BANKING, FINANCE AND INVESTMENT – PANAMA OFFSHORE BANK ACCOUNT
The Panamanian Stock Market, known as the Bolsa de Valores de Panamá, S. A., is organized as its own corporation. There are none Directors on its board, as well as five committees that administer the market – the Executive Committee, the Technical Committee, the Trading and Internal Regulations Committee, the Stock Market Operations Oversight Committee and the Audit Committee.
Market value of publicly traded shares: $5.074 billion (2005)
BCIE, CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Panama has many investment incentives that offer many opportunities for foreigners who wish to take advantage of the Panamanian offshore business climate. Tax breaks, duty exemptions and other incentives are available for those businesses involving tourism – including hotel and resort construction and other housing developments, both in and out of the larger cities. Also in play are forestry and agriculture industries.
Real estate taxes are paid on a sliding scale from .70 percent to 2.1 percent, depending on the value of the property as well as a number of other factors. The seller pays 2 percent on real estate transfers. New construction has tax exemptions from five to 15 years depending on the value of the property; land is not exempt.