The Republic of Panama
Due to its strategic geographical position, Panama has become a logistic center in numerous areas, such as:
- Maritime Transportation -The Panama Canal and the main Ports in the region, in both the Pacific and the Atlantic Ocean.
- Air Transportation -The Panama International Airport is considered the main air HOP of the area from which operates the largest airline in Latin America, COPA Airlines.
- Commodity Storage and Redistribution of Goods -Colon Free Zone and Howard Zone.
- Financial Sector -Is the most important international banking center in the region, with around 75 banks and legislation relating to banking and financing services.
Having the U.S. dollar as legal tender, has allowed Panama to control inflationary trends and develop a reliable and stable banking infrastructure, which includes branches of major international banks. Panamanian banks are considered the most solids in the region.
Our corporate and asset protection laws are still applicable for nearly a century, offering a variety of legal forms for financial and estate planning, such as corporations, trusts and Private Foundations. This platform together with our territorial tax system, positions Panama as the ideal place for tax and estate planning.
In recent years Panama has experienced a boom in the real estate market, becoming a capital surrounded by luxurious hotels, casinos, shopping malls, international banks and endless skyscrapers, through fantastic beach homes and condos on the shores of both oceans, to the relaxing atmosphere of the mountains, becoming a haven for those wishing to retire in a tropical climate, where life is comfortable and the costs are low.
One of the biggest engines of our economy is The Panama Canal, through which more than 13,000 vessels transit per year from one ocean to another, as well as related services such as the port terminals operated by multinational leaders companies, shipyards, docks for Cruises, shipping agencies, free zones, a Maritime Court. We also have the largest ship registry in the world and a register of mortgages considered the most secure worldwide.