More and More Stock Brokers in Panama

Their number has doubled in the past six years, and there are currently 75 companies managing a total of more than $18 billion in assets.

Monday, October 15, 2012

Capital.com reports that "In 2000 only 20 brokerage houses operated in the country, by 2007 the number had climbed to 40 and as of August this year the figure reached 75."

Advances in the rules governing the sector, have attracted the investment of foreign stock brokers who have relocated or want to expand their services in Central America.

"According to a survey conducted this year by the Superintendency of Securities (VPS) between the active participants in this sector, these brokers provide services for securities in or from Panama for a portfolio of 24,000 clients, 48% of them are Panamanian investors . A third of the brokerage houses operating in or from Panama have only foreign customers. The survey also revealed that only 7% only attended to Panamanian clients. Most serve both local and foreign investors. The capital for these brokerage houses comes from about 15 countries, but overall the capital that predominates is Panamanian, Colombian, Mexican and Venezuelan, and most of its operations include investors from their countries of origin. "

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