Panama

Panama is an Isthmus located in Central America and connects North and Central America to the countries of the South. Panama is an independent republic ruled by a democratic government. Political strength and economic stability based on its use to the US dollar as standard currency and its minimal inflation rate.

Panama offers the most favourable and most flexible incorporation laws available in the world. Panama corporations are used by individuals from all over the globe who are interested in asset protection, tax minimization, privacy, investment diversification, affordability and convenience. Panama corporations can be used for international trade, to settle trusts or foundations, to establish and own bank or brokerage accounts, or hold ownership of real estate or any other type of asset. In some cases, Panama corporations are formed for very private and confidential business transactions such as the movement of funds to another jurisdiction for the protection of the assets.

Panama offers the strictest corporate book and banking secrecy laws available in the world, therefore providing legal protection to your assets and your identity through the confidentiality of corporate business and banking transactions.

Panama is a totally sovereign nation, not governed or controlled by any other country in the world. There are no offshore regimes as such other than the Colon Free Zone and the export processing zones. There are more than 120,000 companies in Panama, most of which trade or hold assets externally. It is reasonably easy to form corporations, and privacy is assured.

Features of incorporating in Panama:

• Taxation in the Republic of Panama is based to the territorial source principle. Therefore incomes obtained from operations performed abroad are not taxable under our law.
• There is no need to file any financial reports or tax returns with any government entity in the Republic of Panama, provided that the company does not operate within the territory of Panama.
• It is not necessary to have a paid-in capital and the authorized capital does not have to be paid in full or partially.
• There are no requirements to file any reports with the Panamanian government regarding any off-shore activities. A small annual government franchise tax fee of USD 250.00 to remain in good standing.
• It is not necessary for the interested parties to be present for the purpose of organizing a Corporation.
• Panamanian Companies can be incorporated without regards to the nationality of its directors and shareholders.
• Meetings of directors and shareholders may be held in any country.
• Share certificates may be issued to the bearer or in the name of its owner and may be issued with or without par value.
• Neither the directors nor the officers need to be shareholders.
• The officers (President, Secretary and Treasurer) do not have to be directors and one person can occupy several or all charges. Natural persons or legal entities can also be appointed as officers.
• Corporations conducting business outside of Panama does not require a commercial license for offshore activities.

Please contact us at info@emetoffshore.com to learn more about incorporating in Panama and if this offshore structure would serve beneficial to you. .Emet Offshore Consultants have extensive experience with offshore Panamanian corporations and can provide an offshore structure in a timely and cost effective manner.