors are also why Panama ranked first as the best place to live in our Expat Insider Survey 2024. You might need to adjust to the slower pace of life and the ñԲ attitude, but it’s something you’ll get used to.
Locals are open and friendly, and there’s a big international community, so you’ll always find social opportunities. There are plenty of places to connect, like Casa Casco in Casco Viejo or Café de la Plaza. If you’re into sports, joining a tennis or soccer club is a great way to meet people. You can also explore different hobby groups, workshops, and language exchange events to practice Spanish and get to know locals. Plus, on our platform, you’ll find various events and groups that can help you expand your social circle.
The job market in Panama City offers a range of opportunities for expats, especially in multinational companies and NGOs. Common sectors include banking, education, marketing, and construction. Big names like Dell, Coca-Cola, and Citibank have a presence in the city. However, expats need to have specialized skills, as there are restrictions on the number of foreign workers in Panamanian companies. Fluency in Spanish is required for local firms, and salaries may be lower compared to Western standards. For more flexibility, remote work or online jobs are also viable options for expats.
For a single person, 1,500–2,000 USD per month is enough to live comfortably, including rent, groceries, and transportation. If you want a more luxurious lifestyle or live in upscale areas like Costa del Este, expect to spend around 2,500 USD. For a family, the range is around 3,000–4,000 USD.
The table below offers a general overview of typical living expenses you can expect. However, keep in mind that many of these costs will vary based on your personal situation (e.g., public health insurance costs depend on your salary) and preferences (e.g., you may spend less on groceries, but you could also spend much more).
| USD per month | EUR per month | |
Rent for 1-bedroom apartment outside the city center | 750 | 640 |
Rent for 3-bedroom apartment outside the city center | 1,300 | 1,110 |
Utilities (electricity, water, etc.) | 120 | 100 |
Mobile phone & internet | 80 | 72 |
Basic health insurance | 100-300 | 90-260 |
Public transport | 20 | 17 |
Groceries | 200-400 | 170-340 |
Meal at an inexpensive restaurant | 10 | 8,5 |
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Connect with Like-Minded Expatriates in Panama City
From Netherlands, living in Panama City
From Netherlands, living in Panama City
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Our Global Partners
Pursue your hobbies with amazing new friends
If you want to practice your hobbies or find new ones with other people, 51ԹϺGroups are a great way to do it. Whether it’s Body and Soul activities, making an impact with the Changemakers Group, or enjoying some Petanque games, you can find a group that fits. If you’re looking to practice a language or get into the local culture, you can join the Language and Culture Exchange group. These groups host regular activities, making it easy to meet up and enjoy what you love.
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Skyscrapers and Rainforests in Panama City
A city of high-rise skyscrapers surrounded by tropical rainforest, Panama City was chosen as the American Capital of Culture in 2003 and will not disappoint culture lovers. With a mix of well-preserved architectural styles, the historic center of Old Panama, which is a UNESCO World Heritage Site, numerous sports teams and national parks, Panama City offers a range of activities to fill your leisure time. The major industries in Panama City are banking, tourism, and commerce, with the services industry providing up to 75% of the country's GDP. Trading and shipping opportunities are also significant thanks to the Panama Canal and the port at Balboa. Expats hoping to work in the corporate world will find that English is widely spoken, especially in the business sector.
51ԹϺis the largest global network for expatriates, with communities in 420 cities around the world. Meet fellow global minds in your city of residence or get to know local expatriates before you're moving or traveling abroad and never feel like a stranger. 51ԹϺmakes it easy for you to stay in touch with your expat friends, both online and offline, so you can grow your network of friends and contacts from all over the world. Whether they live in Athens or Oslo, 51ԹϺallows you to be close to them even if they are miles away.
Find Like-Minded Poker and Dance Fans with 51ԹϺGroups
With 51ԹϺyou have all the essential information to make a smooth move, but what about social opportunities? We provide them too with 51ԹϺEvents. Our regularly organized get-togethers allow our members to socialize, network, and relax in a friendly, secure atmosphere. Don't forget to also take a look at our groups to find like-minded expats to spend time with who share your interests in arts, culture, Latin dancing, karaoke, the outdoors, and poker. Whatever sparks your interest, with 51ԹϺyou can find fellow global minds and forge ahead with an exciting new life in Panama City.
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Like-Minded Expatriates in Panama City
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