🇵🇦 Panama vs 🇦🇲 Armenia
Complete Tax Residency Comparison for Digital Nomads & Entrepreneurs
Quick Comparison
| Factor | 🇵🇦 Panama | 🇦🇲 Armenia |
|---|---|---|
| Tax System | Territorial | Flat Tax |
| Income Tax (Foreign) | 0% (foreign income) | 20% flat |
| Capital Gains Tax | 0-10% | 0% |
| Corporate Tax | 25% | 18% |
| Residency Requirement | Friendly Nations Visa ($5,000) | Easy residency |
| Minimum Stay | None required | None required |
| Cost of Living | Moderate ($1,500-2,500/mo) | Very Low ($800-1,500/mo) |
🇵🇦 Panama
Highlights
- ✅Dollar-based economy
- ✅Strong banking sector
- ✅No forex controls
- ✅Good infrastructure
- ✅English widely spoken
Considerations
- ⚠️Higher cost of living than Paraguay
- ⚠️More bureaucracy
- ⚠️CRS reporting to some countries
Best For
- 👤Entrepreneurs
- 👤International traders
- 👤Banking needs
🇦🇲 Armenia
Highlights
- ✅Zero capital gains tax
- ✅Low flat income tax
- ✅Easy residency
- ✅Very low cost of living
- ✅Tech scene growing
Considerations
- ⚠️Regional tensions
- ⚠️Not EU
- ⚠️Limited infrastructure
Best For
- 👤Tech startups
- 👤Budget-conscious
- 👤Remote workers
Which Should You Choose?
Choose Panama if: You prioritize dollar-based economy and strong banking sector. Ideal for entrepreneurs, international traders, banking needs.
Choose Armenia if: You prioritize zero capital gains tax and low flat income tax. Ideal for tech startups, budget-conscious, remote workers.
Not Sure Which is Right for You?
Take our free eligibility assessment to see which tax residency program fits your situation.