When looking into where to place your assets offshore, there are a few options. The most notable are Panama and Switzerland. Before making a decision one should look at the important aspects of offshore asset protection.

These are the levels of secrecy laws and their effectiveness, different asset protection vehicles in place in that country and the minimum amount required to hold assets offshore.

Panama has no major minimum requirement restrictions. If you have enough money to want to protect it offshore, then you have enough to do your offshore banking in Panama. In Switzerland, the very lowest minimum deposit requirement is $10,000.

Tax evasion is deemed a misdemeanor in Switzerland, so they will deal with other governments regarding this issue.

Panama's government has not signed any tax treaties with any other countries. In Panama tax evasion is not considered a crime so they will often not break their secrecy laws even for MLAT.

In Panama tax evasion is not considered a crime so they will often not break their secrecy laws even for MLAT. As far as the levels of secrecy, Panama wins hands down.

There are still bank executives that know the asset holders name though. In Panama there is the iron clad foundation/corporation vehicle. This is when a foundation is started with the depositors assets. That foundation also owns a corporation, from which all the business gets conducted.

If someone wanted to know where the corporation came from all they would find is that it is owned by a nameless foundation. This has created a layered effect which, along with Panamas strict secrecy laws, makes up the iron clad effectiveness of Panama offshore banking. Switzerland uses their old "numbered bank accounts".

In Panama tax evasion is not considered a crime so they will often not break their secrecy laws even for MLAT unless under extenuation circumstances. Tax evasion is deemed a misdemeanor in Switzerland, so they will deal with other governments regarding this issue. As far as the levels of secrecy, Panama wins hands down.

If you have enough money to want to protect it offshore, then you have enough to do your offshore banking in Panama. Due to the fact that Swiss banking has been around for so long, they have made their industry very exclusive. Some of their banks require a minimum of $250,000 deposit! The very lowest requirement there is $10,000. Panama has no such restrictions.

Panama is the choice when looking into where to place your assets offshore. It has the strongest secrecy laws and does not participate in any tax treaties. Panama has the best offshore asset protection vehicles in its Foundation/Corporation structure due to its layered effect.

There are no unreasonable minimum deposit requirements, as there are in Switzerland, so anyone who needs their assets protected offshore can do so safely. With these comparisons the choice is easy. Panama is the choice when looking into where to place your assets offshore. Panama has won all three rounds against Switzerland and should emerge as your offshore banking destination of choice.

Finance Products on our marketplace

Find out more about panama vs swiss asset protection or panama bank accounts go to Offshorelegal.org.