PANAMA- offshore company formation

Panama may be called a hub in two dimensions: its territory joins North and South America, and the Panama Canal is a shortcut between North Atlantic Ocean (via Caribbean Sea) and North Pacific Ocean.

It's a constitutional democracy. The pillars of the local economy are banking, commerce, mining, and tourism. Though Spanish is the official language, English is widely used in business communications.
The extensive national offshore industry has distinguished itself with advanced underlying legislation (e.g. GENERAL CORPORATION LAW, 1927 is based upon Delaware corporate Laws).

Panama IBC

A Panama IBC can provide legal protection of assets and identity. Panama offers some of the most strict banking and financial secrecy laws available in the world. A Panama IBC is the ideal jurisdiction for international investors and businessmen to operate an offshore corporation.

Panama IBC law uses what we consider to be some of the most solid banking and corporate book secrecy laws in the world. These secrecy laws are engraved in its constitution. With Britain's proposed regulation for removal of bank and corporate book secrecy in Britain's offshore territories, it is clear that Panama remains the most secure offshore financial center - where privacy and confidentiality is not only respected, but also vigorously protected by constitutional law.

Panamanian S.A. Corporations Offer The Following Benefits:

- Non-resident Panamanian Corporations (Panama IBC) do not pay Panamanian tax on income
- No reporting requirements to the Panamanian Government
- No minimum capital requirement for establishing the corporation
- No restrictions to foreigners in forming or controlling Panamanian Corporations
- Corporate shares may be issued in "bearer" form (for privacy - he who holds the shares owns them) with or without par value
- Meetings of directors & shareholders may be held anywhere
- The accounting books of the corporation may be organized & kept anywhere
- The registered agent is not required to keep any records for the corporation

Banking or brokerage business conducted in Panama by non-resident Panamanian corporations is not considered actual trade within Panama. Thus, the income derived from these types of business transactions or investments (profits on stock trading or interest earned through the Panama IBC) is exempt from Panamanian taxes.
 
Generally, the only documentation on public record is the deed (or articles) of incorporation. This document only provides the names and addresses of the officers & directors plus the Registered Agent at the time of incorporation. The beneficial owners of the corporation are not required to be recorded in the Public Registry. Annual general meetings of either shareholders or directors of the corporation are not mandated or required. If meetings are held, they can take place anywhere in the world by proxy - via telephone, email or other electronic means. Any resolutions passed are valid regardless of if they are signed on different dates or in different jurisdictions. 

PANAMIAN INTERNATIONAL BUSINESS COMPANY FEES STRUCTURE

1) Incorporation package US$550.00

The offshore incorporation package comes complete with Articles of Incorporation, notarized Power of Attorney with Apostille, Bearer Share Certificates, Minutes of Board Resolution, Letters of Resignation from Directors, Certified English Translation of documents. Certificate of Incorporation with Apostille not included.

2) Nominee Directors Set Up Fee (3) US$ 450.00  

3) Resident Agent & Reg Address SUp Fee US$ 300.00  

4) Certificate of Incorporation with Apostille US$ 175.00  

5) Government Franchise Fee for First Year US$250.00

6)  Mail Forwarding (Includes P.O. Box and Physical Address in Panama) (Optional)  U$450.00 p.a.

Renewal fees

US$750.00 per year per corporation for the nominee directors (3) and the resident agent (1) payable by anniversary date of incorporation,
and US$300.00 (law 6 of february 3rd of 2005) for the government after the first year (second year on) which is payable also by anniversary date of incorporation.

IMPORTANT NOTES

We reserve the right to change fees without notice.
The payment options are: wire transfer.

Copyright Asset Protection s.r.o. © 2007, All rights reserved.
Asset Protection s.r.o. is not a law firm and does not provide legal advices or legal services. We recommended to consult licensed professionals with regards to local tax and legal matters.