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Originally Posted by DirtyWhiteBoy
1) Panama is very stable for banking.
2) If you US, you can not get out of paying taxes but you can get get a 80k exemption if you live abroad and set it up so you earn "foreign income". ;-)
3) As long as you do not do business IN Panama, you pay no taxes to that government.
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Yea.. Pamama is fine for banking. A good number of international banks are there. Tho, depending, - if you have a corp formation within that jurisdiction, for several reasons, it may be worth considering banking in one or more other jurisdictions :-)
One of the reasons being.. Panama corps normally come with nominee directors and full Power of Attorney to enable *any* type of activity such as opening bank accounts. It is not the business of the nominees where these accounts are, if the exist in the first instance etc. It is better no one, apart from the beneficial owner knows of any bank accounts.
PS.. I'm not saying the nominees can't be trusted :-) They are usually judges or lawyers - but.... the less anyone knows your biz, the better :-)