Before venturing to apply for the residence in Panama In any of the current procedures, it is necessary that you know what the lifestyle in Panama is like, covering all the necessary dimensions to guarantee an appropriate housing well-being.

In this article, you will learn everything about the basic aspects of living in this country, so that you know the cost of living, the medical care options, the alternatives for immigration visas in their different modalities, the housing opportunity, among others. that help you visualize yourself in our nation.

What immigration options are there in Panama?

Since the foundation of Panama as an independent State and with the creation of the Panama Canal, we have a policy open to international trade, for which we offer many facilities to access a immigration visa in panama; Next, we will briefly mention the characteristics of each modality:

– Economic solvency visa in Panama: investment in a minimum real estate property of 300,000 USD and an extra 2,000 USD for each dependent you wish to add in the application.

– Investor visa: invest at least 160,000 USD in social capital in a Panamanian company.

– Retiree Visa: Retirees for life with more than 1,000 USD monthly.

– Reforestation visa: Invest a minimum of 80,000 USD in a reforestation project endorsed by the Panamanian government.

– Marriage visa with a Panamanian citizen: permanent union with a citizen of Panama continuously.

– Specialized professional visa: if you are a professional and work for two years in a Panamanian company in person, you have the right to permanent residence.

– Visa for friendly countries Panama: countries with which there is an agreement to expedite the visa processes, it also requires a capital investment in a Panamanian company or being an experienced worker.

As you will see, the options to apply for a residence visa are not limited, and always count on the advice of the lawyers in panama to find the alternative that best suits your needs, budget and accessibility. Remember that you must spend a minimum of two years in the territory temporarily before processing the permanent permit.

Cost of living in Panama

If you compare the cost of living in Panama with some developed countries in North America and Europe, you will see that it is much cheaper without losing any type of benefits or comforts; and it is that from the beginning we have conceived this State as an ideal destination for foreigners to live and multiply the level of their investment. It is estimated that a couple will be able to live comfortably on USD 2,000 a month, taking into consideration that they already have a home.

This value includes your food, transportation, public services, health and entertainment. For its part, investment in real estate is up to 40% less than in North America and has been maintained over the last five years, which guarantees optimum profitability for foreigners.

Health services

Obviously, if you are looking for the residence in Panama you will have to be aware of the options in terms of health; Keep in mind that your country's health insurance will not work for you here, but you can always receive the best care in the private hospital network through plans with coverage for immigrants.

For people over 50 years old, they will only have to pay USD 150 per month, over 60 between USD 250 and 300. Keep in mind that to apply for these insurances you must have a residence permit and have lived for more than six months in the territory. There are many health insurance plans in Panama, we recommend that you analyze your options and choose the one that suits your needs and budget.

Climate

The climate in Panama is tropical and subtropical, which means that in the city and the beach it will be approximately 30 °C and at night and other cold seasons it only drops to 20 °C, which guarantees you a cool weather and not too hot or cold; In addition, in mountain areas you experience a cooler thermal sensation. For its part, we only have two seasons, a rainy one (from May to November) and a dry one (from December to April).

Best places to live

In Panama there are no communities in which foreigners are grouped, typically, both Panamanians and immigrants live together and all the signs and public life is adapted for all people; Some of the cities where they settle the most are:

- City of Panama.

– Crowned.

– Gap.

– Chiriqui.

Currency

The official currency of Panama is the Balboa, but, to facilitate international transactions, it is valued at the same level as the US dollar, so it is the same to pay in local bills as with Americans, allowing you to maintain an economic status equivalent to that had in other countries.

These are some of the aspects of the residence in Panama that you should know, if you want to know more we invite you to consult them with our specialists. Once you are convinced and want to advance the process, call us at +507 835 5810 or +507 774 0126 to receive more information.