“PANAMA” – INTERNATIONAL BANKING, BUSINESS & CORPORATE CENTER

“PANAMA” – INTERNATIONAL BANKING, BUSINESS & CORPORATE CENTER

Business and commercial activities are becoming increasingly global, as many firms expand their operations into overseas markets.  This presents to business owners the additional need to organize, separate, diversify, and protect their assets.  Panama has become a major Corporate Center in the Western Hemisphere, just as it became a world-class Banking Center, and a World Commerce Center.  Panama has a “pro-business” government attitude and policy.  Being at the cross-roads of two oceans and two continents Panama is the best place to live, and the best place to invest and do business in Latin America.  Panama is a world-class Business, Transportation, and Tourism hub.  Panama represents an environment conducive for the creation of companies, jobs and prosperity.  Panama is a genuine international trade and banking center that is well-known and respected throughout the world, and is the ideal jurisdiction for international investors and businessmen to operate their corporations, banking, investing, finances, and all other areas of international trade.  In short – “Panama is Amazing !”

Panama offers the following Business Advantages & Benefits, as well as other aspects that make Panama the “Place To Be”:

• Most Favorable and Most Flexible Incorporation Laws in the World (with the best infrastructure and legal environment) (with over 500,000 corporations and foundations, making it the 2^nd most popular corporate jurisdiction in the world)
• Strict Privacy Laws (privacy and confidentiality is not only respected, but vigorously protected by constitutional law)
• Completely Tax Free (to all International (Non-Panama) business)
• Advanced Communications Systems (Local & International) (Five international fiber optic cables run through Panama) (PAC, SAC, ARCOS, Pan-American and MAYA)
• Excellent, Stable, Modern Banking System (advanced Infrastructure & Technology) (Panama is the 2^nd largest banking center in the world with over 100 international banks from 35 countries)
• Investment & Tax Incentives
• 20 Year Property Tax Exoneration (No Taxes on Real Estate Properties (Residential & Commercial))
• Fastest Growing Stock Market in the region
• Second Largest “Free Trade Zone” in the World (the Colon Free Zone) (plus several other “Special Economic Trade Zones”) (the Colon Free Zone surpasses $5 Billion Annually, directed toward a market of over 525 million consumers) (the “Panama Pacifico already has 145 multinational companies located there with an additional 50+ in process) (the “City of Knowledge” an international business and technological park, biology lab, and academic campus)
• (USA) Tax Exempt for all Meetings & Conventions held in Panama
• Panama has become the “Business Capital of the Americas”
• Panama has adopted more than 40 laws protecting foreigners’ financial and investment rights, including:  “Law No. 54” – guarantees all foreign and national investors equal rights (no special authorizations, permits or registrations) //  “Law No. 41” – offers major incentives for companies to make their corporate headquarters in Panama //  (over 85 major international companies have already set-up their headquarters in Panama)
• Politically stable Democratic Government
• Top of the list of the world’s “Freest Economies”
• Stable, Recession resistant, growth Economy (Investment Grade Rated by: Moody’s, S&P, Fitch) (Panama has one of the lowest Unemployment Rates (4.0%) and one of the highest GDP growth rates (10%+) in the world) (Panama’s inflation rate has averaged less than 2% for the last 40 years) 
• Stable Currency (US Dollar) with No Restrictions on Movement (In/Out)
• Complete, Modern, First World Infrastructure, Services & Amenities (equivalent to US, Canada, & UK)
• Language Compatibility (Spanish, with English as a second language)
• Convenient Geographical Location (Panama has the best logistical connections by air and sea)
• Time Zone Compatibility (easy communication from most locations during normal domestic business hours)
• Safe, Gentle, Year Round Climate
• Blessed by Nature - Absence of Natural Disasters (No Hurricanes, No Earthquakes, No Volcanoes)
• Safe, and Secure for visiting, living, and investments (Low Crime Rate) (Political Risk Services: named Panama in the top 3 countries of the hemisphere with best risk-investment qualifications) (Panama also received the highest rating for tourist safety)
• Great overall Sanitary Conditions (modern infrastructure & systems / even the Tap Water is completely safe to drink)
• Educated, Advanced Population (High Literacy Rate)
• Excellent, First-Class, Advanced Technological Medical Services & Facilities (US Quality and Standards)
• Economical, Low-Cost of Living (5^th Cheapest Capital City in the World to Live-in)
• One of the Top Retirement destinations in the World (according to AARP, Kiplinger, Forbes & Business Week) (offering the best, unequalled retiree benefit program in the world)
• Panama City is a sophisticated, energetic, modern, international metropolis (shopping, restaurants, entertainment, culture)
• Great variety of Attractions, and World Class Adventures:  (beautiful beaches, exotic-tropical rain forests, ecotourism, beautiful mountain refuges, diving, surfing, rafting, sport fishing, sailing, yachting, whale watching, more than 1,000 island venues, 7-living indigenous cultures, historic sites, museum, golf, fun cosmopolitan capital city, and, of course, the 8^th Wonder of the World, the Panama Canal)

Major Projects:

Panama Canal Expansion (a $5.25 Billion project that will more than double the capacity of the canal by the year 2014-15)

(the Canal currently has over 14,000 merchant vessels, carrying over 12 million containers, and over 300 million tons of cargo from 75 different countries pass through annually, accounting for over 5% of world trade)

Metro Subway System (a $1.5 Billion project that will transform the life of the city residents by the year 2014)

Metro Bus System (a $270 million project, creating a new, modern, high-capacity bus fleet (1,200 buses))

Tocumen International Airport Expansion – the new South Terminal, and 3^rd runway, a $680 million project that will be capable of supporting over 18 million passengers per year, making it the new “Hub of the Americas”.

Cinta Costera (Coastal Beltway) designed as a by-pass route around the city for faster travel, and to alleviate the inner-city traffic congestion (Phase 1 ($189 million), Phase 2 ($57 million), Phase 3 ($777 million)) / plus additional expansions of both the North Corridor and South Corridor ($290 million)

New Convention Center fronting the Pacific entrance of the Canal (16,500 square meters / $193.7 million / 2014 completion)

(due to post 9/11 U.S. Visa difficulties, and its easy access central location, Panama is replacing Miami as the new place to gather)

Governmental City – new government offices project located on 64 hectares in the Curundu area will be utilized by over 20,000 public employees ($360 million)

The Panatropolis - a 344 hectare (850 acres) site adjacent to the Tocumen International Airport. A brand new international city, designed as the first and most innovative aerotropolis in Latin America with a population expected to be 200,000.

Ciudad del Saber (City of Knowledge) a 120 hectares (296.5 acres) “Special Incentive Zone” for academic organizations, technology companies and non-governmental organizations located at the site of the old US Army base (Fort Clayton) only 15 minutes from downtown. (UN, UNICEF, Red Cross, World Food Program, Plan International, Balboa Academy, ILISA, McGill University, University of Pennsylvania, Florida State University, Iowa State University, and other academic members)

Panama Pacifico (Free Zone) – a 3,450 acres (14 square miles) world-class, mixed-use Master Planned Community located on the site of the old Howard AFB only 15 minutes from downtown, with a 8,500 foot cargo runway, and plans for 1 million square meters of new commercial space, 20,000 residential homes, and 40,000 permanent jobs.  It is one of the largest real estate development projects in the world with a fully-developed value of approximately $10 billion.

Rio Hato International Airport Refurbishment & Expansion – a $53 million project completing in mid-2013 (serving the central provinces and Pacific beach communities)

David, Panama – International Airport Expansion ($27 million) and Roadway Expansion (David-to-Boquete) ($170 million)

Inter-American Highway Expansion – a $750 million project to renovate and widen the roadway to four lanes for 280 kilometers between Santiago de Veraguas, and David in Chiriqui.

(20) New Hotel Construction Projects with over 10,000 new rooms (over $700 million)

(Trump Ocean, Riu, Waldorf Astoria, Hard Rock Megapolis, Ritz-Carlton, Westin, Hilton, and many more)

Westland Mall project ($200 million) – Panama’s Largest, and most modern shopping center.

(other large shopping centers: Albrook (3.5 million square feet / 550 stores), Multiplaza ( ), Multicentro ( )

The country has one of the largest undeveloped Copper Mining Projects in the world and when it is up and running in 2016, it will produce over 300,000 tons of copper per year. (Panama has the 2^nd largest Copper Reserves in the World)

As the bridge between North and South America and the corridor for East-West trade, Panama doesn’t just sit at the center of the 21^st century global economy, it makes it possible.  But, Panama has become more than just a pathway for international investment.  With recession-resistant growth powered by a highly competitive economy, a simplified tax structure and world-class physical and financial infrastructures, Panama is an attractive investment destination of its own.

Panama is a vibrant democracy with a dynamic modern economy.  It boasts a system of finance, transportation, technology and human capital that leads the region and is among the best in the world.  That is why Panama is no longer just where the world’s business passes through.  Panama is a land of prosperity and promise all its own.