The beaches and sunsets highlight the city's natural beauty with places to visit including St. Andrews State Park, Conservation Park, and Shell Island. Dolphin watching, golfing, and fishing are top activities, while sights to visit include Signal Hill Golf Course, Signal Hill Country Club, and Hombre Golf Club. Other notable sights to explore include Gulf World Marine Park and Pier Park.
Former Sudanese President Ahmed al-Mirghani was a client of Mossack Fonseca also.[454] Al-Mirghani lived in Egypt after the 1989 coup that ended his presidency and was active in the Democratic Unionist Party.[454] Orange Star Corporation bought a long-term lease in a tony London neighborhood near Hyde Park for $600,000 the same year al-Mirghani created it, and at the time of his death held assets worth $2.72 million.[454]
The city was founded on August 15, 1519, by Pedro Arias de Ávila, also known as Pedrarias Dávila. Within a few years of its founding, the city became a launching point for the exploration and conquest of Peru and a transit point for gold and silver headed back to Spain through the Isthmus. In 1671 Henry Morgan with a band of 1400 men attacked and looted the city, which was subsequently destroyed by fire. The ruins of the old city still remain and are a popular tourist attraction known as Panamá la Vieja (Old Panama). The city was rebuilt in 1673 in a new location approximately 5 miles (8 km) southwest of the original city. This location is now known as the Casco Viejo (Old Quarter) of the city.
An example of undisturbed, unique culture in Panama is that of the Guna who are known for molas. Mola is the Guna word for blouse, but the term mola has come to mean the elaborate embroidered panels made by Guna women, that make up the front and back of a Guna woman's blouse. They are several layers of cloth, varying in color, that are loosely stitched together, made using a reverse appliqué process.
Also in 2005, Zacharias (Zacky) Nujoma, youngest son of Sam Nujoma, set up two holding companies, Avila Investments and Marbella Investments, and licensed them to buy and cut diamonds. Shortly afterwards 90% of the stock was transferred to Diamond Ocean.[209] In 2006 Nujoma established Ancash Investments, which obtained seven exclusive uranium prospecting licenses.[209] Palazzolo loaned the company US$10 million.[209] Canadian mining company announced it would partner with Ancash in its uranium contracts and said it based its decision in part on Ancash's strong international support in Natural Earth International Ltd. of Hong Kong.[209] Natural Earth is another Deutsche Investment company.[209]
The prosperity enjoyed during the first two centuries (1540–1740) while contributing to colonial growth; the placing of extensive regional judicial authority (Real Audiencia) as part of its jurisdiction; and the pivotal role it played at the height of the Spanish Empire – the first modern global empire – helped define a distinctive sense of autonomy and of regional or national identity within Panama well before the rest of the colonies.
Casco Antiguo displays a mix of architectural styles that reflect the country's cultural diversity: Caribbean, Republican, art deco, French, and colonial architecture mix in a site comprising around 800 buildings. Most of Panama City's main monuments are located in Casco Antiguo, including the Salón Bolivar, the National Theater (founded in 1908), Las Bóvedas, and Plaza de Francia. There are also many Catholic buildings, such as the Metropolitan Cathedral, the La Merced Church, and the St. Philip Neri Church. The distinctive golden altar at St. Joseph Church was one of the few items saved from Panama Viejo during the 1671 pirate siege. It was buried in mud during the siege and then secretly transported to its present location.

The Panama Papers linked a minister in the government of Prime Minister Joseph Muscat, Konrad Mizzi, and the prime minister's chief of staff, Keith Schembri, to shell companies in Panama. Furthermore, Mizzi's wife, Sai Mizzi Liang, who is Malta's trade envoy to China and Consul General for Malta in Shanghai, China, was also named as beneficiary, together with their children, of a trust based in New Zealand holding Mizzi's Panama shell company.
The family of Azerbaijan President Ilham Aliyev leads a well-off life thanks in part to financial interests in various sectors of the nation's economy. His wife ascendants are privileged and powerful family that owns banks, insurance and construction companies, a television station and a line of cosmetics. She is well known for her pre-eminent charity work that has led to the construction of schools, hospitals and the country's major sports complex.[335]

New Zealand's Inland Revenue Department said that they were working to obtain details of people who have tax residence in the country who may have been involved in arrangements facilitated by Mossack Fonseca.[493] Gerard Ryle, director of the International Consortium of Investigative Journalists, told Radio New Zealand on April 8, 2016 that New Zealand is a well-known tax haven and a "nice front for criminals".[494] New Zealand provides overseas investors with foreign trusts and look-through companies. New Zealand government policy is to not request disclosure of the identity of either the settlor or the beneficiaries of the trust, and thus the ownership remains secret, and as a consequence, thus hiding the assets from the trust-holder's home jurisdictions. These trusts are not taxed in New Zealand. These trusts can then be used to acquire and own New Zealand registered companies, which become a vehicle by which the trust owners can exercise day to day control over their assets. These New Zealand-registered companies can be designed not to make a profit using loans from tax havens and other profit shifting techniques: the result being tax free income with the general respectability that has typically been associated with companies registered in New Zealand.


The longest highway in the world, the Pan-American Highway is 19,000 miles stretching from Alaska to Panama. The highway is interrupted in Panama in the province of the Darien Gap by 100 miles of swampland and thick forested jungles which is home to indigenous tribes. The highway continues on the Colombia side for another 11,000 miles ending in Ushuaia, Argentina.
Spanish authorities had little control over much of the territory of Panama. Large sections managed to resist conquest and missionization until very late in the colonial era. Because of this, indigenous people of the area were often referred to as "indios de guerra" (war Indians) who resisted Spanish attempts to conquer them or missionize them. However, Panama was enormously important to Spain strategically because it was the easiest way to transship silver mined in Peru to Europe. Silver cargoes were landed at Panama and then taken overland to Portobello or Nombre de Dios on the Caribbean side of the isthmus for further shipment.
Since 1914 the 51-mile- (82-km-) long Panama Canal, which connects the Atlantic and Pacific Oceans, has afforded a long-sought shortcut for shipping and assures the country’s standing as one of the most strategic transportation hubs of the world. The canal also secures Panama’s ongoing role in international affairs and world commerce. The United States relinquished jurisdiction of the Panama Canal on December 31, 1999, marking an unprecedented shift in Panamanian society. For the first time in nearly a century as an independent nation, Panama controlled the entirety of its national territory.

ICIJ, The Guardian and The Independent have reported that UAE President Khalifa bin Zayed Al Nahyan owns London real estate worth more than £1.2 billion through a structure of some thirty shell companies Mossack Fonseca set up for him in the British Virgin Islands and administer for him, using them to manage and control the luxury properties in London.[300][390][391] By December 2015, Mossack Fonseca held nearly all of the shares in those companies in trust structures on his behalf, with the President and his wife, son and daughter the trust beneficiaries.[391]


SZ also had concerns about security, not only for their source, the leaked documents, and their data, but also for the safety of some of their partners in the investigation living under corrupt regimes who might not want their money-handling practices made public. They stored the data in a room with limited physical access on air gapped computers that were never connected to the Internet. The Guardian also limited access to its journalists' project work area. To make it even harder to sabotage the computers or steal their drives, SZ journalists made them more tamper-evident by painting the screws holding the drives in place with glitter nail polish.[58]
On June 6, 1987, the recently retired Colonel Roberto Díaz Herrera, resentful that Noriega had broken the agreed-upon "Torrijos Plan" of succession that would have made him the chief of the military after Noriega, decided to denounce the regime. He revealed details of electoral fraud[clarification needed], accused Noriega of planning Torrijos's death and declared that Torrijos had received 12 million dollars from the Shah of Iran for giving the exiled Iranian leader asylum. He also accused Noriega of the assassination by decapitation of then-opposition leader, Dr. Hugo Spadafora.[27][citation needed]

The leaked documents indicate that about US$2 trillion has passed through the firm's hands.[110] Several of the holding companies that appear in the documents did business with sanctioned entities, such as arms merchants and relatives of dictators, while the sanctions were in place. The firm provided services to a Seychelles company named Pangates International, which the US government believes supplied aviation fuel to the Syrian government during the current civil war, and continued to handle its paperwork and certify it as a company in good standing, despite sanctions, until August 2015.[101]
From 1903 to 1968, Panama was a constitutional democracy dominated by a commercially oriented oligarchy. During the 1950s, the Panamanian military began to challenge the oligarchy's political hegemony. The early 1960s saw also the beginning of sustained pressure in Panama for the renegotiation of the Hay–Bunau-Varilla Treaty, including riots that broke out in early 1964, resulting in widespread looting and dozens of deaths, and the evacuation of the American embassy.[26]
The Panama Papers confirmed that the politician Stavros Papastavrou, who was advisor of former Prime Ministers Kostas Karamanlis and Antonis Samaras, had been a member of the council of the Panamanian foundations, Green Shamrock Foundation and Diman Foundation, from 2005 to 2014. In 2006, he became deputy chairman of the Aisios Foundation, that still exists today. However, Papstavrou resigned from the Aisios Foundation in 2012.[193]

The Panamanian currency is officially the balboa, fixed at a rate of 1:1 with the United States dollar since Panamanian independence in 1903. In practice, Panama is dollarized: U.S. dollars are legal tender and used for all paper currency, and whilst Panama has its own coinage, U.S. coins are widely used. Because of the tie to US dollars, Panama has traditionally had low inflation. According to the Economic Commission for Latin America and the Caribbean, Panama's inflation in 2006 was 2.0 percent as measured by a weighted Consumer Price Index.[68]


According to ICIJ investigative partners DataBaseAR and Seminario Universidad, Mossack Fonseca helped Borda Azul fabricate invoices to allow it to report both inflated costs—to reduce its taxes—and inflated exports, to allow it to continue to qualify for the tax credit certificates. In a letter dated October 19, 1998, a Mossack Fonseca lawyer explained the investigation to the Panama City office and concluded:
New Zealand's Inland Revenue Department said that they were working to obtain details of people who have tax residence in the country who may have been involved in arrangements facilitated by Mossack Fonseca.[493] Gerard Ryle, director of the International Consortium of Investigative Journalists, told Radio New Zealand on April 8, 2016 that New Zealand is a well-known tax haven and a "nice front for criminals".[494] New Zealand provides overseas investors with foreign trusts and look-through companies. New Zealand government policy is to not request disclosure of the identity of either the settlor or the beneficiaries of the trust, and thus the ownership remains secret, and as a consequence, thus hiding the assets from the trust-holder's home jurisdictions. These trusts are not taxed in New Zealand. These trusts can then be used to acquire and own New Zealand registered companies, which become a vehicle by which the trust owners can exercise day to day control over their assets. These New Zealand-registered companies can be designed not to make a profit using loans from tax havens and other profit shifting techniques: the result being tax free income with the general respectability that has typically been associated with companies registered in New Zealand.
To start this tour, you will be picked up in central Panama City and taken halfway up the Panama Canal to the town of Gamboa, where the Chagres River meets the canal.  A professional bilingual guide and boat captain will be waiting for you in a spacious covered boat.  During your 90-minute boat cruise you will ride along the waters of the Panama Canal right next to the ships passing through on their way to the Atlantic or Pacific Oceans.  The destination is Gatun Lake, where you will cruise around islands created during the canal construction and see the abundant wildlife on their shores.  You will visit the famous Monkey Islands where we can see capuchins, howlers, and tamarins in their natural habitat.  The islands are situated in a world renowned tropical birding area, and along the shores you might catch glimpses of crocodiles, capybara, coati, agouti, iguanas, and much more.  The tour will finish with transportation to central Panama City.
A diverse multicultural city of almost 1.3 million, Panama City offers a lot more than an up-close view of the Canal. Shantytowns slink up alongside shiny high-rise condos. The Old City is an atmospheric labyrinth of churches, plazas and palaces. Fifteen miles from downtown Panama City, Soberania National Park is an excellent destination for hiking and birding. For a fascinating look at the canal, take a taxi or local bus to Miraflores Locks Visitor Center and look down on the traffic below.
You don't have to make it all the way to the Darién to get off the beaten path – though if you do, you've hit one of the most biodiverse spots on the planet. Go where the wild things are. Soak in the spray of towering waterfalls near highland Santa Fé. Visit one of Panama's seven indigenous groups through community tourism. Live out your castaway fantasies in the Guna Yala or idle on a wilderness beach in Península de Azuero. Howl back at the creatures sharing the canopy. Panama is as wild as you want it to be.
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