This year, they are expected to welcome 650 new wealthy residents
by the El Reportero News Services
Costa Rica and Panama have emerged as the top destinations for the global elite looking to relocate their wealth. According to the annual Private Wealth Migration Report by international consultancy Henley & Partners, both countries are projected to attract a combined total of 650 new millionaires by the end of 2025. Costa Rica is expected to welcome 350 of them, while Panama will gain 300.
This trend stands in stark contrast to what’s happening in the region’s largest economies, which are seeing a sharp outflow of wealthy individuals. Brazil is forecast to lose around 1,200 millionaires this year, while Colombia and Mexico are each expected to see 150 high-net-worth individuals leave. Argentina is also projected to lose about 100.
The driving forces behind this shift include political instability, insecurity, high taxation, and unfavorable investment climates in those countries. Meanwhile, Panama and Costa Rica are gaining a reputation as safe, stable, and financially strategic places for the world’s wealthy to settle.
One of the biggest attractions for these high-net-worth migrants is the favorable tax environment. Neither Costa Rica nor Panama imposes inheritance or estate taxes, making them particularly appealing for wealth preservation and estate planning. Additionally, Panama boasts a low 10 percent capital gains tax—well below the international average—making it a popular option for investors and entrepreneurs alike.
Both countries also feature luxury real estate markets in high demand. In Costa Rica, areas like Escazú and Santa Ana offer gated communities, international schools, and scenic mountain views. In Panama, locations such as Punta Pacífica and Boquete combine modern amenities with natural beauty. These areas have become magnets for expats, retirees, and investors seeking a high standard of living.
Moreover, both governments have introduced investor residency programs that make it easier for foreigners to obtain legal status through real estate purchases, business investments, or fixed deposits. These programs not only streamline immigration but also offer a path to long-term residency or citizenship.
Though many of the new arrivals are from the United States and Canada, there is also increasing interest from Europe and Asia. Henley & Partners notes that today’s millionaires are seeking more than just tax breaks—they want peace of mind, security, and a better quality of life for their families.
In a world marked by political and economic uncertainty, Panama and Costa Rica are standing out as safe havens for global wealth.
