Having an offshore company in Panama allows you to apply the advantages and flexibility of the country’s legislation when operating commercially and financially as a Panamanian Corporation outside the national territory.
A. Formation of panamanian companies – BVI IBC – Belize companies
- The client is not required to be in Panama to incorporate or buy a company.
- Expedite incorporation procedures and simple ongoing administration are provided.
B. Directors / shareholders
- The shareholders, directors and officers may be of any nationality and may be of any country. Only the names of directors and officers are disclosed to public at the Public Registry.
- Neither the directors nor the officers need to be shareholders.
- Directors and/or officers can be either corporate entities or natural persons.
- Shareholders and/or directors may hold their meetings in any country and may attend such meetings by proxy.
C. Annual meetings
- There is no requirement to hold annual general meetings of shareholders or directors.
- There is no requirement to file annual returns or financial statements.
- Meetings of directors or shareholders may be held via fax, telephone or by any other.electronic means.
- Nominative or Bearer shares, at owner’s option.
- Full tax exemption on any business activity or transaction performed outside Panama.
- Independent of its operations the company would only pay a fixed annual tax fee.
- The company may re-invoice merchandise that is being sold to a client outside Panama. Profits would not be taxable provided the merchandise does not touch Panamanian territory.
- Company books, records and minutes may be kept in any place or country at the choice of the directors.
- No minimum or maximum paid capital is required.
- The company may engage in any lawful business in any country and may carry out transactions in whatever currencies they choose including the opening of bank accounts.
- The company may maintain its offices in Panama or abroad and may as well own real estate and other assets in any other country.
- Complete business privacy and confidentiality.
There are no limitations applicable to an offshore company in Panama. Nevertheless, should a company decide to do business in Panama, it will be subject to pay tax on all its local profits. Shares to bearer must be kept deposited with a bank or local law firm licensed to this end.
HOW TO BUY OR FORM AN OFFSHORE COMPANY IN PANAMA
To form your own company, you must provide us, via fax or e-mail, with the following information:
- The name of the company. The client must provide us with at least two alternative names, in the event one of the names is not available. The name of the company may be in any language and must end in the word, “Corporation”, “Incorporated”, “Société Anonyme” or “Sociedad Anonima”, or the abbreviations, Corp”. , “Inc”., or “S.A.”.The words “Assurance”, “Bank”, “Insurance”, “Trust”, “Finance” or any word conveying a similar meaning, cannot be used to form an offshore company in Panama. Moreover, any name identical or similar to that of a company already existing cannot be used.
- Directors. The client should provide the names and addresses of the directors.
- General Power of Attorney. Under the same charge you may choose to have the Articles of Incorporation establish that the President of the company or any other officer be granted a general power of attorney to bind the company with his sole signature. You should advise us of this selection.
- Other provisions. With the above instructions we shall proceed to incorporate the company using our Standard Articles of Incorporation, which allows the client to carry on any and all type of business.The company is registered two days after we receive your instructions.
- Special clauses. There are some special clauses which may be added to the Articles of Incorporation upon your instructions. Adding one or more special clauses will increase the cost of incorporation. You may ask for our list of special clauses should you choose to amend our Standard Articles of Incorporation to fit your needs.