Confidential Officers' Appointment Method for Corporation in Panama
In difference to the Standard Confidentiality Method for Corporation in Panama, this type of the Corporate setup can be very much useful for connected companies and offshore corporation in Panama which shall be managed by other corporations or entities.
This method of confidential management of offshore corporation in Panama can also be used by individuals wishing to appear as President, Secretary or Treasurer of Corporation in the legal documents, contracts with other companies and in general business of such corporation, while still maintaining privacy of their names as that would not be disclosed in the public registry of companies in Panama.
In general, the only personal public details required for the formation of offshore corporation in Panama are names of directors and names of incorporators. The names of corporate officers are usually submitted first time as well, however, further appointments and replacements of Officers might not be public and can be chosen by Board of Directors according to Panama General Corporation Law. The Board of Directors is responsible to appoint and elect the corporate officers. Such later appointed Officers can remain confidential matter of the company.
Every Corporation shall have President, Treasurer and Secretary. That requirement is given in the Article 65. of the Panama General Corporation Law.
Officer can be elected, appointed or chosen by:
- Board of Directors
- Corporate By-Laws
- Articles of Incorporation
The Board of Directors can make resolution of appointment of new corporate officers after the incorporation, and such appointment can remain private matter of the company. The names of corporate officers would not be revealed in public registry.
Further, the By-Laws of Panamanian corporation need not be adopted by Board of Directors. They can be as well adopted by Shareholders, and such By-Laws can have greater authority (reference to Article 56. of the Panama General Corporation Law). The result would be appointment of President, Treasurer and Secretary, which could be executed by Shareholders anywhere in the world and without giving such information to Panama or to any other governmental agency.
That method is explained here step by step:
Two or more persons, usually our Vice President and Operational Officer which is attorney, form the Corporation in Panama.
The initial incorporators take 2 shares of the corporation and that fact remains the public information forever. The initial subscribers do not hold any shares in the corporation after the formation and corporate ownership is fully secured.
As soon as the corporation is formed, the shares are confidentially and privately transferred to the real shareholder, this fact remains private and confidential. The transfer of shares is legally verifiable and cannot be questioned. The shares are delivered with the company documents.
The Board of Directors and Corporate Officers, mentioned in the corporate documents, Articles of Incorporation, act only as nominee directors. This matter is documented in the private and confidential document, signed by nominees, which declares that nominee Directors and nominee Officers have no claims whatsoever against the corporation and that they act only as nominees. The Panamanian laws prevents any misuse by strict fines and imprisonment.
The Board of Directors issues the private and confidential corporate Resolution of Appointment of new Corporate Officers. Such document can be as well notarized and apostilled. This Resolution can be used to show the authorization over corporate business and management. It has similar purpose like the confidential Power of Attorney.
Corporate Officers can be other legal entities, companies, other limited liability companies, foundations, corporations, attorneys or other individuals anywhere in the world.
In addition to the above, the authority over appointment of new directors or officers can remain under shareholders' control through the adoption of corporate By-Laws, limiting the nominee directors in their actions or powers by using the Article 51 of the Panama General Corporation Law.
Visual Chart of Confidential Corporate Officers' Appointment
Thetabiz Corporation does offer anonymous business setup and anonymous banking assistance, but only when anonymous is not synonym to illegal or fraudulent. Do not contact us if you intend to break the law of Panama or your local country. We offer only legal offshore asset protection structures.
We do not promote, endorse or tolerate any suspected fraudulent, abusive, or illegal activity and such may be grounds for terminating your relationship with Thetaworld Corporation and may be referred to appropriate law enforcement authorities.