Will I save money living in Bocas del Toro?

"Living in Bocas del Toro can be significantly cheaper than living in the United States. The cost of living in Panama is generally lower than in the United States, with rent, groceries, and other necessities costing much less. Additionally, Panama has no income tax, so you can keep more of your money. Furthermore, Panama has a strong US dollar, so you can get more for your money. All of these factors make Bocas del Toro an attractive option for those looking to save money," said a member in Bocas del Toro, Panama.

Kovalenko & Vera Attorneys at Law in Panama
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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

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Kovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
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Click connect to have our partner contact you via e-mail and/or phone.

"Cost of living is much less than the US. Our particular situation is no property tax, utilities are my own (off grid), Internet, fuel and food are our only real costs besides entertainment. Internet is reliable and cheaper monthly in Bocas town then in the outer islands. The cost of food at the grocery store isn't "cheap" but surprisingly the restaurants are less. Getting bulk goods from Costco in David every couple months can save about 40% of your monthly food and disposable goods. Health insurance on a 70% /30% payment basis is only $148 monthly for the 2 of us (we are healthy). We spend less than $1500 a month when we are not traveling or being excessively social," remarked another expat who made the move to Bocas del Toro, Panama.