Panama City, Panama 🇵🇦
#860
8.971449, -79.53418
Nomad Score:
71%
Essentials
| 🏙️ City | Panama City is the capital of Panama, known for its modern skyline and vibrant culture. |
| 👥 Population | Approx. 1.5 million residents. |
| 💻 Internet Speed | Average internet speed is around 50 Mbps. |
| 💸 Currency & Banking | Currency is the Panamanian Balboa (PAB), pegged to the US Dollar (USD). 1 PAB ≈ 1 USD. |
| 🚰 Tap Water | Tap water is considered drinkable in most areas of Panama City. |
| 🔌 Power | Electricity is 120V, 60Hz, with NEMA 1-15 Type A and B plugs. |
| 📶 SIM Card | Major providers include Claro, Movistar, and Digicel, with prepaid options available. |
| 💳 Banking for Expats | Common banks include Banco Nacional, Banistmo, and HSBC, widely accepting Visa and Mastercard. |
| 🛌 Accommodation | Options include Airbnb, local hostels, and serviced apartments like The Bristol Hotel. |
| 💳 Cashless Friendly | Yes, cards are widely accepted in urban areas. |
| 🏠 Short Term Rentals | Airbnb and Booking.com are popular for short-term stays. |
| 🛏️ Budget Accommodation | Hostels such as Luna Castle Hostel offer affordable prices starting at $15 per night. |
Working and Networking
| 🏢 Best Coworking Space | Spaces is a popular coworking option located in Costa del Este. |
| ☕ Best Cafe for Work | Cafe de Tere in El Cangrejo is highly rated for its work-friendly environment and Wi-Fi. |
| 💼 Networking Events | Meetup events organized by Panama Entrepreneurs are popular among expats. |
| 🥂 Social Events for Expats | Groups on Facebook such as 'Panama Expats' offer regular meetups and events. |
Transportation
| 🚕 Best Taxi/Ride App | Uber operates efficiently in Panama City for affordable rides. |
| 🚲 Bike/Scooter Rental | Urban transportation via bike rentals is available through services like BiciMetro. |
| 🏖️ Best Beach Nearby | Taboga Island is the closest beach, about a 30-minute ferry ride from the city. |
| ✈️ Top Regional Airline | Air Panama provides regional connections across Central America. |
| ✈️ Top International Airline | Copa Airlines is the primary carrier, linking Panama City globally. |
| 🛣️ Highway Access | Interamerican Highway provides easy access toward the interior of the country. |
| 🚉 Main Train/Transit Hub | The Albrook Bus Terminal is the largest transit hub in the city. |
| 🚍 Public Transport Passes | The integrated Metro and bus system allows use of the Metrobus card for smooth travel. |
| ✈️ Regional Travel | Buses from Albrook Terminal travel regularly to nearby towns and cities. |
Health and Wellness
| 🏥 Best Hospital | Hospital Punta Pacifica is a modern facility catering to both locals and expats. |
| 🧘 Yoga & Wellness Centers | Bikram Yoga Panama offers sessions in various styles of yoga. |
| 🏋️ Gyms & Fitness Centers | Gold's Gym is a well-equipped facility popular among locals and expats. |
| 🧺 Laundry Services | Laundry services like Lavaseco Expresto offer quick and reliable options. |
Food and Drink
| 📱 Best Food Delivery App | Rappi and Uber Eats are the leading food delivery platforms. |
| 🍽️ Best Local Dish to Try | Sancocho, a traditional chicken soup, is a must-try dish in Panama. |
| 🍱 Vegan/Vegetarian Options | Restaurante Vega offers delicious vegan dishes and is popular with health-conscious diners. |
| 🍫 Best Dessert Spots | Gelateria La Gioia is known for its artisanal gelato. |
| 🛒 Affordable Shopping Spots | El Terraplén market provides a variety of local produce at budget-friendly prices. |
| 🛒 E-commerce/Online Store | Local websites such as MercadoLibre offer a range of products online. |
| 🛒 Grocery Delivery | Supermercados Rey provide online shopping and delivery services. |
| 🍸 Bar/Nightlife Area | Casco Viejo is the bustling district known for its vibrant nightlife. |
| 🍻 Local Brewery | Panama Brewery Company produces some popular local beers such as Balboa. |
| 🍷 Wine Bars | La Vinoteca offers a selection of local and imported wines. |
| 🍲 Street Food Stalls | Street vendors near the Albrook Mall serve traditional snacks and meals. |
| 🍕 Popular International Cuisine | Da Rang Thai serves delicious Thai cuisine and is highly favored by expats. |
Culture and Attractions
| 🎟️ Must-See Landmarks | The Panama Canal is an iconic engineering marvel and a must-visit. |
| 🏛️ Museums & Art Venues | The Biomuseo showcasesPanama's biodiversity and history. |
| 🏰 Historical Sites | Casco Viejo is a UNESCO World Heritage site filled with colonial architecture. |
| 🕍 Religious Sites | The Metropolitan Cathedral of Panama City offers stunning architecture. |
| 🎉 Annual Events | Carnival in Panama is a lively celebration held annually with music and parades. |
| 🎨 Cultural Districts | Casco Viejo features vibrant street art and cultural life. |
| 🎭 Theater Venues | Teatro Nacional is known for its rich history and performances. |
| 🛍️ Local Markets | Mercado de Mariscos is famous for its fresh seafood and local cuisine. |
| 🎼 Music Scene | El Templo de la Salsa is an essential venue for salsa music lovers. |
| 🎨 Street Art | The streets of Casco Viejo feature colorful murals and graffiti art. |
| 🧑🍳 Cooking Classes | Los Deliciosos offers cooking classes focusing on traditional Panamanian cuisine. |
| 👩🎨 Art Galleries | The Panama Art Museum showcases local and international artists. |
| 🕰️ Historic Buildings | The French Embassy is a historic building worth visiting. |
| 🏴 Local Heritage | Panama's cultural heritage is rich and diverse, influenced by its indigenous people and colonial history. |
Nature and Outdoor Activities
| 🌅 Nearby Nature Escapes | Metropolitan Natural Park offers lush greenery and walking trails. |
| 🏞️ National Parks Nearby | Soberania National Park is a short drive away and is great for hiking. |
| 🚲 Cycling/Walking Paths | The Cinta Costera provides scenic paths for walking and cycling along the coast. |
| 🌄 Scenic Viewpoints | Ancon Hill offers panoramic views of the city and the Panama Canal. |
| 🦉 Birdwatching Locations | Soberania National Park is renowned for its rich birdlife and trails. |
| 🔥 Bonfire-Friendly Spots | Certain beaches, such as Punta Chame, allow bonfires with appropriate permission. |
Other Services and Amenities
| 📦 Parcel Delivery Service | DHL and FedEx both offer reliable shipping services. |
| 🛠️ Tech Repair Services | iPhone Repair Panama offers a range of tech repair services. |
| 🏓 Table Tennis Spots | Local sports clubs often have facilities for table tennis. |
| 🧑🏫 Language Classes | Panama Language Academy offers Spanish courses for expats. |
| 📚 Libraries & Study Spots | Biblioteca Nacional de Panama is a centrally located library for study. |
| 🏘️ Community Centers | Centro Cultural de España offers cultural programs and community events. |
| 🕹️ Gaming Lounges | Infinity Gaming Lounge provides a fun environment for gamers. |
| 🎰 Casino & Gaming Halls | Sortis Hotel & Casino offers various gambling options. |
Business
| 🏢 Studio Purchase Price (City Center) | Approx. $2,500 per m² (e.g., 40 m² = $100,000) |
| 🏢 Studio Purchase Price (Outside City) | Approx. $1,800 per m² (e.g., 40 m² = $72,000) |
| 🏠 1-Bedroom Purchase Price (City Center) | Approx. $3,200 per m² (e.g., 60 m² = $192,000) |
| 🏠 1-Bedroom Purchase Price (Outside City) | Approx. $2,000 per m² (e.g., 60 m² = $120,000) |
| 🏡 2-Bedroom Purchase Price (City Center) | Approx. $3,000 per m² (e.g., 80 m² = $240,000) |
| 🏡 2-Bedroom Purchase Price (Outside City) | Approx. $2,500 per m² (e.g., 80 m² = $200,000) |
| 💼 Corporate Tax | 25% standard corporate tax rate. |
| 💵 Dividend Withholding Tax | 10% tax on dividend distributions. |
| 🏦 Tax System | Panama operates on a territorial tax system. |
| 📈 Highest Income Tax Bracket | Maximum personal income tax rate is 25%. |
| 🧾 VAT | Standard VAT rate is 7%. |
| 🌐 Controlled Foreign Company (CFC) Rules | Yes, Panama has regulations for foreign-owned companies. |
| 🏠 Property Tax | Property tax applies based on the declared value of the property. |
| 🏠 Property Transaction Tax | 2% is the standard rate on property transactions. |