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Panama City, Panama πŸ‡΅πŸ‡¦

#860 ,
Nomad Score: 70%

Essentials

πŸ™οΈ City Capital of Panama; known for its modern skyline and the Panama Canal.
πŸ‘₯ Population Approx. 1.5 million.
πŸ’» Internet Speed Average of 60 Mbps.
πŸ’Έ Currency & Banking 1 USD = 1 USD; US Dollar is the official currency.
🚰 Tap Water Generally safe to drink but recommended to use filtered water.
πŸ”Œ Power 110V, 60Hz, πŸ”Œ Type A/B sockets.
πŸ“Ά SIM Card Major providers include Claro, Movistar, and Digicel.
πŸ’³ Banking for Expats Popular services include HSBC, Banistmo, and Global Bank.
πŸ›Œ Accommodation Airbnb, Booking.com, and local options available.
πŸ’³ Cashless Friendly Yes, cards accepted widely; cash is still commonly used.
🏠 Short Term Rentals Airbnb is widely available; average cost is around $40-$100 per night.
πŸ›οΈ Budget Accommodation Hostels like Luna’s Castle and Casa Anita offer budget stays.
πŸ™οΈ Best Area to Stay for Tourists Casco Viejo; known for its historic sites and vibrant nightlife.
πŸ™οΈ Best Area to Stay for Digital Nomads Obarrio; offers a mix of cafes, coworking spaces, and apartments.

Working and Networking

🏒 Best Coworking Space Impact Hub Panama; great community and amenities.
β˜• Best Cafe for Work Cafe Unido; excellent coffee and reliable WiFi.
πŸ’Ό Networking Events Meetup.com groups for entrepreneurs and remote workers.
πŸ₯‚ Social Events for Expats Panama Expats Facebook group for gatherings and activities.

Transportation

πŸš• Best Taxi/Ride App Uber; reliable and widely used.
🚲 Bike/Scooter Rental Try SuperBike for scooter rentals throughout the city.
πŸ–οΈ Best Beach Nearby Playa Veracruz; about 30 minutes from downtown.
✈️ Top Regional Airline Air Panama; connects to internal destinations.
✈️ Top International Airline Copa Airlines; main carrier connecting to North and South America.
πŸ›£οΈ Highway Access InterAmerican Highway (Pan-American Highway) provides major access.
πŸš‰ Main Train/Transit Hub Albrook Terminal; serves buses and transportation options.
🚍 Public Transport Passes MetroBus cards can be purchased for local transport.
✈️ Regional Travel Buses available to Colón, David, and other regional cities.

Health and Wellness

πŸ₯ Best Hospital Hospital Punta Pacifica; private facility affiliated with Johns Hopkins.
🧘 Yoga & Wellness Centers Zoe Yoga; offers classes and wellness programs.
πŸ‹οΈ Gyms & Fitness Centers Bally's Fitness; widespread locations and membership options.
🧺 Laundry Services Lavandería La Estrella; reliable and affordable services.

Food and Drink

πŸ“± Best Food Delivery App Uber Eats; wide selection of restaurants.
🍽️ Best Local Dish to Try Sancocho; a traditional chicken soup.
🍱 Vegan/Vegetarian Options Restaurante Verde; dedicated vegan menu.
🍫 Best Dessert Spots Dolce Italia; famous for its gelato and pastries.
πŸ›’ Affordable Shopping Spots Mercado de Mariscos; fresh seafood market.
πŸ›’ E-commerce/Online Store PanamaBuy; local online shopping platform.
πŸ›’ Grocery Delivery Rappi; grocery and food delivery service.
🍸 Bar/Nightlife Area Calle Uruguay; popular for bars and nightclubs.
🍻 Local Brewery Casa Bruja; craft brewery with tastings.
🍷 Wine Bars Vinoteca; known for its selection of international wines.
🍲 Street Food Stalls Street vendors in Casco Viejo offer fresh ceviche.
πŸ• Popular International Cuisine Los del Bocas; famous for its fusion food.

Culture and Attractions

🎟️ Must-See Landmarks Panama Canal; an engineering marvel.
πŸ›οΈ Museums & Art Venues Biomuseo; showcases biodiversity.
🏰 Historical Sites Casco Viejo; UNESCO World Heritage site.
πŸ• Religious Sites Metropolitan Cathedral; stunning architecture.
πŸŽ‰ Annual Events Carnival; vibrant celebrations every February.
🎨 Cultural Districts Casco Viejo; rich in history and culture.
🎭 Theater Venues Teatro Nacional; features performances and concerts.
πŸ›οΈ Local Markets El Mercado de Santa Ana; local food and crafts.
🎼 Music Scene Jazz Fest; annual events showcasing local talent.
🎨 Street Art Estudios de Arte; murals throughout the city.
πŸ§‘β€πŸ³ Cooking Classes Cooking Panama; offers classes in traditional Panamanian cuisine.
πŸ‘©β€πŸŽ¨ Art Galleries Galeria de Arte Indigena; features indigenous art.
πŸ•°οΈ Historic Buildings Palacio de las Garzas; the President's office.
🏴 Local Heritage The Kuna and Ngabe tribes; rich cultural history.

Nature and Outdoor Activities

πŸŒ… Nearby Nature Escapes Metropolitan National Park; close access to nature trails.
🏞️ National Parks Nearby Soberania National Park; known for its biodiversity.
🚲 Cycling/Walking Paths Cinta Costera; scenic coastal walkway.
πŸŒ„ Scenic Viewpoints Ancon Hill; offers panoramic views of the city.
πŸ¦‰ Birdwatching Locations Pipeline Road; popular for birdwatching tours.
πŸ”₯ Bonfire-Friendly Spots Playa Serena; allows bonfires in designated areas.

Other Services and Amenities

πŸ“¦ Parcel Delivery Service DHL and FedEx; both available for international shipping.
πŸ› οΈ Tech Repair Services Panama Tech; offers a variety of tech repair services.
πŸ“ Table Tennis Spots Table Tennis Club at Balboa; facilities available.
πŸ§‘β€πŸ« Language Classes Spanish classes at Habla Ya; popular with expats.
πŸ“š Libraries & Study Spots Biblioteca Nacional; good resources for studying.
🏘️ Community Centers Casa Cultural Huella; hosts various community events.
πŸ•ΉοΈ Gaming Lounges Geek House; a popular spot for gamers.
🎰 Casino & Gaming Halls Sortis Hotel & Casino; features gaming and entertainment.

Business

🏒 Studio Purchase Price (City Center) Approx. $2,800 per m² (e.g., 40 m² = $112,000).
🏒 Studio Purchase Price (Outside City) Approx. $2,000 per m² (e.g., 40 m² = $80,000).
🏠 1-Bedroom Purchase Price (City Center) Approx. $2,600 per m² (e.g., 60 m² = $156,000).
🏠 1-Bedroom Purchase Price (Outside City) Approx. $1,800 per m² (e.g., 60 m² = $108,000).
🏑 2-Bedroom Purchase Price (City Center) Approx. $2,400 per m² (e.g., 80 m² = $192,000).
🏑 2-Bedroom Purchase Price (Outside City) Approx. $1,600 per m² (e.g., 80 m² = $128,000).
πŸ’Ό Corporate Tax 25% for local companies.
πŸ’΅ Dividend Withholding Tax 10% for dividends paid.
🏦 Tax System Local taxes are on a territorial basis.
πŸ“ˆ Highest Income Tax Bracket 25% for income over $100,000.
🧾 VAT Standard VAT rate is 7%.
🌐 Controlled Foreign Company (CFC) Rules Panama does not impose CFC rules.
🏠 Property Tax 1% of the property value above $30,000.
🏠 Property Transaction Tax 2% on the value of the property purchased.
πŸ’» Attractive Tax System for Digital Nomads Tax incentives available through the Friendly Nations Visa.

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