Why Panama?
During the last decade Panama has emerged as one of the leading countries to do business in Central America. It has built a robust economy based on the US dollar, a stable government, and is enhancing its global and regional prominence through trade liberalisation and privatisation. Panama’s government is also participating actively in the movement towards free trade agreements.
Thanks to the Panama Canal, this country is one of the world’s most important trading bases. Historically, Panama has served as the crossroads of trade for the Americas. It’s not only a maritime and air transport hub, but also an international trading, banking and services centre.
Panama’s modern banking facilities have led to more than 80 national and international banks operating in the country – not surprising considering this is a leading offshore hub for the world’s businesses.
Our core areas of expertise
Entering a market presents significant challenges and risks. TMF Group has the local experience and knowledge to help you with this process. TMF Group has a solid core of local experts in Panama assisting local and international clients, providing financial, legal, HR and payroll services across the country. We can get you set up, provide a single point of contact and take care of those non-core elements that keep your business moving.
Our full range of services include:
- Accounting and Tax services: We take care of local statutory bookkeeping, full consolidated accounts and management reporting to relevant local and international standards. We also help you manage your tax and reporting obligations.
- Consultancy solutions: A flexible service allowing companies to deal with complexities created by expansion into new countries or growth in existing overseas locations.
- Corporate Secretarial services: We can take care of recurring compliance filings, manage routine corporate changes and retrieve any official corporate documents from official registries.
- Governance services: We help you stay compliant, manage your risk and regulatory obligations, including your local legal requirements for Common Reporting Standard (CRS), Foreign Account Tax Compliance Act (FATCA), Know Your Customer (KYC), CbCr notification, Master File / Local File and Ultimate Beneficial Owner (UBO) register.
- HR and Payroll services: We help you to apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.
*Availability of our global portfolio is country dependent.