A wonderful place to live.
It’s tropical. See and listen to this clip to get the vibe.
But it’s not paradise. So here are a few things to keep in mind.
TAXES
Most important: no tax on income earned outside Panama. That’s pretty compelling if you are a digital nomad or otherwise earn money outside Panamanian territory. Of course there is some tax on local income, a 7% sales tax, transfer and capital gains taxes when you buy/sell property but they tipically don’t spoil the fun.
SAFETY
I – the (Dutch) owner of ResidencyPanama.com have lived in Panama for over 6 years and more than 18 in Costa Rica. I can assure you from personal experience it’s safer than Costa Rica. Just an example: you can park your car near restaurants and other popular places without having to pay some ‘watchieman’
AFFORDABLE LIVING
Panama is not cheap but it’s certainly not expensive.
BEAUTIFUL NATURE
It’s simply amazing. The lushness, the variety, the intensity….
EXCELLENT HEALTHCARE
Looking for quality medical care? Look no further.
Want to know more about the benefits of living in Panama, drop us a line with our contact form.