Many asset protection planners are recommending the Republic of Panama for their clients for being one of the leading offshore tax and residential havens in the world.

The Panama Canal (built by the U.S. in 1903 and, in 1999, returned to Panama) is considered to be the greatest engineering marvels of all time. And although the current Torrijos regime has its critics and Panama has its share of internal problems, nonetheless Panama has the most stable governments in Latin America.

Since 1903, the local currency of Panama has been the U.S. dollar. Furthermore, as far back as the 1920s, Panama pioneered adopting offshore corporate and asset protection laws. Currently, the Republic of Panama is home to thousands of international business corporations, trusts and private foundations. The majority of these companies were created and are controlled by foreigners, and all of them are protected by guaranteed financial and banking privacy.

These facts are already common knowledge throughout the world. What is not well known are the extensive and attractive investments and money making possibilities in Panama. These include real estate purchases and construction which are exempt the first 15 years from local taxes; investing in bank cash deposits
which allow instant residency; a special pensinado', or pensioner program for foreigners giving immediate residency, tax exemptions and a number of other discounts on imports and local goods and services.

These unique deals have successfully encouraged construction as well as creating jobs in Panama. But they also are worth tens of thousands of dollars
to expatriates who have retired in this peaceful haven or who purchase winter homes here. Investors are rushing to make millions, and high-rise condos, hotels
and shopping centers are springing up everywhere, the results of which are changing the skyline of Panama City Skyline to become, literally, a forest of construction cranes and new skyscrapers.

A final note: This favorable investment side of Panama is not widely known. Needless to say, it probably won’t last for long.

If you would like more information regarding asset protection, trusts, family limited partnerships or the subject of this article please call or email our office.