| Panama
has established itself as the financial destination to head
for after the likes of New York, London, Stockholm and Geneva.
You have here almost the entire range of financial infrastructure,
like banks, Asset Protection Corporations, Insurance, financial
consultants and more to take care of all your monetary matters.
Panama, with as many as 400,000 registered Corporations,
presents ample opportunities for offshore
banking and asset protection. 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.
Akin to other tax havens, no taxes are imposed on the Offshore
Asset Protection Companies launched in Panama (excepting the
small fixed annual fees) and promises absolute privacy to
investors. Forming an Asset Protection Corporation in Panama
isn’t a Herculean task by any means – the entire
process of 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 a global scale by investing in Panama’s Asset Protection
Corporations. The following information will help you form
and operate your Panama Offshore Asset Protection Company:
What The Incorporation Process Involves?
The Incorporation procedure involves the constitution and
registration of the Corporation.
This is done through a Panama lawyer (or law firm) who acts
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).
What Will Be The Capital Requirement?
The standard capital requirement for a Panamanian Offshore
Asset Protection Corporation is US$10,000.00. However, this
is not in the form of Paid-In Capital. In fact, there is no
specified time limit in which the authorized capital has to
be fully paid. You will have personal liabilities as a shareholder;
hence, you will have to clear the company’s debts (to
the limit of your share) if and when the company fails to
do so.
How Do You Go About Staffing Your Company?
You will need to register the names of Owners or Subscribers
(usually two) during incorporation. At least 3 directors,
whose names will form a part of the public record, are mandatory
to form a Panama Offshore Company.
As said, the Panamanian Non-resident Corporations provide
100% secret investing opportunities and so Anonymous Ownership/Shareholder
Certificates will be issued to you in the form of Nominative
or Bearer Forms. Again, for purposes of confidentiality, you
will need to appoint nominee Directors and officers (for the
posts of President, Secretary, Treasurer as well as other
officials) for your Panama Asset Protection Corporation. And
as the actual Investor/Shareholder, you must have the Power
of Attorney.
Taxation And Reporting Requirements In Case of The
Offshore Asset Protection Companies
Offshore Asset Protection Companies in Panama do not necessitate
Reporting. The Non-resident Panamanian Corporations are 100%
tax-free. All you need to pay are the Annual Corporate Franchise
fees amounting to US$ 350 annually following the incorporation.
All The Records and Accounts That Are To Be Maintained
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 an index of the names, addresses and
date of acquisition of all the actual shareholders.
A Little About Business License Requirement
You do not need a commercial business license to set up a
Panama Asset Protection Corporation or even to operate business
internationally.
As is evident from all the aforementioned facts, Panama has
on offer lucrative and more importantly, secure investment
options in an Asset Protection Corporation. Furthermore, you
have the lures of absolute investor privacy and security that
have had the offshore investors flocking to the country in
droves.
We can establish a Panama Corporation for you for less than
$1,000. Please see our legal fees below, or contact
us for more information.
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