Expatriarse a Panamá desde España: guía fiscal 2026

Territorial taxation: 0% on foreign income

This is the fundamental principle. If your clients are outside Panama and your income is generated abroad, you pay zero tax in Panama. No filing is required for foreign-source income. This is the territorial system in its purest form.

Friendly Nations Visa in 2026

The Friendly Nations Visa grants permanent residency to nationals of 50 "friendly" countries. Conditions: open a Panamanian bank account with a minimum deposit (~USD 1,000), have an economic tie (company formation, work contract or property title). Timeline: 3 to 6 months. Total cost with lawyer: ~USD 3,000-5,000.

Setting up a company in Panama

The Sociedad Anónima (S.A.) is the standard vehicle. CT: 25% on Panamanian-source income only. Dividends: 10% withholding (5% if reinvested). For international income, the S.A. pays nothing. Minimum capital: USD 0 (but USD 10,000 recommended). Formation takes 2-3 weeks.

2026 Tips

• Banks: account opening has become stricter since the Panama Papers. Banesco and Multibank are most accessible to foreigners. Allow 2-4 weeks and a bank reference letter.
• Tax residency: no strict day threshold. Permanent residency + local bank account suffices. But beware: if your origin country applies a center-of-vital-interests test, you'll need to prove actual settlement in Panama.
• Crypto: no specific regulation in 2026. Foreign-source crypto gains are not taxed (territorial principle).
• Cost of living: Panama City is ~50-60% cheaper than Paris. A 1-bedroom apartment downtown: USD 800-1,400/month.
• Healthcare: private hospital system is good quality (Hospital Punta Pacífica, Johns Hopkins affiliated). Private insurance: USD 200-400/month.