The Republic of Panama!

History

Panama is a small yet great country, rich in history. It was on the Isthmus of Panama where the first Spanish settlement on mainland America was established: Santa María la Antigua del Darién, in the year 1510. This location also became the first mainland Catholic Diocese in the Americas. From there, Vasco Núñez de Balboa set out on his expedition that led to the discovery of the Pacific Ocean in 1513.

In 1519, the city of Panama Viejo was founded, becoming the first Spanish settlement on the Pacific coast of the American continent. From the Isthmus of Panama, conquistadors such as Francisco Pizarro and Diego de Almagro departed to conquer South America. Thanks to its central geographic location, the Spanish Crown established the Portobelo Customs in the Caribbean city of Portobelo, which operated as a storage and transit hub for goods, fruits, vegetables, and minerals (gold and silver) bound for Spain.

Places to visit/Portobelo>>

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THE CRUCES TRAIL, THE TRANS-ISTHMIAN RAILWAY, AND THE PANAMA CANAL

“Panama, Bridge of the World, Heart of the Universe.”

“Panama, Bridge of the World, Heart of the Universe” is a famous phrase alluding to the strategic geographic position of the Isthmus, which has served since ancient times to the present day as a bridge connecting North America with South America, as well as the Atlantic and Pacific Oceans, for the benefit of the world and international trade.

THE CRUCES TRAIL

The Cruces Trail
The Cruces Trail was one of the main routes during the colonial era connecting the Caribbean Sea to the Pacific Ocean. Built in 1530, it was the only overland route allowing passage from ocean to ocean, transporting passengers and goods from Panama City along the Chagres River to its mouth at Fort San Lorenzo, and from there by sea to Portobelo.
San Lorenzo Fort>>
Portobelo>>

The Trans-Isthmian Railway

The Panama Trans-Isthmian Railway is a transportation route that connects the Caribbean Sea with the Pacific Ocean across the Isthmus and plays a key role in Panama’s logistics sector. Inaugurated in 1855, it was the first transcontinental railway in the world. It was one of the most prosperous companies of its time and transformed Panama into an important transportation hub. Today, it remains operational, primarily transporting cargo containers between Caribbean and Pacific ports, while also offering passenger service between Panama City and Colón.
Panama Canal Railroad>>

The Panama Canal

The Panama Canal, completed in 1914, was considered at the time the Eighth Wonder of the World. An average of 36 ships transit the Canal daily, or approximately 13,140 vessels annually, representing 6% of global maritime trade.
The Panama Canal>>

Panama City

Panama boasts a cosmopolitan capital city, with numerous skyscrapers reflecting a level of architectural modernity rarely seen in other cities of Central America and the Caribbean.
(Panama City, Panama | Culture, Cuisine & Urban Adventure)
The city has a multicultural population and an exotic, diverse gastronomy that has made it one of the most important culinary hubs in Latin America. As a result, Panama City was designated by UNESCO in 2017 as a “Creative City of Gastronomy.”

Panama Culture and Cuisine>>
Tropical Culinary Getaway to Panama City>>

Safety

Historically, Panama has been one of the safest countries in Latin America. Nevertheless, as in any destination, visitors should always remain aware of the areas they plan to visit.

ECONOMIC AND MONETARY STABILITY

Over the past 35 years, Panama has become one of the most politically, economically, and socially stable countries in the region. Between 1990 and 2019, its economy grew at an average annual rate of 5.2%, supported by a strong middle class representing 60% of the population. Panama has no central bank, and the Constitution prohibits the existence of legal tender paper currency. Since 2015, Panama has held investment-grade status, making it one of the few countries in the region to do so.

Banking Center

Panama’s Banking Center, established in 1970, includes 64 banks from North, Central, and South America, as well as Europe and Asia.

Bank Information Report>>

THE PACIFIC RIVIERA

Along the Pacific coast are some of the most developed beach communities in the country, such as Coronado, Punta Barco, Vista Mar, and Buenaventura, among others.

Pacific Riviera>>

PLAYA VENAO

Playa Venao is a paradise of warm waters and remarkable waves, featuring one of the best sand breaks on the Pacific coast. It offers restaurants, boutique hotels, and is located near the town of Pedasí, reflecting the culture and folklore of the Azuero Peninsula. Despite its remote location, it has a strong expatriate community who have made Playa Venao their home. It is also one of the best destinations for sport fishing.;

Pedasí y Tonosí>>
Fishing in Pedasí & Tonosí>>
Playa Venao>>

THE PANAMANIAN CARIBBEAN

Although less developed than the Pacific coast, the Panamanian Caribbean boasts some of the country’s most beautiful beaches, including Playa Escondida and Bocas del Toro.

Playa Escondida Resort>>
Bocas del Toro>>

BOQUETE

Boquete is a town located in a beautiful valley, the former crater of a volcano, with a large river running through its center. It has a high population of expatriates from the United States, Canada, and Europe. It offers public services, restaurants, a golf course, artisan shops, and enjoys a year-round spring-like climate.

Among its attractions are rafting and kayaking, golf, coffee farms for tasting and sampling, birdwatching and quetzal observation, hiking in the mountains and on Volcán Barú, horseback riding, canopy tours along the treetops, and visits to Volcán Barú, from where both the Pacific Ocean and the Caribbean Sea can be observed at the same time.

Boquete>>
Retirement in Boquete>>
Boquete Coffee Circuit>>

HOW CAN I OBTAIN PERMANENT RESIDENCY IN PANAMA BUYING REAL ESTATE?

Investment in real estate in Panama may grant eligibility for a permanent residence visa, with entitlement to a passport depending on the category chosen. The following are some of the most common options:

1. Permanent Residence Permit as a Qualified Investor:

A foreign national is eligible for this residence permit if they invest in: a) Real estate investment through direct purchase for a minimum value of three hundred thousand U.S. dollars (USD 300,000); or b) Real estate investment through a promise-to-purchase agreement. The minimum investment must be three hundred thousand U.S. dollars (USD 300,000) until October 2026, and must be structured through one of the following options: i. Through a trust deposit managed by a licensed bank or trustee authorized to operate in Panama; ii. Through direct payment to the developer or seller of 100% of the value of the real estate property that has not yet been constructed or has not yet been subdivided or registered in the Public Registry. In this latter case, a bank performance guarantee in favor of the investor, issued by the developer or seller, must be provided. Payment may be made directly to the developer or seller under a promise-to-purchase agreement, paying 100% of the property’s value. Co-ownership or joint ownership of the property is permitted only in the case of spouses or dependents. After October 2026, the minimum required investment will increase to five hundred thousand U.S. dollars (USD 500,000).

2. Permanent Resident Permit Based on Own Economic Solvency through Real Estate Investment:

This residence permit is available to foreign nationals who invest in real estate and demonstrate that the funds originate abroad. This permit is granted for a period of two (2) years, after which the applicant may apply for Permanent Residence. If dependents are included, the investment must be increased by two thousand U.S. dollars (USD 2,000) per dependent, which may be supported through a local bank reference.

3. Permanent Resident Permit Based on Own Economic Solvency through Fixed-Term Deposits and Real Estate Investment:

This permit is available to foreign nationals who invest in real estate, fixed-term deposits, or a combination of both, and demonstrate that the funds originate abroad. The permit is granted for a period of two (2) years, after which the applicant may apply for Permanent Residence. If dependents are included, the investment must be increased by two thousand U.S. dollars (USD 2,000) per dependent, which may be supported through a local bank reference.

4. Temporary Permit for Retired Rentiers:

This temporary residence permit is granted to foreign nationals who enter the country as retired rentiers and demonstrate a monthly income of eight hundred fifty U.S. dollars (USD 850), derived exclusively from interest generated by a fixed-term deposit held with the National Bank of Panama or a Savings Bank. The interest income obtained from such deposit must be free of any liens or encumbrances for a minimum period of five (5) years. This permit is granted for five (5) years and may be renewed for an equal term.

5. Permit for Retired Pensioners:

This permit is available to foreign nationals who receive a retirement pension from a foreign government, international organization, or private company, enter the national territory to reside in Panama, and have sufficient financial means to cover all living expenses for themselves and their dependents. The monthly pension may not be less than one thousand U.S. dollars (USD 1,000) and must be granted for life. If the applicant has personally purchased a property valued at more than one hundred thousand U.S. dollars (USD 100,000), the minimum pension amount may be reduced to seven hundred fifty U.S. dollars (USD 750). Spouses may combine both pensions to meet the minimum requirement of one thousand U.S. dollars (USD 1,000). In the case of dependent children, their temporary permit will remain valid until the age of twenty-five (25), provided they can prove full-time studies. However, they will not acquire permanent resident or pensioner status, except in cases of children with proven severe disabilities. This program also grants a one-time tax exemption for the importation of personal household goods up to a total value of USD 10,000, as well as multiple discounts on entertainment, travel, medications, restaurants, including but not limited to: i. 50% discount on shows nationwide (cinemas, theaters, concerts, sporting events), ii. 30% discount on bus, boat, and train tickets, iii. 25% discount on airline tickets, iii. 25% discount on monthly electricity bills, iv. 30% to 50% discounts on hotel stays, v. 20% discount on prescription medications, vi. 15% discount on hospital bills. This permit is granted on an indefinite basis and does not require renewal.

6. Provisional Resident Permit for Nationals of Specific Countries with Friendly, Professional, Economic, or Investment Relations with the Republic of Panama:

Foreign nationals may qualify for this permanent residence permit if they: a) Invest in real estate in their personal capacity or through a corporation or Private Interest Foundation in which the applicant is the ultimate beneficial owner of the shares, equity interests, or contributions, or the founder and final beneficiary of the foundation, with a minimum investment of two hundred thousand U.S. dollars (USD 200,000); or b) Maintain a fixed-term deposit of two hundred thousand U.S. dollars (USD 200,000) with a maturity of three (3) years. Such investment may be made personally or through a corporation or private interest foundation in which the applicant is the natural person who is the ultimate beneficial owner of the shares, capital contributions, or quotas of the corporation, or the founder and ultimate beneficiary of the private interest foundation.

This visa also grants significant tax exemptions and discounts: one-time exemption for importing personal goods up to $10,000, plus discounts on entertainment (50%), transportation, airfares (25%), electricity bills (25%), hotel stays (30–50%), prescription medicines (20%), hospital bills (15%), and more. The permit is indefinite and requires no renewal.