Panama Company


 

"There is nothing sinister in so arranging one's affairs as to keep taxes as low as possible. Everybody does so, rich or poor; all do right. Nobody owes any public duty to pay more than the law demands; taxes are enforced extractions not voluntary contributions !"

-US Judge Hand-

Panama

International investors, financiers and businessmen find Panama an ideal foreign base country for worldwide operations and transactions. Panama taxes according to the territoriality principle (that is, it does not tax foreign-source income), only the income produced locally is taxable, disregarding the citizenship of the taxpayer. Dividends are not included as income subject to income tax.

Due to its structure, geographical position, political stability and characteristics of its economy, Panama has become one of the most important tax havens of the Western Hemisphere. It has excellent international transportation and communication systems; the United States Dollar has been a currency of legal tender for more than ninety years.

Panama has taken several steps to modernize its economy and promote foreign investment. Most Panamanian and foreign investors choose to form Corporations. There are no exchange controls, currency restrictions or reporting requirements and imposes no limits on monetary transfers to and from the country.

 Benefits:

  • No reporting requirements. 
  • It is possible to keep a business under direct control while maintaining complete confidentiality. Names of beneficial owners are not publicly available.
  • It is not required to file any changes to ownership schedule, after the registration is complete.
  • It is not required to maintain a legal address.
  • No citizenship or residency requirements or restrictions with respect to owners, directors and officers as with most other tax havens.
  • Stockholders' and directors' meetings may be held anywhere in the world.
  • Capital shares may be issued in a nominative form, or to "bearer" - the  ideal protection of the Company owner's identity and total privacy. 
  • Funds and accumulated offshore profits can be deposited or invested in any country in the world without becoming subject to taxation in Panama.
  • One person might hold all three positions of a President, Corporate Secretary and Treasurer. 

OTHER COMMON ADVANTAGES OF FORMING A PANAMA COMPANY ARE: 

  • Ultimate financial privacy
  • Asset Protection 
  • Income Tax Reduction
  • No inheritance, succession or gift taxes
  • Protection from inflation
  • Reduction in legal liabilities 
  • Reduction in operating expenses
  • Freedom from currency exchange control
  • Local Government concessions, subsidies and support
  • Data on owners and directors are not publicly available and remain confidential
  • Easy access to North American and European capital markets
  • No international trade tariffs. 
  • No annual tax return requirements. 
  • No import/export quantity limitations.
  • No costly bureaucracy.

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Upon registration of your Panama Company you will receive the following Certified Documents.

 
check01c.gif Statutory document in Spanish with a copy in English.
 
both with Apostille
 
check01c.gif Certificate of InCorporation with Notarial Seal and Apostille.
 check01c.gif
A General Power of Attorney with the signature of two of the Nominee Directors, Notarial Seal and Apostille.       
 check01c.gif 
Two (2) Share Certificates to the bearer signed by two of the Directors of the society.
 
check01c.gifThe resignation of the subscribers of the Constituent Act.
 check01c.gif 3 Nominee Directors
 check01c.gifThe first year for the service of Resident Agent is included on the sale price

Note: A scan of a passport is required for the company representative whose name will appear on the Power of Attorney.

Panama Company annual fees:

Second year Government tax $300 ($50 late fee applies): must be paid before June 30th or before December 31st if registered after June 30.
Resident Agent and Nominee Directors $300
Total: $600/year

      
Total $950 US Includes first year Government tax of $250

 

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 If you require any more information about registering a Panama Company Please contact us


Panamaibc.com is a service company and
does not offer legal or financial advice.

email: info@ panamaibc.com


 



 

 

 

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