Panama typically ranks amongst the top favourite destinations for expats – and one of the best places to retire. With a tropical climate, an advantageous tax system, a vibrant capital and an eccentric culinary scene, it is seen by many as a land of opportunities. Here are 12 reasons why you should move to Panama right now.
Panama is a tax heaven
Panama is considered one of the most well-established tax havens in the world. If you work online or have your own business and invoice international clients, your tax rates will be close to zero. And though the Panama Papers scandal put an end to banking secrecy, you can still save a lot of cash with the right company setup.
US dollars are the official currency
Whether or not you are a US citizen, you for sure are familiar with the dollar. Despite gaining independence from the United States, Panama still uses US money which makes it convenient and safe for anyone planning to live and earn money in Panama.
There are thousands of islands to explore
Panama’s peculiar geography includes some stunning archipelagos made up of hundreds of islands, many of which are still unexplored. The most famous ones on the Pacific Coast are the Pearl Islands, whereas the Caribbean is home to the San Blas archipelago and Bocas del Toro, which respectively rank high amongst the most beautiful beaches and the best places to surf in the world.
Panama is the safest country of Latin America
With a stable government and a small population, Panama is considered to be the safest country of Latin America. Because of the Canal and the tax jurisdiction, there is an international interest in preserving a safe environment for investment across the Republic of Panama.
Panama is the land of opportunities
Panama is a stable country that attracts foreign investors. With a growing expat population and increasing developments in real estate, banking and tech, it offers endless opportunities to entrepreneurs who are willing to bring innovation in business, creativity and hospitality.
It is strategically located between North and South America
Panama is a great hub to conduct international business and also a great base for travel. Less than a two-hour flight from Miami, one hour from Bogotá, and three hours from Mexico City, it is strategically located at the crossroads of two continents and two oceans in a way that grants great access to a huge and prosperous region.
Panama is the financial hub of Latin America
To many, Panama means business. The financial sector is crucial to the Panamanian economy and it includes banking services, insurance and securities. Also a logistics hub, many multinational companies have set up their regional headquarters in Panama and run their operations from the capital.
It is home to some exotic and exciting wildlife
As a biological corridor between North and South America, Panama is a a tropical paradise with a burgeoning flora and fauna. Spotting wildlife is one of the top things to do in Panama. Go to Panama and you’ll discover animal species that don’t exist anywhere else, including whales, jaguars, butterflies, eagles and golden frogs.
You can take amazing weekend getaways
It is not a lie that the best of Panama is found outside of Panama City. That is not to say that the capital is not an exciting, vibrant city. But with mountains, desert islands, Caribbean beaches and rainforest galore, living in Panama means going on amazing weekend trips, over and over again.
You never lose that holiday feeling
With a tropical climate, stunning views over the ocean, proximity to Caribbean beaches and people selling mango in the street, you can work in Panama City and still feel like you’re on holiday. The relaxed and lively atmosphere of the little capital is definitely one of the best reasons to move to Panama City.
Panama has an eccentric nightlife and innovative gastronomic scene
Panama City is sometimes compared to a tropical Miami. With rooftop lounges, salsa bars, experimental Japanese restaurants and Michelin-starred chefs, it offers the best of entertainment and food in designer spaces. But that needn’t be expensive. You can also explore local and delicious foods for little money, at places like El Trapiche or at the fish market.
Panama is a natural sanctuary made up of raw beauty
In Panama you will find both Pacific and Caribbean beaches, cloud forests in the highlands, a volcano, mountain vegetation on the highest summits, lakes, rivers, mangroves, and thousands of islands. With such biodiversity, the country is a unique and largely unspoiled natural sanctuary that you can only discover little by little.