Originally Posted by Webby

PS Damn.. almost forgot!! If you are a US citizen, Panama is prob not such a good idea.

The problem with Panama (and a few other offshore jurisdictions) is that there is a MAT (Mutual Assistance Treaty) with the US - other countries don't have this. So... again.. it's prob worth consulting a lawyer - not really about offshore law, but more about US domestic law re any problems this could possibly cause.