Panama

Panama is located right in the middle of the Americas, a strategic location for world commerce.

3,242,173.

30,193 square miles

Spanish, however, many Panamanians are bilingual English/Spanish.

GMT-5.

Every purchase in Panama is charged with 5% Tax called Tax on the Transfer of Goods (ITBM), except drugs, food and school supplies.

The official currency is the Balboa. However, circulating paper currency is the US Dollar.

Panama’s climate is pleasantly tropical and temperature is usually uniform through the whole year. Nights are generally cool. The average temperature is 27°C. The country has two seasons: rainy and dry season.

There are several outstanding and very attractive factors for business people, such as the Panama Canal, the Colon Free Zone, the Panama Canal Authority, Processing Zones, therefore the investor finds unique advantages for investment in our country.

More than 93% are Catholics. The National Constitution establishes that "the profession of all religions as well as exercise of all cults, without any other limitation than the respect to the Christian morality and public order, is free".

Based on the civil law system, judicial revision of legislative acts on the supreme court of Justice; accepts jurisdiction of international courts, with certain restrictions.