Living the GOOD LIFE for the REST OF YOUR LIFE!
If you were to obtain Panamanian citizenship, it would not be necessary for you to renounce your U.S. citizenship. Panama will require you to take an oath of renunciation of your U.S. citizenship, but the U.S. Supreme Court defines that oath as “non-meaningful” and it will not affect your U.S. citizenship. The only way to lose your U.S. citizenship is to swear several times over that you wish to dissolve your relationship with the United States. Over and over again.
You must live in Panama for five years in order to apply for citizenship. Knowing Spanish and Panamanian history are also required. Proving your financial solvency, your medical condition and many other “paperwork” details are also included in the process. But it can be done. First, move there. Then decide if becoming a Dual Citizen is to your advantage.