Why we chose Panama – Part 2

Let’s return to our checklist and go into more detail:

Weather (seasons)

• Tropical climate all year round, with stable temperatures between 24°C and 35°C.
• Dry season (summer): mid-December to mid-April → sunny, ideal for tourism.
• Rainy season (winter): mid-April to mid-December → often short showers at the end of the day, usually sunny mornings.
• Pacific coast (e.g. San Carlos): well-marked seasons.
• Caribbean coast (e.g. Bocas del Toro): year-round rainfall with drier periods (February-March and September-October).

🎓 Schools and grade level (public vs. private) and location

• Public schools
  • Free, taught in Spanish, although English is starting to be taught in some of them.
  • Levels vary, often lower than in the private sector.
  • Overcrowded classrooms and limited resources.
  • Especially suited to locally integrated Spanish-speaking families.
• Private schools
  • Good level, often bilingual (Spanish/English).
  • International programs available (IB, American, British, French).
  • Cost: around 150 to 1,500 USD/month depending on the establishment.
• Main locations
  • Panama City: wider choice (Lycée Français Paul Gauguin, ISP, MET, Balboa Academy).
  • Coronado / San Carlos: bilingual and international private schools.
  • Boquete and David: good bilingual schools for expatriates.

🏥 Hospitals (public vs. private)

• Public hospitals
  • Inexpensive but often overloaded with long lead times.
  • Correct quality.
  • Mainly intended for residents affiliated to the French social security system (CSS).
• Private hospitals
  • Very high quality, international standards, often bilingual staff.
  • Higher costs, but affordable with insurance.

🔐 Safety – hazards in Panama

• Panama is one of the safest countries in Latin America.
• Areas to avoid: Darién (Colombian border), specific areas of Panama City (e.g. El Chorrillo, Curundú at night), Colòn.
• Main risks: petty theft and pickpockets in urban and tourist areas.
• Advice: normal vigilance, avoid displaying valuables, prefer Uber at night in the city.
• Coastal areas like San Carlos are calm and safe.

💰 Finance / Taxes

• Territorial tax system: only income generated in Panama is taxed.
• Foreign income (pensions, investments, foreign online income) generally not taxed in Panama.
• No wealth or inheritance tax.
• Solid banks, but strict compliance (justification of funds required).

🪪 Administrative facility – Permanent residence permit

• Panama is one of the most accessible countries for expatriation.
• Common options :
• Visa Friendly Nations (for many countries including Switzerland, France, Belgium, Canada, USA, etc.) (List of friendly countries)
  • Requires the creation of a company with a real activity.
  • Temporary then permanent license.
• Visa Pensionado (retired):
  • Lifetime pension of at least USD 1,000/month.
  • Rapid permanent residence with numerous benefits (discounts).
• Investor Visa:
  • Real estate from USD 300,000 (amount subject to change).
• Clear process but requires a local lawyer (standard practice).

💼 Work permit

• Required to work legally in Panama.
• Usually linked to a residence permit.
• Many expatriates prefer :
  • Teleworking abroad
  • Entrepreneurship or investment

🚫 Self-employed jobs & professions prohibited to foreigners (Non-exhaustive list)

• Prohibited professions (Panamanians only)
  • Lawyer
  • Doctor, dentist, nurse
  • Pharmacist
  • Psychologist (clinical)
  • Architect
  • Engineer (in most specialties)
  • Accountant (local CPA)
  • Journalist
  • Real estate agent (requires Panamanian license, but can be bypassed through partnership)
  • Certified tour guide
  • Teacher in the public system
  • Electrical technician and certain regulated technical professions
• Authorized self-employment (common among expatriates)
  • Real estate rentals (e.g. Airbnb, bed and breakfast)
  • Teleworking for a foreign company
  • Consulting (marketing, IT, finance, HR, etc.)
  • E-commerce and online business
  • Coaching, private training, wellness (non-medical)
  • Restaurants, hotels, tourism (via Panamanian company)
  • Digital services: design, copywriting, web development, SEO, social network management
  • Wellness events and retreats

🤿 Diving in Panama

• Panama offers two distinct experiences:
  • Pacific (Coiba, Santa Catalina): hammerheads, mantas, large pelagics. Best season: December to April.
• Major sites:
  • Coiba Island (UNESCO world heritage site) – world class.
  • Santa Catalina – main base for Coiba.
  • Bocas del Toro – ideal for beginners and snorkeling.
• Numerous PADI and SSI-certified centers.

🗣️ Learn Spanish

• Spanish is essential for integration outside expatriate environments.