FAQ - The Most Frequently Asked Questions for Those Planning to Move to Panama
- 1. What about a visas?
- 2. What is the most important advice you would give me?
- 3. How can I ship my car and household goods?
- 4. What about buying furniture and appliances in Panama?
- 5. Is there anything like a Home Depot?
- 6. What about shopping for clothes
- 7. Grocery Stores
- 8. How can I safely send and receive mail in Panama?
- 9. Can I get a job in Panama?
- 10. How can I get around Panama City and get all the things I need?
- 11. What about meeting fellow Americans?
1. What about a visas?
Most people go back and forth for awhile on their tourist visa. (US, Canadian and EU citizens and some other countries receive a total of 180 days- 90 days entering Panama and renewable for another 90 days.)
For a permanent residency, there five main kinds of visas. If you can prove a minimum of $1000.00 in monthly income, you get a Retirement (pensionado) visa regardless of your age. If you want to start a business, you can get an investors visa. This requires a $160,000 temporary deposit in a Panamanian bank to show you have the funds to begin a business. There is also a visa for persons who purchase a home, mortgage free for $200,000 or more and a Reforestation Visa which requires a $40,000 investment in a reforesation project. Finally there's an Investors visa for those who can deposit $300,000 in a bank account. After 3 years of any of these visas, you can apply for permanent residency. Your spouse and underage children dependents are eligible for a residential visa under your visa.
2. What is the most important advice you can give me?
Go to ex-pat meetings to get advice on good real estate buys and trustworthy professionals to hire. Ideally rent a home and live 3-6 months in the place you are interested in moving to-that way you can be sure you want to make this move. Meet with the various ex-pat groups in different parts of the country. Don't listen to just one person's opinion about something- get several on the same topic. Finally, be sure for whatever you do that involves legal work, that you retain a reputable lawyer. Beware of people offering to help unless they come with several impeccable recommendations. We too often hear sad stories about foreigners who got swindled by a "wonderful Panamanian with lots of high level connections " who offered to help them.
Panama does not have a multi-listing system unfortunately. To get an idea of home prices and house rentals, this is an excellent website that has listings: Encuentra24. Use the Panama site in English. Owners and agencies post their properties. Some of the prices are wishful thinking but it will give you an idea.
For a lawyer, use one of the law firms listed on our Legal Services page or a law firm that is a member of the American Chamber of Commerce. You can also listen to the advice of other ex-pats who recommend lawyers but the best guarantee is to work with a lawyer that belongs to a reputable firm. The main reason we emphasize this is that if you get into trouble because you have an incompetent or crooked lawyer, you can't resolve things quickly like in the States. Panama's legal system is very slow and complicated.
Visit our Relocation Services page for more helpful services.
3. How can I ship my car and household goods?
Ship from any shipping company in the USA-Panama is a close and convenient port. Most people can put all their household goods in one 40 foot container. This can be loaded right in front of your house in the States and brought to the front of your house in Panama.
There are no import taxes on importation of your household goods. ( There is some rule that there is no tax on up to $10,000.00 worth of household goods but no one is going to be able to say exactly how much all your used household goods are worth.)
For your car, it can be put in your container or shipped separately. Whether you are a Retiree or not, taxes will apply for your car.
For customs entry and processing your goods and car once you arrive, you must hire a customs broker who will get things out for you and arrange shipping to your home- the charge is reasonable.
4. What about buying furniture and appliances in Panama?
No problem. Prices are comparable to US prices, but don't expect sales. For moderate prices the best place is Furniture City in Panama City and David.
You can order from US furniture catalogs if you don't find what you like on the floor. Home Center has modern furniture and moderate prices and for really cheap Econo Precios, both on Via Espana. Price Costco has some items. Panama's bargain basement stores like Costo in Albrook are worth checking out. There are also a number of upscale furniture stores in Panama City.
For appliances, Panafoto on Calle 50 and at Albrook Malla has the best selection. Raenco and Rodelag on Transistmica are also very good. Price Costco in Panama City and David havesome good deals, but a limited selection. Important: Do not buy refrigerators or other appliances with high tech digital stuff. There are a lot of power (short) outages in Panama and they throw these delicate systems out of order. They cost hundreds to fix. We recommend sturdy American brands like Whirlpool and Frigidaire.
5. Is there anything like a Home Depot?
Do-it Center and Novey Center come the closest-you will find the basics for your do-it-yourself needs.
6. What about other shopping for clothes
We recommend you buy all your clothes in the States. Clothes, especially for women are hard to find because the clothes sizes are for the more petite woman and just don't fit Americans. Two exceptions- the department store Felix B Maduro at the Multicentro Mall and BMB at Albrook Mall. Felix B. Maduro has a number of standard American brands, but nothing inexpensive. Their Liz Claiborne store is the best American clothes store in Panama- but no bargains. BMB in Albrook Mall is our favorite place-well known American brands like Liz Claiborne and at 30-50% discounts.
7. Grocery Stores:
We have been all over Latin American and Panama has by far the best American-style supermarkets anywhere. El Rey and Riba Smith are very complete and large supermarkets with well trained personnel. Riba Smith which has only 4 stores, all in Panama City, is the most popular with Americans because it has the most American goods and a house brand of prepared foods that are delicious- recommended- the chicken pot pie, lasagnas and their ice cream. El Rey has a store in almost every neighborhood and also in Coronado and David. Spotless, well-organized, and with friendly personnel- So enjoy.
8. How can I safely send and receive mail in Panama?
The Panamanian mail system is not reliable- we don't recommend it for anything. Fortunately there are two excellent companies dedicated receiving and sending your mail as well as bringing stuff you have ordered over the internet etc: Air Box Express and Mail Boxes Etc. Airbox Express delivers your mail and packages directly to your home. Mail Boxes receives them at the offices where you can go pick them up. They give you your own PO Box address in Miami. They bring your mail from Miami for a starting fee of about $25 a month. These mail services are invaluable for life in Panama. For more info see Air Box Express.
9. Can I get a job in Panama?
The best way at this time to work in Panama is to set up your own business. To get a job at a Panamanian business is very difficult because of laws limiting foreign employees. There are also specific laws forbidding for example foreign lawyers, doctors, translators, university professors etc. to work here. These laws will most probably be modified in the short term as Panama's booming economy needs more skilled persons, but for now it is the reality.
10. How can I get around Panama City and get all the things I need?
For the newly arrived, Panama City traffic is chaotic and not easy to get around by car. You can hire a taxi driver to take you around-this works best in you can speak some Spanish. For stress-free and fun shopping, if you can, we recommend you hire a personal driver with fluent English. Judy Tovar of Easy Travel Panama is a great choice. Contact Judy at: email: easytravel@cwpanama.net/Cell Phone: 507.6617-4122
11. What about meeting fellow Americans?
There are three excellent organizations for Americans and others. Expats in Panama hosts a monthly dinner meeting at a local restaurant and it is the best place to start. Expats in Panama There is the Newcomers Club Who's New Panama for women-Contact 399.3499 and the American Society. In Boquete there's a monthly expat meeting. Boquete and the Coronado Beach area have excellent, well organized ex-pat groups.
If you are a businessman, join the American Chamber of Commerce. It is a great place to network and learn the ropes from fellow American and Panamanian businessmen.