In the News from Panama

Panama Top Spot for Digital Nomads

Panama is growing into a top destination for digital nomads, who have jobs but can work anywhere in the world.

In many ways, Panama is the perfect location for digital nomads. There is great internet infrastructure, few language issues, and easy flights to anywhere in the world — it is, in fact, the Hub of the Americas. Last year, the Panama government made it even easier by introducing a Short Term Visa for Remote Workers, allowing foreign nationals to live and work from Panama for nine months, with the ability to extend for another nine months.

The Short Term Visa, which is also known as the Digital Nomad Visa, is really a great deal. It cuts down on the paperwork and the requirements are easy to meet — primarily $36,000 a year in verifiable income. Even self-employed can apply for the visa, as long as they can show a contract with a foreign company.

At PPR, we’ve seen an immediate impact from the new visa. As the largest property manager in the city, we noticed a jump in rental activity, especially from solo travelers and young couples. We’ve been working with several companies that are working with digital nomads and helping them settle into Panama life.

We’ve also seen digital nomads taking advantage of our 45-day executive stay program at the Yoo. Our exclusive arrangement offers fully-furnished apartments in one of Panama City’s best downtown buildings for 45 days or more, providing a perfect opportunity to explore the city and discover all the benefits of working remotely here.

For our owners, the digital nomad trend provides one more source for steady renters and is another example of how Panama’s proactive approach to business supports the property industry. The government has also made it easy for multinational corporations to set up operations in Panama, which creates a steady stream of executives looking for rentals.

Thanks to everything Panama has to offer, we expect to see a consistent flow of digital nomads over the next few years.