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Panama is well known for its key geographic location, the well profitable Panama canal and its economy primarily based on a well developed service sector greatly weighted towards banking, commerce, trading and private industries, and tourism. In addition, the bilateral investment treaty, signed by the governments of United States and Panama, protects U.S. Investment and assists Panama in its efforts to develop its economy by creating conditions more favorable for U.S. Private investments and thereby strengthening the development of its private sector.
Since Panamanian national laws are different, a lawyer can become very useful when it comes to a decision of moving production or other facilities offshore. In Panama, there are various law firms that offer a large variety of legal services related to offshore corporations, foundations, commercial licenses, escrow services, immigration, etc.
Also the lawyers provide their clients with some extra services like open bank account assistance, brokerage and merchant accounts, assets protection, estate planning and legal consulting.
Panama itself have a system of very efficient offshore services that are actually turning Panama into one of the major corporation service providers in the world. There are also private interest foundations that allow the protection of assets destined to non commercial activities. Any company wishing to open an offshore bank account in well known and prestigious banks should at first contact a lawyer. Since the offshore companies accentuate the safe and secure financial side of doing business in Panama, law firms make sure that all accounts are set up through the secure, stable and reputable correspondent banks or brokerage firms.
