 Panama
its a beautiful country, for investments and business. The
isthmus constitutes the southern most part of a natural land
bridge between the continents of North America and South America.
It borders Costa Rica to the west, Colombia to the east, the
Atlantic Ocean to the north and the Pacific Ocean to the south.
Panama's Business Services include the Panama Canal, International
banking center, the Colon Free Zone, insurance, container
ports, flagship registry, and other business. Panama's economy
is service-based, heavily weighted toward banking, commerce,
and tourism, because of its key geographic location. The economy
is based primarily on a well-developed services sector that
accounts for nearly 80% of GDP.
Ethnically, the majority of the population is mestizo or
mixed Spanish, Indian, Chinese, and African descent. Spanish
is the official and dominant language; English is a common
second language spoken by many in business and the professions.
More than half the population lives in the Panama City and
Colon metropolitan corridor.
Panama's political divisions are 9 provinces ( Bocas del
Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos,
Panama, Veraguas ), 75 districts or municipalities, 5 indigenous
comarcas, and 620 "corregimientos." Panama is divided
into 9 provinces (provincias) and 3 provincial-level indigenous
territories (comarcas indígenas). There are also 2
sub-provincial comarcas, Kuna de Madugandí and Kuna
de Wargandí, which are part of Panama and Darien provinces,
respectively.
Why select Panama
For establishing an offshore structure or financial account
its important make a good election. Panama have the following
advantages:
-
Stable Government - the Panama government its the most
stable in the region and should use the opposite legal
system of your domestic country (if your country uses
common law, you should seek a country that uses roman
law). Panama its safe to visit.
-
Stable Economy - the economy of Panama its very stable.
-
Strict Privacy Laws - We have strict privacy laws that
protect your banking information and corporate book information
from anyone, including foreign governments.
-
Tax Haven - no capital gains tax, no interest income
tax, no inheritance tax, etc.
-
Favorable Incorporation Laws - the corporate laws of
Panama should enable you to hold "Bearer Shares",
have directors from any country, inexpensive, and be able
to incorporate Private Interest Foundations.
-
Stable Currency With No Currency Restriction Regulations
- No restrictions on the movement of funds in or out of
the country.
-
Close Location, Time Zone Compatibility - the time zone
of the country should be such that you can contact your
offshore provider or financial institution during your
normal domestic business hours & fly to the country
quickly if necessary to handle business.
-
Good Banking System - the Panama banking system its advanced
both in areas of banking infrastructure, government auditing,
and technology.
-
Excellent Communications System - the communications
systems of the country should be technologically advanced
in comparison with first world countries.
-
Language Compatibility - the language of the country
should be suitable for your understanding.
-
Panama is one of the most popular places in the world
to incorporate, with currently over 350,000 registered
entities. Panama also offers the Panama Private Interest
Foundation, which is one of the most useful asset protection
and estate planning vehicles available today. The Panama
corporation law was promulgated over 70 years ago and
has since been copied by many of the other tax haven nations
such as Bahamas, St. Vincent, Bermuda, Belize, Isle of
Man, etc.
Another Facts
-
Panama offers the most favorable and most flexible incorporation
laws available in the world. Private Interest Foundations
are also available, and are one of the most widely used
estate planning structures in the world today.
-
Panama is the second most popular jurisdiction to incorporate
in the world, next to Hong Kong. It has registered domicile
for over 400,000 corporations / foundations.
-
Panama corporations share certificates can be issued
in Nominative or Bearer form (anonymous form of ownership),
with or without par value.
-
Panama does not impose any reporting requirements for
non-resident Panamanian corporations.
-
It is not necessary for the interested parties to be
present in Panama for the purpose of establishing a corporation.
-
Corporations conducting business outside of Panama do
not require a commercial license for offshore business
activities.
-
Panama corporations do not require Paid-In Capital, nor
is there a time limit in which authorized capital must
be fully paid.
-
Panama does not allow "piercing the corporate veil".
-
Panama corporations directors, officers and shareholders
may be of any nationality and resident of any country.
-
Neither the directors nor the officers of Panama corporations
need to be shareholders.
-
Meetings of directors, officers, and shareholders may
be held in any country and accounting books may be kept
in any country.
Panama Legal Consultants
- Panama Law Firm -
For more information please contact us:
info@panamalegalconsultants.com
Tel: (507) 6714-9326
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