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Panama Business
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Panama,
unlike any other Latin has permission to use US dollars as its
currency.
The Investment Stability Law of 1998 guarantees both foreign and national investors
alike, equal rights to investments and business practices. This allows Panama to
provide an environment for foreign investing which requires no special authorizations,
permits, or prior registration.
The law also provides a 10 year guarantee for investments that tax, customs, municipal,
labor and legal rules will remain the same as those at the time of registration. This
secures that no-changes will affect the amortization of investments. Currently more
than 2 billion dollars worth of projects have been registered under this legislation.
The Colon Free Trade Zone of Panama is the largest in the Western Hemisphere and the
second largest in the world. It was created in 1948, and houses 1,751 merchants,
receives more than 250,000 visitors yearly and exports more than 11 billion dollars
annually.
Investment opportunities in Panama range from Real Estate Development, Tourism, Colon
Free Trade Zone projects (ship and port services, cruise ship tourism, future canal
construction), Telecommunications, Ecommerce, Petroleum Free Zones, and mining
exploration.
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