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Expat financial advisor in Panama in 2021

Expat financial advisor in Panama 2021 – that will be the topic of today’s article.

I will compare some of the options available locally, alongside more portable, online and international options like what we offer.

For any questions, or if you are looking to invest as an expat, you can contact me using  this form, or via the WhatsApp function below.

It makes sense to have a portable option as an expat, as opposed to a localised one, and that is something we specialise in. 


Expat financial advisor in Panama in 2021 3

After several years, the popularity of Panama among people who want to move to another country for permanent residence continues to grow. Panama is still the top choice for many expats due to its easy and fun lifestyle and affordable prices.

The best thing about this beautiful country is that not only does Panama City offer you a wide range of accommodations, restaurants, hotels, parks and recreational activities, but many other cities in the provinces of the country. These are places like Coronado, Boquete, Bocas del Toro or Pedasi.

We know that Panama has been a very popular topic for many foreigners for many years when it comes to emigration, and if you are still wondering what the current situation is and whether Panama will continue to be attractive in the coming years, then here are some answers. which will help you navigate and make a decision about living, moving and buying real estate in Panama.

Moving to Panama and finding a job there is definitely a good idea as it is a country with political and economic stability, great for investment, strategically located and very comfortable to live in. Plus, Panama offers excellent tax breaks when it comes to business and income.

Compared to other places in the region, Panama is a safe place to live, people are usually not aggressive and polite, and most areas are safe. However, as in any other country, there are certain areas in which it is better not to appear in order to avoid possible problems.

Despite this, statistics show that Panama is a much safer country than, for example, Mexico, which makes it the best choice not only for travel, but also for permanent residence.

Just like neighboring Costa Rica, Panama has many natural parks, mountains and tropical beauties, and combined with excellent infrastructure, quality roads and good services, Panama is becoming a more attractive place to live and relax.

Panama continues to rank # 1 (by many sources) among countries for retirement as it offers easy immigration policies for many nationalities, special discounts for retirees, and affordable healthcare with first-class service. These and other perks make Panama a great living and retirement option.

This is an exotic country, in which most of the rainforests are occupied. Flora and fauna amaze travelers with their diversity and uniqueness. Mountains and volcanoes, lakes, rivers and forests – all this makes the country attractive to tourists. More than two million people come to enjoy the amazing nature and local exotic every year. Tourists from Europe can often be found here. 

Features of Panama

The Republic of Panama is so small that it can be placed in Russia 219 times, but the economy is developing at such a pace that the most developed countries of the world will envy it. The main sources of income are the Panama Canal and the most extensive offshore zone.

The entire economy and business life is concentrated in the capital, Panama City. Most of the country’s population lives here, there are factories and factories, financial institutions, trade and educational institutions. In the capital, life is boiling and gaining momentum, which cannot be said about other regions.

It is to Panama City that migrants go in search of a better life. Such progress in the republic has been going on for the past decades, since the state found a common language with the United States and regulated the situation with drug trafficking.

Pros and cons of living in Panama

Although Panama has a number of advantages in terms of quality of life, opportunities and entertainment compared to other Latin American countries, it is important to note that there are some facts that may cause you not to move to this country, or you will have to get used to them.

Here are some of the pros and cons of living in Panama:


  • Panama is an economy based on the US dollar, which makes it more stable because it does not have monetary inflation, and it also facilitates international transactions, banking and regional business.
  • It has a lot to offer at much lower prices than other countries, such as a world-class city with great dining and entertainment, and tropical beaches less than an hour’s drive from the city.
  • Panama’s excellent location makes it easy to reach anywhere in the world. Tocumen International Airport is a hub for the Americas with direct flights to many destinations around the world.
  • It is a safe country to live in with lower crime rates than many other Latin American countries.


  • Weather can be a problem for many, the climate in Panama is quite hot and the weather can change during the day from scorching sun to heavy rain.
  • Panama City has quite a lot of traffic jams during rush hour.
  • Maintenance and organization of services may take longer than usual, this is especially true for services provided by government agencies.

Those who are going to move to Panama and work there, or invest or just enjoy their retirement years, this article is for you. Usually these expats in Panama cannot be familiar with the rules and orders of opening a savings account or to send money abroad and many other activities related to finances. 

In this article, we will try to explain you the idea of a financial advisor, how they can help you, what is included in their list of services and of course understand the main two types of financial advisors: local and online. 

Who is a financial advisor?

Usually a financial advisor offers you a variety of financial products and services to individuals, families, businesses and others. Most often, a long-term relationship is established with a consultant, which includes ongoing services such as investment portfolio management and annual financial planning reviews.

While financial advice, products, and services are essential for almost everyone from an early age, a relationship with a financial advisor usually begins when both parties are mutually beneficial.

Knowing when this doorstep of common benefit has been exceeded depending on a few factors, such as the complication of the client’s financial life and, for instance, the amount of his funds that needs to be managed.

Fortunately, most financial advisors offer free advice, and it is during this consultation that mutual benefits can be determined. In the event that there is no mutual benefit yet, a good counselor will still offer some guidance on what steps you can take to meet the needs in your financial life that are appropriate for your current situation.

A few reasons to use a financial advisor

Not only are the very rich need financial advice, it can be beneficial to everyone. It can help you protect and build your assets, as well as help you get the most out of your investment and ensure the long-term future of you and your family.

To help plan your expenses and save

To secure your long-term future, you need to create some assets – first to survive rainy days, and then to pay for holidays and luxury goods. The first step is to plan your spending so that you start saving, and the second step is to plan those savings so you can build your wealth as efficiently as possible. Regardless of the amount, a financial advisor can analyze your situation and find the best starting point for you.

To help you plan your retirement.

Once your short-term savings needs are met, you can start thinking about long-term ones. Most people these days understand that they cannot rely on the state more than on absolute foundations. Retirement planning is a tricky business and there are many different options. A financial advisor will not only help you understand the many rules and product options, but will also help you build a portfolio that will maximize your long-term prospects.

To help you achieve your investment goals.

As you progress through life and your assets and income start to rise, you can start thinking about ways to improve your situation, not just strengthen it. This can mean anything from seeking early retirement to paying for private school tuition. Whatever your goal, a financial advisor can help you assess what is feasible and plan with you to help you achieve it.

Find the right combination of assets.

Investing is not only a defense against potential disadvantages but also a focus on maximum growth. High returns are often associated with high risk, and not everyone likes the idea that their investment could drop by a third or more overnight! Before making a recommendation, a financial advisor will thoroughly assess your attitude to risk. They also ensure you don’t put all your eggs in one basket, helping you diversify not only across asset classes, but across accounts, individual funds, and product providers.

Local financial advisors

Financial advisors from Panama can help you in many financial deals, starting from opening a simple bank account and finishing with making a big investment in their country. Their experience and knowledge cannot be less than skills of any other financial advisor’s, so here the main benefit is that they are local Panamanians and they have a local financial education, they are very good familiar with all the rules that are being used in Panama, which is a great tool and great investment for your future financial goals. 

But choosing for example a bank financial advisor, which is also considered as a local one, be aware that the main goal for him is to sell you a bank service or product. It is actually not their fault, but anyways it will bring additional costs and can be not necessary for that moment. with the help of a bank advisor it is advised to only open a bank account either savings or investment one, so as an expat you may need the help of a bank financial advisor, but nothing more.

To make clear everything, they can offer you their mortgage options with attractive rates, but anyways do not forget about your main goals and move forward with that in mind. For more financial goals you can either contact an individual advisor or online which can be more effective than other options in the market. 

First of all individual and online advisors put their clients in the first place and do everything to achieve their financial goals in a fast and effective way. According with that they may request small fees and commissions, but deliver good strategies, make sure that all your documentation is safe and secured. 

Anyways, let’s see some of the main financial activities where you will need an advisor’s help. For example, how to make an investment in Panama? It is a developing country with great future, so many expats who moved there may want to make an investment in property, so lets see the conditions and benefits.

Investing in Panama property

The Panama real estate market attracts foreigners from around the world. The process of buying real estate is similar to the American one and for a foreigner it is quite simple, although it requires careful preparation before buying in terms of checking the documentation for compliance.

The main advantages of real estate investment in Panama that most foreigners highlight are the following:

  • A stable and growing economy of a country where the US dollar is used as an official means of payment.
  • The favorable geographical location of Panama excludes the occurrence of extreme natural phenomena in the country, such as tornadoes, tornadoes, tsunamis or devastating earthquakes. The country has a warm tropical climate with a rainy and dry season.
  • Panama, unlike other countries in Latin America and many US cities, is a safer country in terms of crime. Also in Panama, the cost of living is lower, while the quality of accommodation is very high.
  • The real estate sector offers foreign investors a wide range of residential and commercial real estate investment options. In the capital Panama City, you will find the largest offer of real estate for sale. YOU can buy any property in the mountainous part of the country, as well as real estate on the coasts of the Pacific Ocean and the Caribbean, or an uninhabited island.
  • A powerful banking services sector, which is represented by about 80 international banks. You can freely open a bank account in any “hard” currencies. If you open an account in US dollars, you will be able to carry out financial transactions without loss of conversion.
  • Favorable tax policies and favorable conditions for buying new real estate in Panama encourage foreigners to invest in housing that will serve as the main place of residence for the whole family.
  • The purchase of Panamanian real estate by a foreigner gives the right to obtain a residence permit in Panama and permanent residence. Depending on the investment program used, a foreigner can apply for citizenship after five years of residence in the country.

What you need to know as a real estate investor in Panama?

As Panama’s real estate sector develops, significant changes and scale up in the market are foreseen in 2020-2021. Due to the above factors, the value of properties offered for sale will be constantly updated.

If you are a potential investor and want to invest in Panama real estate, as an investment asset or for personal purposes, then you should hurry up in 2020.

The fact is that while there is an excess of supply over demand in the real estate market in Panama, you can use the situation, significantly save the cost of buying property, taking advantage of the fall.

Online financial advisors

Financial planners or online consultants are people who have the experience and expertise in helping their clients achieve specific financial goals.

They strive to understand your current personal financial circumstances and future goals, and then develop financial strategies to help you achieve them.

These professionals are now being helped by adding a range of digital financial planning tools that help minimize risk and automate critical financial and accounting processes, such as the Know Your Customer step, portfolio recommendation, portfolio rebalancing, and dividend reinvestment.

In other words, online financial planners are using new technologies to better transport you from where you are (financially) to where you want to be. This allows them to cut costs that will ultimately affect your income and shorten the time it takes to acquire customers. Time is an important commodity when investing: the earlier you start, the more time your money will work for you.

This approach in the profession creates a technology-driven financial dimension around important life decisions to help build a roadmap and achieve personal goals, whether it’s early retirement, a new business, a new home, or a dream vacation.

What do online financial advisors do?

These professionals specialize in providing guidance to help us navigate the path of financial mismanagement or ignorance of a strategic financial roadmap designed specifically to meet our goals.

To help us define these goals, online financial planners conduct “interviews” with their clients to understand their unique financial profile by asking them a set of questions online.

Using this information, which may include your current age, ideal retirement age, current savings, current income, and other important personal factors, they then chart a timeline for achieving your desired goals.

Thereafter, following the assigned schedule, the online financial planner will be able to propose the investment portfolio, risk level, monthly installments, and the overall strategy needed to move you up the roadmap and closer to practical outcomes.

Below are some common services that financial planners and consultants provide:

Debt management

Debt is one of the greatest obstacles to achieving financial goals.

Financial planners on the Internet can suggest strategies to help you pay off your debts. For example, this approach could include the creation of emergency funds as a way to prevent future debt.


Budgeting (and sticking to it) is an important step to financial success. This is where the online financial planners can advise you on a personalized budget that suits your financial goals.

With this guideline, budgeting will help you speed up your savings and investments. Plus, using a budgeting app like Mint can also help you control your spending and savings.

Retirement planning

Everyone needs to plan for retirement.

An online financial planner or advisor can help you come up with a viable plan to understand how much you need to save for retirement, put your savings in accounts adapted to your level of risk, minimize taxation, and advise on how to withdraw money while keeping you in the right way to achieve your financial goals.

Investment / capital management

An important part of online financial planning is increasing your wealth. Because of natural inflation, the best way our money grows over time is by investing it.

An online financial advisor will help you design an investment portfolio that suits your time horizon, risk tolerance and financial goals.

What’s more, online advisors combine technology and professional investment advice to deliver maximum value and benefit to their clients. These platforms minimize risk and automate investments using advanced techniques such as portfolio rebalancing.

They also provide you with the convenience of monitoring your investments in real time, rather than endless phone calls and broker meetings.

In case you need an online financial advisor, we will be happy to assist you in delivering well-executed strategies and give you valuable advises on your financial goals and help you reach them asap. 

In any cases, online financial advisors have their other benefits, such as working from home, meeting online, virtual and secured documentation, which will give many expats the chase to save not money but also their time. 

Pained by financial indecision? Want to invest with Adam?

Financial Planner - Adam Fayed

Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

Adam is an internationally recognised author on financial matters, with over 280.8 million answers views on Quora.com and a widely sold book on Amazon



Gain free access to Adam’s two expat books.

Gain free access to Adam’s two expat books.

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