The only service that comes to mind for me is NordVPN, which is based in Panama.
Is Panama the big brain move? If so, why aren’t more privacy services doing this?
What kind of privacy laws are good in Panama? Any that aren’t? Does it have a history of bowing to Five Eyes requests?
I kind of answered your later question too — Panama bows to the highest bidder. I wouldn’t consider them a privacy haven of the sort we’d be looking for; they specialize in corporate privacy.