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Find out The Facts About Panamanian Asset Protection Corporations

There’s more to Panama than just sandy beaches and virginal forests. Panama has also recently gained prominence as one of the foremost financial destinations of the world. It is particularly noted for the lucrative opportunities it offers with regards to offshore investment. And this is mostly due to the presence of numerous global standard Asset Protection Corporations in Panama.

With as many as 400000 registered Corporations, there is simply no lack of offshore banking and asset protection opportunities in Panama. Created under the General Corporation Law, Law 32 of February 26, 1927, Panama Asset Protection Corporations (as these Offshore Companies are commonly known as) provide the legal framework necessary for conducting legitimate business activities on a worldwide scale.

As in other tax havens, no taxes are imposed on the Offshore Asset Protection Companies that have been launched in Panama (except for the miniscule amount of fixed annual fees that you need to advance) and promises absolute privacy to investors. Forming an Asset Protection Corporation in Panama is sheer convenience personified – the incorporation takes no more than 8 working days. You require neither a business license nor any Paid-In Capital to start the Panama Offshore Company.

Hold accounts in Panamanian banks or get involved in businesses on an international scale by investing in Panama’s Asset Protection Corporations. The following information will help you form and operate your Panama Offshore Asset Protection Company:

How Will Go About the Incorporation Process

The Incorporation procedure involves the constitution and registration of the Corporation.
This is done through a Panama lawyer (or a law firm) who will act as the Registered Agent, presenting the Subscribers before the Notary Public. Once the Corporation is registered, the documents are couriered to the actual investor. (Note: The Registered Agent’s address appears as the legal address of the Panama Non-resident Corporation).

Capital Concerns

The customary capitalization for a Panamanian Offshore Asset Protection Corporation is US$10,000.00, however, this is not in the form of Paid-In Capital. In fact, there is no set time limit in which the authorized capital has to be fully tendered. You will have personal liabilities as a shareholder; hence, you will have to clear the company’s debts (to the limit of your share) if and when the company fails to do so.

And How About Forming Your Company The Right Way

You will need to register names of Owners or Subscribers (usually two) during incorporation. At least 3 directors, whose names will be part of the public record, are necessary for forming a Panama Offshore Company.

As said, the Panamanian Non-resident Corporations provide 100% secret investing opportunities and so Anonymous Ownership/Shareholder Certificates will be issued to you in the form of Nominative or Bearer Forms. Again, to preserve confidentaility, you will need to appoint nominee Directors and officers (for the posts of President, Secretary, Treasurer as well as other officials) for your Panama Asset Protection Corporation. In your capacity as the real Investor/Shareholder, it is imperative that you possess the Power of Attorney.

The Know-how Of Taxation And Reporting Requirements

Offshore Asset Protection Companies in Panama do not necessitate Reporting. The Non-resident Panamanian Corporations are 100% tax-free. All you need to pay are the Annual Corporate Franchise fees of US$ 350 each year following the incorporation.

Tidbits About Records and Accounts

A Panama Offshore Banking Venture does not require you to maintain or file financial statements. The only documents that matter are the incorporation documents filed with the Mercantile Registry and a listing of the names, addresses and date of acquisition of all the actual shareholders.

All That You Need To Know About Business License Requirement

The best thing about an Asset Protection Corporation in Panama is that you do not need a commercial business license to set up a Panama Asset Protection Corporation or even to operate business internationally in Panama.

You can put in your hard-earned money in an Asset Protection Corporation in Panama blindfolded and bask in the thought that it would not go down the drains. For investor privacy and security are the hallmarks of these corporations.

For our discounted legal fees for forming a Panama Corporation, please click the link below, or contact us for more information.