Panama Location Map




"For an eco-geek, leisure-loving, surfing and fishing nut, Panama has it all - and unspoiled. We've been diving in places it is quite possible nobody has ever been - anyone, ever - and fished all day seeing no other boats, catching giant snapper at will between marlin fishing. Everywhere we went on The Lost Coast we were surrounded by the kind of wildlife and scenery that tends to feel like it's canned or preserved in a park everywhere else I've been."

Skip Knowles, Editor of MillionAir Magazine

Panama General Information

  • You need a passport only (no visa) to enter and exit Panama
  • Panama has a stable democratic government that has elections every four years.
  • Panama has a growing economy which is dominated by the services sector which includes income from the Panama Canal, the Free Trade Zone, and its Banking industry. Tourism is also becoming a large contributor to Panama's GDP.
  • The US dollar is the legal currency. Panama has a stable economy that has been based upon the U.S. Dollar since 1904.
  • Residents pay no tax on foreign earned income.
  • Foreigners can buy and own property in Panama with the same rights and protections as Panamanian Citizens.
  • Pensionado program (retiree incentive program), the best in the world, is not necessarily age related and the benefits are considerable (see retirement benefits).
  • Tourism investment benefit from exemptions from import duties, construction materials and equipment, income real estate taxes etc.
  • Property tax exemptions apply to all new construction an a sliding scale according to value.
  • English is widely spoken throughout the country.
  • A strong US presence throughout the year has resulted in an American influenced infrastructure.
  • Panama has a number of US standard health care facilities.
  • Panama has one of the best offshore banking centers in the world.

Friendly People: Panama has a population of 2.8 million people and near 52 percent of the population lives in urban areas such as Panama City and David. The country is under populated with large areas of farmland and jungle spanning throughout the country. Panamanians are pleased to see foreigners moving to their country. They enjoy meeting and learning from new people. They will most often help you in any way they can, and are not afraid to put aside their schedule to help you. The Panamanian people have a lot of pride and they keep their homes in immaculate condition.

Language: Panamanians often speak two or three languages, have impeccable manners, and dress nicely every day.

Religion: The predominant religion in Panama is Roman Catholic, but there is no prohibition against practice of any religion.

Education: Panamanians are very well educated. School attendance is compulsory between the ages of seven and fifteen or until six grades of primary school have been completed. The literacy rate in Panama is 90.8 percent. There are also over 15 universities available in Panama City for further education.

Infrastructure: The Panamanian Government had the good fortune of a steady income from the Panama Canal throughout the years. They used much of that money to put in quality infrastructures throughout their country. A large percentage of the money went into improving and paving roads, putting in high quality bridges, ensuring communities had adequate sewer and water systems and much more. The result is a country that has the best infrastructures in Central America. Panama also has Tocumen International Airport that offers over 54 flights to different locations throughout Central America, South America, and the United States. Direct flights to Miami, Houston, and Los Angeles are available out of Panama City. Albrook Airport in Panama City offers flights on smaller airlines to many towns throughout Panama. It is also very easy and affordable to charter a flight to one of the many small airstrips throughout the country. Panama also has international telephone, telex, fax, high speed internet and cell phone services throughout the country.

Affordability: As foreigners from the US and Europe seeks to maximize on their fixed retirement income, Panama is the perfect choice with its low cost quality goods, affordable real estate, and high quality of life. It is possible to find a nice sized lot near the ocean for less the 40,000. It is possible to find an apartment in the city or small home for less than $150,000. A luxury home or condo will cost approximately $300,000. Utilities will cost you only 30% of what they cost in the United States. It is possible to buy a meal for two people for seven dollars. With the incentives offered to retirees by the government through the Pensionado Program, these goods are even more affordable for Panama's retirees. Hired labor is also very affordable. You can hire a full time maid for $300/month.

Natural Beauty: Mountains, rainforest, and gorgeous beaches all await you in Panama. Join us and learn to appreciate this beautiful country.

Illegal drugs of any kind are not tolerated in Panama or on the Lost Coast Explorer. Panama has some of the strictest anti-drug laws in the world and the consequences if you are caught with these in possession are very high. If you are found with drugs onboard you will immediately be dropped off at the nearest port and your vacation will not be refundable.

Parque Nacional Coiba.

Parque Nacional, a new world heritage site, is one of the largest marine parks in the world. The island at the center of the park, Coiba, is Panama's largest - a massive 493 square kilometers. It is also home to the second-largest coral reef in the eastern Pacific Ocean. The waters are filled with very large fish and mammals including humpbacks whales, dolphins, Orcas, whale sharks, manta rays, rooster fish, amberjack, big snappers, three kinds of marlin, moray eels, and white-tip, hammerhead, and tiger sharks. Sharks and mantas are especially common, and sea turtles are seen regularly. Visibility fluctuates with the currents and seasons, but averages between 30 feet to over 100 feet. Even when visibility is low, you are likely to see some impressive creatures. The richness of marine life off the shores of Coiba is denser with species than anywhere else in Central America according to UNEP World Conservation Monitoring Centre. The diving here has been described as a cross between that off the Galapagos Islands in Equador and Cocos Island in Costa Rica.

Coiba itself is still mainly covered in virgin forest. This lush jungle is home to 36 species of mammals, including howler monkeys, and dozens of amphibians and reptiles. You're much more likely to come across beautiful birds, however, of which there are about 150 known species. Coiba is just about the last stand in Panama of the gorgeous scarlet macaw, which are concentrated in an area called Barco Quebrado. Other impressive birds common on Coiba include the bicolored hawk and the enormous king vulture. Coiba also has several endemic species, including the Coiba spinetail (a bird - Cranioleuca dissita), Coiba agouti (Dasyprocta coibensi), and a local variety of howler monkey (Alouatta palliata coibensis).

Coiba attracts visitors largely on the strength of its world-class diving and deep-sea fishing and natural beauty. Join Lost Coast Excursions as we travel through and continue to explore this little known world heritage site called Parque National Coiba.