A simple example is taking up tax residency in Panama, registering with AIRE in Panama, but living in Mexico or Colombia. Panama has a territorial tax system, which only applies if you or your company receive payments from Panamanian citizens. In any other case, you will be 100% exempt from any accounting or tax burden. Panama also uses the dollar as its currency, which leads to high living costs. Mexico and Colombia, on the other hand, are high-tax countries but with extremely ineffective systems. Furthermore, their currencies are weak against the dollar, resulting in extremely low living costs. Typically, a global entrepreneur lives in Mexico or Colombia, earning tax-free dollars from Panama, and spending in Mexico or Colombia triples or quadruples their standard of living and purchasing power. They earn in Panama. But they live and invest in Mexico or Colombia, which, being larger countries, also offer many more opportunities for entertainment and pastimes. In practice, it's always worthwhile. This practice is suitable for anyone who operates a 100% online business, for example, which, due to its ethereal nature, can avoid 100% of the taxes due. They can have employees in any jurisdiction given the ease of digital communication available today . The same applies to those who operate dropshipping businesses or sell digital products.