Panama City, Republic of Panama (PRWEB) May 2, 2008
"The move to offices on the 18th Floor of the Global Bank building was a logical expansion in line with our current business profile", said a spokesperson for the company. "In light of recent developments in Europe we are seeing an increase in interest in Panama and Guatemala as offshore tax havens. Our privacy laws and trust arrangements are becoming increasingly popular as an alternative to the more well known tax havens such as Switzerland and Monaco and we are expanding into the new suite of offices at Global bank to accommodate the increase in business."
The resurgence in offshore company formation in Panama has been attributed to the tightening of regulation across the European Union and fears following the theft of private client details from a Liechtenstein Bank, allegedly sold to the German government.
Panama is no stranger to Offshore Corporations and once held more companies on its register than all of the Caribbean tax Havens combined. Business suffered in the 1980's due to political uncertainty, but following a sustained period of stability and economic growth, Panama, has once again started to see a vibrant return to offshore banking and corporate asset protection business.
A senior partner at the firm strongly believes that the resurgence in Panama as a leader in offshore products will continue.
"We offer privacy to our clients on a scale that is no longer achievable in many of the established offshore jurisdictions. This combined with a flexible product range and modern banking system means that Panama is set to become a permanent fixture for companies wishing to do business privately and securely."