Panama Limited Liability Company
Panamanian Limited Liability Company, similar to corporations, can be used to protect your assets from any threats.
This type of companies can be especially useful for US based asset protection strategy which would be transparent and in accordance with the IRS. By utilizing Wyoming corporation and Panamanian Limited Liability Company, it is possible to get protection from law suits and complete asset protection while in the same time maintaining full tax compliance in all areas. In this mentioned structure there would be no tax savings and no tax benefits, but it would be impossible to seize the funds held in such structure.
The limited liability companies must use a trade name, denominate itself by its purpose, or bear the name that the partners agree to denominate it, but in all cases the words "Sociedad de Responsabilidad Limitada", or initials S. de R.L." or the abbreviation "Sdad, Ltda." must be added or placed before the name. (Initials "Ltd." are acceptable).
In the limited liability companies, the minimum number of partners shall be two (2) and the maximum twenty (20). However, if two partners are to be spouses, the minimum number of founding partners shall be three (3), the company not being able to operate with less than such number while such circumstance subsist.
The paid-in capital shall be integrated by the contributions of the partners. It shall not be less than two thousand dollars ($2,000.00) nor more than five hundred thousand dollars ($500,000.00).
The limited liability company shall be constituted by means of a public deed, that must be registered in the Public Registry and published. All its partners shall subscribe such deed personally or through special attorney-in-fact, and by the administrator, or the administrators designated in the same, should they not be partners. The mentioned deed shall state:
The names, surnames, nationalities, civil status, occupation (profession), identity card or of any other document of identification of each one of the executing partners.
The denomination of the company, or the trade name.
The domicile of the company, stating its complete address and the place or places where it is proposed to be established, or may already have established its main operations office, as well as its branches or agencies, should the latter has already been decided.
The duration of the company, as well as the manner in which such term is computed, and how to extend it, should the partners deem it convenient.
Explicit indication of the activity or activities that shall constitute the purpose of the company. It cannot, on a permanent basis, carry out operations that are not included in the objectives of the constitution charter, nor change to others without proceeding, in any case, to an amendment of the constitution charter.
The amount of the capital stock expressed in balboas, the contributions or quotas in which it is divided, and the value of each one.
The money, the assets or rights that each partner contributes, indicating in these latter cases, the concept in which it is made; the value attributed to the contributions which are not in cash, as well as the reasons to justify such estimation; the exact period and the manner in which the contributions in money not yet totally satisfied shall be completed, and the contributions or quotas assigned to them.
Appointment of the person or persons that shall be in charge of the administration and representation of the company, which may be partners, or not, indicating if desired, the term for which they are appointed. Lacking such indication, it is understood that they have been appointed for an indefinite period.
The manner in which the General Assembly of partners deliberates and adopt resolutions, as well as the manner of organizing it and the date, or dates in which it shall meet.
Should the number of partners be five (5), or less, it will not be necessary to hold general assemblies; but in such case, it must be clearly stated in the constitution charter, the manner in which the partners shall be consulted and the manner in which they shall express their opinion, in writing, concerning the matters submitted to them.The other lawful agreements and the conditions that the partners may esteem convenient to establish, provided that they shall not be opposed to the dispositions of this Law. It is prohibited to stipulate in the constitution charter additional benefit consisting of work or personal services of the partners.
Order by e-gold for Panama Limited Liability Company - US$1500
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