The cost of privacy spells tax and trading in Panama’s stable environment
Panama is politically stable, it has a modern telecommunications network, its currency is the US dollar and, increasingly, it is turning into a regional logistics hub.
Yet it has also made a name for itself for the shroud of secrecy it has afforded both to companies and individuals in their financial dealings.
The secrecy has attracted negative publicity. In March 2009, Panama was listed as a money-laundering country, yet it now has agreed 11 double taxation treaties with other jurisdictions around the world.
Original source: Financial Times