Offshore Corporations in Panama

Panama offshore corporations are Bearer Share Corporation registered in the Republic of Panama. Incorporated from 1927 the Panama offshore corporations have long made a name for themselves. Panama is one of the world’s top offshore jurisdictions. Services offered in tax haven Panama include incorporation of foundation, offshore bank and bank accounts and registration of vessels and ships among others. Panama is found in Central America.

A Panama Corporation can conduct business operation both inside and out of Panama but is only considered to be offshore if its capital is generated from outside of the jurisdiction. Panama offshore corporations are not taxed on income made from activities and sources outside of the country. A good medium to utilize in tax planning a Panamanian offshore corporation is free from corporate tax, capital gains tax, income tax, estate tax and other taxes. Panama offshore corporation has to pay an annual fee to the government of the Republic of Panama in order for the corporation to remain in good standing.

Taking the time to plan ahead is important at all times. For many years we have guided clients on how to improve life circumstance and increase wealth. One of the ways includes applying for a second citizenship in Dominica. This requires due diligence and following very rigid procedures for applying. Applicants to whom second citizenship is granted may request a certificate of naturalization and are free to apply for passport at any time.

A Panama Offshore Corporation can make assets purchases in its name. Assets normally purchased by corporations include real estate, art, bonds, stock and shares. Panama Offshore Corporations can also have bank accounts in Panamanian banks.

Panama Offshore Corporation issue bearer shares and since these shares do not necessarily need names therefore no one knows who the rightful owners of such corporations are. Nominee services are provided by the registered agents so the names of the owners of companies are not registered in the public registry of Panama.

Panamanian Offshore Corporations can have its shareholders meeting anywhere in the world at any time fitting to the shareholder. Meetings can also be held via telephones or other forms of communications. Any amendments made during the meetings must be agreed upon and signed by all the members or share holders.

Offshore corporations incorporated in the Republic of Panama have no reporting to do to persons or authorities outside of the company. The financial records of Panama corporation can be kept at any location in the world as desired by the shareholders. These records are only accessible by the shareholders of the company.

In order to register a Panama Offshore Company a registered agent must be hired by the client. Recommended registered agents in Panama are mostly lawyers and law firms. To incorporate an offshore corporation a complete articles of incorporation must be submitted. This should include the name of the name of the company, name and address of the director (no less than three), address and name of the registered agent, the objectives of the company and the corporate capital. The by-laws of the company should also be included in the articles of association if there are any. The articles of incorporation can be written in any language. Articles not written in Spanish should be translated. All articles of incorporation must be notarized by a Notary Public in Panama.

Panama Offshore Corporations have many advantages. Being incorporated in a jurisdiction with many decades of experience in registering companies, clients will receive professional service.

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