In Panama constitutional norms exist that promotes the private property, they protect the intellectual property, the free enterprise and the principle of not discrimination.

The Constitution foresees that the foreigners that be found in the national territory they will receive the same deal that the national. Panama does not have neither has had a specific legislation on the direct foreign investment, due to that their general legal state applies equally to national and foreign, equality that is found consecrated in the Political Constitution of the Republic of 1972, modified by the Reformatory Acts of 1978 and by the Constitutional Minutes of 1983; Article 19.

The foreign investment in capital goods, of consumption or of production they are guaranteed by the Law of Legal Stability of the Investments (Law Not. 54 of 22/07/98), through which the State promotes and protects the investments performed in the country, among others, in the following activities:

• Generation of electric power.
• Mining
• Zones Processors of Export and Zones Free of Commerce and Petroleum
• Constructions
• Railroad and Harbor developments
• Telecommunications

Projects of Irrigation and Efficient Use of Water Resources and every activity that approve the Counsel of Cabinet, subject to recommendation of the Department of Commerce and Industries. (Art. 5 of the law).

Likewise, it will be guaranteed them, to you said investors, the free disposition of the resources generated by its investment, the free repatriation of capital, dividends, interests and utilities by-products of the investment, as well as the free commercialization of its production"

Panama does not have control of change neither of transfer of funds, by being the US Dollar the main instrument of exchange. There is a not applicable limitation to the dividends, remittances by exemptions or fees by technical services. The transfers of capitals are free.

The foreign investor can invest in any sector of the economy, in accordance with the dispositions established in the laws that govern the activity to which destines its investment. International consultants have appointed specific sectors that are more favorable for the investment and that at the same time general short-term jobs.

These areas are:

Right and protection to the foreign investment

The Article 44 of the Political Constitution of 1972, guarantees the private property acquired in accordance with the Law by physical or natural people. Panama is member of the World Organization of Intellectual Property, the Convention of Geneva, the Satellite Convention of Brussels and the Universal Convention of royalty.

Banking security

The International Banking Center of Panama (CBI), al month of October of 2001, included 76 banks (54 foreigners, 20 Panamanians) whose active elevated to US$37,428 millions, of the ones that the 51% are foreigners.

It recognized since time ago as the most important one of the region, and along with the Panama Canal, the Law of Corporations, the Law of merchant marine and of Ships, the Zone act of register under nation's flag Free of Columbus, the laws of Insurance, Reinsurance and insurance Companies Captives, a merchandising of capitals and a Stock Exchange growing hardly, a modern Law of Trust and, more recently, the new Panamanian Private Foundation, and the New Railroad Transístmic do of Panama a true Center of International Services.

The characteristic advantages, and in some unique cases, of Panama, so much for banking business, as of another financial and commercial, national and international nature, such as, the absence of a monetary authority and of paper money, and the use of the American dollar like legal tender, has contributed to protect al CBI Panamanian of the effects of the financial crisis that come breaking down practically all the markets and systems Of the world; the CBI has maintained an absolute stability, and even various local banks have responded carrying out emissions of financial instruments to medium time limit in the international markets. You sign and international analysts qualify al CBI Panamanian right now as a paradise