Panama Offshore Company

Many investors use offshore companies for a host of reasons which include Offshore Asset Protection, Confidentiality, Privacy, Tax Saving, International Trade, and Estate Planning.

Selecting the right offshore jurisdiction is an important aspect of offshore company formation. It is essential that you should be very careful while selecting the offshore jurisdiction. A through and careful search of the areas will tell you that Panama is the right place for formation of your Panama Offshore Company. You will be surprised to know that the Panama corporation law came into existence more than seventy years ago and has been copied by other offshore jurisdictions including tax havens. Do you know that there are more than 500,000 offshore companies registered in Panama? Panama is a very peaceful country without any military forces. Panama has the lowest crime rate in all of Central and South America.

Formation of a Panama Offshore Company offers you the following benefits:

• Panama is a complete tax haven and you enjoy the following advantages:
1. There is no income tax.
2. There is no tax on capital gains.
3. There is no interest on income tax.
4. There is no sales tax.
5. There is no tax on corporate shares issued.
6. Shareholders are not taxed.
7. There is no property or gift tax.
8. There is no stamp tax.

• You will find that Panama has the most favorable incorporation laws. Private interest foundations are also available here. There is no reporting requirement for non-resident Panamanian companies.
• Share certificates can be issued in a bearer form.
• The directors, shareholders, and officers of the offshore company may belong to any nationality and can be a resident of any country.
• It is not necessary for the directors and officers of the offshore companies to be shareholders.
• Corporations which conduct business outside Panama do not need any commercial license for offshore business activities.
• Panama has no currency exchange controls or currency restrictions.
• Panama has the best banking and corporate book secrecy laws in the world. Therefore it is the most secure offshore financial center.
• Panama does not have mutual legal assistance treaties with any country.

Here are some guidelines to help you form a Panama Offshore Company:

• Two local persons are appointed to act as the organizers and subscribers for the purpose of incorporation.
• A minimum of three directors are required.
• The President, Treasurer, or Secretary can be natural persons or corporations. An officer may hold more than one position, but the President and Secretary cannot be one and the same person.
• The meetings of the shareholders / directors can be held by any means of communication. The meetings, if necessary, may be held anywhere in the world.
• There is no requirement for Annual General Meetings of the shareholders or directors.
• Panama corporations do not require paid-in capital.
• No books or records have to be kept by an offshore Panamanian company.
• There is no requirement to prepare or file financial statements.
• A Stock Register and Minutes Book must be maintained.

Panama definitely looks like a wonderful place for you to incorporate your Panama Offshore Company.