Moving to
Panama
The real numbers for Panama: take-home pay after tax, the true cost of living in Panama City, and how expats and nomads get a visa.
Take-home pay
Net salary in Panama after income tax and social security:
Panama taxes only Panama-source income on a territorial basis, so foreign remote income is generally untaxed; local brackets top out at 25%.
Cost of living · Panama City
Visa
The Short-Stay Remote Worker visa requires ~$36,000/year ($3,000/month) of foreign income and is valid up to 9 months, renewable once.
Typical income requirement: $3,000/month.
Panama City is comfortable for expats, with opportunistic theft the main everyday concern.
Dial 911 for police, ambulance or fire.
Get paid in your home currency, spend in USD, skip the ~3% bank markup.
Nomad-friendly cover that works from day one — most visas require it.
Moving to Panama — FAQ
Is there income tax in Panama?
Yes. Panama taxes income on progressive brackets. On a $60,000 salary the effective rate is about 23.7%, leaving roughly $45,800.
Can digital nomads get a visa for Panama?
Yes — The Short-Stay Remote Worker visa requires ~$36,000/year ($3,000/month) of foreign income and is valid up to 9 months, renewable once.
How much does it cost to live in Panama City?
A single person needs roughly $1,300/month in Panama City, and a family around $3,200/month, all-in.