Now
Panama is known more for the umpteen financial opportunities
it offers than its pristine beaches, dense woodlands and high
mountains. In particular, offshore investors can surely hope
to have a field day with the plethora of Asset Protection Corporations
housed herein.
Panama, with as many as 400000 registered Corporations, presents
ample opportunities for offshore
banking and asset protection. Formed 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, taxes are not levied on the Offshore
Asset Protection Companies launched in Panama (excepting a
nominal amount of fixed annual fees) and promises absolute
privacy to investors. Forming an Asset Protection Corporation
in Panama is as easy as can be – the incorporation takes
no more than 8 working days and furthermore, you need neither
a business license nor any Paid-In Capital to float the Panama
Offshore Company.
Have accounts in Panamanian banks or get into a business
on an international level by investing in Panama’s Asset
Protection Corporations. And you need to stock up on the following
facts to form and operate your Panama Offshore Asset Protection
Company:
What Do You Need To Know About The Incorporation
Process
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 is considered the legal address
of the Panama Non-resident Corporation).
All About Capital Requirement
The standard capitalization for a Panamanian Offshore Asset
Protection Corporation is US$10,000.00, however, this is not
in the form of Paid-In Capital. In fact, there is no set time
period within which you have to tender the whole authorized
capital. You will have personal liabilities as a shareholder;
hence, you will have to clear the company’s debts (to
the limit of your share) if and when the company fails to
do so.
All That You Need To Do About Forming Your Company
You will need to register names of Owners or Subscribers
(usually two) during incorporation. At least 3 directors,
whose names will be part of the public record, are must for
forming a Panama Offshore Company.
As mentioned, the Panamanian Non-resident Corporations provide
100% secret investing opportunities and so Anonymous Ownership/Shareholder
Certificates will be issued to you in the form of Nominative
or Bearer Forms. Again, for purposes of confidentiality, you
will need to appoint nominee Directors and officers (for the
posts of President, Secretary, Treasurer as well as other
officials) for your Panama Asset Protection Corporation. As
the actual Investor/Shareholder, you must have the Power of
Attorney.
A Bit About Taxation And Reporting Requirements
Offshore Asset Protection Companies in Panama do not necessitate
Reporting. The Non-resident Panamanian Corporations are 100%
tax-free. All you need to pay are the Annual Corporate Franchise
fees of US$ 350 each year following the incorporation.
Things That You Should Know 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 dates of acquisition of all the actual shareholders.
A Thing 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.
You can be rest assured that with all measures adopted to
ensure supreme investor privacy and safety, investing in an
Asset Protection Corporation in Panama will have you laughing
all the way to the bank.
For our discounted fees for forming a Panama Corporation,
please see the link below, or contact us for more information.
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