🇵🇦 Panama vs 🇲🇰 North Macedonia
Complete Tax Residency Comparison for Digital Nomads & Entrepreneurs
Quick Comparison
| Factor | 🇵🇦 Panama | 🇲🇰 North Macedonia |
|---|---|---|
| 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) | Business or employment |
| Minimum Stay | None required | 183 days |
| Cost of Living | Moderate ($1,500-2,500/mo) | Very Low ($800-1,400/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
🇲🇰 North Macedonia
Highlights
- ✅10% flat tax all around
- ✅Very low cost of living
- ✅Beautiful nature
- ✅Friendly people
- ✅Easy business setup
Considerations
- ⚠️Not EU
- ⚠️Small market
- ⚠️Limited international connections
Best For
- 👤Ultra-budget seekers
- 👤Balkan explorers
Which Should You Choose?
Choose Panama if: You prioritize dollar-based economy and strong banking sector. Ideal for entrepreneurs, international traders, banking needs.
Choose North Macedonia if: You prioritize 10% flat tax all around and very low cost of living. Ideal for ultra-budget seekers, balkan explorers.
Not Sure Which is Right for You?
Take our free eligibility assessment to see which tax residency program fits your situation.