116: How To Move To Panama Or Use It As Your Plan-B Residency – Mikkel Thorup

How To Move To Panama

Today’s guest on the Expat Money Show is, well Mikkel Thorup. Who better to talk about the Expat life and How to Move to Panama, than someone who has lived and worked in 9 countries over the last 21 years, and who moved his family 2 years ago to Panama?

In today’s episode, Mikkel will talk about all of the things you might be thinking of when trying to decide if Panama is the right choice for you.



  • Mikkel’s story about moving to Panama
  • Why did he move here?
  • Facts about the country
  • Cost of living in Panama
  • Standard of living
  • Medical facilities
  • International Insurance
  • Tax
  • “Free Trade Zones” In Panama
  • Banking and Financial sector
  • Residency
  • Lockdowns
  • Mikkel’s opinion of Panama
  • Popular places to live
  • Learning Spanish
  • and more!



110: How To Move To Ecuador Complete Master Class – Marcos Chiluisa

093: Why Are People Leaving The USA – Travis Luther

089: Is Costa Rica The Perfect Place To Be An Expat? – Gill Phelan



Feel free to reach out to me here if you want to move forward with your visa and come to Panama, I will do my best to help!

Please, continue this conversation at ExpatMoneyForum.com



If you are looking for a backup residency, Panama is a good option because it is affordable and you only need to visit the country one day every two years. It’s a tropical country, with warm weather all year round. Taxes are almost nonexistent, no standing military, lots of expats, lots of freedom (outside of covid), a high standard of living, and a cosmopolitan lifestyle. These are just some of the reasons Panama might be a good option for you, listen in to the episode for everything you will need to know to make it a reality.


About The Host, Mikkel Thorup

Mikkel Thorup; the host of The Expat Money Show, has 20+ years in continual travel around the world, visiting more than 100 countries including Colombia, North Korea, Zimbabwe and Iran.

His goal now is to help Expats just like you to generate additional streams of income, eliminate your tax bill, and take advantage of offshore structures so you can travel the world freely and never have to worry about money again.

Follow Mikkel Thorup on Social Media:


  1. Mark Peter Robson on 01/26/2021 at 5:29 PM

    Hey Mikkel,
    Great to hear your episode about Panama, really informative, to the point and you covered a lot of ground in one shot…well done! I’m from Vancouver / Victoria BC here in Canada so it’s great to connect with a fellow Canadian. Looking forward to more information from you and your team.

  2. Dave on 01/28/2021 at 9:00 AM

    Mikkel, thanks for the interesting podcast.

    You mention that if you want to go on to seek citizenship after 5 years, then simply visiting one day in 2 years would be insufficient.

    Can you describe what the minimum type commitment that woud typically be necessary to successfully apply for citizenship?

    • Mikkel Thorup on 01/31/2021 at 4:29 PM

      They are going to want to see very strong ties to the country, that this is your home. Unfortunately, it is a subjective measure in most cases as they must manually approve or deny applications, it is untimely the president’s decision and he has to sign off on it

  3. Alex on 03/02/2021 at 1:57 AM

    In regards to setting-up a corporation in Panama prior to applying for Panama Residency Visa; should the corporation be in existence for a certain period of time prior to applying for residency (or can it be immediate beforehand) and does it need to be a valid, revenue producing corporation with/without a certain amount of revenue? Basically, I am a daytrader/investor, which is why I ask. Thanks in advance.

    • Mikkel Thorup on 04/22/2021 at 6:13 PM

      The company formation does not need to be used for anything and does not need to show any revenue, also there is no need for a certain amount of time the company needs to be in existence

  4. Alexandra on 04/14/2021 at 2:05 AM

    Question. How about relocating as a gay couple? Like a life partner. Is there a way to bring the partner with you? Asking for a male friend.

    • Mikkel Thorup on 04/22/2021 at 6:10 PM

      I would have to look into that for you, please send me an email on the contact us page at the top of the website

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