Some details of Best Safety Boxes:

1. Security- Our alarm systems have closed circuit surveillance and monitoring servers for 24 hours a day.  We will impose Anti-Kidnapping alarm systems, alarms with motion sensors, impact sensors, glass sensors, and silent alarms with rapid response to government and private security.   We implement the latest technology to provide security to our customers. We carry one of the best security agencies with trained and armed officers. We have fire alarms, smoke detectors, a fire extinguisher system and general insurance to cover all of our facilities.

2. Location- Panama City, Panama
San Francisco, Calle 50, Edif. PH Credicorp Planta Baja Local #2 P.O. Box 0816-06742
Phone- 507 301-0826 or 27-28

3. Box sizes: 3×5: $400, 5×5: $500, 3×10: $700, 5×10: $900, 10×10: $1250 per year. All 24 inches long

The website is: www.bestsafetyboxes.com

Hopefully the website cover´s all of your question, if not feel free to give me a call or come on by.

For another article about offshore storage solutions, follow the link below for the Q Wealth article:

http://www.qwealthreport.com/blog/the-best-safety-deposit-boxes-in-panama-city/

(If you go, please tell them you were referred by Do Business In Panama.)

The Republic of Panama is consistently near the top of the list of countries with the best access to capital. The latest Milken Institute ‘Capital Access Index” published in 2008 looked at one hundred twenty-two countries worldwide. The Researchers gathered information from seven essential elements that facilitate access to capital. These extremely smart people then used 56 different variables drawn from these sectors to generate the index. The maximum index achieved was Canada (7.90). Panama’s index was 5.56, which ranked it in 38th position, placing it ahead of all of the BRIC economies.

This result should not surprise anyone. The Republic of Panama is a great place to do business, just as it has been for decades. I live here and I have the experience of doing business here every day. It’s a wonderful experience. This is a nation that does business on an international scale and accommodates the wants and needs of international businessmen. Panama has always respected the entrepreneur and the go-getter. Great places to do business attract investors who want to do business there. I know that sentence sounds like circular logic, but self-reinforcing phenomena often seem that way.

Panama has also been consistently ranked amongst the world’s freest economies with an open door policy for foreign investment that provides important incentives to business. In 2007, Panama attracted $6.2 billion in foreign direct investment… from the U.S. alone, says the Office of U.S. Trade Representative. Enactment of Law 41 in August of 2007 has made investment in Panama an even more attractive proposition. Through the first quarter of 2008, 15 companies had taken advantage of the benefits offered under Law 41. I see no reason why this trend would not continue.

The success of Panama as a place to do business is no accident. All the key elements are here – A stable constitutional government, an economy based on the U.S. dollar, low inflation, no foreign exchange restrictions, equal treatment of foreign and local citizens, and a favorable tax system. The workforce is literate (91.9% literacy) and largely bilingual / multilingual.

Panama has Free Trade Agreements with the United States, Europe, Asia and Latin America countries, and is a member of the World Trade Organization (WTO). Panama is active in the Caribbean Basin Initiative. The Economic Commission for Latin America and the Caribbean, the Organization of American States, and the Interamerican Development Bank have given Panama positive ratings. Panamanian government bonds are consistently graded B+ or higher by Standard & Poors ratings service.

The Republic of Panama does not simply rely on its strategic location, privacy haven reputation, and low cost of living to attract foreign investment. While the various political parties have their differences, they all recognize the goose that laid the golden egg is business. The Colon Free Zone and City of Knowledge initiatives, as well as Law 41, are major efforts to ensure that corporations of all sizes will find Panama an attractive place to do business for many more years into the future.

Panama has international credibility. It’s easy to make a statement like that and then talk about all the qualities of a place in glowing terms and not really make any specific quantitative claims that can be pinned down. But the proof is on the pudding, or rather in the evidence. In the case of the Republic of Panama, it is easy to make the claim and easy to back it up.

One of the things that I think speaks volumes to this idea is the consistent inflow of foreign investment capital. In another of my articles, I discuss the details of how and why foreign capital flows into Panama. I think an investment of $6.2B (US) by U.S. companies alone in 2007 is strong proof of credibility.

Mercer Multinational Consultants reported on quality of life and personal safety in 215 cities worldwide. Panama City, the national capital, was ranked 96th, which places it above all other Central American cities. Mercer created these ranking by analyzing social, political and economic environment, health, education and transportation factors for each city.

A major consideration in making the choice to do business in Panama is quality of life. Panama City is cosmopolitan and offers excellent living conditions. Office, commercial, industrial and housing spaces are available, as are skilled, multilingual employees. Panama City is 5th in Latin America behind San Juan, Montevideo, Buenos Aires and Santiago de Chile. Panama City is first in Central America, 12 places above San Jose, Costa Rica.

With an index of 91.4, Panama City is the third safest city in Latin America, only behind San Juan, Puerto Rico and Santo Domingo, Dominican Republic according to a report by International Scope.

With an 8% increase in GDP, Panama was the leader in economic growth in Latin America during 2008. Much of this due to the fact that Panama has a US dollar-based economy, low inflation and little foreign exchange risk, an absence of exchange controls, favorable and equal tax treatment of foreign and local citizens.

Panama has a stable Constitutional government with a keen understanding of its reliance on international trade. The Economic Freedom Index for 2009, a joint publication of The Heritage Foundation and the Wall Street Journal, ranked Panama 55th of 157 countries. Citizens and expatriates alike have freedom to make their own decisions for their benefit and for the benefit of their families.

You may argue that some of these are not indications of ‘credibility’ per se, but they are certainly evidence that something special is going on here in Panama; something worthy of international attention. Something worthy of your attention.

When someone thinks of Panama, the first two things that come to mind are the Canal and ‘tax haven’ – usually in that order.  Yes, there is a huge canal here.  Yes, the Republic of Panama is a ‘privacy haven.’  But, that’s NOT all there is to Panama.

There are many other advantages to doing business here.  Panama’s location made it a strategic transportation link in the Spanish Empire’s effort to ship gold and resources to Madrid.  Panama, and Panama City, were established from the very beginning for the purpose of doing business on a global scale.  That heritage remains.  And despite being a modern city, Panama City has managed to retain its charm and ease of living.

A building boom over the past few years has kept prices down.  Panama City is inexpensive when compared to other cities of the same caliber.  Don’t be fooled – inexpensive doesn’t mean that you sacrifice your quality of life.  Panama does business on an international scale and accommodates the wants and needs of international businessmen, who tend to be fast-paced.  At the same, Panama offers beautiful beaches, a temperate climate, great restaurants.  High quality downtime; a little bit of ‘la dolce vita.’  What good is working hard, and what good are wealth protection strategies, if you don’t take the time to savor the fruits of your wealth?  You have an amazing range of choices here and the freedom of choice.

The government is stable and has a new President, Ricardo Martinelli, elected on an anti-corruption platform.  Martinelli, who will be in office until 2014, is a businessman, so the pro-business attitudes will remain.  Even in the worst of times, Panama has never suppressed its citizens or instituted currency controls.  There were periods of corruption, but there has never been oppression.  Panama has its own currency, but the U.S. dollar is the business currency.

Panama has well developed international trade and banking systems.  These two sectors depend on technology.  Panama has one of the finest telecom systems outside of the U.S. or Europe.  Five major global fiber optic networks cross Panama and provide international access.  Panama City, which is overlaid with several fiber optic networks, is a world-class mission-critical data and hosting center. This business segment continues to grow as foreign companies take advantage of this infrastructure.  Panama is a gateway to Central and South American markets.

Panamanian leaders recognized that the same strategic location that made it an important water transport link also gave it a competitive advantage in air transportation and logistics.  One of the best things about doing business here is the ease and comfort of travel.  Panama City is a great place to live and I enjoy living here, but sometimes travel is necessary.

The national air carrier, Copa Airlines, flies Boeing 737’s to 40 major cities daily and was named Best Airline in Central America in 4 of the last 5 years.  Copa has an outstanding order to purchase 21 new jets over the coming years.  Over the last decade, Tocumen International Airport has been transformed through the ‘Hub of the Americas’ project.  Copa’s partner KLM-Air France flies direct from Amsterdam, complementing Iberian Airway’s daily flights from Madrid.  Tocumen Airport is a great airport if you are coming here to do business, or if you are just looking for convenient connecting flights within the region.
Undoubtedly, Panama is a great base for business and banking, and for gracious expatriate living.  And with a little planning, that gracious living, la dolce vita, can be tax free.

Corporations are always searching for great opportunities. Panama has been a great opportunity for decades; global Fortune 500 companies – Coca Cola, Sony, HSBC, Nestlé, Roche – all know this.  Where they go, others follow.  Foreign investment capital inflow continues as potential becomes reality, and reality becomes profit.

The Republic of Panama stands apart from other Latin American countries.  The Economic Liberty Index for 2007 ranks Panama 47th of 157 countries.  A major consideration in making the choice to do business in Panama is quality of life.  Panama City is cosmopolitan and offers excellent living conditions. Office, commercial, industrial and housing spaces are available, as are skilled, multilingual employees.

Some of the key attributes of Panama are: a stable government; a dollar-based economy, without currency exchange restrictions; the Canal and the Colon Free Trade Zone; an international financial center with a well-developed infrastructure including a top notch telecommunications system; an excellent legal framework that allows 100% foreign owned investments; a strategic location with access to the entire western hemisphere.

The U.S. – Panama Free Trade Agreement (2007) passed the Panamanian legislature and is awaiting U.S. approval.  Its purpose is to provide legal security for business, trade and investments between both countries, and increase opportunities available to investors from the United States.  Law 41 (2007), based on successful models in Switzerland and Singapore, was passed with the intent to ensure that Panama becomes an attractive center for multinational firms.  Benefits given to multinational companies establishing their headquarters in Panama include tax exemptions, and special labor and migration status, with simplified and streamlined visa, residence and work permit requirements.  There are already special considerations for industrial parks, call centers, and ecommerce to facilitate trade and investment.

Income tax laws permit taxation only on income generated from trade entirely within Panama.  Foreign source income, generated outside Panama, is 100% exempted. Income from the following activities is not considered domestic activity within the territory of the Republic of Panama, and is specifically exempted from taxation:

-Invoicing, from an office established in Panama.

-The resale of merchandise or products for an amount greater than had previously been invoiced against the office in Panama, provided the goods transit solely outside Panama.

-Directing transactions that are executed, completed, or effected outside Panama.

-Distributing dividends or participations from the tax exempt activities.

A corporate regional headquarters with offices and employees based in Panama does not pay any income tax, if the office merely directs operations from Panama; that is, it performs only international operations from Panamanian territory.

For manufacturing or assembly operations, the existing law for Export Processing Zones designates them as 100% tax-free areas. Both the developer and the export item will be 100% exempted from national direct and indirect taxes, duties, levies, right and charges.

It is plain to see that there are tremendous benefits to doing business in Panama.

In Panama, anonymous ownership of offshore corporations is still allowed, by means of bearer shares. Bearer shares are now prohibited in the majority offshore/IBC financial centers. So this excellent financial privacy tool helps to keep Panama as a premier offshore business and banking center.

However, with Panama corporations, officers and directors (President, Secretary and Treasurer) are  listed on public record at the Panama Public Registry. Anyone with an internet connection who understands a little Spanish can check information online.

In Panama, to preserve financial privacy there is therefore a decades old tradition of  bearer share corporations using so-called nominee directors to provide an additional layer of asset protection to the Panama corporation’s beneficial owners. A nominee director is passive in nature, simply receiving an honorarium for renting his or her name. Usually, nominees are employees of the law firm involved in the incorporation of the Panama company. The beneficial owner remains in control by means of a private Power of Attorney.

Sometimes, a professional Panamanian director rather than a nominee may be appointed. A professional director differs from a nominee in that he or she has greater control over day-to-day operations (for example, having signatory power over the offshore corporate bank account), but the beneficial owner is still ultimately  responsible for running of the company.

To ensure and guarantee safety of a nominee director the beneficial owner and a nominee director may wish to sign a director indemnity agreement or letter. Typically the nominee director will sign an undated resignation letter, which the beneficial owner may execute at any time he wishes, thereby appointing a new director and registering the new director, whether nominee or otherwise, at the Public Registry.

Being a nominee director is a respectable, if not particularly well paid, profession. The main point of it is to preserve the personal and financial privacy of individuals who would rather not disclose their interest or association with a given corporate body. Additionally, it enables clients to maintain their Panama corporations in full compliance with Panamanian law, while at the same time to protect the identities of the persons actually controlling the company. Our firm is happy to provide both nominee and professional director service for all offshore Panama corporations we incorporate. Please contact us for further details.