The Republic of Panama has become one of the best-known offshore jurisdictions mainly due to its geographical location rather than a deliberate attempt to be one. However, the country’s geographical position and possibility to obtain tax-exempt status for companies have succeeded to attract multinational corporations, re-invoicing centers, different banks and also small manufacturing companies. By setting up a Panama offshore company, investors can save loads of money which they otherwise would have to pay as taxes.
Panama is mostly considered in the international community as a country with wide range of investment opportunities than as a tax evader.
Who should choose Panama company:
- Stockbrokers / Forex traders.
Panama is an ideal jurisdiction for:
- International trade,
- E-Commerce and E-Shop business,
- The custody of movable and immovable property,
- Operation of Internet portals of almost any kind,
- Inheritance purposes,
- Intellectual property management.
|Incorporation of the company||3 – 4|
|Delivery of original company documents||15|
|Offshore bank account opening||20|
Interest of the jurisdiction of Panama
Major advantages of Panama offshore company:
- Corporation tax – 0%,
- Politically stable jurisdiction with good reputation,
- There is no minimum capital required for establishment,
- Business can be conducted worldwide,
- Flags of convenience for shipping purposes,
- An offshore company offers unlimited liability protection,
- There are no requirements for fiscal accounts or document storage,
- There are no permanent establishment costs (no rental fees),
- Well-developed legal infrastructure,
- Nominees are allowed in all executive positions within the offshore company.
Disadvantages of Panama company:
- A minimum of three directors are required for Panama company incorporation.
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