Gaona Escudero & Asociados
Tel: (507) 217-3705
Email: info@gaeslawfirm.com
Panama City, Panama

ABOUT PANAMA

BENEFITS OF CHOOSING PANAMA AS A RETIRING DESTINATION OR BUSINESS PURPOSES:

The legal tender is the US dollar as Panama’s official currency.
Panama offers low taxes and favourable investment and financial incentives.
Unregulated money exchange and unrestricted movement of capital.
No tax liability on interest earned from bank deposits or CD’S held in banks located in Panama.
Import and export of goods and merchandise.
An attractive fiscal structure that operates on the “local source income” principle, meaning taxes are levied only against income generated by operations conducted in the territory of Panama.
Strong bank secrecy laws.
The best corporate book secrecy laws in the world.
“Piercing the Corporate Veil” is not a principle contemplated in Panamanian Law.
Panama has no mutual legal assistance treaties (MLAT’s) for sharing of banking information with any other nation and does not recognize court rulings from other countries pertaining to tax crimes.
Panama Corporations offer “Bearer Shares”, for shareholders to maintain complete anonymity and privacy.
Panama Private Interest Foundations allow for Private Protectorate Documents and Private Letters of Wishes, enabling controllers (Protectors) and beneficiaries of foundations to remain completely anonymous and private.

GAONA, ESCUDERO & ASOCIADOS