Netherlands vs Panama: which jurisdiction wins?

Netherlands vs Panama — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Netherlands	Panama
Tax headline	25.8% corporate; participation exemption for holdings	0% on foreign-sourced income (territorial)
Formation days	5	5
First-year cost	$6,500	$2,200
Treaties	95+	17+
Substance	Substance decree — mandatory directors, payroll, office	Light
Banking	ING, Rabobank, ABN AMRO	Local Panamanian banks; USD economy

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