Declaring Money When Entering Panama: Complete 2025 Guide for Travelers and Investors

Panama has solidified its position as a top-tier financial and logistical hub, attracting investors and entrepreneurs from around the world. However, its status as a global business center comes with a firm commitment to financial transparency and the prevention of crimes. Recent news about a significant increase in the seizure of undeclared money at its borders underscores a crucial reality: to enjoy Panama’s advantages, it is essential to understand and comply with its regulations. Understanding the process for declaring money when entering Panama is not just an obligation, but the first step towards a safe and successful financial transition.

This article aims not to alarm, but to inform and guide. The strengthening of customs controls is a positive sign of the Panamanian system’s maturity and security. For the legitimate investor, these measures guarantee a more stable and predictable business environment. Here we will break down everything you need to know about cash declaration, the consequences of not doing so, and the safest alternatives for moving your capital.

What is the Money Limit for Entering Panama Without Declaring?

Panamanian regulations, in line with international standards, are very clear on this point. Every traveler entering or exiting the national territory is obligated to declare if they are carrying cash, checks, or negotiable instruments exceeding $10,000.00 USD (ten thousand US dollars) or its equivalent in any other currency.

It is fundamental to understand that this is not a limit on the amount of money that can be brought into the country. There is no prohibition on bringing more than $10,000. The requirement is simply the declaration. The objective of this measure is transparency and the prevention of money laundering, not to limit investment or the legitimate flow of capital.

Limit for Declaring: $10,000.00 USD or its equivalent.
Applies to: Cash, traveler’s checks, bearer checks, and other monetary instruments.
Obligation: Both when entering and exiting Panama.

The Correct Process: How to Declare Cash Upon Arrival in Panama

The declaration procedure is straightforward and designed to be transparent. The key is proactivity. Do not wait for a customs officer to ask you; you must be the one to initiate the process.

Step 1: The Sworn Declaration Form

Upon arrival in Panama, typically during the flight or in the airport’s immigration area, you will be provided with a form called “Traveler’s Sworn Declaration”. This document contains a specific section where you must indicate if you are carrying more than the permitted limit. Mark the corresponding box affirmatively.

Step 2: Presentation to the Customs Officer

Once at customs control, hand the form to the officer. They will likely ask additional questions, such as the exact amount you are carrying and the origin and destination of the funds. It is vital to respond truthfully and clearly. Having supporting documentation, such as bank statements that justify the withdrawal of the money, can greatly facilitate the process.

Step 3: Verification and Registration

Customs personnel will proceed to verify the amount of money you have declared. Once confirmed that the amount matches what was declared, the information will be registered, and you can continue your entry into the country without further inconvenience. This process demonstrates your commitment to complying with local laws and sets a positive precedent for your future financial activities in Panama.

Increased Controls in 2025: Evidence of a Robust System

Recently, the National Customs Authority (ANA) of Panama has intensified its control efforts, resulting in a notable increase in seizures of undeclared money. This is not an alarm signal for the honest investor, but quite the opposite: it is proof that the country takes the security of its financial system seriously.

According to official data from the ANA, between July 2024 and November 2025, over $1.3 million in undeclared cash was seized, representing a 168% increase compared to the previous period. This increase is due to the implementation of advanced technology, such as non-intrusive scanners, and more sophisticated risk profiles.

This strengthening of vigilance aligns Panama with the recommendations of the Financial Action Task Force (FATF) and consolidates its reputation as a safe destination for investment. For those considering Panama their new home or operational center, this institutional diligence offers an additional layer of security and confidence in the country’s stability.

Consequences of Not Declaring Money When Entering Panama

Omitting the declaration of funds exceeding $10,000 can lead to serious legal and financial complications that go beyond a simple administrative fine. Panamanian authorities have a clear and strict protocol for these cases:

Immediate Retention of Money: The entirety of the undeclared cash will be immediately retained by customs authorities.
Initiation of Criminal Investigation: The case is immediately forwarded to the Public Ministry, which will initiate an investigation to determine the origin of the funds and the possible commission of a crime, such as money laundering.
Sanctions and Fines: Even if the lawful origin of the money can be proven, significant fines will be faced. In many cases, these are calculated as a percentage of the undeclared amount.
Precautionary Measures: A guarantee judge may impose measures such as a travel ban while the investigation lasts.
Permanent Confiscation: If it is not possible to conclusively justify the lawful origin of the funds, the money will be permanently confiscated by the Panamanian State.

The reputational and legal risk far outweighs any supposed benefit of not declaring. Transparency is always the best policy.

Safe Alternatives for Moving Large Amounts of Money to Panama

For entrepreneurs and investors planning to move significant capital to Panama, transporting large sums of cash is neither the most practical nor the safest option. There are much more efficient and transparent methods that align with best financial practices.

International Bank Transfers (SWIFT)

The most common and secure way to move funds internationally is through a bank transfer. This method leaves a clear documentary trail, is globally accepted, and simplifies the justification of the origin of funds to Panamanian financial institutions and authorities. Planning your tax and banking strategy is key. You can find more information about obligations in our guide on taxes in Panama for expats and tax residents.

Opening Bank Accounts in Panama

Establishing a banking relationship in Panama before moving your capital is a fundamental step. Opening a personal or corporate account will allow you to receive funds directly into the Panamanian financial system, facilitating your future investments, expense payments, and asset management.

Corporate Structures

For larger operations, the formation of a company or private interest foundation can be the ideal vehicle. These structures not only offer tax and asset protection benefits but also provide a solid legal framework for the reception and management of capital. If you are interested in this route, we recommend exploring our service for starting a company in Panama as a foreigner.

Conclusion: Transparency as a Pillar of Your Success in Panama

The message from Panamanian authorities is clear: the country welcomes investment and foreign capital, but demands strict compliance with its financial transparency rules. The increase in controls and seizures is not a barrier, but a filter that protects the integrity of the system and investors who, like you, operate legitimately. Complying with the obligation to declare money when entering Panama is a simple procedure that prevents serious complications and demonstrates your commitment to the rules of the game.

Properly planning your financial move is as important as managing your immigration status. Ensuring that every step is taken correctly, from declaration at the airport to structuring your assets, is fundamental for a successful landing in Panama. If you need expert advice to navigate the Panamanian financial and legal landscape, our team is here to help you ensure a smooth and secure process. Contact us for a personalized consultation and start your journey to Panama with maximum confidence.