How to Move to Panama
from the USA
The complete step-by-step guide — visa, banking, healthcare, shipping, and your first 30 days on the ground.
Panama is the easiest country in Latin America to move to as an American. Dollarized economy, English widely spoken, Johns Hopkins-affiliated hospital, 2.5 hours from Miami — and the most generous retiree discount program in the hemisphere.
This guide covers the practical mechanics of the move — not the theory. Every section is based on what our clients actually do when they relocate.
Step 1 — Choose Your Visa Pathway
Pensionado Visa
Requires: $1,000/mo lifetime pension (Social Security qualifies)
Gets you: Permanent residency + the best retiree discount card in the hemisphere
Friendly Nations Visa
Requires: Passport from USA, Canada, EU + economic ties to Panama
Gets you: Fastest path to residency for Americans — simple, affordable
Qualified Investor Visa
Requires: $300,000 investment in Panama real estate or business
Gets you: Permanent residency + path to citizenship after 5 years
Step 2 — Your 6-Month Timeline
6 Months Before
- Choose your visa pathway — consult an immigration attorney ($1,000–$2,000)
- Gather documents: passport, birth certificate, police clearance, proof of income
- Visit Panama for 2–4 weeks — stay in Boquete, Coronado, and Panama City
- Research shipping companies and get quotes for your belongings
3 Months Before
- Submit visa application with local attorney
- Open a Panamanian bank account (Banistmo, BAC, or Banco Nacional)
- Arrange pet health certificates and USDA endorsement if bringing animals
- Sell, donate, or ship belongings — only bring what you truly use
1 Month Before
- Book your one-way flight (or multi-entry if testing the waters)
- Secure short-term rental for months 1–3 before committing to long-term
- Set up mail forwarding and notify US bank, SSA, and brokerage
- Transfer 3–6 months of expenses to your Panama account
First 30 Days
- Register with the nearest immigration office if visa is pending
- Get a Panamanian cell SIM (Claro or +Móvil) — $10–$20/mo
- Find your doctor and dentist — ask the expat Facebook groups for referrals
- Join local expat meetups — the community is your fastest learning curve
Step 3 — Budget Your Move
Step 4 — Banking in Panama
Banking is the most frustrating part of the move. Panama tightened its financial regulations post-FATF, making account opening harder for foreigners. Start early and use a local attorney.
Step 5 — Healthcare Setup
Panama City has Johns Hopkins-affiliated Hospital Punta Pacifica — the best private hospital in Central America. Specialist visits cost $50–$80. Private health insurance for a 60-year-old runs $200–$350/month.
Ready to Make the Move?
We have helped hundreds of Americans relocate to Panama. One free call can save you months of research — and expensive mistakes.
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