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Radical Personal Finance

981: 🇵🇦Panama Is a World-Class Destination for Your International Plans; Here's Why - Interview with Mikkel Thorup from Expat Money

Nov 27, 2023
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.
38:36

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • 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.

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