Panama Banking Law Change: 02/08

Introduction - A new amendment to the Panama Banking Law was passed on Friday 02/22/08 . This should have no effect on any of you banking or considering banking in Panama . The transparency and/or banking secrecy is not affected. There are no information sharing treaties involved, no MLAT Treaties, nor are there any tax treaties involved.

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Investing in Panama

The Republic of Panama is perhaps the perfect place for anyone seeking substantial fiscal privacy without private or business taxes. It is also one of the only safe city economically and medically accessible in the world.

Panama is a paradise for investment and this is one of the many reasons why many Americans and other countries decide to invest in Panama.

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Advantages of Panama Investment

• Panama City is a major world centre for international banking and related financial activity. The absence of currency exchange controls allows cash to flow in and out of Panama freely, enticing investors to bring their banking activities toPanama.

• Panama has identified various parts of the country as ‘Special Tourism Zones’ which offer benefits and tax breaks such as: Property and land tax exemption.

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