Panama City skyline with its iconic skyscrapers under a dramatic cloudy sky at dusk, reflecting on the water.View of Panama City's skyline through lush trees, featuring tall skyscrapers under a blue sky.Panama City's modern skyline with marina and lush greenery, a perfect blend of urban and natural beauty.Panama City skyline with towering skyscrapers reflecting in the ocean under a clear blue sky.Nighttime aerial view of Panama City's illuminated skyline reflecting on the water.

Panama

North America Β· Central America

High PeaceAffordable Cost of Living
Very High DevelopmentFlawed Democracy
Population4.5M126th
GDP / Capita$19KHigh
PPP / Capita$41KModerate
Gender Inequality0.392Moderate
Life Expectancy80 yrsHigh

Dollar economy, generous pensionado visa β€” strategic hub for Latin America.

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Digital Nomad

Ideal destination

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Retiree

Ideal destination

At a Glance

57
ModerateSafety
65
AffordableCost of Living
60
ModerateQuality of Life
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Panama

Panama is a Central American country whose significance has always been tied to its position as the bridge between continents, and the canal that links two oceans remains one of the great engineering feats of the modern world. Beyond Panama City, which has a vibrant old quarter and a surprising skyline, the country has Caribbean and Pacific coastlines, indigenous Guna Yala islands, and cloud forest reserves. Those who look beyond the transit will find a compact and varied destination.

  • Panama hats are not from Panama β€” they're from Ecuador, and were exported via Panama.
  • Panama Canal generates over $4 billion in annual tolls β€” a significant share of GDP from a strip of water.
  • Pensionado retirement visa is considered one of the best in the world.
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Quick Facts

Capital

Panama City

Language

Spanish

Currency

B/. PAB

Area

74,180 kmΒ²

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Nomad Hub

Fixed Broadband

220Mbps

Very Fast24th globally

Mobile

34Mbps

Slow93rd globally
EnglishLow
PlugType A/B

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Min. Income

$3,000/mo

Duration

9 months

Renewable

Yes

Application Fee

~$300

Application difficultyMedium
Tax treatmentForeign income exempt
Processing time~30 days
Health insuranceRequired
DependentsYes
Apply onlineIn person / consulate
Path to residencyNo
Open to all nationalitiesYes

GDP / Capita

i

$19K

Upper Mid

PPP / Capita

i

$41K

Very High

Inflation

i

0.7%

Low

Unemployment

i

8.4%

Moderate

Innovation (GII)

i

25.9

Below Avg

GNI / Capita

i

$18K

Upper Mid

Tax Revenue

i

7.5%

FDI Inflows

i

3.7%

Education Spend

i

2.5%

Cost of Living

i

45.5

Affordable

Price Level Index

i

43th pct

Affordable

20-Year Trend + IMF Forecast

Income & inflation over time

i
+282% nominal+116% real
$17K$33K$50K5%200520102015202020252027
GDPPPPInflationIMF forecast
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Neighbouring Countries