Executive Nomad HQ Report
Last Updated
December 31, 2024
Next revision: Q1 2025
Cost Index
68
vs 100 US baseline
Quality Score
7.9/10
Nomad satisfaction
US Timezone
100%
EST alignment
EU Timezone
37%
Moderate overlap (3h)
Internet Grade
Overall Rating
Strategic Analysis | Q4 2024
Panama City has emerged as the Americas' premier international business hub, offering first-world infrastructure, US dollar economy, and the hemisphere's most attractive residency pathways. The city's role as a global trade nexus attracts multinational headquarters and financial services, creating professional networking opportunities typically reserved for major financial centers. Tax-free treatment of foreign-sourced income adds significant appeal for high-earning executives.
Infrastructure rivals any developed city: fiber internet (200+ Mbps) covers central districts, coworking options exceed 40 spaces with major international operators, and Tocumen airport serves as the Americas' primary hub with direct flights to 80+ cities. Panama's Friendly Nations Visa offers permanent residency within 3-6 months for citizens of 50 countries including the US, UK, and most of Europe.
Key consideration: Panama's tropical climate means year-round heat and humidity, with a pronounced rainy season (May-November). The city is designed around car transportation, with limited walkability outside specific neighborhoods. Our recommendation: base in Costa del Este or Punta Pacifica for modern infrastructure and walkable access to amenities. Engage residency counsel early to leverage the Friendly Nations pathway.
Cost of Living
Monthly$2,650
Avg Internet
Speed185 Mbps
Coworking
Daily$22
40+ spaces city-wide
Visa Complexity
Friendly Nations3-6 month PR process, minimal requirements
Safety Index
202455 /100
Nomad Community
International7K+
Business hours overlap (9AM-6PM local)
US West Coast
PST (UTC-8) | 3 hour difference
75%
5+ hours overlap
Overlap: 12PM-6PM Panama = 9AM-3PM PST
US East Coast
EST (UTC-5) | Same timezone
100%
Full alignment
Complete business hours alignment
London, UK
GMT (UTC+0) | 5 hour difference
37%
3 hours overlap
Overlap: 12PM-3PM Panama = 5PM-8PM GMT
Singapore
SGT (UTC+8) | 13 hour difference
0%
No overlap
No reasonable business hours alignment
Mumbai, India
IST (UTC+5:30) | 10 hour 30 minute difference
0%
No standard overlap
Limited overlap with India business hours
Sydney, Australia
AEDT (UTC+11) | 16 hour difference
0%
No standard overlap
Limited overlap with Australia business hours
| Category | Rating | Assessment | Trend |
|---|---|---|---|
| Coworking Spaces Density & quality | A | 40+ spaces including WeWork, Regus, Selina. Premium options in Costa del Este and Calle 50 corridor. | Expanding |
| Work-Friendly Cafes WiFi & laptop policy | B+ | Growing specialty scene. Bajareque, Cafe Unido, and international chains in business districts. | Growing |
| Internet Reliability Uptime & consistency | A | 99.2% uptime. Cable & Wireless and Claro provide redundant fiber. 5G available. | Stable |
| Housing Availability Rental market access | A | Abundant options in modern districts. 1-2 week lead time typical. Consider Encuentra24, CompreoAlquile. | Stable |
Panama's territorial tax system does not tax foreign-sourced income, making it exceptionally attractive for remote workers maintaining US employment. The Friendly Nations Visa provides a clear path to permanent residency without complex income requirements.
Recommended Solution:
Engage an Employer of Record (EOR) service such as Deel or Remote.com to ensure proper employment structure. While Panama's tax treatment is favorable, maintaining compliant US employment documentation remains important.
Note: This is general guidance. Consult with a qualified tax advisor for your specific situation.
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