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Andorran bank opening in Panama

By admin | September 25, 2008

For longer than I care to recall, two of my favorite tax havens have been Andorra, discreetly hidden away in the mountains between France and Spain, and Panama, the business-friendly Latin American country that was created as a global trade hub by the Panama Canal.

It’s interesting to see, therefore, in Spanish-language news from Terra, that the largest Andorran bank, Credit Andorra, has obtained a provisional licence to carry on business in Panama as Banco Credit Andorra (Panamá) SA.

It will be interesting to see what offshore banking facilities Credit Andorra will be offering in Panama. They join Andbanc, the second Andorran bank, that already has a representative office in Panama City.

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