Panama is one of the most stable countries in Latin America
. It is this stability coupled with the lower tax rates that attracts offshore companies to Panama. In order to survive in the present state of the global economy companies need to make use of every advantage they get. The terms offered by Panama to these companies are mutually agreeable, but one should hire a professional law firm to make sure that all regulations are followed.
The Government of Panama has three branches with checks and balances like the ones the U.S. federal government has. The U.S Dollar has been the official currency of the country from the year 1904. This means that there is no exchange control here. The U.S Dollar is quite stable and this fact makes Panama stable. Even though Spanish is the official language of Panama most of people can speak more than one language. The most common language other than Spanish is English. This makes communicating with the locals very easy.
Panama canal enables panama to stay in touch with different governments and organizations located in different parts of the world. As a result of this a system has been developed that not only accepts new businesses, but also promotes free trade. Panama feels that promoting free trade is the best way to increase the volume of business that is done around the world.
Offshore companies set up in the Panama can avoid unnecessary regulations and neednt pay a large amount of tax. This enables companies to control their own destinies rather then leaving it in someone else hands. One can reap all the benefits offered by Panama provided they hire a reputed law firm. The law firm is needed to ensure that all regulations laid down by the Government of Panama are respected.