Panama Offshore International Business Company
Panama has become one of the most important tax havens of the Western Hemisphere, because of its structure, geographical position, political stability and characteristics of its economy International investors and businessmen alike find Panama as a perfect foreign base country for world-trade operations and transactions. Panama imposes no limits on monetary transfers to and from the country.
Advantages and Benefits
- Well established jurisdiction that has developed a good reputation over a number of years
- Sole ownership is possible
- Registration of shares in public office of Panama is not required.
- Shares can be in the book of share registration which can be in Panama or anywhere in the world.
- Declaration of activities is not required for a Panamanian company that operates outside the territory of Panama.
- Income tax report is not required.
- No residency requirement for any of the owners, shareholders or directors
- No tax levied on income gain outside Panama
- Quick incorporation and minimum maintenance cost
- Bearer share is permitted
- No paid up capital requirement
- Exemption from inheritance tax
- No currency exchange controls
- Legal protection provided for a more secure and confidential business and banking transactions
- Full asset protection
- Funds and accumulated offshore profits can be deposited or invested in any country in the world without becoming subject to taxation in Panama.
|Type of Entity||IBC|
|Type of Law||Civi Law|
|Shelf Company availability||Yes|
|Our Time to establish a new company||2 Days|
|Taxation on foreign income||Nil|
|Double Taxation treaty access||Yes, in a few countries|
|Standard currency of share capital||US$|
|Other permitted currencies of capital||Any|
|Minimum paid up share capital||US$1|
|Usual authorized share capital||US$10,000|
|Minimum number of Directors/Managers||3|
|Local Directors/Managers required||No|
|Publicly accessible record of directors/Managers||Yes|
|Locations of directors/managers meeting||Anywhere|
|Minimum number of Shareholders||1|
|Company Secretary required||Yes|
|Local or Qualified company secretary required||No|
|Requirement for Audited accounts||No|
|Requirement to file accounts||No|
|Publicly accessible accounts||No|
|Requirement to file annual return||No|
|Change in Domicile permitted||Yes|
|Requirement to prepare accounts||Yes|