October 10, 2024 – Panama: Affordable Living in a Growing Hub
Published Date: 10th Oct, 2024
Panama is fast becoming a favorite for expats due to its affordability, ease of residency programs, and growing economy.
Cost of Living:
Monthly expenses in Panama are typically $1,200 to $2,000.
Utilities such as electricity, water, and internet cost around $100 to 200 per month.
Rent Prices:
In Panama City, a one-bedroom apartment costs between $600 to $1,200 per month.
In smaller cities, rents range from $400 to $800 per month.
Job Opportunities:
Panama’s key sectors include Finance, Shipping, Real Estate, and Tourism. English-speaking professionals and IT experts are highly sought after.
Minimum Financial Commitment:
You will need around $15,000 to $20,000 to cover moving expenses and visa application costs.
Residency & Citizenship:
Residency: The Friendly Nations Visa requires a $5,000 deposit in a Panamanian bank and proof of income or business.
Citizenship: Available after 5 years of continuous residency.
How ALand Can Help: ALand works with experienced legal teams in Panama to help streamline your relocation. For more information, visit ALand ABC.
Date: 10th Oct, 2024
