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
How to set up offshore company.
Prices for setting up offshore companies.
Click here for consultation