This is precisely why more people are seeking asset protection, both personally and corporately, in the offshore Panamanian Foundation. Panama has become a major Latin American banking center and possesses perhaps the best secrecy laws. It is possible to Panama to take advantage of the privacy aspects of a corporation as well as a Foundation. In each case the individual need not have his identity made public. A Foundation can own a corporation in Panama or elsewhere. The corporation can own a number of assets including bank accounts without the corporate shareholders being listed publically. This high level of asset protection makes offshore Panamanian Foundations very attractive to people from common law countries.