Country Article / Postcards
Panama Wake Up Call
Date: 05/17/2005Dear International Living Reader,
I haven't done many TV interviews in recent years. When I was a member of the U.S. House, the media considered me to be a master of the 30 second sound/TV bite; always ready with a trenchant comment. So they said.
But yesterday morning I got up before 5:00 AM, not to milk the cows, but to make a fleeting appearance on CNBC's "Wake Up Call," an early morning investment and financial news show, which, frankly, I didn't know existed until now. (I'm up early--but not that early!)
Of course, I was there to talk about tax havens and asset protection. The invitation came because the Sovereign Society is featured prominently in the May issue of WORTH magazine, now on the news stands. (Get a copy. We get quite a spread and it's highly informative about offshore matters).
But during my TV gig the moderator in New York seemed genuinely surprised when I recommended Panama as one of the world's four best all-round offshore haven nations (along with Switzerland, Liechtenstein, and Hong Kong). Once I explained, I think he realized that (as they say in official Panama circles), Panama is more than just a canal.
I patiently explained to my incredulous TV host that Panama has a stable, democratic government, no taxes on foreigners who base their offshore business there, strict financial privacy, strong anti-money laundering laws and, best of all, they don't take orders from Washington any more.
He conceded, as he didn't know all that much about Panama. And I didn't even get to tell him about Panama's programs granting instant residency and tax breaks to foreigners who live and/or retire there.
Panama is an optimistic, prospering nation and the future looks great for its offshore sector and the nation's continued role as a leading tax and asset protection haven. If you want to know more about Panama, why not follow the progress of the International Living and Sovereign Society Premier Offshore Advantage Seminar, starting today in Panama City and running through Saturday. IL will be sending broadcasts from the conference; watch for them in your inbox.
Bob Bauman
For International Living and The Sovereign Society
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