Why in Panama?
- Panama Corporations and Foundations have a “Corporate Veil,” which can only be lifted by the national authorities in case they have explicit and supportive evidence that proves that the shareholders or directors of the company have been involved in drug trafficking, money laundering, and/or other unlawful acts that are punished by our criminal code.
- The Panamanian economy has a high development rate; in 2011, the economy grew by 9.0%, 2.1 more than in 2010. Factors such as the real estate boom and construction, the Panama Canal expansion, and the import/export trade areas of the Colon Free Zone are important factors that have influenced this growth,
- The agency Moody has raised the credit rating of sovereigns in Panama’s debt to Baa3, which places it in the investment grade, thanks to the country’s fiscal and debt position.
- The official language is Spanish, although English is widely spoken.
- The official currency of Panama is the US Dollar, which has been in circulation without any exchange control since 1904. Panama has no central Bank.
- Panama is a republic, sovereign and democratic. The power is divided into three-state branches: the Executive, the Legislative, and the Judiciary.
- Panama has one of the most stable governments in all of Latin America.
- Panama is a modern country with advanced communications systems.
- Panama has a free-trade economy, heavily based on transportation and service.
- Foreign investment is one of the most important pillars of the Panamanian economy, so national governments are implementing programs and tax and immigration incentives to investors to develop their businesses, such as Ciudad del Saber, Zona Panama Pacífico, Ley de Sedes Multinacionales, among others.
- All income generated outside of Panama is tax-exempt, no matter if the capital is in the name of a Panamanian juridical person or a local bank. Interests from bank accounts are also tax-exempt.
- Panama City has the best and most modern banking network in all of Latin America. We have more than 80 well-known national and international banks.
- In Panamanian Banking Law, confidentiality is strictly enforced and protected by our Constitution.
- Panama offers legal certainty; Law 32 of 1927, which regulates Panamanian companies, and Law 25 of 1995, which regulates Panamanian Private Interest Foundations, have not been changed or modified since their inception.
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