Want to live and work in Panama?

Panama uses the US dollar as its official currency (alongside the balboa, at a 1:1 parity), which makes budgeting easy for those earning in dollars. The cost of living in Panama City is moderate by Latin American standards. A one-bedroom apartment in the city center costs between $800 and $1,300 per month, and in upscale neighborhoods like Punta Pacifica, Costa del Este, and San Francisco it can exceed $1,500. In Coronado, El Valle, and David, rent drops to $500 to $800.

Grocery shopping is reasonably priced. Chains such as Riba Smith, Super 99, El Rey, PriceSmart (wholesale like Costco), and Xtra serve all budgets. Local products (tropical fruits, fish, chicken) are inexpensive; imported goods cost more. Markets in Casco Viejo (Mercado de Mariscos) offer fresh fish at low prices. Eating at a local diner runs $5 to $8, while dinner at a mid-range restaurant in Punta Pacifica runs $25 to $50.

Utilities (air conditioning draws heavily), water, and gas run between $100 and $180 per month in a standard apartment. Good internet costs about $35. Public transport includes the Panama Metro (two lines) with a $0.35 fare, the MetroBus with an integrated card, and inexpensive taxis. Uber operates in the city. Gasoline is around $1 per liter.

Basic education is free and mandatory from ages 6 to 15. The public network has uneven quality: better in the capital, weaker in rural and indigenous areas. Those with higher incomes usually enroll their children in private schools, and several international schools (American, British, French) operate in Panama City.

The most respected universities are the University of Panama (public and free) and the Technological University of Panama. There are also good private universities, such as USMA and UDELAS. English-language courses are common in international graduate programs.

For immigrants with young children, bilingual and American schools are a common option, though expensive. Florida State University has a campus in the city, offering American degrees without needing to relocate to the United States.

Compared with other Central American countries, Panama is considered calm. Central neighborhoods such as Punta Pacifica, Costa del Este, Clayton, San Francisco, and revitalized Casco Viejo are safe for living and walking at night. Police presence and cameras are high in these areas.

Colon, the second-largest city, has a reputation for being more dangerous, with areas best avoided. Some peripheral zones of the capital, such as El Chorrillo and Curundu, also require caution. The interior, especially Boquete, Coronado, and Pedasi, is very safe and popular with foreigners.

The crimes most affecting immigrants are petty theft at tourist spots and fraud in real estate transactions. It is worth carefully reviewing documents before buying property and using trusted lawyers recommended by the expat community.

Panamanian culture blends the Latin, the Caribbean, and the indigenous. The carnival in Las Tablas is the most famous, with parades, polleras (traditional embroidered dresses), and fireworks. Another popular festival is the Festival de la Mejorana, dedicated to folk music from the interior.

The cuisine is based on corn, rice, beans, chicken, and fish. Typical dishes include sancocho de gallina (a hearty chicken broth), arroz con pollo, ceviche de corvina, and carimañolas (meat-filled yuca dumplings). In Colon, Caribbean foods such as rondón and patacones are strongly present.

Baseball is the most popular sport (a legacy of US presence), but soccer also has weight. Reggaeton and salsa dominate everyday music. American influence is visible in shopping malls, fast food chains, and the constant use of English in business.

Panama occupies the narrowest isthmus in Central America, covering about 75,420 sq km. It connects the Central and South Americas, bordering Costa Rica to the west and Colombia to the east. It has two coastlines: the Caribbean to the north (with Bocas del Toro, Portobelo, Colon, and San Blas) and the Pacific to the south (with Panama City, Coiba, Pedasi, and Santa Catalina). At some points the country is less than 60 km wide between the two oceans.

The Panama Canal cuts the isthmus from north to south (from the Caribbean to the Pacific) and is the country's defining geographic feature. It opened in 1914 and was expanded in 2016. Around the canal are artificial lakes (Gatun, Alajuela) and protected tropical forests that ensure the water supply. The terrain is dominated by the Central Mountain Range, running west to east. The highest point is Baru Volcano (3,475 m), in the west near Boquete.

Tropical forest covers much of the territory, with Darien National Park to the east (one of the largest wildernesses in the Americas) and Coiba in the Pacific, both UNESCO World Heritage Sites. The best-known islands are the Bocas del Toro archipelago (Caribbean), San Blas (Guna Yala, with 365 islands managed by the Guna people), and Coiba (Pacific). Panama lies outside the hurricane track, a major advantage over neighboring Caribbean nations.

The Pensionado program is one of the most well-known in the world. Retirees with monthly income starting at US$1,000 (plus US$250 per dependent) receive permanent residency along with discounts on medications, transportation, and cultural activities. There is no strict minimum age if the income is lifelong.

The Friendly Nations Visa, reformed in 2021, now requires a stronger economic tie: a local employment contract, purchase of real estate from US$200,000, or a bank deposit of at least US$200,000. It used to be simpler, but it remains an important route for nationals of about 50 friendly nations.

There are also investor routes (Qualified Investor, with investment starting from US$300,000 in real estate or a deposit), skilled professional, family reunification, and entrepreneur (Investor Visa for opening a local company). Permanent residency can take two to five years depending on the route, and naturalization requires five years.