8 Countries That Take Bank Secrecy Seriously
By Bob Bauman


Down through history, whenever a major war or other calamity has threatened, ever-greater hoards of foreign cash have flowed into Swiss bank accounts because the world knows Switzerland traditionally stands for safety.

With the U.S. Internal Revenue Service claiming worldwide powers, it’s certainly no longer easy for Americans to open a Swiss or other offshore bank account.


But the list of friendly offshore bankers, even for Americans, is longer than you might think. And accounts in selected offshore financial centers offer everyone what U.S., U.K, French and German banks no longer can guarantee—much stronger asset protection and greatly increased banking privacy.


For Americans, a foreign account also provides a choice of stronger non-dollar currencies, plus a means for direct trading and investing in more profitable foreign equities, precious metals and tax-deferred insurance and annuities.


The Swiss banker won’t roll out as warm a welcome to Americans as he once did—but Switzerland is still on a short list of places that every American should consider investigating for banking advantages.

That is so because, even with all the post-UBS tax-evasion scandal fallout, Switzerland still has one of the strongest bank-secrecy laws anywhere, even when dealing with the U.S. government. If anything, all their recent troubles and the attendant publicity have made Swiss bankers more aware of obligations to clients and protective of clients’ rights.


Other banking countries that make my short list and should be on yours are: Liechtenstein, Denmark, Austria, Singapore, Hong Kong, Panama and Uruguay.


Each of these countries’ banks has a different level of protection and different requirements for clients. While in general banks in each country are wary of U.S. clients because of the demands of high-handed U.S. laws such as the Foreign Account Tax Compliance Act (FATCA), selected banks there often are willing to open trust or corporate accounts controlled by Americans.


But be ready to comply with now-universal “know your customer” rules requiring proof of citizenship and current residence, as well as signing IRS Form W-9 allowing the bank to confirm your taxpayer identifications number (TIN) and notify the IRS of payments to you.


The 1934 Swiss Bank Secrecy Law, still in effect, was a direct response to the rise of Hitler and the threat of war.

Seventy-eight years later, savvy Argentines are escaping that country’s ruinous policies by banking in neighboring Uruguay, and Putin’s beleaguered Russian business people are pouring billions of rubles into banks in far more friendly Cyprus.


History proves my point: an offshore account can serve as your personal shield against oppressive government, stifling regulations and declining currencies.


Editor’s note: America was built on the principles of freedom—and that includes the right to be financially free. Bob Bauman is one of the experts who contributed to the Safe Haven Strategies to Reduce Your Taxes, Preserve Your Privacy, and Reclaim Your Freedom Overseas report. Get your copy here.


Panama is starting to look like the Dubai of the Americas and it is often compared with that famous city. This project joins the Biomusio in Amador which was designed by Frank Gehry and is scheduled to open next year.

The new convention center, which represents an investment of 149 million euros, seeks to place Panama as the best choice for business events in Latin America. During 2011, the Central American country hosted 66 international conferences and expects to close 2012 with a total of 126.


The facility, whose opening is scheduled for 2014 and will be implemented by the HPC-Contractors consortium, composed of Panamanian capital, Spanish, Puerto Rican and.


Located near the Panama Canal and Diversity Biomuseo, the complex of 57 thousand square meters has 16 meeting rooms, a theater for 1947 people and an amphitheater for 2,000 people. In addition to the exhibition hall of 15,000 m2, will have a restaurant and a multipurpose room with about 4,000 m2.


Deputy Minister of Tourism, Ernesto Orillac, during EIBTM, Barcelona reported that Panama will receive at least 40,000 visitors to participate in over 15 events worldwide over the next two years.


One such event, the Ironman sports tournament Panama, involve the arrival of 2,000 visitors in February 2013. By May of next year is expected to meet World Missionary Movement congregate about 15,000 people across the Americas.


Among its projections, the Tourism Authority of Panama (ATP) is proposed to generate nearly 400,000 room nights in late 2014 and also obtain an acceleration of tourism growth of 12% to 15%, as explained Orillac.

In 2011, Panama hosted 66 conferences and plans to reach 126 events and 120,000 room nights in 2012. The realization of these meetings provided 90,000 nights of hotel in 2011, the official said.


Currently, the country canal has over 600 hotel facilities with a total of 23,500 seats. International hotel chains have invested in housing infrastructure in recent years, and in the period 2012-2013 is expected to open 50 stores.

In 2011, Panama received 2 million international visitors with revenues of EUR 2,000 million. The ATP believes that 2012 will close with 2.2 million visitors.


The new convention center is part of a solid investment process, as well as hotels of famous brands and works as Biomuseo, opening in 2013, including major infrastructure additions such as the metro, the Panama Canal expansion and a new terminal at Tocumen airport, which handled more than six million passengers in 2011.


Thomas H. Brymer II


Upon the suggestion of a relative, I made the trip out to Bala Beach Resort the other day to see just what it had going on.  I have heard that in the preconstruction sales phase back in 2006 - 2008, there were many North Americans snapping up the nicely sized units on the Caribbean side of the ithsmus.


This is true.  The first phase, consisting of two buildings, is almost completely sold out, and titles are finally being legalized, and deals are being closed.  More on that later.


First, I want to say that the experience of being on that side Panama is pleasant.  There was a nice breeze and the sun was shining.  The surf is a little rough, but there are several beaches nearby, including Isla Grande, which is always an nice get-away.  The beach has very nice white sand and is shaded by perfectly spaced palm trees, of course one doesn't need to get ones feet sandy to enjoy the water.  Although only one pool is complete, there are plans for several more.


Driving onto the property, you still get the feeling of construction, and incompletion, but that will come.  I got the feeling of confidence in the developer after speaking with them, that they truly care about the project and want it to be one of the nicest in Panama.  The buildings and the units themselves show that in the quality.  I could see and feel that quality on my tour.  Quality and unique finishes right down to the floor, with a beautiful light brown bamboo.  Open glass views over the grounds, pool, and ocean put me in awe for a moment, and I see a lot of views from a lot of buildings in Panama.


To play devil's advocate, there were a couple things I noticed that may serve to work against sales in the developments though.  The drive from the city is great, quick and easy.  It's when you enter Nuevo Colon and some of the towns heading to the resort along the coast, that you see the extreme poverty of the area, which can bother some people obviously.  Especially after reading all of the government website warnings for tourists to avoid Colon for it's crime.  I haven't mapped the route from the airport, but I would guess a 2 hour drive.  It is exactly one hour from my office in the city.


There has been chatter of a new international airport in Colon as well, so that would cut travel time to about 45 minutes and lend to increasing property values in the area for anyone that cares.


Also, the white sand is trucked in, so it will have to be replenished from time to time as the ocean will most certainly carry it away.  The surf is large, the water fairly rough, but shallow.  All in all, a decent beach.


The finishing touches are being completed on phase one right now as excited owners get ready to take possesion of their vacation spaces in paradise.  Here's the thing though.  The economy took quite a hit after the presales frenzy on this complex.  The developer has informed me that there are deals to be had, as not everyone was able to close, and with the second phase selling, there are deals to be had there as well.  


The bottom line is, I am a believer in this project, and now is going to be the very best time to buy here, as there are deals to be had from people unable to close.  The area is only beginning to see an influx of developers eager to exploit the area's beauty, and the government is only too happy to help by providing the improved ifrastructure necesary to sustain such rapid growth.


You can see pictures, prices, and floor plans in my property listings section.


30 November 2012

PUNTA PACIFICA, Panama -- (PRESS RELEASE) -- Trump Ocean Club(R) International Hotel & Tower Panama is pleased to announce that they have selected Sun International to operate the expansive, on-site casino slated to open mid-year 2014. Helping to further elevate the entertainment experience at the award-winning hotel, the 75,000 square foot casino will be located on the Mezzanine level and will showcase numerous offerings including 32 gaming tables for blackjack, poker, roulette, baccarat, among others, as well as a superior collection of 600 slot machines showcasing numerous diversions for both the amateur and experienced gamer. The casino will also have a fine-dining restaurant and expansive bar & lounge. Enjoying spectacular views of the Pacific Ocean and City, a Salon Prive will be set on the 66th floor for private gaming, which will also include an intimate restaurant and lounge. The 65th floor will reserve private suites for most elite clientele and gaming enthusiasts.

"Trump Panama has quickly established itself as a world-class destination for leisure and business travelers alike offering exceptional service and amenities. The opening of the casino will bring our guest experience to a whole new level," said Mark Stevenson, Vice President & Managing Director of Trump Panama. "We are excited to be working with Sun International, a company that shares our standards of service excellence and superior experiences."

Sun International acquired the space at Trump Panama and rights to operate the casino for $45.5 million. The company plans to invest a total of $60 million to build-out and fully develop the multiple spaces. Based in Johannesburg, South Africa, Sun International is a globally recognized public company that has an impressive portfolio of 27 resorts, luxury hotels and casinos operating in eight countries. The company prides itself on successful leisure group offerings focusing on superior gaming, hotel and entertainment experiences that exceed customer expectations. With Monticello in Chile, Trump Panama will be Sun International's second operation in Latin America.

"Given Trump Panama's icon status, great location and superb brand standards that match our own, we are very confident that upon opening, the casino will attract hundreds of local and foreign visitors annually," says Sun International's Acting GE, Garth Collins.

Having just celebrated its one-year anniversary in July 2012, Trump Panama has become one of the most sought-after hotels in the region. With a resort feel in the heart of the vibrant Panama City, the property attracts thousands of leisure and business travelers, as well as group and incentive travelers from North and South America. Most recently, the property was named the top #2 hotel in Central America by Conde Nast Traveler 2012 Readers' Choice Awards. With the opening of the casino, Trump Panama will further set itself apart as the only hotel of its kind in Latin America.    

Categories:   1 Block from Ocean Real Estate | Albrook Real Estate | Alcazar Real Estate | Altamarina, Playa Dorada Real Estate | Altos del Cerro Azul Real Estate | Altos del Golf Real Estate | Altos del maria real estate | Altos del Maria, Chame Real Estate | Andromeda Hills Real Estate | Andromeda Ocean Estates Real Estate | Andromeda Real Estate | Arenosa Real Estate | Aroma, LaLaguna Real Estate | Ave Balboa Real Estate | Ave Balboa, Bella Vista Real Estate | Ave Balboa, Vista Bella Real Estate | Ave. Balboa, Marbella Real Estate | Avenida Balboa Real Estate | Avenida Balboa, Bella Vista Real Estate | Avenida Balboa, Casco Antiguo Real Estate | Azuero Peninsula Real Estate | AZURA Real Estate | BAHIA Real Estate | Bahia, Playa Serena Real Estate | Bala Beach Resort Real Estate | Bala Beach Resort, Portobelo Real Estate | bank accounts in panama | banking panama | Barco Vento, Punto Barco Real Estate | Bavaria Real Estate | Beach Area Real Estate | beaches & city | Bella Vista Real Estate | Bella Vista, Av Balboa Real Estate | Bella Vista, Panama City Real Estate | Bethania Real Estate | bijao | Bijao Golf & Beach Resort Real Estate | bijao real estate | Black Sand, Coronado Real Estate | Brisas de los Lagos Real Estate | Brisas De Los Lagos, El Arado Real Estate | Brisas de los Lagos, La Chorrera Real Estate | Brisas Los Lagos Real Estate | Buenaventura Real Estate | Buenaventura, Playa Blanca Real Estate | C-Paradise, Playa Coronado Real Estate | cab fares in Panama City | Cabuya, Las Lajas Real Estate | Calle 50 Real Estate | Calle 50, San Francisco Real Estate | Calzada Larga Real Estate | can i live in panama | Canada friendly Panamanian banks | Canal Zone, Ancon Real Estate | Capira Real Estate | Caribbean Coastline, Santa Isabel Real Estate | Caribbean Ocean Front Real Estate | Caribbean Real Estate | Caribbean, Bala Beach Resort Real Estate | Carrasquilla, San Francisco Real Estate | Carribean Real Estate | Casa Bonita, Playa Bonita Real Estate | CASAMAR Real Estate | Casamar, San Carlos Real Estate | Casco Viejo Real Estate | Centinela Real Estate | Cerro Azul Real Estate | Cerro Chichibali, District of Toabre Real Estate | Cerro Viento Real Estate | Chame Real Estate | Chilibre Real Estate | Clayton Real Estate | Club de golf panama | Club de Golf Real Estate | Coco del Mar Real Estate | Coco del Mar, Panama City Real Estate | Coco del Mar, San Francisco Real Estate | Cocoli Tower, Bijao Beach Club & Residences Real Estate | Colon Real Estate | Coloncito, Gorgona Real Estate | Condado Del Rey Real Estate | Corona Del Mar Real Estate | coronado airport | Coronado Area Real Estate | Coronado banks | Coronado Country Club Real Estate | Coronado Country Club, Coronado Real Estate | Coronado Equestrian Club Real Estate | Coronado Escapes Real Estate | Coronado golf | Coronado Golf & Beach Resort, Playa Coronado Real Estate | Coronado Golf Club Real Estate | Coronado Golf Club, Coronado Real Estate | Coronado Golf Club, Playa Coronado Real Estate | Coronado Golf Course Real Estate | Coronado Golf Course, Playa Coronado Real Estate | Coronado Golf Real Estate | Coronado Golf, Chame District Real Estate | Coronado Golf, Playa Coronado Real Estate | Coronado Real Estate | Coronado, Chame Real Estate | Coronado, Panama Real Estate | Coronado, Panama West Real Estate | Coronado, Playa Coronado Real Estate | cost of living in panama | Costa Azul, Costa Del Este Real Estate | Costa blanca panama | Costa Blanca Villas, Royal Decameron Golf & Beach Resort Real Estate | Costa Blanca Villas, Royal Decameron Real Estate | Costa Blanca Villas, Royal Decameron Resort Real Estate | Costa Del Este Real Estate | COSTA DEL ESTE, JUAN DIAZ Real Estate | Costa del Mar, Costa del Este Real Estate | Costa Esmeralda Real Estate | Costa Linda, Costa Sur Real Estate | Costa Verde, El Arado Real Estate | Costa Verde, Los Senderos Real Estate | Decameron Resort Area, Farallon Real Estate | direct flights to panama | District of Penonome Real Estate | District of Toabré Real Estate | Dos Mares Real Estate | Dreamed Paradise Villiage Real Estate | Driving in Panama | Edison Park Real Estate | El Cangrejo Real Estate | El Cangrejo, Bella Vista Real Estate | El Carmen Real Estate | El Carmen, Bella Vista Real Estate | El Carmen, El Cangrejo Real Estate | El Celaje Real Estate | El Dorado Real Estate | El Espino Real Estate | El Fortin, Altos de Cerro Azul Real Estate | El Maranon Real Estate | El Palmar Real Estate | El Torreon Real Estate | El Valle De Anton Real Estate | El Valle Real Estate | El Valle, Las Uvas Real Estate | Eldon Spears | Embassy Club, Clayton Real Estate | everything golf panama | exchange rate panama | expatriation | expenses in panama | Farallon, Playa Blanca Beach Real Estate | Farallon, Playa Blanca Resort Real Estate | Farallon, Playa Santa Clara Real Estate | Fase 1, Club Ecuestre Coronado Real Estate | Fiji, Costa del Este Real Estate | Fontanella del Mar Real Estate | Fontanella Del Mar, San Carlos Real Estate | Fontanella, Los Altos del Maria Real Estate | foreign visas | Founders 2, Playa Blanca Resort Real Estate | Founders 3, Playa Blanca Resort Real Estate | Founders, Playa Blanca Resort Real Estate | free health care panama | Friendly Nations Visa Panama | GAMBOA Real Estate | Global Bank panama | Golden Reef Real Estate | golf courses in panama | golf in panama | golf panama | Gorgona Real Estate | government panama | Hacienda Pacifica Real Estate | Hato Pintado Real Estate | health insurance panama | Horizon Tower Real Estate | Houses for sale in Panama | How do I pay my property taxes in Panama | How much should I pay for a taxi in panama city | How to sell your home in Panama | Howard, Tucan Country Club Real Estate | Ibiza Residences II, Corona Real Estate | Inside Panama Real Estate | Is it expensive to live in panama | Is panama for me? | Isla del Rey Real Estate | Isla Perico, Amador Real Estate | Isla Taboga Real Estate | La Chorrera Real Estate | La Mare Real Estate | La Martillada, Anton Real Estate | La Pintada Real Estate | Lago Bayano Real Estate | Lago Gatun Real Estate | Las Fuentes, El Dorado Real Estate | Las Lajas Real Estate | Las Lajas, Coronado Real Estate | Las Olas, Vista Mar Resort Real Estate | Las Palmas Real Estate | Las Tablas Real Estate | Las Uvas Real Estate | Las Uvas, San Carlos Real Estate | Lidice Real Estate | Living in Panama | Llanos de Medidos Real Estate | Los Altos Cerro Azul Real Estate | Los Altos de Cerro Azul Real Estate | Los Altos de la Estancia, El Valle de Anton Real Estate | Los Balcones, Playa Blanca Real Estate | Los Balcones, Playa Blanca Resort Real Estate | Los Destiladeros Real Estate | Majagual, Arraijan Real Estate | Mantaraya Golf Course, Costa Blanca Villas Real Estate | Marbella Real Estate | Mariabe Real Estate | MARINAZUL Real Estate | mortgages in panama | move to panama | moving to panama | Naiblu Beachfront Residences Real Estate | Near Coronado Real Estate | Near Coronado, Las Lajas Real Estate | Nueva Gorgona Real Estate | Nueva Gorgona, Chame Real Estate | Nuevo Gorgona Real Estate | Obarrio Real Estate | Ocean II, Playa Blanca Resort Real Estate | Ocean Waves, Gorgona Real Estate | Ocean Waves, Playa Gorgona Real Estate | opening a bank account in panama | Pacific Hills Real Estate | Pacific Hills, Dos Mares Real Estate | pana | panama | panama airports | panama banking | panama banks | Panama Beach Towns Real Estate | Panama Beaches Real Estate | panama citizenship | Panama City Real Estate | Panama cpst of living | panama currency | panama driver's license | panama equity | panama for beginners | panama for expats | panama for real | panama golf resorts | panama immigration | Panama made simple | Panama MLS | Panama Pacifico Real Estate | panama passport | panama politics | Panama Property Tax | Panama Property Taxes | panama real estate | panama realtor | Panama relocation | panama residency | panama secrets | panama the inside scoop | panama the real story | panama tips | panama tourism | panama traffic | Panama Tropics | Panama visas | Parita Real Estate | Parque Omar, Carasquilla Real Estate | Parque Omar, San Francisco Real Estate | Patricia Italia, Playa Corona Real Estate | Pedasi Village 2 Real Estate | Penonome Real Estate | pensionado visa panama | Perlamar, Casamar Real Estate | permanent residence panama | PH Bahia, Playa Gorgona Real Estate | PH Bala Beach Resort Real Estate | PH Brisas de Los Lagos Real Estate | PH Embassy Club, Clayton Real Estate | PH Founders, Playa Blanca Resort Real Estate | PH Ibiza Ocean View, Playa Corona Real Estate | PH Jardines Del Rompio Real Estate | PH Napa Village, Playa Blanca Resort Real Estate | PH Torres De Las Americas, San Fransisco Real Estate | PH Town Center, Playa Blanca Resort Real Estate | PH Yacht Club, Avenida Balboa Real Estate | Phase 1, Punta Barco Real Estate | Playa Blanca Lagoon, Playa Blanca Resort Real Estate | Playa Blanca Real Estate | Playa Blanca Resort Real Estate | Playa Blanca Resort, Playa Blanca Real Estate | Playa Blanca Resort, Rio Hato Real Estate | Playa Blanca, Farallon Real Estate | Playa Blanca, Rio Hato Real Estate | Playa Bonita Real Estate | Playa Bonita Residences, Veracruz Real Estate | Playa Bonita, Howard Real Estate | Playa Bonita, Veracruz Real Estate | Playa Chame, Chame Real Estate | Playa Corona Real Estate | Playa Corona, San Carlos Real Estate | Playa Coronado Real Estate | Playa Coronado, Coronado Golf and Beach Resort Real Estate | Playa Coronado, Coronado Golf Club Real Estate | Playa Coronado, Coronado Golf Course Real Estate | Playa Coronado, Coronado Real Estate | Playa del Sol Real Estate | Playa Dorada Real Estate | Playa El Uverito, Las Tablas Real Estate | Playa Farallon Real Estate | Playa Gorgona Real Estate | Playa Gorgona, Nueva Gorgona Real Estate | Playa Malibu Real Estate | Playa Malibu, Gorgona Real Estate | Playa Malibu, Nueva Gorgona Real Estate | Playa Mar, Playa Dorada Real Estate | Playa Rio Mar, San Carlos Real Estate | Playa San Lorenzo, Rio Fonseca Real Estate | Playa Serena Real Estate | Playa Serena, Playa Gorgona Real Estate | political atmosphere panama | Portobelo Hills Real Estate | prices in panama | Property Tax Panama | Property Tax Rates in Panama | Pueblo Nuevo Real Estate | PUNTA BARCO Real Estate | Punta Barco Village, Punta Barco Real Estate | Punta Caelo Real Estate | Punta Chame Real Estate | Punta Pacifica Real Estate | Punta Pacifica, San Francisco Real Estate | Punta Pacifica., Panama City Real Estate | Punta Paitilla Real Estate | Punta Paitilla, San Francisco Real Estate | Punta Paraiso Real Estate | Punta Rocas Real Estate | real estate | Real estate agents in Panama | real estate companies in panama | Real Estate for Canadians | real estate in the republic of panama | real estate market in panama | real estate panama | Real Estate Taxes in Panama | real estate values panama | remax | remax panama | republic of panama | retiring in panama | rich novak | Rio Grande Real Estate | Rio Grande, Penonome Real Estate | Rio Hato, Royal Decameron Beach Real Estate | Rio Mar Real Estate | Rio Mar, San Carlos Real Estate | Riomar - The Pacific Real Estate | Riomar Real Estate | Road to El Valle Real Estate | Road to El Valle, El Valle Real Estate | Royal Decameron Resort panama | Royal Decameron Resort Real Estate | Royal Decameron Resort, Costa Blanca Villas Real Estate | Royal Decameron Resort, Farallon Real Estate | Royal Decameron, Costa Blanca Villas Real Estate | Royal Palm, Gorgona Real Estate | Sajalices Real Estate | Salud Real Estate | San Carlos Real Estate | San Francisco Real Estate | San Franciso Real Estate | San Miguel, Condado del Rey Real Estate | Sand Piper Real Estate | Santa Catalina Real Estate | Santa Clara Real Estate | Santa Clara Real Estate | Santa Fe De Lajas, Las Lajas Real Estate | Santa Maria Golf & Country Club Real Estate | Santa Maria Golf & Country Club, Costa del Este Real Estate | Santa Maria Golf, Costa del Este Real Estate | Santa Maria Real Estate | Scarlett Martinez International Airport | Selling your home in Panama | semusa | should I buy a car in panama? | Sora Real Estate | Sora, Chame Real Estate | Soralpina Real Estate | summit golf | sunwing | sunwing tourism panama | | Taboga, Panama Real Estate | tarifas de taxi panama | taxi panama | Terrazas, Playa Blanca, Playa Blanca Real Estate | The Club Town, Embassy Club Real Estate | The Sands Real Estate | the truth about panama | tips about panama | tips for selling your home in panama | Toabré Real Estate | Torio Ocean View Real Estate | Toscana 2, Altos del Maria Real Estate | Toscana del Este, Costa del Este Real Estate | Toscana II, Altos del Maria Real Estate | Toscana Subdivision, Altos del Maria Real Estate | tourism panama | Town Center Real Estate | Town Center, Playa Blanca Real Estate | Town Center, Playa Blanca Resort Real Estate | Town Center, Rio Hato Real Estate | travel insurance panama | Trinity Hills Valley Real Estate | Trinity Hills Valley, Lidice Real Estate | troy bell | Tucan Golf | Tucan Golf & Country Club Real Estate | Via Espana, Parque Omar Real Estate | Via Poras, San Francisco Real Estate | Villa Lorena, Chanis Real Estate | Village at the Pool, Bijao Real Estate | visa panama | vista mar panama | VISTA MAR Real Estate | Vista Mar, Coronado Real Estate | Vista Mar, San Carlos Real Estate | Vivendi 300, Edison Park Real Estate | Woodlands, Panama Pacifico Real Estate
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.