A question from Yahoo! Answers:

What are some interesting facts about Panama?

what is going on currently and happend in the past, wars, struglles, panama canal

Panama is one of the oldest tax havens in the world. It strictly follows the territorial taxation principle (i.e., no foreign-source income is taxed in Panama) and has the least restrictive trust laws in the world. A Panamanian trust can be formed without any formalities other than authentication of grantor’s signature by a Panamanian notary; the trust deed remains private and is never filed with any authority. Additionally, under Panamanian law, the grantor need not be an individual; it can be a corporation as well. The same rule applies to trustees.