Panama Company vs Foundation

Panama Company vs Foundation


The formation and activities of a Panama Private Interest Foundation and Panama Corporation are...


Panama Foundations

Panama Foundations


The Panama Foundation Law was established in Panama in 1995. Panama Foundations are unique because...


About Panama


The Republic of Panama has a total area of about 78,200 square kilometers. Its capital is Panama City, with an estimated total 1.1 million inhabitants. Other important towns include Colon and David, which have fairly large populations of nearly 200,000 people. Panama is a relatively mountainous country with a mixed make up of volcanic and coral origin. Panama has a tropical climate with an average daily rainfall of 28 mm during the wet months.

Besides helping to incorporate companies, one of our largest services involves introducing patrons to dual citizenship. This is available through citizenship by investment program an offers a chance at getting a second citizenship. So when incorporating or after having done so, individuals can ask about our second passport support. Our friendly team puts patrons in touch with our partnering agents and process citizenship applications. Advice on how to apply and additional asset protection tools is also given.

Once Panama had been settled in the 1500’s by the Spanish, Panama formed part of Spain’s empire for about 300 years (1538-1821). The first recorded indigenous tribes to have settled Panama were the Cuevas and the Cocle, who were eventually wiped out by massacres and European diseases that were introduced to Panama during Spanish settlement. Today, Panama’s indigenous people account for roughly 5% of Panama’s population and can be found in the most remote areas of the country; they include the Nôbe-Buglé, Teribe, Guaymi, Bokata, Talamanca, Embera-Wounaan and the Kuna, with the Guaymi and Nôbe-Buglé representing the largest portion of the indigenous population. Though a few of the tribes have over the years acquired the normal Panamanian life-style and form an integral part of society, many of them have chosen to remain secluded and preserve their native language. Areas where some of these indigenous peoples can be found include the Province of Chiquiri, San Blas, Western Panama and the south-eastern and mountain ranges of Darien.

The construction of the Panama Canal played a major role in the direction that the development of Panama took as well as the political and social turbulences that the country experienced during the course of its history. Panama’s strategic location made it a target for various powers such as the French during 1880 and 1890, when the very first attempts were made to construct a sea-level canal, the Spanish and then the United States once Panama had proclaimed itself a sovereign state in 1903. U.S influence in Panama has been and still is very evident in the country’s economic trajectory. The official legal tender of Panama, for example, though called the Balboa, for nationalistic reasons, is the US dollar. Panama has also been a major destination for North American tourists and has won the profile of one of the world’ top five countries for retirement.

Many American investors continue to play an important role in Panama through the construction of factories and commercial centers, while a significant number of retirees that have settled in Panama, to date – approximately 80,000, come from the United States and Canada, among other European and Latin American countries. Additionally, in December 2006, negotiations were completed between Panama and the United States on a free trade agreement whereby trade between both countries were increased and tariffs and other trade barriers were eliminated in an effort to promote economic growth. The Agreement was also aimed at providing US exporters, investors and manufacturers with new opportunities including the chance to be part of the expansion project of the Panama Canal. Eighty percent of Panama’s economy is based on services.

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