Excellent Banking System ... Panama City ... RevoluFIN Inc Excellent Banking System
Panama City is home to the second largest international banking centre in the world next to Switzerland. Panama has the most modern and successful international banking centre in Latin America, with more than 150 banks from 35 different countries.
- Approximately 150 international banks are located in Panama. Total assets in Panamanian banks are over US$150 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 full banking license ($3 million for an international license, all of which must be put on deposit with Banco Nacional de Panama – the government owned bank). Other tax haven countries today issue banking licenses with as little as US$500,000 in capitalization. ...
Excellent Communications System
- 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 expired 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 and now has sold out to Spanish giant Telefonica.
- Panama has the best access to multiple high-bandwidth continental fibre 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.