I’m from Europe and is looking for a country where I can declare my residency, mostly for tax purposes. Panama seems to fit everything. The plan is:
- Get permanent residency using “Friendly Nations Visa”
- Create a company and get a work permit
- Get clients to pay me in that company
Since Panama has territorial tax, all income earned outside Panama has zero taxation.
Is it just that good or is there some hidden catch? I live in a Scandinavian country and they just hate to let people go. Will there be problems in paradise?
The plan is to visit Panama once a year and after five years get a passport.