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"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.
.
Upon registration of your Panama
Company you will
receive the following Certified Documents.
 Statutory document in Spanish with a copy in
English.
both
with Apostille
Certificate of InCorporation with Notarial
Seal and Apostille.
A General
Power of Attorney with the
signature of two of the Nominee Directors, Notarial
Seal and Apostille.
Two
(2) Share Certificates to the bearer
signed by two of the Directors of the
society.
The resignation of the subscribers of the Constituent
Act.
3 Nominee Directors
The 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
Order
Now
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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