Moving to Panama
from Florida
Direct flights under 3 hours, 40% lower cost of living, and a thriving Florida expat community. Everything you need to know before you move.
Florida residents are uniquely positioned to move to Panama. Three-hour flights from Miami and Fort Lauderdale, a thriving community of 50,000+ expats, and a cost of living that is 30–50% lower than Florida.
Panama is not a distant frontier. It's a modern, stable, dollar-based economy with excellent infrastructure, JCI-accredited hospitals, and direct flights every day from your home state. This guide walks Floridians through everything: visas, cost comparisons, where to live, how to bring your belongings, and the step-by-step timeline to make your move.
Direct Flights from Florida to Panama
Miami (MIA) → Panama City (PTY)
Copa Airlines, American, United, Delta
Fort Lauderdale (FLL) → PTY
Copa, United, American
Orlando (MCO) → PTY
Copa via Miami
Tampa (TPA) → PTY
Copa via Miami
Copa Airlines operates a hub in Panama City and offers daily flights from Miami and Fort Lauderdale. American, United, and Delta also serve this route. Round-trip fares are typically $200–$500 depending on season. Direct flights mean you can make quick trips back to Florida to visit family, close business, or check on property.
Panama vs Florida: Cost of Living
| Florida | Panama | Savings | |
|---|---|---|---|
| 1BR Apartment (City Center) | $1,500–$2,200 | $900–$1,400 | 40% |
| Groceries (Monthly) | $500–$700 | $300–$450 | 35% |
| Utilities (Electric, Water, Gas) | $250–$400 | $80–$150 | 60% |
| Healthcare (Annual) | $2,500–$5,000 | $800–$1,500 | 65% |
| Car Insurance (Annual) | $1,200–$2,000 | $600–$1,000 | 50% |
| Restaurant Meal (Nice Dinner) | $25–$50 | $12–$20 | 55% |
| Monthly Living (Couple, Comfortable) | $3,500–$5,000 | $2,000–$3,000 | 40% |
A comfortable couple's lifestyle in Panama costs $2,000–$3,000 per month. In Florida, the same lifestyle costs $3,500–$5,000. The largest savings come from utilities (air conditioning isn't needed in Panama's climate), healthcare, and dining out. Rent is cheaper but property prices in prime areas are comparable.
Panama vs Florida: Tax Comparison
| Florida | Panama | |
|---|---|---|
| State Income Tax | None (0%) | N/A — No tax on foreign income |
| Federal Income Tax | Yes (Up to 37%) | Not applicable for foreign-earned income |
| Property Tax | ~0.9% of assessed value | ~0.5% of registered value (much lower) |
| Capital Gains Tax | Federal 15–20% | No capital gains tax |
| Sales Tax | 6–7.5% | ITBMS 5% |
Florida has no state income tax, but Panama is a game-changer: Panama taxes only income earned within Panama. Foreign-sourced income (US Social Security, pensions, dividends, retirement account distributions) is NOT taxed in Panama. This is massive for retirees. However, as a US citizen, you still owe US federal taxes. Consult a tax advisor familiar with expat law to optimize your filing strategy.
Healthcare: Panama vs Florida
- —Long wait times in emergency rooms
- —High out-of-pocket costs (deductibles, copays)
- —Medication prices among world's highest
- —Medicare/insurance required (can be expensive)
- —Quality is excellent but access is crowded
- JCI-accredited hospitals (US standard)
- US-trained doctors, many bilingual
- 60–80% lower costs than US
- Private insurance very affordable ($100–$200/mo)
- Same-day or next-day appointments
Panama's healthcare system is world-class. CIMA San Blas, Hospital Punta Pacifica, and others are fully accredited and modern. A routine doctor's visit costs $50–$100. A hip replacement that costs $35,000 in the US costs $12,000 in Panama. Pensionado visa holders get a 25% discount on hospital services and medicines. Many expats pay out of pocket because it's still cheaper than their US insurance premiums.
Best Places in Panama for Floridians
Coronado
If you love Siesta Key or Sanibel Island, Coronado is your match. A thriving beach town 80 km west of Panama City with 5,000+ North American expats, beachfront properties, golf course, and restaurants catering to the expat palate. Most like Florida beach towns.
Punta Pacifica
Think Miami Brickell but with better infrastructure and lower cost. Luxury high-rises, world-class restaurants, shopping, and nightlife. Perfect for urban-minded retirees who want city amenities without the Miami traffic.
Boquete
A mountain town 6 hours west (or 45 min by small plane). Spring-like weather year-round (60–75°F), expat community of 3,000+, zero humidity, and the cost of living is even lower than Coronado. Perfect if you want to escape the heat.
El Cangrejo (Panama City)
The safest, most cosmopolitan neighborhood in the capital. Walking distance to restaurants, museums, and the banking district. Great for retirees who want city life and easy access to healthcare and services.
Pensionado Visa: Step-by-Step
Timeline: 3–6 months from application to approval. Legal fees typically range from $1,500–$3,000 (covers lawyer's work, government fees, and translations). Once approved, your Pensionado visa is valid for 5 years and is renewable indefinitely with minimal effort. You also gain the right to bring a spouse or parent on the same visa.
What to Do with Your Florida Home
Clean break. No more property taxes, maintenance, or management headaches. Proceeds fund your Panama life or provide a cash buffer. Tax note: If you've lived there 2 of the last 5 years, you can exclude up to $250K in gains (or $500K for couples).
Best if: You want a fresh start and no attachment to Florida.
Generate passive income. Florida short-term rental markets are strong. However, you must file US taxes on rental income, manage tenants remotely, and pay property taxes. Hire a property manager ($100–$200/mo). Net yield: 4–6% after expenses.
Best if: You want income and plan to return occasionally.
Some Floridians use a "snowbird" strategy: spend 6 months in Panama, 6 months in Florida. This affects visa residency status — consult an immigration lawyer if you pursue this path. Many expats simply sell the home and invest the proceeds in Panama real estate, which offers better appreciation and a lifestyle component.
Moving Your Belongings to Panama
Duty-free import: Panama offers a one-time duty-free import allowance for first-time residents. This covers household goods (furniture, appliances, electronics), one vehicle, and personal effects. No duty or tax — just pay shipping. You can bring almost everything: your bed, couch, dishes, electronics, tools, even your car if it's under 10 years old.
Florida Expat Community in Panama
Panama's expat community is predominantly North American, with large populations from Florida, California, Texas, and Canada. Facebook groups like "Expats in Panama," "Coronado Expat Community," and "Boquete Social Club" have thousands of members sharing advice, organizing meetups, and selling secondhand goods.
Weekly meetups happen in Coronado, Boquete, and Panama City. English-speaking doctors, lawyers, and property managers cater directly to this community. You will never feel alone. Most expats say the toughest part is the first month; after that, they feel at home.
Direct flights make family visits easy: Many retirees fly back to Florida 2–3 times per year to see grandchildren, attend family events, or check on business. A round-trip from Miami costs $200–$400 and takes under 3 hours. You're not moving to the moon — you're moving to a three-hour flight away.
12-Month Relocation Timeline
Research areas: Coronado, Punta Pacifica, Boquete. Watch YouTube videos, join Facebook expat groups, take a 1-week reconnaissance trip.
Hire a real estate agent and/or lawyer in Panama. Start visa paperwork: gather birth certificate, police clearance, medical exam.
Open a Panama bank account (remote or visit in person). Finalize visa application.
Wait for visa approval (3–6 months). Use this time to sell or rent your Florida home, arrange ship movers for belongings.
Receive visa approval. Schedule your move. Arrange healthcare in Panama. Start learning Spanish (apps like Duolingo help).
Final month: visit Panama 2–3 times to finalize rental/purchase, meet neighbors, and prepare for move-in.
Frequently Asked Questions
Can I keep my Florida home?
Yes. Many Panama expats keep a Florida property and visit 2–3 times per year. You can rent it out for income. However, you must file US taxes on rental income. Some retirees take a "snowbird" approach: 6 months Panama, 6 months Florida (though this has visa residency implications — consult an immigration lawyer).
What about currency risk — is the dollar stable in Panama?
Panama uses the US dollar as official currency (alongside the balboa). Zero currency risk. You earn in USD, spend in USD, save in USD. No forex conversion needed.
Do I need to speak Spanish?
Not required to move, but highly recommended for quality of life. English is widely spoken in Panama City and tourist areas. In smaller towns like Boquete, many expats speak English. However, learning basic Spanish (3–6 months of classes) transforms your experience.
What about healthcare quality?
Panama has world-class private healthcare. Hospitals like CIMA and Hospital Punta Pacifica are JCI-accredited (same standard as US hospitals). Most doctors speak English and are US-trained. Cost is 60–80% cheaper than Florida. Pensionado visa includes 25% discount on hospital services.
Is it easy to import my car or furniture?
Yes. Non-residents get a one-time duty-free import allowance for household goods and one vehicle. This covers most personal items, furniture, and one car. Hire a customs broker to handle paperwork (~$500–$1,000 fee). Shipping typically takes 4–6 weeks from Florida ports.
Trusted Moving Companies & Relocation Services
Moving to Panama from Florida is straightforward. Here are vetted services that cover everything: direct shipping from Florida ports, local Panama receiving, and financial setup.
🚛 International Movers (Florida to Panama)
- International Van Lines — Top-rated US mover. Ships direct from Miami/Fort Lauderdale to Panama. Avg $4,000–$8,000 for 1BR.
- Schumacher Cargo Logistics — Specializes in Florida-Panama routes. Fast shipping from Port Miami.
- North American Van Lines — Florida-based, excellent Panama partnerships.
- Moveboxer.com — Get 3+ free quotes from major movers in minutes.
🏠 Panama-Side Receiving & Setup
- Relocate Panama — White-glove service: container receiving, customs clearance, airport pickup, temporary housing.
- Moving Panama — English-speaking local movers. Partner with most international shippers.
- Panama Relocation Tours — 5-day tours through Coronado, Panama City, Boquete. Helps Floridians choose their neighborhood. panamarelocationtours.com
🚗 Vehicle & Auto Transport
- Montway Auto Transport — Ship cars from Florida to Colón port. Door-to-port service.
- Schumacher Cargo — Direct vehicle shipping. RoRo service from Florida ports.
- Tip: Import duty on vehicles is 30%+. Many Floridians buy used Honda/Toyota locally instead ($8K–$20K).
💳 Banking & Money Transfer
- Charles Schwab International Debit — Zero ATM fees worldwide. Essential for expats.
- Wise (TransferWise) — Low-cost transfers to Panama banks. Great exchange rates.
- Global Bank / Banistmo — Easy account opening for new Panama residents with Pensionado visa.
💡 Pro Tip from VIP Expats: Direct flights from Miami/Fort Lauderdale make it easy to visit home. Many Floridians test-drive Panama with a 2-week trip before committing to shipping belongings.
Ready to Move to Panama?
Our team specializes in helping Florida residents relocate to Panama. We handle visa guidance, property matching, and can connect you with lawyers, doctors, and movers. Let's find your Panama home.