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After 3+ years living and working online from Costa Rica, I moved to Panama doing the same over 18 months ago. The infrastructure and bandwidth is much more reliable and sustainable in Panama...and CHEAPER. I am set up with 1Gig Internet bandwidth up/down for $75 /month, VOIP with a Florida number and toll free 800 that all ring to my VOIP connection here. Unlimited calls to and from North America cost me $25 per month flat. Calls to most other countries are between 4-11 cents per minute. Panama also has many local VOIP providers which is the easiest way to get a local telephone line with a contract for their VOIP services...at rates very competitive with Vonage and other international carriers. So, for me and my money, Panama is much more "business friendly"...
I lived there a long time ago during my active duty army years, but it was before the current entrepreneurial business boom. I would have to agree that it would seem that Panama is a better option for living and doing business from afar. Additionally, correrct me if I am wrong, but their pensionado or residencia programs currently allows the importation of vehicles duty free? By contrast I believe in CR taxes on new vehicles are 100% of the purchase price, which pegs my sense of fair play meter in the red.
I also believe that the fun venues in Panama are much more diverse ranging from numerous MPs to nightclubs through the scenes at the various hotels and bars.
One follow-up question I have for those of you working in Costa Rica or Panama is whether you are self employed or working for a corporation?