🇵🇦 Panama vs 🇹🇭 Thailand
Complete Tax Residency Comparison for Digital Nomads & Entrepreneurs
Quick Comparison
| Factor | 🇵🇦 Panama | 🇹🇭 Thailand |
|---|---|---|
| Tax System | Territorial | Territorial (changing) |
| Income Tax (Foreign) | 0% (foreign income) | 0-35% (local income) |
| Capital Gains Tax | 0-10% | 0% (foreign, if not remitted) |
| Corporate Tax | 25% | 20% |
| Residency Requirement | Friendly Nations Visa ($5,000) | LTR Visa ($80k/year income) |
| Minimum Stay | None required | 180 days for tax residency |
| Cost of Living | Moderate ($1,500-2,500/mo) | Low ($1,200-2,500/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
🇹🇭 Thailand
Highlights
- ✅Amazing lifestyle
- ✅Low cost of living
- ✅Great food and culture
- ✅Digital nomad friendly
- ✅Good healthcare
Considerations
- ⚠️Tax rules changing in 2024
- ⚠️Visa can be complex
- ⚠️Language barrier
Best For
- 👤Lifestyle seekers
- 👤Digital nomads
- 👤Retirees
Which Should You Choose?
Choose Panama if: You prioritize dollar-based economy and strong banking sector. Ideal for entrepreneurs, international traders, banking needs.
Choose Thailand if: You prioritize amazing lifestyle and low cost of living. Ideal for lifestyle seekers, digital nomads, retirees.
Not Sure Which is Right for You?
Take our free eligibility assessment to see which tax residency program fits your situation.