Panama is the southernmost country of Central America with almost 3,5 million inhabitants. This state is famous worldwide for its canal through which transit ships willing to join the Atlantic and the Pacific Ocean shortly. The economy of this country is the most prosperous of Central America and is based on trade, tourism and mainly on financial services. This offshore jurisdiction with a very tax friendly legislation guarantees anonymity to the people having there either an offshore bank account or an offshore company but living abroad. We can easily compare this state to Switzerland because Panama is a regional powerful financial center which offer banking secrecy and a high level of confidentiality in your business.
At FCBA Offshore Ltd, we do recommend our clients to either open an offshore bank account or to incorporate an offshore company in Panama mostly for people not having any business relations with Europe. The reason why, it’s because this jurisdiction is seen as an exotic one by the European governments and also, there is a huge time difference between Europe and Panama which could prevent you from establishing an efficient daily contact with your bank.