Panama
Passport Ranking - 64th
Panama passport is classified as one of the most powerful passports in the world. It ranks 64th in the Top Passports Index. Panama passport achieved a well-deserved position based on its good performance in mobility, investment, and quality of life.
70th
Mobility Index
Mobility Index
71st
Investment Index
Investment Index
68th
Quality of Life Index
Quality of Life Index
Mobility Index
score
68.7
The best ranking Panama passport achieved among the three factors is in the Mobility Index with the 70th position.
Panama passport features a good level of travel freedom for its holders by allowing them free access to a total of 136 countries in the world, where no visa is required, or with just a visa on arrival or electronic travel authorization (eTA).
PANAMA
Top Passports Rank: 64
Destinations: 136
86
Visa free
Visa free
47
Visa on arrival
Visa on arrival
3
Electronic Travel Authorization (eTA)
Electronic Travel Authorization (eTA)
62
Visa required
Visa required
Investment Index
score
51.4
Panama passport features its lowest ranking among the three factors in the Investment Index with the 71st position.
Many opportunities are offered for expats seeking to invest in Panama beyond starting a business. The country offers investment options including the stock exchange, American depository receipts, and real estate. The political stability, economic growth, and encouraging laws make Panama an ideal investment destination.
GDP
GDP
$52.94 billion
GNI per capita
GNI per capita
$30.690
Personal tax rate
Personal tax rate
25%
Quality of Life Index
score
65.7
The performance of quality of life in Panama is as good as the other two factors. Panama’s lifestyle is luxurious and vibrant. It is a perfect destination for people looking for a place where entertainment activities are various and affordable.
Panama ranks 68th in the Quality of Life Index, in which these criteria are considered:
Sustainable Development
High
Panama ranks 88th in the Sustainable Development Report 2021 with a score of 68.0.
Freedom
Free
Panama scored 83/100 in Global Freedom Status.
Cost of living
High
Panama ranks 51st on the Cost of Living Index.
Environmental performance
High
Panama ranked 70th in the 2020 Environmental Performance Index (EPI) with a score of 47.3.
Happiness
High
Panama ranks 37th in the World Happiness Report 2022 with a score of 6.309.
Migrant acceptance
Very low
Panama ranks 101st on Gallup’s Migrant Acceptance Index with a score of 4.36.
About Panama
Panama, officially the Republic of Panama is a country located in the isthmus that links Central and South America. It has borders with Costa Rica, and Colombia, and is defined by the Caribbean Sea, and the Pacific Ocean. Panama is a presidential representative democratic republic.
Capital
Panama City
Panama City
Language
Spanish
Spanish
Currency
Panamanian balboa
Panamanian balboa
Local Time
UTC-05:00
UTC-05:00
Demographics
Panama has a population of over 4 million.
Spanish is the official language of the country.
The most dominant religion is Christianity.
Economy and Industry
Panama is considered a high-income country.
The economy is mainly based on the services sector.
The regime of taxes in Panama is competitive as it is considered a tax haven.
Panama’s cryptocurrency law prepared to regulate operating with digital assets is in progress.
Culture and Life
The culture of Panama is a blend of African, Native American, and European cultures.
Education in Panama is compulsory for children aged between 6 and 15.
Healthcare in Panama is provided through both public and private health facilities.
FAQ
Panama passport currently ranks 64th in the Top Passports Index based on its rankings in mobility, investment, and quality of life.
Panama allows its citizens to obtain another citizenship without renouncing its citizenship, however, obtaining Panama citizenship by naturalization requires renouncing primary citizenship.
Foreigners can buy properties in Panama without any restriction and have the same rights as the citizens.
Panama passport allows free access to 136 countries in the world including 86 countries visa-free, 47 countries with a visa on arrival, and 3 countries with electronic travel authorization (eTA).
Expats either residents or non-residents are liable to taxes on income from Panamanian sources only at a rate of 25%.
Panama imposes property tax varying from 0% to 2.10% of the property value levied annually.
Panama’s taxes structure makes it one of the most known tax havens for offshore companies.
Panama is one of the safest investment destinations in Latin America thanks to its strong and growth economy and political stability.
Panama’s education is low-quality and it is considered one of the worst education systems in the world.
Panama offers free education in public schools and higher education institutions.
Panama has an efficient healthcare system and it is known for doctors and nurses who have kind manners and great care.
A large part of healthcare services in Panama are funded by the Social Security System and provided free for citizens while expats can have affordable private health insurance.
Panama’s lifestyle is distinguished for simplicity and cultural variety that comprise American, European, and African influences.
The National Assembly of Panama adopted a bill that legalizes using crypto in public and private payments.
Panama is considered a crypto tax haven. It has a 0% capital gains tax on crypto profits.