Why go Offshore

People use offshore corporations and foundations for several reasons including Offshore Asset Protection, Confidentiality, Privacy, Tax Minimization, Investment Diversification, International Trade, Estate Planning, and much more. A carefully designed corporate strategy using a Panama Corporation and/or Private Interest Foundation can assist you with each of the above mentioned areas.

Asset Protection

Offshore Asset Protection: By transferring your assets to a Panama Corporation and/or Foundation, you are automatically protecting your assets to the fullest extent. Without asset protection, you could suddenly lose everything you've worked so hard for. We live in a "litigious society", but do you know what that means to you? Lets take a look:

- 9 out of 10 lawsuits in the world are filed in the United States. The US has the highest rate of lawsuits in the world, followed by the UK, Canada, Australia, and New Zealand.

- A new lawsuit is filed every 30 seconds in the US. It is estimated that there are over 100,000 law school students in US law schools right now.

- If you own a business or practice a profession, you have one chance in three of being named a defendant in a lawsuit in the next year, and it is only getting worse.

Why you must act NOW to protect yourself:

Many people are completely unaware of one important legal fact of life...

Once someone files a lawsuit against you - or makes any other type of claim on your assets - it's too late to try to protect your wealth, 'get rid of it,' or move it offshore. (To do so is called "fraudulent conveyance" or "concealment of assets" - crimes in themselves.)

That means, if you wish to protect yourself, you have to act now, before it is too late. You must move your wealth offshore ahead of time for your asset protection plan to do any good. If you wait until you're facing trouble, you will certainly be out of luck.

If you quietly and inconspicuously move a portion of your wealth to a private, offshore corporate account, it can be virtually out of reach from anyone who might try to seize everything you own, whether it be a lawsuit or even a governing authority who decides to freeze your assets.

This is where your private offshore corporation and offshore bank account can come in very handy. Your private corporate account, held by a foreign bank in a country with the strongest bank-secrecy laws on earth is truly the best asset protection you'll find.

You could be left penniless and in debt by any of the following:

- A negligence or injury claim, whether justified or not, that exceeds any insurance coverage you may have.

- Breach of contract through no fault of your own.

- A professional malpractice lawsuit.

- Lawsuits from disgruntled business partners or employees.

- Divorce.

- Huge fines for violating state or federal law due to actions of an employee.

- Claims from creditors if your business should fail.

- Catastrophic medical bills.

- Seizure of your home or other assets without due process by the customs or other government agencies with forfeiture power, including the IRS seeking federal income tax collections and other income tax debts..

- A huge federal income tax bill and escalating penalties following an IRS or Revenue tax audit.

Quote: "I thought I had it all - a beautiful home for my family, the car I had always wanted, a growing portfolio of investments, children in excellent schools, dream vacations with my wife, etc. But that all changed when I was served with process naming me as a Defendant in a huge lawsuit. It didn't matter that I was convinced that I had done nothing wrong. I lost everything I had. I still owe my attorney for the legal costs." - Terry James, LA.

Confidentiality & Privacy:

Many people move assets by creating a company offshore simply because they are tired of intrusion into their financial privacy in their home countries. Today, citizens from the US, Canada, UK, Australia, New Zealand, and many other countries have zero privacy in their financial affairs, spending patterns, medical records, etc. One of the main reasons that Panama is one of the most popular jurisdictions to incorporate offshore is because Panama offers the utmost in privacy and confidentiality.

IBC ( International Business Center ) is another way of describing an Offshore Corporation. An IBC Bank account provides an additional shelter and asset protection worldwide.

- Panama offers the best bank secrecy laws in the world with an Offshore Bank Account.

- Panama offers the best corporate secrecy laws in the world.

- There is no such thing as "piercing the corporate veil" in Panama.

- Revealing banking information to third parties is a crime, punishable by prison.

- Panama has no mutual legal assistance treaties (MLAT's) for sharing of banking information with any other nation and does not recognize court rulings from other countries.

- Panama Corporations offer "Bearer Shares", for shareholders to maintain complete anonymity and privacy.

- Panama Private Interest Foundations allow for Private Protectorate Documents and Private Letters of Wishes, enabling controllers (Protectors) and beneficiaries of foundations to remain completely anonymous and private.

Quote: "Two months after I created my IBC, I got hit with a big lawsuit for something that was not my fault. Instead of spending a lot of time and money defending the suit, I had my lawyer explain to their lawyer that I didn't own anything. And it was all over! They could not verify any of my assets that were sheltered offshore." - Steve Richards, NY, USA.

Income Tax Minimization:

You can minimize your domestic income taxes by using Panama Corporations for international trade, investments, domestic business ventures, etc. Panama is one of the most popular jurisdictions in the world to incorporate because Panama is a 100% tax haven. Panama corporations and foundations offer the following tax benefits:

· No income tax.

· No capital gains tax.

· No interest income tax.

· No sales tax.

· No tax on issuance of corporate shares.

· No tax to shareholders.

· No stock sale or transfer tax.

· No capital stock tax.

· No property tax.

· No estate tax.

· No gift tax.

· No stamp tax.

· No succession tax.

· No inventory tax.

Quote: "I have been able to save hundreds of thousands of dollars in capital gains taxes by investing through a Panama IBC. Plus, my securities portfolio is private and safe from lawsuits or intruders, and my kids will inherit the assets free of taxes or legal issues. I wish I had known about this 20 years ago!" - Derek Little, BC, Canada.

Investment Diversification:

Many people use offshore corporations to take advantage of offshore investment opportunities and diversify their investments internationally. Many countries (such as the US) have laws which restrict their citizens from investing in offshore mutual funds, stocks, or offshore private placement investments. Panama corporations and foundations are not restricted from any type of investment in the world.

Through the insured offshore corporate brokerage account that we offer with our corporate packages, you can invest in any domestic or offshore mutual funds, stocks, bonds, options, money markets, etc. on any major exchange around the globe.

Offshore Merchant Accounts also provide you with the ability to collect fees offshore beyond the jurisdiction of federal tax authorities,

There are several advantages to doing your offshore investment business in Panama:

· Panama is home to the second largest international banking center in the world next to Switzerland.

· Panama's circulating currency is the US Dollar.

· Panamanian banks pay higher interest rates on USD savings accounts and CD's than any other banks do.

· Panama has a very sophisticated, developed, and stable banking infrastructure. To obtain a banking license to operate a bank in Panama, it takes over US$15 million in required capitalization, not to mention additional government fees, regulatory building requirements, extensive references, audits, etc. In other jurisdictions such as Bahamas, St. Vincent, Grenada, St. Kitts, Nevis, Vanuatu, Montenegro, and many other countries, one can obtain a banking license for as little as US$50,000.

· Panama's Stock Exchange is of the most advanced in Central & South America.

· Panama is home to the second largest international distribution center (free trade zone) in the world next to Hong Kong. Other tax havens such as Bahamas, St. Vincent, Turks & Caicos, Vanuatu, Isle of Man, Antigua, etc. are nothing but tax haven island nations who depend on tax evaders and tourism. Panama is a genuine international business trade and banking center, not just a tax haven.

Quote: "When I found out that I could put my money into a Panamanian bank CD paying 9% interest per year, I couldn't believe it. So I flew down to Panama from my home in France and verified it for myself - it was true. I made the deposit and the bank has provided me with great service!" - Pierre Tous, Paris, France.

International Trade:

Panama corporations are extremely useful for international trade. Panama is home to the second largest international distribution center ( tax free zones ) in the world next to Hong Kong. Many of the worlds largest companies such as (Tommy Hillfiger, Sony, Panasonic, etc.) set up distribution centers in Panama's tax free zones. Since the Panama Canal is strategically located in the center of the Western Hemisphere, Panama is the perfect location for goods to be distributed internationally, and tax free. Panama's tax free zones allow companies to import and export products from Panama without any import or export taxes.

Many companies also use Panama corporations to "triangulate" their international trade business, for maximizing profits.

Let's take a true example of a client of Panama Offshore Services International, Inc.; A US company imports shirts from Brazil. The US company pays US$1 per shirt to their Brazilian supplier, plus US$0.25 per shirt for shipping, and US$0.25 per shirt for import duties (taxes) to the US. Hence, the US companies total cost for importing the shirts are US$1.50, plus their overhead and operation costs are approximately US$0.50 per shirt, meaning that their total cost of business is US$2. The US company sells these shirts for US$10 each, earning a profit of US$8 per shirt. The US company is then taxed on approximately 38% of the profit, meaning that they pay US$3.04 per shirt in taxes. They generally import and sell 10,000 shirts per month, meaning that they pay US$30,400 in taxes per month!

The US company then decided to triangulate their business using an offshore corporation. By creating an intermediary offshore distributor in Panama, the US company was able to minimize their US taxes, and accumulate wealth offshore in a tax free environment. Now, instead of their US company buying directly from the Brazilian supplier, they order from the Panamanian company for a market up price. In essence, the US company orders10,000 shirts from the Panamanian corporation for US$5.50 per shirt, then pays US$0.25 per shirt for shipping, plus US$0.75 per shirt in import duties, for a total of US$6.50 per shirt. Their overhead and operation costs are US$0.50 per shirt making their total business cost US$7 per shirt. They sell each shirt for US$10, now making a US reportable profit of US$3 per shirt, upon which they pay 38% tax, meaning that they now pay only US$1.14 per shirt, or US$11,400 per month in taxes. That is a monthly tax savings of US$19,000 per month, or US$228,000 per year!

Quote: "Most people don't know the strategies and techniques that are available for minimizing taxes on importing. Triangulating my import business has increased my bottom line by 3 fold just in the first 9 months. The nice thing is that no one knows that I have socked away all this money offshore from my import business except for me. Doing this has really provided me with a lot of security for the future." - T. Williams, TX, USA

Estate Planning:

Most of your estate could go to the government, not to your heirs. Because a corporation has a life of its own, a carefully designed corporate strategy allows you to care for your loved ones free from probate, inheritance taxes, and other legal and tax problems. Your heirs can inherit the assets that you leave for them, exactly as you left them, free of deductions or legal delays.

Panama Private Interest Foundations are the ideal estate planning entity for the following reasons:

· Foundations can hold assets such as corporations, bank accounts, brokerage accounts, real estate, or any other type of asset, free of taxes or reporting requirements.

· Foundations can have a nominee foundation council and the foundation council members can be from anywhere in the world or replaced at any time by the Protector.

· Foundations Protectors (controllers) can be appointed through a Private Protectorate Document, allowing the Protector to control the foundation privately and anonymously.

· Foundations Beneficiaries can be appointed by the Private Protector through a Private Letter of Wishes, allowing the beneficiaries to also remain private and anonymous.

· The Foundation and the Foundations beneficiaries have no reporting requirements and pay zero taxes when assets are donated to or received from the foundation.

· The Foundation can be used as a charitable entity, for receiving donations or donating to anyone that the Protector designates, free of taxes or reporting requirements.

Quote: "The last thing I want to do is give away 50% of my money to the government when I die. I want my children to have what I have worked all my life for, and they shouldn't have to fight with the government over it. What right is it of the government to take my money just because I'm gone? I just won't allow that to happen." - Marian Stark, AZ, USA.

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