Panama
countryPanama taxes only Panama-source income, and crypto traded on foreign exchanges is generally treated as foreign-source — so gains are untaxed for residents. There is no crypto-specific tax law at all. The Qualified Investor visa grants immediate permanent residency at $300K. The catches: legal silence means ambiguity, business activity inside Panama is taxed up to 15–25%, and local banks treat crypto proceeds warily.
Bitcoin tax treatment
No crypto-specific tax law exists; under the territorial system, gains realized on foreign exchanges are treated as foreign-source and untaxed as of mid-2026, while crypto traded as a business within Panama can face up to 15% for individuals or 25% for companies.
territorial taxation: yes
Getting in
Residency: The Qualified Investor visa grants immediate permanent residency for $300K (real estate, securities, or deposits); the Friendly Nations visa offers a cheaper route (~$200K in real estate or a local job) for citizens of about 50 eligible countries.
Citizenship: Naturalization after 5 years of permanent residency (3 for some Latin American and Spanish nationals), though approvals are slow and discretionary.
Regime stability — the honest note
The zero-tax outcome rests on the absence of legislation rather than the presence of protection — a future VASP or tax statute could redraw the lines overnight.
Verified 2026-06-12. Tax law is paper, not bedrock — verify against primary sources before moving anything that matters. This is not tax or legal advice.