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Many clients moving to Panama want to start taking their first steps in the Panamanian banking system, and they always ask me the same questions. It is for this reason that on this occasion I want to talk about banking products in Panama. The Panamanian banking system does not resemble the South American banking system, nor does it resemble or copy the European banking system nor that of the United States. In Panama we are used to take the best of each country and then make our own version. Over the years Panama created its own banking system which I want to explain in general today. What
With the aim of increasing investment in the country and creating a positive impact to the economy hit due to the Covid-19 pandemic, the Government of Panama has approved the creation of five new free trade zones in the country, generating a combined investment of US$21.9 millions and more than 10,000 jobs. Some of the free zones are investments of Panamanian entrepreneurs and others of foreigners. The new free trade zones authorized will be located in the provinces of Panama, Chiriqui and Herrera. Three of them will be dedicated to agribusiness, with the objective of becoming impor
Some will be familiar with today’s topic: Traveling with Children. In fact, taking a car, especially when the children are young, means carrying more luggage than passenger space in the car. But things don’t get easier when taking an international flight. In the practice, it means that you will need additional legal documents, such as valid passports, certificates, and others to have a pleasant and smooth trip. Traveling with Children: Are there any special documents I should bring? If your child does not have residency in Panama and only enters the country as a tourist there is not much
Now, finally it is a law. Ley 34 de 2 de agosto de 2016 states in the articulo 2 a modification to the articulo 56 of Ley 45 del 2007. This article 2 have the following information very important for you as consumers in the Republic of Panama. Prices in the local commerce should be well written, clear and visible. This is to avoid any error, mistake, confusion of the customer. Customer will only pay the price that is anounced and stated. If for any reason the product has in its label different prices, customer should only pay the lowest price market. Ti