Panama Relocation FAQ

Yes, Panama is 15-25% cheaper than Costa Rica. Key advantages:

• Panama uses US dollars (no currency risk)
• Lower property taxes
• Better Pensionado discount program
• More modern infrastructure
• Superior healthcare facilities

Costa Rica has more eco-tourism but is more expensive and uses Costa Rican colones.

Canadians have several visa options:

• Pensionado Visa: Requires $1,000 USD/month pension income. Best discounts.
• Friendly Nations Visa: For Canadians with Panama bank account ($5,000 minimum).
• Self-Economic Solvency Visa: Requires $300,000 bank deposit or property investment.

Most Canadian retirees choose the Pensionado for its benefits and low income requirement. CPP + OAS typically qualifies.

Canadians can stay 180 days (6 months) as tourists without a visa. You receive a 90-day stamp on arrival, extendable for another 90 days at immigration.

After 180 days, you must leave Panama (even briefly to Costa Rica) and can return for another 180 days. Many Canadians use this approach while deciding on permanent residency.

The Pensionado (Jubilado) visa offers substantial discounts:

• 25% off airline tickets
• 50% off entertainment (movies, concerts)
• 25% off restaurants
• 15% off hospital bills
• 20% off medical consultations
• 25% off electricity bills

Requirements: Proof of $1,000 USD/month lifetime pension (CPP + OAS qualifies), health certificate, police clearance, passport. Processing: 3-6 months.

Yes, Panama has excellent healthcare, especially in Panama City:

• Punta Pacifica Hospital: Affiliated with Johns Hopkins Medicine International
• Hospital Nacional & Hospital Paitilla: World-class care
• Most doctors are US-trained and speak English
• Wait times are days, not months like in Canada
• MRI costs $300-500 USD (vs $1,000+ in Canada)

Private health insurance costs $150-400 USD/month depending on age. Many Canadians report better care than they received in Canada.

Panama is one of the safest countries in Latin America for expats.

• Panama City's expat neighborhoods (Costa del Este, Punta Pacifica, San Francisco) are very safe
• Boquete and highland towns have low crime rates
• US dollar economy means no currency exchange scams

Use the same precautions you would in Toronto: avoid displaying expensive jewelry, use registered taxis, stay in well-lit areas at night. Over 200 Canadian families have relocated through our tours without security incidents.

Yes, Canadians can open Panama bank accounts. You typically need:

• Passport
• Proof of income (pension, employment, or investments)
• Reference letter from your Canadian bank
• Utility bill for proof of address
• Minimum deposit of $1,000-5,000 USD

Processing takes 2-4 weeks. Panama uses US dollars, so no currency conversion needed.

Yes, with the same rights as Panamanian citizens. No restrictions on foreign ownership.

• Panama City condos: $150,000-400,000 USD
• Boquete homes: $180,000-350,000 USD
• Beach properties: $200,000-500,000 USD

Property taxes are very low (0.5-0.7% annually) with exemptions for new construction. Avoid 'Rights of Possession' land without proper legal review.