The IBC (International Banking Center) currently enjoys, in general terms, a highly satisfactory qualification from international agencies and institutions, inclusive from the International Monetary Fund (IMF), it offers a reliable place and a safe haven for deposits and banking and financial operations, including the administration of patrimonies and private banking. The established banks in Panama have the conditions to provide all types of banking and financial services, traditional or innovative, to the national and foreign investors.
Diverse agents located in Panama, such as Banks, Trust Companies, Law Firms, Security Brokers, Investment Managers, Insurance Companies, Voluntary Pension Funds or Investment Managers, Real Estate Broker and other type of entities offer to the international community multiple financial and efficient legal services, of quality and competitive prices compared to other countries. As follows we mention the following: The incorporation of corporations (which only pay taxes in Panama if they perform operations within the national territory), Private Interest Foundations, Incorporation of Trusts, opening of bank accounts, opening of fixed deposit account, granting of loans to foreigners or foreign entities, leasing and factoring operations, legal and financial consulting, purchase and sale of securities through the local or foreign stock exchange, capital market consulting, purchase and sale of foreign currency, investment banking, advising and purchase of real estate, mortgage registrations, structures for the issuance of financial instruments, insurance and reinsurance, debt qualification and of financial instruments, deposit and custody of securities, risk centers, issuance of credit cards, registration of ships and vessels, etc.
The offshore jurisdiction constitutes an instrument for persons who wish to plan their financial matters with the purpose to preserve their inheritance, transmit it to their children, maintain privacy or reduce confiscation risks by the government or for any other activity. The key characteristics of the offshore operations are the strict secrecy and privacy. The assets are kept through an instrument in the national territory where they are not subject to taxes in said jurisdiction.
Panama is known as a tax heaven and an offshore service center, specially based on its taxing system based on the territoriality principle.