Panama as a tax haven dates back to 1916 when it approved its first fiscal code. This exempted companies that carried out transactions abroad from paying taxes in Panama. By the 1970’s Panama held more 'offshore companies' on its company registrar than all of the caribbean tax havens combined. Following the Noriega crisis, some of these left to incorporate in new offshore tax havens such as the British Virgen Islands who since the enactment of its BVI International Business Companies Act of 1984 (IBC) has incorporate nearly 150,000 new companies. Many of these emigrated from Panama whilst Noriega was in control.
In recent years, under the influence of stable government, Panama has evolved into one of the most efficient banking tax havens in the world. Recent tightening of privacy laws in favour of the individual, including the outlawing of the behaviour associated with the Papparazzi mean that Panama has become a leader in not only sheltering offshore profits, but combined with its pensionada provisions under Law 9, it has become a destination for the wealthy looking to acquire new residency from a second passport.
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In recent years, under the influence of stable government, Panama has evolved into one of the most efficient banking tax havens in the world. Recent tightening of privacy laws in favour of the individual, including the outlawing of the behaviour associated with the Papparazzi mean that Panama has become a leader in not only sheltering offshore profits, but combined with its pensionada provisions under Law 9, it has become a destination for the wealthy looking to acquire new residency from a second passport.
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- Offshore IBC - An Offshore Panama IBC is an International Business Corporation incorporated in Panama and are eligible to conduct business around the world as well as inside of Panama. Learn more about the uses of an offshore company...
- A complete guide to Offshore Anonymous Debit Cards
- Panama Maps The Net's most complete source for maps of Panama.
- Panama Yellow Pages Here you can find phone numbers and addresses for most businesses in Panama. Pages are in english for the español impared!
- ExedraBooks.com - ExedraBooks is located on the corner of Vía España and Vía Brasil, across from Galerias Obarrio. They have a fine selection of books in english including children's books, fiction, religious, and reference from popular contemporary authors as well as the classics. While you are there don't forget to stop in the cafe for an espresso or capuccino, and take advantage if the WiFi internet connection. (the WiFi is free if you spend $5.00 in the cafe!)
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