Panama Offshore Corporation

Many people choose to set up their Offshore Corporation in Panama because it has some of the strictest banking and financial secrecy laws in the world. Privacy and confidentiality is not only respected, it is vigorously protected by constitutional law. In addition, Panama is a sovereign nation that has not entered into any Mutual Legal Assistance Treaties with any other country.
The benefits of a Panamanian S.A. Corporation include the following:

• Strict banking and financial secrecy
• No income taxes for non-resident Panamanian Corporations
• Low annual fees ($150) for non-resident Panamanian Corporations
• No governmental reporting requirements
• No minimum capitalization requirements
• No citizenship requirements for corporation’s Officers, Directors or Shareholders
• Freedom to issue bearer shares with or without par value
• No requirement to hold annual general meetings of either Shareholders or Directors; if meetings are held, they can take place anywhere in the world via proxy
• Ability to organize and locate accounting books of the corporations wherever desired
• No Panamanian taxes on profits on stock trading or interest earned through the Panama Offshore Corporation
• Ability to move funds in and out of the country with ease due to relaxed banking laws

Unique Asset Protection and Estate Planning Vehicle Available

Panama also offers the Panama Private Interest Foundation, a very useful asset protection and estate planning vehicle. If the Controlled Foreign Corporation (CFC) rules in your home country are stopping you from pursuing your desire to control and maintain ownership of a foreign corporation, the Panama Foundation may be right for you. Instead of holding a corporation’s shares in your personal name or in bearer form, you can establish a Private Interest Foundation to hold or own the corporate shares. This removes ownership from your personal name and places it in the name of a foreign entity whose ownership is anonymous.