Looking at Panama to retire

That’s wonderful news! You’re definitely looking in the right place Panama is one of the easiest and most welcoming countries for Americans to retire in. Coronado is beautiful, modern, and has a great mix of locals and expats who’ll make you feel right at home.

If you ever want some advice about the residency process, which areas to explore, or what kind of documentation to bring when you visit, I’d be glad to help. I’ve guided a few people through the same process and can share what to expect before you make the move. Don’t hesitate to reach out — happy to share some insider tips!

I first came to Panama in 1987 so proceed with caution. Due diligence before you make any moves or life changing decisions is the best policy.

Be careful with listening to anyone who has a financial interest in your move like real estate agents, immigration attorneys, relocation services, etc. They're making money off of you and that's a fact you can't ignore.

Economically things have been in decline and social unrest can be problematic. Unemployment is incredibly high in this country and since it's a service economy AI is going to have a massive impact here and the government--as in mast countries is behind the curve.

Panama, during the pandemic had probably the heaviest handed policies in Latin America.

If I didn't have personal ties and a long history in this country I think that I'd pick someplace else like Uruguay, Paraguay, Argentina or Chile.

But stay here a few months and a few places before making any decisions.

@energyparadigmllc Hi, I just came across your post and was wondering how your trip to Panama in February went. Did Coronado turn out to be what you expected?

We’ve been living in Panama for many years, in the highlands near Boquete. It’s a very different lifestyle and climate compared with Coronado, which is one of the reasons I always recommend experiencing different parts of Panama before deciding where to settle.

I’d be interested to hear what you thought of Panama and whether you’re still considering the move.

Hi Frank (guessing that is your name). I have never lived in Coronado but have stopped there at the Rey store many times on my way through......and also Pio Pio. I lived several places in Panama 13 years ago when Martinelli was still president. My wife is Panamanian so I have the benefit of getting first hand info about places and people. The places I have actually lived are Volcan for 6 months, Panama City for 3 months, Penonome' for 3 months and Arrijan for a short time. I have traveled extensively though from Costa Rica to the Darien. I am definitely going to retire there but most likely in Penonome'. My wife is actually traveling there tomorrow to check on the Panamanian retirement system and get info about what her benefits will be without a US citizenship. If her info turns up poorly, then we will likely stay in the US long enough to do her naturalization  here as I am a US citizen. To answer your question about Coronado, it is mostly a Jewish community with some mid-size shopping malls and a basically warm feeling towards the gringos. My only drawback there is that it is on the hot side and the house we own is far north of Penonome' which is a little warm in the day with very nice cool breezes at night for sleeping. There are no gringos there though so it's very primitive. I am a bit of a recluse so it suits me. My most recent visit was in December for Christmas we stayed in our house for 2-1/2 weeks. The highlights were fresh orange juice every day and bananas were 10 for a dollar. (Ours were not quite ripe yet). We have Oranges, bananas, coffee and yuca on our land and a few more things. I love Panama personally but I also know of all the drawbacks. That will be true of anywhere a person lives. I have visited Boquete a few times and used to go to David regularly for hardware supplies. Well, if you have any specific curiosities, feel free to ask. I do not sugar coat anything and will be truthful about my opinions. Good luck to you, Jim

@jimgh

Hola Jim,

  This is my second time in Panama. The first was in '09 living in Volcan and David, with a Panameña. This time I'm back with her and helping with a coffee finca in the highlands! It's time to start looking into a retirement visa and getting a driver's license. Can you advise me on any of these?

Thx,

James

@West98

Hi West. Please see my recent reply to @jimgh here. I'm looking for advice.

James

@Javion7322

There are good and bad attorneys in Panama. You will need to hire an attorney to do your pensianado. I have heard good things about Carol González. I think she has an office in David. she might flip back-and-forth between Panama City and David. there is also a firm called Kraemer and Kraemer in Panama City That is reputable. either one will walk you through the details. Immigration is never a quick and easy thing, so don’t expect it to be smooth sailing. That goes for the USA also. I immigrated my wife here from Panama and it was a nightmare. we will be retiring in Panama soon. figure around $2500 for the basic immigration paperwork on top of the 800 and something dollar fee. Honestly, if I were you, I would also do my tax waiver if you are an American citizen. Otherwise you’ll be paying taxes to countries. .

@energyparadigmllc

If you’re looking for a property in Panama, I recommend checking out Urban Realty Panama⁠.They have different property options and may be able to help you find what you’re looking for.