If so, you need to plan carefully BEFORE you move to Panama.
Although getting a job in Panama is easier than it used to be.
There are still paperwork and bureaucratic hurtles to get through.
Even if you do get through all those hurtles, for the most part, the pay in Panama is not high.
Before you even start doing the paperwork, you should find out if you will receive a living wage.
If you are a doctor, dentist, or chiropractor, you cannot practice in Panama unless you are married to a Panamanian – and, of course, complete all the paperwork.
Start A Business In Panama
Of course, most business – anywhere – in the world are ultimately not successful.
However, many ex-pat have started successful businesses here in Panama.
I know a family that have started 2 successful businesses here in Puerto Armuelles and on Punta Burica. Again, there is much paperwork and restrictions for foreigners to start a business.
It can be done, but before you make that your income generating plan, you need to fully investigate what such a venture entails.
The easiest way to earn money abroad in Panama is to earn your money elsewhere.
We work in Panama.
But the source of our earnings are not in Panama.
There are many ways to pull this feat off.
- “Tele-commuting” in your current job
- Teaching English on line or in person
- On-line customer service
- Medical Encryption
- Market your skill on free lance sites such as elance.com and odesk.com
- Internet marketing
- Affiliate marketing
- There are a myriad of businesses, and jobs, that you can do fully using only your computer and phone. Jobs and businesses that are based in the US, Canada, Europe, etc..
FYI: You do not need to pay Panama income tax on income that is earned outside of Panama.
My wife and I have been doing our workout on moving to Panama. I earn a pension from being injured on the job. I will receive that for the rest of my life; however my wife was looking for an income earning venture if we move. How fluent does she need to be in Spanish if she is going to teach English on-line?
Good Morning! I am planning my trip to Panama for the first week in December 21013. I am hoping it’s everything I want for my new retirement home in 2014-away from the USA. I am 58 and will live on my savings until my SS kicks in at 62. How does the rule to have $1K guaranteed apply here? I need to know what cell phone provider to use, GPS, B&B’s to stay at, SUV rentals, best place for single F to live and be safe. TY TY!
Hello, my husband and I are thinking about Panama as a retirement place. We are familiar with the difficulties of living in a Latin country, having spent a year in Veracruz, Mexico. Our situation now requires two things: first, we need a completely handicapped accessible home, and secondly, we would like to bring the couple who are our caregivers (and their four year old daughter) with us. They have been with us for many years, and we cannot imagine living anywhere without them. The young man could seek outside work in addition to his time with us, at least for… Read more »
Hi my name is Stacia am a Jamaican who is living in Jamaica and am married to a Canadian who is living in Canada. We both are thinking of living in Panama and doing business, am also seeking a job in the tourist industry in the mean time. My husband and I are coming to Panama in January Gods willing, so my question to you is what are my chances of getting a job there? I am multi skill in many areas in the hotel field such as Food Preparation, Food & Beverage, Housekeeping, Bartering, Waiting, Front Office and Managerial… Read more »
Hello- I was wondering. If I come to Panama under the pensionado program and then my wife and I start up a business such as a Gringo hair salon since my wife will be only 48 and this is her profession, are you then allowed to bring dependents such as a 19 year old and 22 year old as your employees? I am asking this because as I understand the visa rule, dependents over 18 must be full time university students but my children won’t be students. We do however want to bring them along with us to Panama to… Read more »