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Offshore Banking in Panama

The official currency of Panama is the United States Dollar. The fact that you can deal with the bank just like in the US and still have the tax advantages of being offshore is what makes Panama such a favorite for offshore banking.

Panama is the second largest banking or trading zone in the world. You company can get Initial Public Offerings underwritten. You can have access to investing in worldwide projects because Panama is such a banking hub for people.

The rates in Panama banking are quite good. You can get close to 10% with a CD and around 21% for a mutual fund. In some cases, the mutual fund principle amount is guaranteed.

One of the reasons for such great returns is that there are no capital gains taxes, no dividend taxes, lower management cost, and less restrictions on investment options.

To get a banking license in Panama, you must be capitalized with at least 15 million dollars of working capital. That amount is much higher than some of the other offshore havens like the Bahamas and Vanuatu.

 

 

 


 

 

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