Panama Corporation as Offshore Company
Any person or company can own an offshore business corporation in Panama, regardless of nationality or domicile. The beneficial owner must not be registered with any government authorities, and nominee directors can be appointed who would act as managers for your offshore corporation. There will be no need to come personally to Panama in order to form an offshore company.
Panama corporation offers many advantages in comparison with other jurisdiction in terms of:
- the Panama Corporation Law;
- independency of the Republic of Panama,
- strictest secrecy and confidentiality laws,
- impossibility of peircing the corporate veil,
full control by Shareholders over the company matters.
- Internet order form for Panamanian Corporation
- Panama Company for US or EU Citizen
- More on Panama Company
- Steps to Establishing an Offshore Company in Panama
- Internet order form for Panamanian Corporation
Panama Company for US or EU Citizen
Panama company can be especially useful vehicle for US citizens wishing to achieve:
- great deal of legal tax savings, and not tax evasion,
- confidentiality by doing business,
- legal tax postponement until the expatriation or change of residence,
- investment opportunities not directly available to US based entities or persons,
- protection against creditors,
- protection against all kinds of law suits,
- powerfull offshore asset protection.
Such strategies, explained on our pages, are part of our Thetaworld™ Knowledge. We do not recommend US citizens to incorporate offshore while doing tax evasion. The offshore structure can be used in legal way, while disclosing all the details of the structure to the IRS or your local tax office. We do not want to let anyone remain open to an attack by the government, state or IRS or other tax office. Even if one's name is not disclosed in the public registry, that fact will weaken one's defense. by employing legal structure, disclosable and reportable structure, an US citizen will have nothing to hide and will have his assets fully protected, with high interest rates and with great deal of tax deferral, confidentiality, legal tax savings and asset protection.
Panama company can be of great advantage for EU citizens as well wishing to achieve legal tax savings and deferment of income tax at the country of residence. Such offshore structure is customized to the beneficiary, depending of his country of residence and his current tax and financial status.
There is no general rule for anyone on how to structure business affairs in order to have them completely legal.
The real advantage lies in the power and ability to control the business and having economic income without having taxable income, similarly to politicians with power without ownership which control other people's assets.
More on Panama Company
The Panama offshore company doesn't need to pay any taxes on businesses made outside of Panama and can own in corporation's name any assets, shares, real estate or private property. The name of Panamanian corporation can be followed by Corporation, Corp., Inc., S.A. (Anonymous Society), AG, Aktiengesellschaft, A/S, Akseselskap aanguage. Basically the suffix can be in any language indicating that type of the company is a corporation.
Read more why is Panama the preferred offshore jurisdiction...
Steps to Establishing an Offshore Company in Panama
Panama has one of the most modern and flexible corporate laws in Latin America and world. In order to form a corporation in Panama, the client must furnish the following information:
- The name of the corporation. It may be in any language, but it must terminate in a word or abbreviation indicating that it is a corporation.
- The objectives and purposes of the corporation.
- The amount of the authorized capital. Usually the authorized capital will consist of US$10,000 divided into 100 shares of US$100 each. Shares may be nominative or bearer shares.
- Duration of the corporation, usually perpetual.
- The full names and addresses of three or more directors and/or officers.
- The domicile of the corporation.
The time period usually involved in setting up a corporation is from 5 days to 7 days. The corporation is setup by our Operational Officer Mr. Carlos Richards, Panamanian attorney.
The fee for establishment of the corporationg including 3 nominee directors and translation of all documents into English is US $1500 with the annual maintenance fee of US $900.
