Panama is located in the centre of the American continent, between Costa Rica and Colombia. Panama has a population of over three million people and has been an independent country since 1903. The official currency is the Balboa (PAB), which has a fixed exchange rate of 1:1 with the USD. The official language is Spanish, but English is the common language in business.
Panama's legal code is based on Spanish Civil Law. The corporate law of Panama rests heavily on the laws of Delaware.