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Panama
Expat guide
From Italia

Espatriare in Panama da Italia: guida fiscale 2026

Everything a Italia tax resident needs to know before relocating to Panama. Exit tax, tax residency, treaties, special regimes, crypto, real estate and inheritance.

Income tax

Variable

Capital gains

10 %

Corp tax

25 %

Crypto

0 %

Inheritance

0 %

VAT

7 %

TaxCompanyCryptoInvestSimulatorRanking

Panama is one of the last countries applying purely territorial taxation: only Panamanian-source income is taxed, foreign income is completely exempt. For freelancers, consultants and entrepreneurs working with international clients from Panama, income tax is effectively 0%.

The Friendly Nations Visa facilitates settlement for nationals of 50 countries. Complete 2026 guide with real costs and procedures.

What you need to know as a Italia resident

Exit tax Italia

26 %threshold 2,500,000 EUR

Applicabile al trasferimento della residenza fiscale fuori dall Italia. 26 % sulle plusvalenze latenti. Rateizzazione in 5 rate verso paesi UE/SEE.

Why expatriate to Panama?

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.

Special expat regimes

2 regime(s) available in Panama to optimize your taxes.

Exit tax in Panama

No exit tax

Nessuna

Nessuna exit tax a Panama.

Crypto asset taxation

Capital gains

0 %

Long-term

0 %

Crypto-to-crypto

Exempt

Reporting

Not required

0 %: tassazione territoriale. Solo i redditi di fonte panamense sono tassati. Guadagni crypto fuori da Panama non tassati.

Legal structures for your business

1 legal structure available for doing business in Panama.

1

Società Anonima (SA)

Most common structure

IS 25 % Participation exemption

* Information for guidance for a Italia tax resident. Consult an international tax expert for your situation. Data 2026.