Panama Business, Taxation and Offshore Information
Panama Is An Independent Country With A Canal
The Republic of Panama, between Colombia and Costa Rica, has a population of just over 3.5m and a land area of 76,000 sq km. The climate is tropical. Panama is a sovereign democracy with a presidential style of government. A pro-business government fell from power in 1999 and a new president, Mireya Moscoso made populist promises. However, in May, 2004, Martin Torrijos (son of Omar Torrijos, who ruled Panama between 1968 and 1981) was elected President. After losing the presidential battle in 1999, Torrijos assumed leadership of his father's party, sought to reform it, and created a platform based on combating corruption, boosting employment, and reforming Panama's fiscal system. The pro-business Ricardo Martinelli has been President since July 2009.