PANAMA

What is unique in your jurisdiction and why Chinese investors should form companies there?Panama has a Free Zone in the Panama Canal Zone. There are more than 300 banks dealing with import, export of goods. Bank of China is in Panama. We can use CNY (Renminbi) as contract-currency. What makes your jurisdiction different from other competitors for Chinese investors?Panama Canal is unique. Panama Canal is a magnet. Everybody has a representative office in Panama.What is the general taxation rate for incorporating companies in your jurisdiction?Zero. Can the regulatory authority request information about the company and officers or account details from...

2020

Executive Summary:Panama has come a long way since the free-wheeling days of the 1990s, but it is still relatively tax-friendly. The service sector contributes more than 75% of the economy, which is based on banking, tourism, mining and commerce, alongside of course the famous canal, currently being enlarged for the nth time. The government is trying to make productive use of the canal's facilities with export processing zones and many investment incentives.  The Colon Free Zone is very successful, accounting for more than 10% of GNP. Only locally-sourced income is taxed. It is reasonably easy to form corporations, and privacy...

2020

Country:                                  The Republic of Panama Region:                                    Central America Currency:                                United States Dollar (USD) Languages:                              Spanish Time Zone:                              UTC -5 Phone Code:                           +507 Communications:                    Excellent The Republic of Panama became independent fromthe Spain in 1821 and united to the Great Colombia. After years of being put aside, Panama seceded from the Great Colombia on November 3 of 1903 and the Republic of Panama was born as an independent and sovereign country. The population is approximately 4,1 Million. The official language is Spanish, although English is widely spoken or at least understood and there is a...

2018