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Panama City

Panama is the largest international banking center in the world next to Switzerland. Approximately 150 international banks are located in Panama. Total assets in Panamanian banks are over US$100 billion.

· Panama offers a modern and technologically advanced banking system.

· Panama is one of the most stable banking jurisdictions in the world. Panamanian laws require over US$15 million in proven capitalization just to apply for a banking license. Other tax haven countries issue banking licenses with as little as US$50,000 in capitalization.

· There has not been a bank failure in Panama in over 5 years. Only a few banks have failed in Panamanian banking history. Switzerland had 5 bank failures just in 1999 - 2000, not to mention other tax haven's bank failure rates.

· The Panamanian government has enacted strict bank auditing guidelines, to monitor banking practices, credit guidelines, and overall bank administration. Each bank must submit monthly auditing reports to Panama's Banking Superintendence, which is under direct supervision by the Banco Nacional de Panama (BNP).

· The Panamanian banking system is set up to ensure depositors the security of their deposits, similar to the US banking system. The National Banking Commission (NBC) and the Banco Nacional de Panama (BNP) execute the functions of a central clearing bank. The NBC oversees the banking system, sets the reserve requirements and regulates interest rates. The BNP functions as the Panamanian governments principal depository, manages the country's international reserves and is the clearing-house for the banking system.

· Panama's new comprehensive banking law (Decree No. 9) meets the standards of leading financial centers around the world for transparency and regulation, and conforms to the statutes of the Basle Commission.

· Some of the banks present in Panama's banking center are: Citibank, HSBC, Dresdner Bank, Bank of Tokyo, Bank of Boston, Banco Nacional de Paris, International Commercial Bank of China, Societe Generale, Banque Sudameris, BBVA, Banco Uno, Banco General, PriBanco, Banco del Istmo, Global Bank, MultiCredit Bank, PanaBank, ABN Amro, Banco Aliado, Banco Continental, BancoLat, BIPAN, Lloyds TLB Bank, Bank of Nova Scotia, and much more.

· The Panama Stock Exchange is the fastest growing in the region with an average total trading volume of US$900 million.

· Some of the brokerage firms present in Panama are (some through affiliates): Merrill Lynch, Pershing / DLJ, Paine Webber, Solomon Smith Barney, Bear Stearns, etc.

8. Panama's communications systems and infrastructure are the equivalent of any first world country such as the USA, Canada, or the United Kingdom. Telephone, fax, internet, and cellular communications are all offered in Panama by the worlds largest communications companies.

· Panama has the highest level of communications infrastructure for telephone, fax, internet, and cellular communications in all of Central & South America, including the Caribbean.

· Panama's privatization efforts in the telecommunications sector were initiated in 1995, with the restructuring of the state-owned monopoly operator, INTEL, the subsequent concession to Bell South in 1995 to operate one of the two (2) cellular mobile telephone licenses and the sale of 49% of the shares of INTEL to Cable & Wireless (a UK company) in 1997.

· Cable & Wireless enjoys complete management responsibility, exclusivity in certain telephone services (including international long distance services) for a period of five years (which will expire in 2003) and has a license to operate in the mobile cellular communications sector. Bell South has the second largest share in the mobile cellular communications sector.

· Panama has the best access to multiple high-bandwidth continental fiber optic networks in telecommunications infrastructure. The extremely low risk of natural disasters (hurricanes etc.), gives the Panama telecom sector security and reliability of service as well as a competitive advantage over other offshore jurisdictions.

· Panama is extremely easy to access from almost anywhere, due to its central location in the middle of the Americas. Its proximity to large cities in the US and Europe makes it relatively cost effective to bring in specialist know-how for installation and maintenance.

· Panama's long history as an international banking and services jurisdiction, has resulted in the availability of technical know-how in internet technology and information technology as well as sufficient human resources to install and maintain e­commerce operations. The MAYA-1 and ARCOS-1 ring systems link the continental Americas and the Caribbean Basin, which was completed in December of 2000.

· All the preceding advantages, incentives and infrastructure place Panama as an ideal location for: Internet Service Providers, E-Commerce Providers, Applications Outsourcing ASP, Broadband Content Providers, New Media Content Providers, and Exchange Traffic.

9. Panama's official language is Spanish, however, English is the second most widely spoken language. 8 out of 10 Panamanians living within the banking sector of Panama City are bi-lingual in English and Spanish.

· English is a widely spoken language in Panama.

· 9 out of 10 educated Panamanians have traveled to the USA.

· Panama has a very high literacy rate in comparison with other Central and South American countries.

10. The Republic of Panama is located at the narrowest point of the Central American Isthmus, which connects the continents of North and South America. It is just 2.5 hours by air from Miami, FL, USA and located in the same time zone as the U.S. East Coast (five hours behind Greenwich Mean Time).

· Panama is located between Costa Rica & Colombia.

· Panama is on Eastern Standard Time (same as New York, USA).

· Panama is just 2.5 hours away by air from Miami, Florida, USA.

Panama is the ideal jurisdiction for international investors and businessmen to operate their offshore corporations, banking, investing, finances, and all other areas of international trade!

Take the next step to financial freedom, and incorporate in Panama Today!

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Tel (Panama): ++ (507) 227-6645
Fax (Panama): ++(507) 227 7485
Toll Free Voicemail / Fax (USA): 1-800-716-3452

Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).

Email: info@p-wos.com
Encrypted Email: posinc@hushmail.com

P-WOS, Inc.
PTY 296, PO Box 0832 - 2745, WTC
Panama City, Republic of Panama