Moving to Panama from the US — complete residency guide
How to obtain legal residency in Panama if living in the US: visa types, requirements, costs, rights, and step-by-step process.
Moving to Panama from the United States — complete guide
Panama is a favorite destination for retired American expats in Central America. Dollarized economy (USD is official currency), fast residency, quality private healthcare, and the famous Friendly Nations Visa that grants quick permanent residency to citizens of 50+ countries including the US.
Residency types
- Friendly Nations Visa — Fast permanent residency, requires real estate ($200K+) OR business OR employment
- Pensionado Visa — For pensioners with $1,000+/month (Social Security counts) — permanent residency + famous discounts
Why Panama
- Dollarized economy — USD is the currency
- Banking center — sophisticated financial system
- US proximity — 3-5 hour flight from Miami, Houston, NYC
- No territorial tax — Panama does NOT tax income generated outside the country (key for US expats)
- Pensioner discounts — unique legal system: 50% off restaurants, 30% transport, 25% electricity, etc.
- English widely spoken in Panama City and expat areas (Boquete, Coronado, El Valle)
Related information
Last verified: 2026-05-25.
General procedural information for educational purposes. Not legal, tax, or immigration advice. Laws and fees change — verify with the issuing agency before taking action. For case-specific guidance, consult a licensed immigration attorney or other appropriate professional.
Related procedural information
- USCIS Form I-407 — abandonment of LPR status — formal renunciation procedure
- IRS tax obligations as a US citizen abroad — citizens file regardless of residence
- Social Security totalization agreements — avoiding double SS coverage
- Find an international tax attorney — for renunciation and exit-tax cases
- Consulate of your destination country — pre-departure documentation
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General information, not legal advice. MigrantUSA is an independent publisher and is not a law firm; using this site does not create an attorney-client relationship, and this content is not a substitute for advice from a licensed attorney about your specific situation. US federal, state, and local government procedures, fees, and forms change. Always verify current details directly with the relevant agency before acting. For immigration, tax, or other legal matters specific to your situation, consult a licensed attorney or BIA-accredited representative.