Consider a Country's Stability Before Opening Offshore Corporations
There are plenty of jurisdictions around the world that promise free trade, few regulations, and non-existent tax burdens. With all of those options, why would you automatically choose Panama as the right place to open your offshore corporations and bank accounts?
Panama law and Panama law firms have something that few other offshore jurisdictions can offer: stability.
Panama's legal system has been influenced by several countries. This allows Panama to pick and choose the best ideas that help its legal system function well so that it protects individual privacy while keeping order.
Many of the legal concepts used in Panama come directly from the United States of America. Some Anglo-American concepts embedded in the Panama legal system include:
- Habeas Corpus, which ensures that individuals have the right to meet with a judge instead of undergoing indefinite detention without a trial
- Judicial precedent, which creates continuity in the law instead of letting judges make rulings based on personal opinions instead of previous rulings.
- A Constitutional guarantee that individuals can only be prosecuted for violations of the law
- The idea that all accused individuals are innocent until proven guilty
These concepts have helped Panama create one of the most stable societies in Central and South America. Panama law and Panama law firms can rest assured that the country's laws have real meaning. Other countries in the area often have kangaroo courts that lead to instability in social and legal structure.
Click "next" to find out more about the economic stability of banks in Panama.