Panama Offshore Legal Services specializes in offshore Panama corporation formation and management.
Panama offers the most favorable and most flexible offshore incorporation laws available in the world. A Panama corporation can be used by individuals from all over the world who are interested in global asset protection, privacy, investment diversification, tax minimization, affordability and convenience.
Why Form a Panama Corporation?
Panama offshore corporations can be used for international trade, to settle trusts or foundations, to establish an offshore bank account or offshore investment account, to hold ownership of real estate, intellectual property, or to hold any other type of assets. In some cases, clients form a Panama corporation for very private and confidential business transactions such as the movement of funds to another jurisdiction for the protection of the assets, using an offshore asset protection corporation in Panama. In other cases our clients establish several Panama corporations working together for their asset protection needs.
Corporation Anonymity & Bank Secrecy
Panama offers the most strict corporate book secrecy and banking secrecy laws available in the world. In fact, Panama is one of the only countries in the world that still offers the “bearer share corporation”, which is an offshore corporation whose shareholders are anonymous. A Panama corporation provides legal protection of your assets and your identity through the confidentiality of business and banking transactions being conducted through a Panama corporation. Panama is a totally sovereign nation, not governed or controlled by any other country in the world, keeping your business and banking transactions 100% private and confidential.
Law 47 & Bearer Shares
In August, 2013, Law 47 was passed which requires that that corporations issuing bearer shares and everyone in possession of Panama corporation bearer shares to designate an authorized custodian to take possession of the bearer shares. An authorized custodian could be a licensed bank, a Panama attorney (or law firm), Panama fiduciaries, or brokerage houses regulated by the Superintendence of the Panama Securities Market. Additionally, those in possession must submit a sworn declaration providing basic identity information about the true owner and the corporation which issued the shares, as well as its resident agent.
Please note that this law does not obligate Panama offshore corporations to register the names of the shareholders at the Public Registry. Only the corporation’s officers, directors, and registered agent’s names are registered at the Public Registry, and thus Panama has created a creative solution to maintain privacy while attempting to control illegal activities by immobilizing bearer shares instead of eliminating them.
Forming a Panama corporation is easy, quick, and cost effective. Use a Panama corporation to open an offshore Panama bank account and take advantage of Panama bank secrecy laws to provide you with global asset protection. A Panama international business corporation can also be used to open Panama brokerage accounts so you can trade in stocks, bonds, commodities, forex, mutual funds and much more. Under Panama laws, Panama corporations do not pay tax on interest income or capital gains on the purchase and sale of offshore securities (stocks, bonds, commodities, mutual funds, forex, etc.).
A Panama corporation is also referred to as an “international business corporation”, or “ibc”, or “offshore ibc”, or “bearer share corporation”, or in Spanish it is referred to as a “sociedad anonima”, or “anonymous society”.
If you wish to form a corporation in Panama, or are interested in offshore corporation formation services, please don’t hesitate to contact our law offices for further details.
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