981: 🇵🇦Panama Is a World-Class Destination for Your International Plans; Here's Why - Interview with Mikkel Thorup from Expat Money
Nov 27, 2023
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Guest Mikkel Thorup discusses the benefits of living, investing, and thriving in Panama, including the diverse lifestyle options, rapid development of Panama City, and the importance of tax efficiency. He emphasizes the significance of physically visiting a place and having a backup plan when engaging in internationalization. The advantages of living in Panama, such as the territorial tax system and flexible residency programs, are explored. A forthcoming event in Panama from January 22 to January 28, 2024, is highlighted.
Panama's territorial tax system makes it attractive for individuals with businesses or income generated outside of Panama.
Panama's residency programs offer flexibility and are beneficial for those seeking a plan B or backup option.
Deep dives
Key Point 1: Panama offers tax benefits and territorial tax system
Panama is known for its territorial tax system, which means foreign-sourced income is not taxed. This makes it attractive for individuals with businesses or income generated outside of Panama. However, tax considerations for US citizens will be discussed during the program.
Key Point 2: Panama's residency programs and benefits
Panama offers residency programs that require visiting the country only one day every two years to maintain active status. This flexibility is particularly beneficial for those seeking a plan B or backup option. Additionally, the stability and connectivity of Panama, such as its connection to the US dollar and convenient time zones, make it an attractive location for those looking to establish their life or investment portfolio with a plan A.
Key Point 3: Panama's diverse investment opportunities
Panama presents a range of investment opportunities, including real estate, offshore banking, and personal asset structuring. It is one of the largest offshore jurisdictions, with a solid economy and a large international banking sector. Panama's connection to the Panama Canal, which brings in substantial economic benefits, adds to its stability and attractiveness for investment.
Key Point 4: Panama adventure tour and networking opportunities
The Panama adventure tour offers a unique opportunity to explore Panama's different regions, including the private man-made islands, beach areas, mountains, and the Panama Canal. The tour includes real estate tours, visits to a gold depository, and a self-sustaining community. The small group setting fosters networking and building relationships with fellow participants, as well as experts in the field like Michael Thorup and Gabriel Dusil.
Today I interview Mikkel Thorup on the nation of Panama and some of the ways it can be useful for you and for me. Come join the Panama Investment Tour we are hosting in January! https://expatmoney.com/radical
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