Benefits And Features Of A Panama Company
Here below is a list of the benefits of forming a company in Panama and the features it has after formed. There are many good features and benefits of this marvelous offshore company in Panama. This list is not exhaustive, but gives you enough to know that a Panama corp. can be a very wise choice for privacy minded entrepreneurs.
Second Most Popular Jurisdiction in the World: It is the second most popular jurisdiction to incorporate in the world, next to Hong Kong.
- No Reporting Requirements or Taxes In Panama: This applies to the non-resident treated company that will be set up for you.
- No Piercing the Corporate Veil: Your corporate books are kept 100% private and confidential by Panamanian law.
- Anonymous Ownership: Panama corporations share certificates can be issued in an anonymous form of ownership. The directors nor the officers of Panama corporations are required to be shareholders.
- No Capital Requirements: Panama corps don't require Paid-In Capital. No time limit is imposed on when the capital is due.
- Nominee Directors: For reasons of confidentiality, most clients prefer nominee directors/officers for the corporations they set up.
- Directors or Shareholders Meetings: Annual general meetings are not required. Meetings if held, can take place anywhere in the world by proxy - via phone, email or other means. All resolutions passed are valid regardless if they are signed on different dates or in different jurisdictions.
- Corporate Books: The Registered Agent is not mandated to maintain any records for the corp., however, every corp. should keep a minute book and stock register, anywhere they want to in the world.
- Subscribers: The two subscribers are provided by the law firm in Panama. They appear at the Public Registry with the articles of incorporation in order to incorporate the corp. successfully. Right after the corporation is formed and registered, the subscribers sign a document and thereby resign their rights to owning one (1) share of the corporation. This resignation document is provided to you.
- Annual Corporate Franchise Tax: Non-resident Panama corporations pay a small tax to stay in good standing. The initial US $250 franchise fee is paid at the time of incorporation. It is all part of the annual renewal cost of the corp which includes the registered agent costs.
- No Business License Requirement: Non-resident Panama Corps don't require a license to operate globally.
- Re-Domiciliation: Corps from other jurisdictions may be moved to Panama. Many people who have companies in other jurisdictions are moving their corps to Panama.
- Corporate Seal: This is optional. This seal can be ordered locally near where you reside because of the low cost in ordering it this way.
- Legal Address: A legal physical address is provided to your company by the Registered Agent.
Disclaimer: We do not offer this information package to U.S. citizens. If U.S. citizens want the very best asset protection they can order the special asset protection package especially for U.S. citizens and residents. The Panama corporation is only for those who need one of the very best anonymous and private companies that rivals the respected and time honored Hong Kong company.