🇵🇦 Panama vs 🇲🇪 Montenegro
Complete Tax Residency Comparison for Digital Nomads & Entrepreneurs
Quick Comparison
| Factor | 🇵🇦 Panama | 🇲🇪 Montenegro |
|---|---|---|
| Tax System | Territorial | Low Tax |
| Income Tax (Foreign) | 0% (foreign income) | 9-15% |
| Capital Gains Tax | 0-10% | 9% |
| Corporate Tax | 25% | 9% |
| Residency Requirement | Friendly Nations Visa ($5,000) | Property or company |
| Minimum Stay | None required | 183 days |
| Cost of Living | Moderate ($1,500-2,500/mo) | Low ($1,200-2,200/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
🇲🇪 Montenegro
Highlights
- ✅Very low tax rates
- ✅Beautiful coastline
- ✅EU candidate country
- ✅Easy residency
- ✅Growing tourism
Considerations
- ⚠️Small country
- ⚠️Not EU yet
- ⚠️Infrastructure developing
Best For
- 👤EU hopefuls
- 👤Beach lovers
- 👤Low-tax seekers
Which Should You Choose?
Choose Panama if: You prioritize dollar-based economy and strong banking sector. Ideal for entrepreneurs, international traders, banking needs.
Choose Montenegro if: You prioritize very low tax rates and beautiful coastline. Ideal for eu hopefuls, beach lovers, low-tax seekers.
Not Sure Which is Right for You?
Take our free eligibility assessment to see which tax residency program fits your situation.