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Introduction to Different Offshore Tax Havens Section

Our law firm has taken the time and trouble to research the most popular offshore tax haven jurisdictions. Today (2007) many of the jurisdictions have evolved into 'has been' jurisdictions. They have entered into all sorts of tax treaties, tax information sharing agreements and mutual legal assistance treaties. In addition to this they have weakened or destroyed their bank and corporate secrecy laws.

While it may look like we are saying all these jurisdictions are no good and are promoting Panama, this is not the case. Panama is one of the few jurisdictions left that has not weakened their banking and corporate secrecy laws while the other jurisdictions have done so. Below is a list of reasons why Panama is the best jurisdiction for privacy and asset protection. You can use these points to research other jurisdictions on our website or utilizing other sources and you too will soon see why Panama is the first choice today for an offshore tax haven.

Panama Lack of Treaties – Panama is not in any Tax Treaty of any sort with any country. Panama is not in any civil judgment enforcement or collection treaty, and is not in any child support treaty, spousal support treaty or alimony treaty with any country.

Stable Country – Panama is a stable democracy. We are on the US Dollar.

No Inclement Weather – Many of the former tax havens were established in the days before the Internet thus they were based on islands. Today when the hurricanes, tsunamis, tornadoes etc hit these island jurisdictions go out of commission for days if not weeks. This means you are separated from your money for extended periods of time. The reason the Panama Canal was built in Panama is because Panama has no hurricanes, volcanoes, tsunamis, earthquakes etc. This means you can access your funds when you need to.

Panama is Accessible – Panama City is only 2 ½ hours by air from Miami. Panama City is only one hour from Bogotá, which has international flights from all over the world. Panama can also be accessed from Caracas International Airport, which still has a convenient transit lounge. Copa airlines have many direct flights into Panama from Central and South America. It is easy to visit your money in Panama.

English is Spoken – In panama English is the second language. The banks, stock brokers, hotels, restaurants etc will all have English speakers.

Feel free to contact us with questions.

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Disclaimer

*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.