As a Law Firm in Panama, we are seeing an increasing number of
entrepreneurs in online or internet businesses, such as developers
of software and applications for mobile platforms or simply
individuals that work out of their laptops and keep moving around
the world doing business and retirees that are looking for a
solution in order to keep their financial privacy and/or simply
gain protection of the assets they accumulate and flexibility to do
business.
However, individuals looking for solutions may be misled by
those marketing, quite aggressively, Permanent Residence and Second
Citizenships as a way to escape the Automatic Exchange of
Information. Dubai, Dominica, Grenada, St. Lucia, among others,
offer great programs, but gaining residence, from an Immigration
point of view, will not be sufficient in light of the OECD's
closing loopholes and forcing countries and subsequently Banks, to
do more due diligence on their clients to determine where is a
client tax
