Is there a way to change the QuickBooks Online company location from USA to Panama without creating a new company and while retaining all existing data?

You need to purchase a 3rd party service to convert data from QB Desktop or QB Online US version to QB Online Global version for Panama.

There isn’t a way to change your QuickBooks Online company’s region from the USA to Panama while retaining your existing data. The country is permanently set when the account is created and can’t be modified later.
 

To switch regions, you’ll need to cancel your current subscription and create a new account with Panama selected as the country.
 

While you can export specific data from your old account and import it into the new one, not all data is transferable. The rest will have to be entered manually.

If you have further questions or concerns, feel free to reach out. We’re here to help.