Panama gives Veterans something that’s become harder and harder to find back home – comfort and peace. It’s a new life here without giving up the conveniences of the states. Panama uses the US dollar, has a great pension visa, established Vet communities and easy flights back stateside.
“The Veteran community here is growing every day and Vets are building a different kind of life in paradise“
Cost of Living
We want our money, our pensions and our VA compensation to go further. But the goal isn’t only to live somewhere cheaper, it’s to live somewhere better. The question most Veterans ask is some variation of “How much does it cost monthly to live there?”
| Budget-conscious single veteran | $1,500–$2,000 |
| Comfortable single veteran | $2,000–$3,000 |
| Comfortable couple | $3,000–$4,000 |
| Luxury Panama City lifestyle | $3,500–$5,000 |
Where To Go?
If you want a luxurious life, popping bottles and living in a penthouse, it’s going to cost you. Panama City has certain neighborhoods: Punta Pacifica, Costa del Este and Marbella where a nice apartment is going to cost you 2 G’s a month or more.
If you want a cheaper, slower kind of life then Panama has that too. For a veteran who wants to save some cash but still have decent access to hospitals and conveniences: Chitré or Santiago are options to look at. If you want island living, then research Bocas Del Toro.
If a cooler climate and mountain retirement sounds appealing to you. Then Boquete is one of the most popular retirement destinations for Americans. There’s a large English-speaking population, coffee plantations and lots of restaurants. If you’re more into hiking and gardening, opposed to nightlife then it’s worth a look. It’s not cheap anymore but nearby Volcán is more affordable.
Saving money and living cheaply is great but the important thing is figuring out what kind of lifestyle you want. I wouldn’t live in a place where you’re isolated, bored or far from the things that make you happy.
The more Spanish you speak, the easier life is. You can get by in expat communities with only English in Panama but even basic Spanish will make your life simpler.
The Visa Situation
Who qualifies?
You do if you have $1,000 a month in a pension or VA compensation. Plus $250 more for each additional dependent. But that doesn’t mean you can live here on $1,000 a month.
What’s the age requirement?
None. I’ve met Veterans in there 20s on pension/retirement visas here.
What about taxes?
This is where Panama shines over other places – they only tax income made within the country. To explain that as clearly as possible – all foreign income, remote income and pensions aren’t taxed.
What do I get with it?
A lot actually. It’s the most generous pension visa in the world. Check out all the discounts available below for Veterans on a pension visa. It’s like Veterans Day every day here in Panama.
| Restaurants | 25% |
| Franchise fast food | 15% |
| Movie theaters, sporting events, and entertainment | 50% |
| Hotels, Monday–Thursday | 50% |
| Hotels, Friday–Sunday | 30% |
| Airline tickets | 25% |
| Intercity buses, trains, and boats | 30% |
| General and specialist doctor consultations | 20% |
| Private hospitals and clinics | 15% |
| Dental and optometry services | 15% |
| Prescription medications | 20% |
| Residential electricity, up to 600 kWh | 25% |
What about a bank deposit for the visa?
Not necessary. Some countries like Thailand and even the Philippines require you to deposit cash in one of their banks for the retirement visas.
But how much time does it take to get?
Honestly, they have this shit down it seems. It’s a pretty straightforward process. You can get your temporary within a week and permanent within a month or two.
Where do I go to get it?
There are lots of options and you should go with what you want but I recommend PanaJungla advisory. It’s owned by a Veteran that I’ve known for 5+ years and many Vets that have gotten their visas through him. I’ve hung out with Jay in both Colombia and Panama and he puts out a lot of information on his TikTok and Instagram for Veterans and relocation.
Note: Wherever you choose to get it, it should run you about 2 to 2.5 grand as a Vet start to finish. If you’re paying like 4 to 5 G’s… you’re paying too much. I’ve spoken with a couple Veterans who have gotten a little ripped off or worse not received it at all and needed to pay a different firm.
Healthcare
The healthcare system here is solid, especially in Panama City. English speaking doctors, good hospitals and access to specialists. In Panama you’ll have access to the FMP, TRICARE Overseas and private medical care. With the pension visa, you do get discounts on your healthcare at clinics and hospitals and healthcare here is more affordable than in the United States.
Panama Clinic, Hospital Nacional and Hospital San Fernando accepts Tricare Overseas and the FMP.
Pacifica Salud is popular with the Veteran community here. They do have a $250 minimum on direct billing the VA for the FMP. Meaning, if your bill there is less than that, you’ll have to pay out of pocket and file to the VA for reimbursement yourself. They accept Tricare Overseas and FMP.
Important Notes: Recently many doctors and clinics were taken off the FMP approved list for fraud in Panama. Check current information, many places overseas struggle with dealing with the VA because it can take a long time for them to get paid. Places change their policies and so does the VA so it’s good to check current info. CHAMPVA seems to kind of go in and out here, I don’t know of any locations in Panama that are currently accepting it.
Explaining FMP
When you look at your FMP authorization letter, it’ll list all the conditions you’re rated for including conditions at 0%. Those are what you can get treated through the foreign medical program and conditions caused or aggravated by those. There’s no emergency care or routine healthcare, it has to be somehow connected to your service-connected disabilities. Many Veterans are going overseas assuming that if they are 100%, everything will be covered like it is with the VA in the states – that is not the case. FMP is not used like a traditional insurance, it’s best thought of as a reimbursement program specifically for your service-connected conditions.
My Recommendation: I’d register with Pacifica Salud right when you get in country. You don’t want to wait until you need healthcare before going through that. You can also check the other options, see if one of them works better for you and talk to Veterans and medical professionals.
Veteran Resources and Groups
A very cool and unique group of Veterans here is Legacy Beyond Borders. It’s run by John who has a great Instagram page with information and meet ups. I had the honor of attending one of their events and was impressed by the speakers, community and the Veterans there.
It’s really amazing to see Vets coming together and sharing resources. They had people talking about everything from Peptides to Pickleball to real estate investment. They also have a YouTube Page with events and all types of good stuff. I really liked John, he’s a family man and a great guy.
There is a brand new American Legion post in Boquete: Post PC-03 which is exciting. Then meetings for PC – 02 are normally held on the 1st Thursday of every month at 1230hrs at the Restobar Hawaii in Nueva Gorgona. This is about an hour and a half north of Panama City.
Operation Freedom PTY is a Veteran owned investment and relocation firm. I wasn’t able to link up with them while I was in Panama but when I come back I plan on trying to attend one of their events. I’ve met one Veteran here who’s gotten their visa from them and he had a good experience.
Check out on TikTok A Man’s Perspective, a retired Marine who recently moved to Panama and is documenting some of his journey with his dog.
Community is very important when relocating, especially for us. You don’t necessarily need to build community only with the Veteran community, check out this group of American Expats in Panama on FB.
GI Bill
Florida State University has a campus, located on the former Fort Clayton Army base. FSU has a long history in Panama, dating back to 1957 when it began serving the American military community in the Canal Zone.
Another option is Quality Leadership University which also has partnerships with US universities including University of Louisville, Illinois State University and University of South Florida.
The overseas BAH rate is currently $2,400. Check out my guide on using the GI Bill Overseas with other good schools in different countries. More Veterans should consider using the GI Bill abroad.
International Schools
Moving overseas with a family or kids is a more serious consideration. For a lot of Veterans, education for their kids is a big reason why they hesitate to move abroad. For others, it’s the other way because they want their kids to get a higher-quality education or not worry about things like school shootings.
Even speaking as someone who went to Harvard, there are a lot of lessons that can’t be learned in a classroom. I’ve taught in Thailand and I can say with a lot of confidence that most international private schools are superior to American public education.
Moving overseas and attending an international school can be one of the greatest experiences you can give your child. They’ll grow up bilingual and experience different cultures. However, international school in Panama ain’t cheap – at all. There are more affordable options out there but here are three top notch schools to look into:
The International School of Panama
Balboa Academy
Metropolitan School of Panama
Pro Tip: International schools can often have extra fees including admission fees which can make the first year considerably more expensive.
Potential Downsides
- The humidity can be intense
- Healthcare access varies by location
- It’s not as cheap as you think
- The rainy season can wear on you
- Living without a car can be difficult outside Panama City
- FMP is limited in scope compared to the VA
Final Thoughts
Moving overseas isn’t going to be for everyone. There are going to be challenges and moments where you’ll wonder if you made the right call. Sometimes the biggest improvement we can make isn’t making more money or buying more things but instead changing our environment.
Many of us spent years putting the mission first, sacrificing our time, our health and even our sanity. We forget that we fought for freedom and that we’re allowed to build a life that we love. Maybe for you it looks like Panama. Or like Thailand or somewhere else.
You can hit me up on Instagram or TikTok if you’re interested in PCS to Paradise: The Quickstart Guide For Veterans Moving Overseas or check out my book Veterans In Paradise: The Veterans Guide To Moving Abroad on Amazon.
Thanks for your service. If there’s anything of value to add to this article, please feel free to reach out and let me know. Hit me up if you’re a Veteran living overseas and would like to write your story for my blog or share any information.
About The Author
My name’s John and I’m an Army Veteran who’s been living overseas. I discovered living abroad as a Veteran and wanted to spread the word.
I realized how much our environment impacts our mental health and who we are. For me it’s not just about better weather or cheaper living, it’s about living a higher quality life. On my blog I have more articles to check out and my different books like 365 Days of Veteran Affirmations and free resources like 101 Writing Prompts For Veterans.
I love to travel, scuba dive, work out and spend time in nature. I’m always looking for new destinations, good bourbons and new friends.