Panamanian Banks Contribute to Growth in Panama

The UK’s First Post ran an article recently about the advantages of Panamanian banking in a Post-Madoff age.

Panama is one of the best international banking solutions because it allows for secure stashing of money in some of the safest banks in the world.

There is a history of drug dealers and crooks using Panama to launder money, but the unsavory activity has since been cleaned up. Lately, due to the growth in Panama, Venezuelans and Colombians are flocking to Panamanian banks rather than U.S. banks due to the Patriot Act putting limitations on foreign citizens.

Panama adopted Swiss banking laws in the 1970s in addition to the corporate laws of Delaware, the “friendliest business” state. There are over 80 registered banks in Panama that have grown from traffic and trade along the Panama Canal. There is little government regulation, but heavy supervision by owners that have applied stringent lending standards.

Are you looking for land in Panama? Check out our land deals in Panama at panama-land-for-sale.com! Buy land in Panama--Our site is a resource for learning about retiring or moving to Panama!