Panama city

Learn about the benefits of create an IBC in Panama:

Among the benefits that are specifically enjoyed are the following:

  • Panama offers complete tax exemption on foreign source income and on transactions carried on outside the Republic of Panama, even though it is managed from Panama.
  • The companies are not required to file annual accounts
  • They only have to pay an annual fee within 3 months of incorporation and on every anniversary thereafter
  • These corporations can conduct business and exercise their powers from foreign countries.
  • They can borrow money, incur in liabilities in connection with their business or for any lawful purpose, issue bonds, promissory notes, bills of exchange and other debentures
  • Panamanian corporations cannot be forced to divulge confidential information to the country's or foreign authorities
  • Bearer shares are allowed
  • If the company has a bank account, the identity of the bank account holder cannot be divulge, unless deposits are guarantees of assets and the accounts are under investigation by the Superintendency
  • There are no exchange controls in Panama, and corporations may transfer funds with complete freedom
  • Transactions may be carried out in any currency
  • Two natural or legal persons, not necessarily residents in Panama, can act as shareholders and directors.
  • There is no minimum of share capital
  • The books, records, account, etc., may be kept by electronic means and can sit anywhere in the world

Related topics:

How to set up offshore company.

Prices for setting up offshore companies.

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