Panama market overview

Panama’s legal community is still recovering from the revelations uncovered by the Panama Papers, a leak from law firm Mossack Fonseca in 2016 that shone a light on the role the country plays in helping the world’s rich and powerful avoid taxes. Since then, the country has been on a mission to clear its name. But the European Commission’s decision in February 2019 to add Panama to a blacklist of countries considered a threat because of lax controls on terrorism financing and money laundering represents a step backwards.