PANAMA -TAX FREE, CAREFREE, FOREVER FREE
If you value personal and financial freedom, then Panama should definitely be on your list.
Panama is one of the last laissez faire economies in Latin America. It has a very wealthy middle class which is constantly developing, little government interference in business activities, and fairly low domestic tax rates. The economy is basically subsided by The Panama canal, therefore the government does not require large tax revenues.
Many millionaires from Europe, China, United States and Russia are moving to Panama in order to keep their families and their assets safe. Panama has also its fair share of domestic billionaires who are truly committed to business. The chances of socialism or communism succeeding in Panama are one of the lowest in the world, due to the fact that this is a country mostly run by businessmen.
Panama Residency is happy to provide you with detailed information, and would like to summarize the benefits of living, working and structuring your business in Panama.
- Contrary to popular belief and general misinformation, Panama is not an offshore tax haven. In fact, due to the pressure placed on Panama by the OECD, this country has agreed to be part of the common reporting standards (CRS). However, Panama is one of the few countries in the world which does not tax foreign sourced income. This means that, with the proper structure, in Panama you can obtain the benefits of an onshore jurisdiction while enjoying the tax benefits of a haven. In this regard Panama has modeled its legislation and future growth on the Singapore model.
- Panama has recently signed a variety of agreements with China. As a result, an important flow of Chinese investment is coming to all areas of Panamanian economy, from banking to real estate. This means that Panama´s economy is set to boom in the next ten years. The country requires people with vision and skills to develop its economy, for this reason the government has made available some interesting opportunities such as tax breaks on many activities.
- Panama Real estate and lifestyle is very similar to Miami´s, only at prices that the city in the state of Florida was offering twenty years ago. In Panama, real estate is available for purchase at amazingly low prices. Buying real estate, including commercial, farmland or apartments is incredibly easy, and Panama holds no restrictions on foreign ownership.
- Panama offers some of the best lifestyles in Latin America. It has beaches, mountains, islands and farmland, all within close proximity to one of the most vibrant cities in the region. Panama´s city life offers everything you could possibly dream of, from restaurants to casinos, from high-level resorts to an interesting nightlife, all of this with almost no restrictions on personal freedom. At the same time, Panamanian people are relaxed and friendly, and, most importantly, are really fond of foreigners. There is a very low rate of violent crime, Panama being one of the safest countries in Latin America and even in the entire world.