Moving to Panama from the USA

Checklist for Americans moving to Panama — Friendly Nations, Pensionado, Qualified Investor, cédula, banking, and your first month in Panama City or Boquete.

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Visa & legal right to stay

Pick a route: Friendly Nations Visa (now requires job, real estate, or fixed deposit), Pensionado ($1,000/mo pension), or Qualified Investor (~$300K)
Must
Hire a Panamanian immigration attorney — applications go through ANR via counsel
Must
Pre-trip, prepare to receive a 2-year provisional residency first, then permanent

Paperwork to gather before you fly

Apostilled FBI background check (under 6 months)
Must
Apostilled birth + marriage certificates
Pension or income certifications notarized + apostilled
Health certificate from a Panama doctor (post-arrival)
Vet docs for pets — health certificate within 10 days of travel

Money & banking

Bank account requires a Panamanian attorney's reference and a personal interview
Must
Banistmo, Banesco, and Multibank are the most open to expats
Panama uses USD — no FX conversions, no balboas in your wallet
Panama has territorial tax — foreign-source income is not taxed locally

Housing

Stay in a serviced apartment in Panama City for the first month
Search Encuentra24 and Compreoalquile for long-term leases
Expect 1 month security + 1 month rent + 1 month agency
Negotiate hard — Panama City has high vacancy.
Consider Boquete, Coronado, or Pedasí for cheaper costs but expat-heavy living

Healthcare

Public Caja system is open to residents but slow — most expats use private
Buy a Panama-issued private plan (Assa, Mapfre) — much cheaper than international
Go-to private hospitals: Hospital Punta Pacífica (Johns Hopkins affiliate) and Hospital Nacional

First 30 days on the ground

Pick up your provisional residency card
Must
Apply for a cédula (national ID) after permanent residency lands
Must
Get a +Móvil, Tigo, or Claro SIM
Buy a Metro card for Panama City transit
Use your US license for 90 days, then exchange for a Panamanian license via the SERTRACEN office

FAQ

Did the Friendly Nations Visa get killed?

No, but it tightened in 2021. You now need a Panamanian job, real-estate purchase of $200K+, or a $200K fixed deposit. The old 'just open a corporation' route is gone.

Is Pensionado still the best deal?

For retirees with a $1,000+/mo lifetime pension, absolutely — it's one of the most generous retirement visas worldwide, with a deep discount system on flights, medical, and entertainment.

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NextLatitude is for organization and guidance only. Visa rules, tax thresholds, and procedures change — always confirm with the relevant consulate or a licensed professional before acting. Last reviewed 2026-06-01.