The economy of Panama is based on a very well developed service sector, the core of the service sector is the Banking, the Panama Canal, the Colon Free Zone, the insurance, container ports, flagship Registry, medical and health, Legal Services, growing Real Estate market, an others.
The fact is that Panama is a growing economy and the main advice for the new investor is to keep an open mind, be aware of the opportunities that usually are hidden behind challenges and work to blend in to the Panamanian business culture.
As a matter of references, the Gross Domestic Product (GDP) of 2007 to 2014 has been an average of 10.1%, positioning Panama as the fastest growing economy in LATAM.
We are open, we are open to other nationalities, we are open to new business, we are open to new ways to do business we are a very international, open minded people.
Panamá is in the unusual positon of having a substantial financial services sector being a dollarized economy.
Panama is a territorial basis taxation country, so taxes apply only to income or gains derived through business carried on in Panama Itself.
So be brave and explore Panamá.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.