We feature stories we’ve heard from those who have made the decision to move to Panama. Their stories aren’t uncommon, and it helps to read the experiences of others who have made the huge decision to move to this tropical paradise.

The Comforts of Home… Just More Luxurious

After moving to Panama, Jeff and his wife felt very lucky. They found a cool apartment in Panama City with stunning views of the Gulf of Panama. The condo is loaded with modern amenities and smart technology that helped make their lifestyle comfortable and luxurious. Panama uses the American dollar as its currency, so Jeff, as a digital nomad, earns an American-level income while residing in Panama with their lower cost of living. That means Jeff’s dollars go a lot farther. He and his wife hired a cleaning service that would have been beyond their means living in Houston, and they have a personal chef cook their dinners every night during the week. It’s a fabulous way to live.

Very Favorable Taxes

Jeff already knew that Panama was a tax haven before he moved here. What he realized is that it’s one of those things that you can’t truly appreciate until you experience it. Jeff’s dollars stretch farther due to the cost of living, and he’s also not paying anything to Panama in taxes. He’s essentially working in a tax-free environment, so he gets to keep more of his money, and it’s stretching farther than it was stateside. It’s a win-win-win.

What Seemed Like a Challenge Became an Opportunity

As smooth as the professional transition was, the personal transition offered up some other challenges. Jeff speaks a limited amount of Spanish, which is the native language of Panama. While you can get by in Panama with limited Spanish, Jeff immediately understood that immersing himself in the culture meant becoming more proficient in speaking the language. His wife was looking for business opportunities and saw this challenge as an opportunity.

Figuring other expats had the same issue, she opened a foreign language school that teaches Spanish to English speakers. With continued success, she’ll be able to expand to teaching Spanish to other European language speakers and some Asian language speakers. There is an excellent opportunity in this sector since people from all over the world move to Panama every year.

Lots Of Opportunities to Socialize

The other challenge they faced when they arrived was making new friends. It doesn’t matter how beautiful a country is or what economic benefits it offers. It won’t be a good existence if you don’t have friends to share experiences with. Fortunately, Panama, with its festivals, parades, and dynamic nightlife, provided Jeff and his wife with ample opportunities to meet people and make friends.

As lucky as Jeff and his wife feel, they make smart decisions. They learn about Panama and how to take advantage of its opportunities. But they don’t go into it blindly, hoping to get lucky. They go into it smartly and make their own luck. And it’s better to be smart than lucky.

Does Living in Panama Sound Interesting?

If you’re considering a relocation, why not consider Panama? So many others have found exactly what they were looking for in this tropical paradise. If we can help make your dreams come true, please don’t hesitate to contact us. We’ve been working with expats for years. And we can help you, too.