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  1. #1

    Panama -

    Hi guys,

    Anyone have any experience with

    Looking to set up a single server there with room to grow.

    Or, if anyone can recommend another reliable Panamanian host, please feel free.


  2. #2
    I have had almost a year of experience with HighSecured and their sister company Offshore Technology. My advice would be to go elsewhere and not Panama. The data center is very impressive except when something breaks or ceases to work. Then you can spend days just trying to get them to talk with you. Then, all problems are server administrator (the client's) problems and they provide little or no assistence, even when you demonstrate that it is a hardware problem. The legal/financial services are simply a joke. It takes months (and in some cases 6-10 months) just to open an bank account and then it only happens when you pay a bribe. Moving money in and out of Panama takes weeks. For example, before a bank will even accept and deposit large WIRE TRANSFERS they want to know all about where the money is coming from, why it's coming and who is sending it (persons may be required to furnish certified copies of their passports, etc.)
    But that is only the beginning. The real fun starts when you try to pay bills, wire transfer out or use the debit/credit cards that the bank issued when they finally opened up the account. First, most of the banks do not have their online banking in English, German or French, so if you don't read/write in Spanish, you have two-strikes against you before you start. Secondly, when you call the bank and ask for assistence, few, if any of the staff speak English, German or French so communication is severely limited. Most debit cards can only be used for purchases in Panama and if you make too many or too large of ATM cash withdrawals or make them too frequently, the bank tries to close the account. Secured credit cards are better, but require 125% reserve on deposit with the bank! Now you should also know that in Panama, no one person makes any meaningful decision. All decisions, no matter how trival, are made by a committee of one sort or another. I don' know, if you plan to visit Panama (I have been 8 or 9 times) if you do, you will find the people pleasant but indifferent to other cultures. They look like Western folks but don't be fooled. Take one look at their infastructure and you will know what I mean. These folks are building at a tremendous pace, but their are no street stop signs or traffic lights, the roads are barely better than dirt trails with only minor acceptions. The road from the airport to downtown is first class but once you leave that road, few other compare favorably. These folks still dump all their sewage in the bay. The smell along the waterfront is awful.

    So, go somewhere else for your data, banking and corporate entity creation.

    Best of luck,

    Last edited by Viper6; 05-23-2008 at 12:52 PM.

  3. #3
    Many thanks for the response!

    We are launching a gaming site (NOT a casino, poker, or bookmaker)that has some wagering on it. As such, we need to set up off-shore. Most jurisdictions that provide 'gaming licenses' can not accommodate our model, so we thought it best to look to either Costa Rica or Panama.

    Costa Rica has not come recommended due to high crime rates, poor banking, and a more sluggish technological infrastructure.

    I found your comments regarding their legal/financial services very interesting. We've had several discussions with them about this and they seem incredibly certainly opened my eyes some.

    We were actually planning a trip down there to tour their premises...but it sounds like that may be a mistake. I take it you're no longer with them? If so, where have you moved on to?

    Do you have any experience with They same to provide similar services (hosting + legal/financial).

    Thanks again for the valuable information.

  4. #4
    Hi again;

    For many of the reasons that I cite and some that I don't, I have decided to move the corporate headquarters to Colombia where everything seems much better. My server is still with HighSecured but I changed my legal and financial services to another resident agent in Panama where I have had much better success. I would put the banks accounts in another venue with banking secrecy laws similar to Panama's. Hope that helps some.

    The HighSecured data center is very impressive but there are other contractors that use the same center too... It does not have their name of the building, so I don't know if they own the center or not...


  5. #5
    Thanks again.

    Any chance you can recommend the financial agent you now deal with in Panama? (if you don't want to share, I understand).

  6. #6
    Join Date
    Feb 2008
    Under your bed
    Panama servers are way too far from good.
    The network is just too unstable.
    Prices are extremely high considering Panama is "dramatically" growing each day.

    About Colombia, Do what OSHS said. Colombia does not have the stability for business as Panama, Opening a business in Panama is way more easier.

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