Divided between a national and an international banking system, the Panamanian banking sector was once dominated by foreign banks and global transactions, but now domestic and Latin American institutions are the main players. Despite the sector’s strong performance, large global banks like HSBC and BBVA decided to cease local operations, selling...
Panama’s territory of 75,420 sq km is a comparatively small area of land, with a population of a little under 4m people. However, the country has experienced and contributed to key events that have and will continue to shape global trade. Just 24 years ago Panama began a period of intense change, following the end of the authoritarian regime...
Generally, individuals who decide to engage in a commercial activity in Panama are free to choose the type of legal entity. Legal entities such as the Panama private interest foundations and non-profit organisations are subject to special legal provisions according to which they cannot be established for the purpose of engaging in business...
The Panamanian economy grew in the three years from 2010 to 2012 at an average annual rate of 9.7%, earning its place as the most dynamic economy in Latin America. This growth, driven mainly by the construction and mining sectors, has promoted the adaptation and updating of national legislation.
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