International Banking Center
 

The principal characteristic of the Panamanian economy constitutes it his monetary and bank system. Both are narrowly interlaced, constitute the keystone of the macroeconomic stability that has enjoyed Panama throughout last decades. The monetary Panamanian system rests in the use of the dollar of the United States of America as currency of current course; our currency, the Balboa expresses like fractional currency and serves as account unit for the national economy.
Panama has developed in the last years as an important bank international center. There exist several advantages that they have contributed to his development; some of them have been current for many years, such as:

» The absence of control panel of change on the entry and capital exit.
» A central bank does not exist.
» The free circulation of the North American dollar as legal tender.
» The beginning of territoriality in the taxation and his strict interpretation for the administrative authorities and in the courts across the years.
» The interests earned in bank deposits in Panama are free of taxes.
» The existence of a big number of foreign companies that operate in Panama.
» The protection and confidentiality that is offered to the depositors.
» The existence of coded accounts.
» The development of the Zone Frees of Columbus.
» The promulgation of bank special laws that stimulate his development. 

The Republic of Panama

Population: 3,242.173

Official language: Spanish

Religions: Catholics 85%, Protestant 15 %

Type of Government: Constitutional democracy

It coins: the Balboa (Balboa); 1 balboa = 100 hundredth ones. The American dollar circulates freely being the valuation of change 1 Balboa = 1 Dollar.

Taxes: Any buy in Panama is burdened by 5 % of Tax of Transference of Goods Furniture (ITBM), excepting of this measurement the medicines, the food.

Climate: The climate of Panama is pleasantly tropical and the temperature is usually uniform throughout the whole year. The average of the temperature is of 27°C. The country has two stations: rainy and dry.

Population (I register 1990): 2,418, 000

Population density: 81 for square mile

Border: Place Central America, his limits are the Caribbean sea and the Pacific Ocean and one finds between Colombia and Costa Rica area of 78,200 square km.
Minimal and maximum elevation rock bottom: Pacific Ocean point higher Volcano Barú Province of Chiriquí 3,475 m

Political division: 9 provinces and 1 region *; Mouths of the Bull, Chiriquí, Coclé, Columbus, Darién, Blacksmith, Saint, Panama, San Blas *, Entire Veraguas Area: 78,200 square km (30,193 square miles)

Area of Earth: 75,990 square km (29,340 square miles)
Panama forms a terrestrial bridge that joins North and South America. In his narrowest alone point 80 kilometers separate the Atlantic Ocean of the Pacific Ocean, granting him to Panama the strategic position for the construction of the Canal of Panama.