It is no wonder that Panama is becoming more and more popular among ex-pats, especially after the recent US election and the new president Joe Biden. Lots of US citizens are concerned about fraud, social unrest, their freedoms and the lure of socialism hanging over them. Many have chosen the small country of Panama to relocate there lives and recuperate there freedoms. Now think about the weather, the crystal clear sea, the sandy beaches, the music, the culture. What’s there not to love? The low cost of living and opportunities to own prime real estate make many US citizens relocate to this Central American melting pot. Moving here from the United States should be a straightforward process. However, it is always good to summarize some critical phases of your relocation. That is why we have put together a step-by-step guide for US citizens flocking to Panama.
It would help if you had a visa to relocate to Panama
US citizens can come to Panama on tourist visas and stay up to 90 days. Many who come as tourists fall in love with this beautiful country and express their desire to buy Panama property. However, before finding the perfect Panama real estate for sale, it would be best to consider getting a residency visa. Panama officials have made it possible for ex-pats to get residency visas quite quickly.
There are a lot of visa programs you can enter if you want to remain in Panama indefinitely. Therefore, check if you are eligible for obtaining the following visas:
- Retirement Visa – You are eligible if you have a pension. Another option is a lifetime income for you and your spouse from the government, military or similar.
- Friendly Nations Visa – You can enter this visa program if you are a citizen of one of 50 countries that Panama considers “friendly.” The United States is on the list of friendly countries.
- Business investor Visa – You are eligible upon investing a certain amount of money into a Panamanian business, following getting a business license and employing residents.
- Self-economic solvency Visa – You can enter this program if you invest in real estate in Panama and meet some other financial requirements.
After living in Panama for five years, you can obtain citizenship
If you decide to leave the US for good and settle in Panama, you can get citizenship. The process is simple. After five years of residency, you can apply and enter the process of becoming a full pledge citizen. There are specific requirements you need to follow, the most significant being opening a business. You need a fairly reasonable deposit or another type of investment. Keep in mind that Panama has a growing economy and an alive real estate market. Investing in this country has great potential. At a pretty sensible price, you can have your dream beach property in Coronado or Playa Blanca. With great banking support and real estate investment opportunities, no wonder there are so many US citizens flocking to Panama. Everyone is finding their way to their Panama homes.
Relocating to Panama shouldn’t be a complicated endeavor
If you get all your documents in order, moving to Panama from the US shouldn’t be complicated. With the assistance of a well-versed moving company specializing in international moves, relocation to this Central American gem can be done hassle-free. Experienced movers can help you transfer everything to your new home without having to worry about the logistics of it all. Your preferred moving company should have all the relevant information about shipping your belongings to Panama. If you are leaving the US and bringing your pet with you, be sure to talk to your moving specialist about possible special conditions that might apply. If for some reason, you are unable to ship all your furniture and belongings to Panama, you can always replace things and buy new ones when you arrive.
There are four ways to make Panama your permanent place of residence
If you are sold on the idea of leaving the US and coming to spend your life in Panama, you should remember there are four primary methods you can use:
- You can invest in Panama by buying or starting a business.
- You can purchase Panama real estate. Renting real estate in Panama is a huge business, so your investment in Panama property should pay off.
- There is another option for those coming from “friendly” nations to obtain a residency visa without meeting too many requirements.
- If you are not eligible for any of the above mentioned, you can settle down for good by marrying a Panamanian citizen.
Things US citizens flocking to Panama should consider
Whenever someone leaves their home country for a new place, it calls for some learning and getting used to new surroundings. The first thing you need to remember when coming to live in Panama is that we speak Spanish. Because the ex-pat community is large and widespread, many Panamanians can communicate in English. If you come on vacation looking for Panama rentals, you will undoubtedly find some great real estate agents who speak perfect English. However, taking a few Spanish lessons should have its benefits when deciding to live here permanently.
Another thing to consider is the weather. If you are coming from the US, you might be used to a different climate. The climate in Panama is characteristic because it is humid and warm all year round. There is a dry season, starting in January, and a rainy season beginning in May. It may take some time to get used to the weather conditions, especially if you come from places with lower temperatures.
Final words to help you decide
With premium housing at reasonable prices, low cost of living, and some excellent healthcare options, Panama is coming to the top of the list of desirable countries for ex-pats. If you were wondering why there are so many US citizens flocking to Panama, now you know. Panama will blow you away with its natural beauty, cultural heritage, and complete readiness to accommodate different people from all over the world. You will find yourself fully immersed and ready to spend the rest of your life in this beautiful place.