Essentials
- City
- Panama City, Panamá Province, Panama
- Population
- Approximately 1,900,000 (Metropolitan Area)
- Internet Speed
- Average 120-150 Mbps (Fiber available widely in Marbella and Costa del Este)
- Currency & Banking
- USD (Official) and PAB (Balboa, pegged 1:1). ATMs dispense USD.
- Tap Water
- Drinkable and safe from the tap in Panama City; high quality filtration used.
- Power
- 120V, 60Hz, 🔌 Type A/B sockets (Same as USA/Canada)
- SIM Card
- Tigo or Más Móvil. $15 USD for 15 days of unlimited data.
- Banking for Expats
- Banco General, Banistmo, and Scotiabank. Revolut/Wise work for withdrawals.
- Accommodation
- Luxury high-rises in Punta Pacifica (~$1,800/mo) or colonial flats in Casco Viejo ($2,500/mo).
- Cashless Friendly
- Yes, credit cards accepted in 95% of city establishments; cash needed for 'diablos rojos' buses.
- Short Term Rentals
- Airbnb, Selina Casco Viejo, and Panama Casa (Monthly rentals from $1,200).
- Budget Accommodation
- Magnolia Inn (Casco Viejo) - approx. $25/night for dorms, $80/night private.
- Best Area to Stay for Tourists
- Casco Viejo (Historic District) for charm, architecture, and nightlife.
- Best Area to Stay for Digital Nomads
- El Cangrejo (walkable, cafes, Via Argentina) or Bella Vista (near Ribbon park).
Working and Networking
- Best Coworking Space
- Workings (multiple locations like Costa del Este and Obarrio) - ~$250/month.
- Best Cafe for Work
- Mentiritas Blancas (El Cangrejo) - Excellent coffee and laptop-friendly tables.
- Networking Events
- Panamá Coworking Center meetups and 'Innovation Center' events at Ciudad del Saber.
- Social Events for Expats
- Expats in Panama City Facebook Group and InterNations monthly mixers at Sortis Hotel.
Transportation
- Best Taxi/Ride App
- Uber (most reliable) and InDrive (cheaper, cash-heavy).
- Bike/Scooter Rental
- Cinta Costera bike rentals near Hotel Miramar - approx. $5/hour.
- Best Beach Nearby
- Playa Blanca (2 hours drive) or Taboga Island (30-min ferry for $24 roundtrip).
- Top Regional Airline
- Copa Airlines (Hub of the Americas at PTY Airport).
- Top International Airline
- Copa Airlines, United, Air France, KLM.
- Highway Access
- Corredor Sur (toll road connecting PTY to City) and Corredor Norte.
- Main Train/Transit Hub
- Albrook Terminal (Central hub for Panama Metro Line 1 and national buses).
- Public Transport Passes
- Metro Card ($2 USD for card) - Metro rides $0.35, MetroBus $0.25.
- Regional Travel
- Bus from Albrook to David/Boquete ($15-$20) or ferry to Pearl Islands.
Health and Wellness
- Best Hospital
- Pacifica Salud (Johns Hopkins Medicine International affiliate) in Punta Pacifica.
- Yoga & Wellness Centers
- El Arte de Vivir (Obarrio) or PTY Yoga Center (San Francisco).
- Gyms & Fitness Centers
- PowerClub (Panama City's largest chain) - ~ $70-$90/month.
- Laundry Services
- Lavanderia Super Clean (various locations) - ~ $1.50 per lb for wash/dry/fold.
Food and Drink
- Best Food Delivery App
- PedidosYa (The dominant local delivery app).
- Best Local Dish to Try
- Sancocho (Chicken stew) or Ceviche at the Mercado de Mariscos.
- Vegan/Vegetarian Options
- Dodo Bon Pan (Casco Viejo) and Karma Cafe (El Cangrejo).
- Best Dessert Spots
- La Michoacana (Ice cream) and Ascanio's Pastry Shop.
- Affordable Shopping Spots
- Albrook Mall and Los Pueblos for high-volume discount shopping.
- E-commerce/Online Store
- Amazon (via freight forwarders like Airbox Express) and Encuentra24.
- Grocery Delivery
- Riba Smith (Online/App) and Supermercados Rey.
- Bar/Nightlife Area
- Casco Viejo (Rooftop bars like Selina or Tántalo).
- Local Brewery
- La Rana Dorada (Multiple locations including El Cangrejo and Casco).
- Wine Bars
- Miro Wine Bar and The Wine Bar (Hotel El Panama).
- Street Food Stalls
- Mercado de Mariscos (Seafood market) for $3-5 cups of ceviche.
- Popular International Cuisine
- Lucca (Italian, San Francisco) and Gaucho’s (Steakhouse).
Culture and Attractions
- Must-See Landmarks
- The Panama Canal (Miraflores Locks) - $20 USD entry.
- Museums & Art Venues
- Biomuseo (designed by Frank Gehry) on the Amador Causeway.
- Historical Sites
- Panamá Viejo (The original city ruins destroyed by pirates).
- Religious Sites
- Metropolitan Cathedral and San José Church (Golden Altar).
- Annual Events
- Carnival (February/March) and Panama Jazz Festival (January).
- Cultural Districts
- Casco Antiguo/Viejo (UNESCO World Heritage Site).
- Theater Venues
- Teatro Nacional (Casco Viejo) recently renovated.
- Local Markets
- Mercado de Artesanías de Balboa for Guna Yala 'Molas'.
- Music Scene
- Jazz at Danilo’s Jazz Club; Salsa at Habana Panama.
- Street Art
- Vibrant murals throughout Avenida Central and El Chorrillo.
- Cooking Classes
- Panama Gourmet Cooking Classes in San Francisco.
- Art Galleries
- DiabloRosso (Contemporary Art) in Casco Viejo.
- Historic Buildings
- Palacio de las Garzas (Presidential Palace).
- Local Heritage
- Pollera (Traditional dress) and Panama Hat tradition.
Nature and Outdoor Activities
- Nearby Nature Escapes
- Parque Metropolitano (A rainforest within city limits).
- National Parks Nearby
- Soberania National Park (Pipeline Road for birding) - 45 mins away.
- Cycling/Walking Paths
- The Amador Causeway (6km path connecting 4 islands).
- Scenic Viewpoints
- Ancon Hill (Cerro Ancon) - Best panoramic view of the skyline and canal.
- Birdwatching Locations
- Pipeline Road (Soberania) - World famous for tropical bird counts.
- Bonfire-Friendly Spots
- Not permitted in city; allowed at Veracruz beach bonfires (20 mins away).
Other Services and Amenities
- Parcel Delivery Service
- Mail Boxes Etc. and DHL.
- Tech Repair Services
- Mac Store (Multiplaza) and various independent shops in El Dorado Mall.
- Table Tennis Spots
- Metropolitan Table Tennis Club.
- Language Classes
- Spanish Panama (El Cangrejo) - Private and group lessons.
- Libraries & Study Spots
- Biblioteca Nacional Ernesto J. Castillero R. in Parque Omar.
- Community Centers
- Ciudad del Saber (City of Knowledge) - Campus for NGOs and tech.
- Gaming Lounges
- Arena PTY for esports and gaming.
- Casino & Gaming Halls
- Veneto Casino and Ocean Sun Casino (JW Marriott).
Business
- Studio Purchase Price (City Center)
- Approx. $2,800 per m² (e.g., 45 m² = $126,000)
- Studio Purchase Price (Outside City)
- Approx. $1,900 per m² (e.g., 45 m² = $85,500)
- 1-Bedroom Purchase Price (City Center)
- Approx. $2,600 per m² (e.g., 65 m² = $169,000)
- 1-Bedroom Purchase Price (Outside City)
- Approx. $1,700 per m² (e.g., 65 m² = $110,500)
- 2-Bedroom Purchase Price (City Center)
- Approx. $2,400 per m² (e.g., 90 m² = $216,000)
- 2-Bedroom Purchase Price (Outside City)
- Approx. $1,500 per m² (e.g., 90 m² = $135,000)
- Corporate Tax
- 25% (On Panama-sourced income only).
- Dividend Withholding Tax
- 10% (Local source), 5% (Foreign source or export income).
- Tax System
- Territorial Tax System (Only income earned within Panama is taxed).
- Highest Income Tax Bracket
- 25% (For income over $50,000 PAB).
- VAT
- 7% (Known as ITBMS).
- Controlled Foreign Company (CFC) Rules
- No, Panama does not have CFC rules.
- Property Tax
- Yes, progressive rates from 0% to 0.7% depending on value and primary residence status.
- Property Transaction Tax
- 2% Property Transfer Tax + 3% Advance Capital Gains Tax paid by seller.
- Attractive Tax System for Digital Nomads
- 0% tax on foreign-earned income through the Territorial Tax System.