Panama, Thailand, Georgia, Greece: Tax Rates & Visa Options Compared

Side-by-side breakdown of tax rates, visa options, personal tax, and 6 more dimensions for founders choosing where to incorporate in 2026.

Select Countries

SingaporeCyprusEstoniaUruguayPanamaPortugalCosta RicaBelizeSwitzerlandMaltaUnited KingdomCanadaGreeceItalyParaguaySpainGeorgiaUnited Arab EmiratesGermanyIrelandIndonesiaColombiaNetherlandsArgentinaMexicoThailandSao Tome and Principe
4 selectedClear all
🇵🇦Panama
76
Territorial
🇬🇪Georgia
68
Small Business Status / Virtual Zone IT Company
🇹🇭Thailand
57
Worldwide
🇬🇷Greece
70
Worldwide

Dimension Profile

Shape = jurisdiction fingerprint. Gap = your decision.

Tax Regime Comparison5
🇵🇦PanamaTerritorial25%
🇬🇪GeorgiaSmall Business Status / Virtual Zone IT Company20%
🇹🇭ThailandWorldwide35%
🇬🇷GreeceWorldwide44%
Tax system mismatchCritical

Thailand and Greece tax all worldwide income once you become a tax resident (top rate: 44%). Panama and Georgia do not - only locally-sourced income is taxed. This is a fundamental structural difference that affects your total effective tax burden.

Exit tax applies in one jurisdictionCritical

Greece has an exit tax. If you establish residency and later wish to leave, you may owe tax on unrealized gains or assets at departure. The other countries in this comparison do not have an exit tax.

24pp personal tax rate spreadReview

Both countries tax worldwide income, but the top personal income tax rates differ materially. Greece: 44% vs Georgia: 20%. Both apply to all global earnings once you establish residency.

CFC rules apply in one jurisdictionReview

Greece has Controlled Foreign Corporation (CFC) rules. Owning a foreign company as a resident may trigger local tax on undistributed profits - even if the company pays no dividends. The other countries in this comparison do not have CFC rules.

Special tax regime available in one jurisdictionNote

Georgia (Small Business Status / Virtual Zone IT Company) offers a qualifying program that may exempt foreign-source income from local tax. This can significantly reduce your effective rate compared to the standard regime.

Not tax advice. Tax laws change frequently. Verify with a qualified professional before making residency decisions.

Field-by-Field Breakdown

Green = best value per row
Metric
🇵🇦Panama76
🇬🇪Georgia68
🇹🇭Thailand57
🇬🇷Greece70
Dimension Scores
Corporate Tax
100
100
43
52
Funding
60
70
70
85
Visa
90
50
90
85
Residency
73
58
58
60
Tax Res.
80
75
60
45
Practical
81
86
58
83
Remote Work
88
80
72
79
Family
80
90
80
85
Ecosystem
40
40
60
65
Corporate Tax Details
Corporate Tax Rate25%15%20%22%
Capital Gains Tax10%15%0%22%
Tax Treaties17566157
Territorial SystemYesYesNoNo
Funding Details
Active VCs12142016
Government GrantsYesYesYesYes
EU Funding EligibleNoNoNoYes
Visa Details
Has Startup VisaYesNoYesYes
Processing Time30-60120
Min Investment$200K--$272K
E-ResidencyNoNoNoNo
Digital Nomad VisaYesYesYesYes
Residency Details
Visa Programs Available3326
Citizenship Timeline510127
Dual CitizenshipYesNoNoYes
Immigration Score8966
Tax Res. Details
Tax Residency Days183183180183
Personal Tax Top Rate25203544
Territorial TaxationYesNoNoNo
Special Tax RegimeNoYesNoYes
Exit TaxNoNoNoYes
Practical Details
Banking Difficultymoderateeasymoderatemoderate
100% Foreign OwnershipYesYesNoYes
Company Formation511410
Virtual Office OKYesYesYesYes
Remote Work Details
Nomad VisaYesNoYesYes
Tourist Worktoleratedlegalgray_areaillegal
Tourist Visa Days1803653090
PE Risk Levellowlowlowmoderate
Days Before Tax Res.183183180183
Internet Speed504520093
Coworking/mo$200$100$150$175
Family Details
Safety Index55726254
Int'l SchoolsYesYesYesYes
Homeschoolinglegallegallegal_with_restrictionslegal_with_restrictions
Healthcare Quality68587259
Cost of Living65384040
Ecosystem Details
Unicorns0032
English Business EnvNoNoNoYes
Talent Pool Quality48525568

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