Panama typically ranks amongst the top favorite destinations for expats – and one of the best places to retire. With a tropical climate, an advantageous tax system, a vibrant capital and an eccentric culinary scene, it is seen by many as a land of opportunities. Here are many reasons why you should move to Panama:
US dollars is the official currency.
PANAMA taxation: Panama has several tax regimes that can benefit your business. If you work online or have your own business with international clients, your tax rates will be close to zero and you can save a lot of cash with the right company setup.
Income generated outside of panama is not taxed: Residents and non-residents are taxed only on their Panama-sourced income. Regardless of nationality or residency status, you are not required to report worldwide income for Panama taxation
Property taxes are 0% up to 120,000 and as low as 0.5 – 0.7% in higher cost properties. PLUS There are no wealth, gift or inheritance taxes.
PANAMA VISAS available when acquiring a property of at least $300,000 Opportunity to obtain legal permanent residency status in Panama leading to citizenship and a local passport.
NATURE’S PARADISE: World class bird watching, ranked in the top 3 deep sea fishing destinations in the world, home of the best and most expensive coffee in the world (that you can locally drink for a fraction of the cost).
POLITICAL AND ECONOMICAL STABILITY: Having the Panama Canal gives the country special stability since the world’s interests are all involved in the peace and stability of the country. The world is connected by the panama canal.
Meet the people, ideas, and milestones shaping real estate in Panama.
Is Healthcare Good in Panama? What Americans and Canadians Should Know
Short answer: YES.
Panama has excellent private healthcare, especially in main cities ranked as follows: Panama City (Institutions as Pacifica Salud and The Panama Clinic) David (Institutions as Hospital Chiriqui and Mae Lewis Medical Center) and Chitre (Clinica especializada de Azuero). In these cities you have good access to private clinics, doctors and specialists who often have either studied abroad or completed part of their medical training, residencies, fellowships or advanced studies abroad at internationally recognized institutions.
If healthcare is one of the reasons making you nervous about moving abroad, this may be one of the easier boxes to check.
Would you expect the Avengers / Thor actor, Chris Hemsworth, to come to Panama to get Stem Cell therapy?
World-Class medical expertise is at your disposal at a fraction of the cost in the US and Canada.
For someone coming from the United States or Canada, the experience may feel surprisingly familiar: private hospitals, appointments with specialists, modern diagnostic equipment and private insurance options.
And depending on the service, private healthcare can cost considerably less than what many Americans are accustomed to paying.
In Panama City and established international communities, finding English-speaking doctors is common, but don't assume every doctor, nurse or medical office will operate in English.
This is another area where having a local network helps. At REMAX Panama, relocation is not just about handing you the keys to a house. We can help you understand the area and connect you with local resources as you get settled.
Don't choose a home first and investigate healthcare later.
If healthcare is important to you, make it part of the real estate search from DAY ONE: hospitals, specialists, pharmacies, insurance and driving time.
Tell us what you need. We can help you narrow down the areas of Panama that make sense for YOUR life.
If you are interested in knowing how affordable it is, WE CAN HELP, contact us and we can share costs related to healthcare.
Spoiler alert: Is VERY affordable.
Can Americans and Canadians Own Property in Panama?
Short answer: YES.
Foreigners can own property in Panama, and in most cases, Americans and Canadians have the same property ownership rights and protection as Panamanians.
You do not need to be a Panamanian citizen—or even a resident—to purchase titled property here.
But there is an important second part to that answer:
Not every property being offered for sale in Panama is necessarily a property you should buy.
Where Are the Restrictions?
Panama does have restrictions on foreign ownership in certain protected or restricted areas, including property located too close to the country's international borders.
There can also be additional considerations involving national parks, protected areas and certain coastal or island properties.
How do we protect you as REMAX PANAMA? It’s simple: unless you have a very specific reason to explore one of these situations, there is plenty of good, properly titled property in Panama. Keep it simple. Buy properties with checked title and no pending legal issues.
The Bigger Question: Is the Property Titled?
This is something international buyers need to understand.
You may come across properties advertised as ROP, Right of Possession, Derechos Posesorios or possessory rights.
These are NOT the same thing as owning a titled property, its more like being granted the right to use it… for now.
With titled property, your ownership is registered with Panama's Public Registry.
Possessory rights involve the right to occupy or use land that may belong to the government rather than having registered ownership. While this blog does not intend to be a legal guide and is not written from the point of view of lawyers, but as your trusted realtors, agents and partners in this journey. We don’t need to dive into the law, it’s just a general understanding of what makes more sense for you to buy in a foreign country with different laws. This is basically a friendly reminder that, yes you can buy property and its safe, but there are also new scenarios you are not used to and is our duty to protect you.
That difference matters.
And sometimes the price will tell you there is something you need to verify before handing any money to a stranger.
You find a beautiful piece of beachfront property at a price that seems impossible and think:
“I just found the deal nobody else knows about!”
Maybe. You may be incredibly lucky, or, more likely…
If it's too good to be true, it probably is.
Warning: Facebook Is Not Due Diligence
Facebook groups and word of mouth can be useful places to hear about properties, they can also have outdated information from someone’s experience YEARS AGO.
They are not substitutes for professional due diligence. We’ve done this thousands of times!
We have earned buyers trust one property at a time. And we have also learned how to navigate a different system while maintaining some of the best practices we are used to in The US and Canada. Did you know there are no titling companies here? Traditionally there’s no use of escrow, BUT IT DOES EXIST. You can now hire this service or even use a local notary to hold certified checks until closing, to grant you protection from loosing a deposit if a transaction falls threw. Just because is not “how things are done here” doesn’t mean you can’t do it. There are levels of protection for you to buy safely.
Before putting money down, make sure you understand exactly what you are buying, who owns it, whether the title is properly registered, whether there are liens or restrictions, and whether there are any circumstances that could affect your ownership. What if theres a claim or dispute from someone else claiming to be an owner? Do not worry, we know how to navigate this for you, so you don’t have to learn from your own experience.
Buying property in Panama as a foreigner is not something you should be afraid of.
You just need to buy the RIGHT property.
So, Can You Buy Property in Panama?
If you're American, Canadian or another foreign national, the answer in most cases is:
YES!
You can buy a condo in Panama City, a home in Boquete, land in Chiriquí, or that beach property you've been dreaming about.
Just don't confuse a great price with a great investment.
At REMAX Panama, we can help you understand the market, identify properly titled properties and connect you with the appropriate professionals for the legal due diligence before you buy.
Found a property online and aren't sure what you're looking at? Contact us. We'll help you ask the right questions and verify a property before you make the wrong investment.
Remember, you get our experience and guidance FOR FREE!
The seller usually pays the fees associated to our service and you can enjoy all the benefits at cost zero.
This article is for general informational purposes and does not constitute legal advice. Property ownership, title status and restrictions should be verified by a qualified Panamanian attorney before purchasing real estate.
Moving to Panama in 2026: What You Should Know Before You Decide
If you're considering moving to Panama, start with these following five things:
Where you want to live, what lifestyle you want, your real cost of living, connectivity to home, and whether you plan to rent or buy.
Panama offers some unusual advantages: the U.S. dollar, excellent international air connectivity, modern services, along with city, mountain and beach lifestyles within one relatively small country.
It also has trade-offs.
At REMAX Panamá, we believe you should understand both the perks and the challenges before looking for a property. Or even thinking about moving your entire life to a new country.
1. There Isn't One Panama Lifestyle
Beach – Modern City – Or country side, mountains and lower cost of living.
Where you live will probably affect your experience more than almost anything else.
Lets start with our most common request: Panama City offers international restaurants, major hospitals, shopping, business, nightlife, high-rise living and easy access to Tocumen International Airport. Think MIAMI with lower taxes and Lower HOA’s. The trade-off: city prices and traffic.
Avg purchase power with 300k: 90m2 (1,000sq ft) 2 bedroom apartment with many ammenities. Just to mention a few, Padle couts, golf simulators, boxing rings, spa centers… you name it! Perfect if you like a busy city lifestyle with nightlife, shopping and one direct flight away to most major cities in the US/CAN and Latin America.
Chiriquí: In the highlands like Boquete and Volcan you have cooler temperatures (Think, Year round Spring 70-75 degrees F), mountains, coffee country, outdoor living and established international communities, easy to live here without knowing any spanish. David provides access to high quality hospitals, shopping, supermarkets and an international airport. The second largest city in Panama with a country lifestyle and where your money buys you MORE.
Avg purchase power with 300k: in David: Gets you half an acre with a 2000 sqft /185m2 house where you can add a pool or Bbq area. All in a gated community with amenities and horses, perfect for country style and someone craving SPACE and Freedom.
In Boquete/Volcan: Land to build a custom house of about 150m2 (1,614sqft) for the house and about 800-1,000 m2 (8,600 – 10,700 sqft) for the lot. 2-3 Bedroom apartments start at around $400,000 in the current market. Perfect if you look for a large expat community, calm, small town lifestyle, bird watching and golf clubs where memberships go for under 4k/yr.
Pacific beach communities like Coronado, Buenaventura, Chame, playa caracol, offer another lifestyle entirely, from established residential and resort areas close to Panama City, about an hour in days with no traffic. The beach area offers a beach and/or golf centered lifestyle.
Avg purchase power with 300k: 2-3 bedroom apartment in a beach/golf community, starting at 100m2 (1,076 sqft). Prices range dramatically based on the beach community of preference. Large expat community and access to luxurious beach front lifestyle. This area is perfect if you want a developed beach area not to far from Panama City, the waves are calling!
Why 300k benchmark? The current residency program allows you to immediately qualify for a residents visa for you and your family when buying a $300k+ property. In some regions this is considered a great budget, while in others you may want to go over to find a property that suits your lifestyle.
This is why searching “What is it like to live in Panama?” only gets you so far.
A better question is:
Where in Panama fits the life I want?
2. Is Panama Cheap? Cheap vs value.
Panama isn't necessarily the cheapest country in Latin America.
Instead, it offers the most VALUE. Safety, political stability, US dollar protects you from currency volatility, inheritance protection with no taxes to anything you inherit to future generations. No tax to income produced outside of Panama, low annual property taxes, low HOA’s for luxury communities, lower health insurance, lower car insurance, stability and income to the country from the Panama Canal and its vital role in the world… the list goes on and on. So, Panama is not the cheapest, HOWEVER it offers worldclass lifestyle for half the annual price you are probably used to.
Ask what the lifestyle you want would cost in Panama versus where you live today.
For example, in Chiriquí we've seen properties starting at $300k and $250 HOA/month offering approximately 1,000sqft of construction on a bit under half an acre of land, only 6 minutes from David, the second largest city in Panama and 19 minutes from an international airport.
Or in Panama City, a brand new PENT HOUSE in one of the most exclusive buildings, overviewing the ocean, with stunning views of the Panama Canal line of ships and the contrast of “casco viejo”, Panama’s colonial neigborhood. Ammenities like an entire floor dedicated to a spa, outdoor cinema and high end dining. 3,767 sqft of luxury at $1.7M with an HOA of ~$800/month. This would cost you a fortune in Miami. Bring this price down if you are willing to buy a repo or used property, put some money into it and lose some of the amenities for an older construction. And don’t worry about remodeling, at REMAX, our services help you with that too, we will save you the headache of finding contractors, dealing with them and keeping them on time and within budget.
NOTE: In Panama a buyer’s realtor/representative doesn’t cost you anything, you get a trusted specialist guiding your journey in an unknown market FOR FREE!! REMAX is your trusted partner from starting to end, we go all the way till the end, titling, bank loans if needed and where possible, remodeling older homes, immigration (legal) guidance, a full service, relocation one stop shop. Ask us if you want more information on this.
Don't compare only the price of the house.
Compare:
That tells you considerably more than a generic cost-of-living index.
3. Panama Is Particularly Well Connected
Panama has an advantage that becomes more important after you move here: getting back home is relatively easy. Or having family visit!
Tocumen International Airport is a major hub for the Americas, with nonstop direct flights to most mayor cities the United States, Canada, Latin America and the Caribbean.
Miami, for example, is roughly a three-hour, direct flight from Panama City.
That's important if you still have family, business or other commitments back home.
4. Ideally: What Does an Ordinary Tuesday Look Like?
This is one question we think more people should ask before relocating.
Don’t consider this a vacation, its an investigation.
Where would you grocery shop?
Do you need a car?
How far are you from a good hospital?
What is traffic like?
Can you walk (safely) anywhere?
What is the weather like?
How far are you from the airport?
What will you actually do during the week?
You're choosing an everyday life, not a resort.
5. Panama Has Trade-Offs
Anyone seriously considering Panama should know them.
Traffic: Panama City traffic can be difficult.
Climate: Lowland areas can be hot and humid. Yes Mountain communities such as Boquete and Volcan are considerably cooler, still humid and it rains for a large portion of the year.
Bureaucracy: Processes may take longer or work differently than you're accustomed to. But don’t worry, we will hold your hand every step of the way. NOT ALL PROPERTY available is GOOD PROPERTY TO BUY. Some properties may have title issues and you should not buy these properties, keep an eye on terms such as: possesory rights, ROP (right of possesion), is basically untitled land that is rented from the nation, not purchased. As a general rule of thumb, if a deal seems to good to be true: it probably is. Ask your local expert about any properties you may find online or that is offered to you in non regulated spaces such as facebook groups or café’s.
Panama is safe for a foreigner to own property and be protected?: YES! But, beware of people looking for easy money and nothing to lose. This is where being part of the world’s most trusted real estate network, as REMAX we got your best interest in mind and we value our reputation (and our license to opperate under REMAX in Panama).
Language: You can live in some international communities with limited to no Spanish, but speaking Spanish makes everyday life easier and is fun to interact with locals and not just other expats. Doctors, mechanics, bankers, specially in high retirement areas such as: Coronado, Boquete, Volcan and Chiriqui, will probably speak english when you go see them.
Pace and service: Expect differences from the United States and Canada. Moving abroad works better when you don't expect your new country to behave exactly like your old one. Life is slower, but wait, that’s not necessarily a bad thing… It’s just different. Be open to it if you are planning on moving here.
REMAX Panama Reality Check
Panama may be a strong fit if you value: international connectivity, the U.S. dollar, warm weather, NEVER HAVING TO PLOW THE SNOW OFF OF YOUR DRIVEWAY EVER AGAIN, outdoor living, access to nature and several very different lifestyles within one country.
Look more carefully if you: dislike tropical climates, expect North American systems and service everywhere, or are considering Panama primarily because you've heard it's “cheap.”
6. Rent or Buy? Don't Start There. Some people say, “oh, you must rent before you buy” well, this is not always the case. Some areas have great purchase deals that will go away as inventory is running low due to high demand. Or areas where there are vitually NO rentals. If you buy at a good price point you may sell easily and even make some money in doing so. In other cases, for some people, you may not be sure about moving permanenty, why not rent for a year? Go back and forth even and see how you feel when you leave Panama… you may find yourself missing it and theres your answer.
Advise: Before asking us what properties are available, answer these questions:
City, mountain or beach?
Full-time residence, part-time home or investment?
Condo or land?
How close do you need to be to healthcare and an airport?
What monthly lifestyle budget feels comfortable?
Once we know those answers, the real estate conversation becomes much more useful.
Before Moving to Panama, Visit Like a Resident
If Panama is on your shortlist, come experience it before deciding.
But don't experience it only as a tourist.
Drive during rush hour. Visit the communities you're considering during the day and at night. Check distances to hospitals, airports and the places you'll actually use. Look at several types of properties and neighborhoods. Go grocery shopping. Have you heard of the Big Mac Index? It’s a real economic tool, created by THE ECONOMIST in 1986 to measure purchase power in different places. Purchase Power Parity (PPP) is the correct term. Let’s say you compare the price of a Big Mac in Costa Rica: $5.90 while it costs $4.40 in Panama*. *Both compared in US dollars even tho Costa Rica uses the Costa Rican Colon and Panama uses US dollars.
You don't need to decide whether Panama is perfect.
You need to determine whether you would be happy here, waking up feeling safe and not stressed about “inflation” when you buy food, knowing you are able to afford free range, locally raised organic meat and chicken, less chemicals on your veggies, more life to live and enjoy instead of going to taxes. Oh, and by the way, there are no school shoot..gs here, kids can actually go to school and you get to feel at easy about it. That’s the Panama we get to experience, and maybe, so can you.
In our next REMAX Panamá guides, we'll break down some common questions separately: cost of living, Residency cost and process, the best places to live, Panama vs. Costa Rica, safety, retirement, renting versus buying, and how foreigners can purchase property in Panama.
Start with the life. We'll help you find the place.
Tatiana Castro
Regional Director REMAX Panama
tatiana.castro@remax-cca.com
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