Panama has one of the world’s superior Bank Secrecy Laws along with a solid economy, politics, government and laws, making it the best choice to do private banking.

All the information and documents required by a Bank are needed absolutely for the bank private records; this information is kept totally confidential and can’t be shared with any country or institution. Violation of this confidentiality shall be punishable by fines, inability to practice his occupation and even imprisonment.

Panama does not participate in any tax treaties, nor does it recognize tax related investigations as criminal. As such, Panama will not disclose your financial information for any tax related reasons. Also Panama will not and does not comply with information requests unless the matter is a serious criminal activity.

The Panama Bank Secrecy laws are contained in a number of different legal statues. Being the most important:

• Panamanian Criminal Code
• Cabinet Decree 238 of July 2, 1970 in which the Panama National Banking Commission was formed