🇵🇦 Panama vs 🇸🇬 Singapore
Complete Tax Residency Comparison for Digital Nomads & Entrepreneurs
Quick Comparison
| Factor | 🇵🇦 Panama | 🇸🇬 Singapore |
|---|---|---|
| Tax System | Territorial | Territorial |
| Income Tax (Foreign) | 0% (foreign income) | 0-24% |
| Capital Gains Tax | 0-10% | 0% |
| Corporate Tax | 25% | 17% |
| Residency Requirement | Friendly Nations Visa ($5,000) | EntrePass or Employment |
| Minimum Stay | None required | 183 days for tax residency |
| Cost of Living | Moderate ($1,500-2,500/mo) | Very High ($4,000-7,000/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
🇸🇬 Singapore
Highlights
- ✅Zero capital gains tax
- ✅Territorial system
- ✅World-class infrastructure
- ✅English speaking
- ✅Global finance hub
Considerations
- ⚠️Very expensive
- ⚠️Hard to get residency
- ⚠️Hot and humid
Best For
- 👤High earners
- 👤Entrepreneurs
- 👤Finance professionals
Which Should You Choose?
Choose Panama if: You prioritize dollar-based economy and strong banking sector. Ideal for entrepreneurs, international traders, banking needs.
Choose Singapore if: You prioritize zero capital gains tax and territorial system. Ideal for high earners, entrepreneurs, finance professionals.
Not Sure Which is Right for You?
Take our free eligibility assessment to see which tax residency program fits your situation.