🇵🇦 Panama vs 🇧🇬 Bulgaria
Complete Tax Residency Comparison for Digital Nomads & Entrepreneurs
Quick Comparison
| Factor | 🇵🇦 Panama | 🇧🇬 Bulgaria |
|---|---|---|
| Tax System | Territorial | Flat Tax |
| Income Tax (Foreign) | 0% (foreign income) | 10% flat |
| Capital Gains Tax | 0-10% | 10% |
| Corporate Tax | 25% | 10% |
| Residency Requirement | Friendly Nations Visa ($5,000) | EU/EEA free movement |
| Minimum Stay | None required | 183 days |
| Cost of Living | Moderate ($1,500-2,500/mo) | Very Low ($1,000-1,800/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
🇧🇬 Bulgaria
Highlights
- ✅Lowest EU flat tax (10%)
- ✅EU membership
- ✅Very low cost of living
- ✅Black Sea coast
- ✅Mountain ski resorts
Considerations
- ⚠️Language barrier
- ⚠️Infrastructure varies
- ⚠️Corruption concerns
Best For
- 👤EU budget option
- 👤Low-tax EU base
- 👤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 Bulgaria if: You prioritize lowest eu flat tax (10%) and eu membership. Ideal for eu budget option, low-tax eu base, remote workers.
Not Sure Which is Right for You?
Take our free eligibility assessment to see which tax residency program fits your situation.