Tax residence in Panama but living in a different country

[wdf123]

Hi.

So, I've been thinking about moving my tax residence over to Panama but, on a personal level, I'd like to physically live somewhere else. I'm aware that most of the countries would only allow me to stay for ~6 months if I'm not a tax residence, but I thought of asking: do you know some exceptions to the rule? I mean, places where I could be non-tax resident but still allowed to stay longer than ~6 months?

 

[Golden Fleece]

wdf123 said:
Hi.

So, I've been thinking about moving my tax residence over to Panama but, on a personal level, I'd like to physically live somewhere else. I'm aware that most of the countries would only allow me to stay for ~6 months if I'm not a tax residence, but I thought of asking: do you know some exceptions to the rule? I mean, places where I could be non-tax resident but still allowed to stay longer than ~6 months?
Click to expand...

Someone posted a thread recently with a list of all the zero tax nations.

BTW: Be sure to seek advice from a Panamanian lawyer. There is a great deal of misinformation on the web about Panamanian tax residency. Many sites claim that permanent residency automatically creates tax residency status. Other sites say the following:

Tax Residency and Tax Certificate​

Becoming a permanent resident will not automatically make you a tax resident in Panama. The terms of becoming a tax resident are stated in article 762-N of the Tax Code, executive decree 958 of 2016, issued by Dirección General de Ingresos.

In order to be considered a tax resident, you need to meet either one of the following criteria:

• be present in Panama for more than 183 calendar days in a tax year or the year immediately preceding.
• show proof that you have established your permanent home in Panama

Click to expand...

https://globalisationguide.org/residency/panama-friendly-nations-visa/
I do not know what is true, but be sure you seek accurate information from a professional.

Last edited: Apr 24, 2021

 

[Liberta]

be carefull. you can be requalified if you stay more than 183 days in one country.
Otherwise Panama sounds a good plan.