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
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).
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
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.