This is a personal choice. If you're uncomfortable parting with 200,000, now might not be the right time to make this type of deposit/
investment.
Deposit insurance is nice but the actual financial health of the bank and of the country or countries the bank is exposed to are more important. If you bank where large corporations, international organizations, and the local government bank, then the bank might be "Too Big To Fail" or of "systemic importance."
The history of international banking
Panama, which really kicked off in the 1980s, has been a tumultuous at times. However, in recent history (the 2000s), the failures (that I can think of) have mainly been smaller banks. If you don't want to pore over financial statements and draw your own conclusions, the lesson from history seems to be to stick to the major banks. Then chances are your money will come out unscathed the other end. Today, the problems with Panamanian banking have more to do with the country's reputation as a
tax evasion and money laundering hub, following the
Panama Papers. Expect extra scrutiny for moving larger sums in and out of the country.
What percentage of your net worth is it? Is that a percentage you can live comfortably without for three years? In a nightmare scenario, is a loss 200,000 USD worth the benefits you'd get by being a permanent resident of Panama?
