How to Move to Panama in 2025

Summary

In this video, you'll discover how to move to Panama and obtain legal residency in 2025. With Panama's territorial tax system offering zero tax on foreign income, its strategic location, and English proficiency, it’s an ideal destination for retirees, digital nomads, and entrepreneurs. The video outlines the residency process through two main visa programs: the Pensionada Visa and Friendly Nations Visa. It also highlights the support Nomad Elite provides, including document translation, residency assistance, and even a discount on their packages for June and July 2025. Get ready for a seamless transition to Panama!

Takeaways

• 😀 Panama offers a zero-tax policy on foreign-sourced income, making it an attractive destination for expats and nomads seeking tax efficiency.
• 😀 The country's strategic location between North and South America provides excellent air connectivity to major cities worldwide.
• 😀 Panama is English-friendly, with many residents fluent in English, especially in Panama City, making it easier for expats from English-speaking countries to relocate.
• 😀 The official currency in Panama is the U.S. dollar, providing stability and eliminating the need for currency exchange.
• 😀 Panama offers a variety of lifestyles, from tropical beaches to cool mountain towns, giving expats diverse living options.
• 😀 The country welcomes foreigners with open arms through its friendly visa programs, such as the Pensionado and Friendly Nations visas.
• 😀 The Pensionado visa requires a guaranteed lifetime income of just $1,000 per month, making it accessible for retirees.
• 😀 The Friendly Nations visa allows nationals from eligible countries (like the U.S., Canada, EU, and Australia) to move to Panama with either a job offer or by starting a business.
• 😀 The residency application process requires specific documents, such as your passport, birth and marriage certificates, and proof of income, to be submitted to Panamanian authorities.
• 😀 Nomad Elite offers a comprehensive service to assist with the Panama residency process, including document verification, appointment scheduling, and translation services.
• 😀 Nomad Elite is running a summer promotion, offering discounts on residency and relocation packages, which include services like help with applying for a Panama driver's license, tax number, and bank account setup.

Q & A

What are the main benefits of relocating to Panama in 2025?

Panama offers stunning beaches, modern infrastructure, a territorial tax system with no taxes on foreign-sourced income, and a welcoming community, making it an attractive destination for expats, retirees, and digital nomads.

How does Panama's territorial tax system work?

Panama’s territorial tax system only taxes income generated within its borders. Income from foreign pensions, remote work, and business activities abroad are exempt from Panamanian taxes, making it a highly tax-efficient destination.

Which countries benefit from Panama's tax system?

Citizens of the United States, Canada, European Union countries, Australia, New Zealand, and several other countries can benefit from Panama’s tax system by relocating there permanently.

What makes Panama a strategic location for travelers?

Panama’s geographic location as a bridge between North and South America provides exceptional travel opportunities with direct flights to major cities across North America, Latin America, and Europe, including Istanbul, Turkey.

Is English commonly spoken in Panama?

Yes, while Spanish is the official language, English is widely spoken, especially in Panama City. This makes it easier for expats from English-speaking countries like the U.S. and Canada to adjust without facing significant language barriers.

What are Panama's main visa programs for foreigners?

Panama offers two main visa programs: the Pensionado visa for retirees with a guaranteed monthly income and the Friendly Nations visa for nationals of eligible countries who wish to work or start a business in Panama.

How can someone qualify for the Pensionado visa in Panama?

To qualify for Panama's Pensionado visa, applicants need to provide proof of a lifetime guaranteed income of at least $1,000 per month, such as a pension or annuity.

What is required to apply for the Friendly Nations visa?

Applicants for the Friendly Nations visa must either have a job offer from a Panamanian company or establish a Panamanian corporation. This visa is available to nationals from countries that have a friendly relationship with Panama.

What documents are needed for applying for Panamanian residency?

Applicants need to provide a valid passport, a sealed criminal record certificate, a sealed birth certificate, proof of income, and additional documents based on the chosen visa program.

What assistance does Nomad Elite provide for obtaining Panama residency?

Nomad Elite offers services such as document verification, residency application support, translation of documents, appointment scheduling, and personal assistance with obtaining a national ID card, driver's license, and tax number. They also offer discounted packages for residency in Panama.