Panama has won the coveted #1 spot in Latin Business Chronicle’s Latin Business Index, meaning it is now officially rated as the best Latin American country for doing business.
Wait…we think we’ve heard that somewhere else? Right, right…in these dispatches for the past two years!
Last year, Panama came out #2 in Latin Business Chronicle’s index, behind Chile. It pulled ahead this year thanks to improvements in economic freedom and technology.
For the survey, the Latin Business Chronicle looks at 19 countries in the region. Panama also ranks #1 this year in the globalization and competitiveness category, snatching this gold-medal position from last year’s winner, Costa Rica.
In other important news today, rumors are circulating that Uruguay has sold out and introduced legislation to impose taxes on bank deposits and other assets held offshore by citizens and residents in the country.
That’s not what we’re reporting, however, because that’s not the fact. The truth is, this new legislation has been proposed and is being considered. It has not been passed.
In this offshore world of international taxation and asset protection, it can be hard to know what to believe. That’s why, before we sound the alarm, we’re confirming the facts with two longtime friends who also happen to be two of the only offshore experts we trust. More tomorrow…