Offshore Panama
Benefits of Panama Offshore Company:
Panama is a very well established jurisdiction, which has built a good reputation over the years of its existence. Companies registered in Panama pay tax only on income from Panamanian sources. Panama offshore company operating abroad need not pay any direct or indirect taxes. Instead, they pay a modest fee to the Panamanian government. In case of companies not conducting business in the territory of Panama, is not necessary to submit any statements to the authorities.
Bank account for Panama offshore company: Euro Pacific Bank, Belize Bank International, Pacific Private Bank, Atlantic International Bank.
Panama offshore company registration in 5 steps:
STEP 1: Place your order
STEP 2: Pay the fee for Panama offshore company formation
STEP 3: Our Project Manager contacts you and requests that you send the necesary documents
STEP 4: You receive foundation documents from us
STEP 5: You are able to start your business
Customer satisfaction rate:
Documents required for Panama offshore company formation: certified copy of passport or ID card, proof of address (not older than three months).
Colone is the second largest duty-free area in the world after Hong Kong and taking advantage of it is an attractive option. All transactions in goods, including raw materials and semi-finished products are subject to special tax treatment – export to third world countries is completely exempt from Panamanian duties and taxes and revenue from these transactions are subject to taxes with an extremely low rate.
Panama Offshore Company:
Legal form
Non-resident companies
Duration of establishment
5 – 7 days
Register of executives
Publicly accessible
Register of shareholders
Voluntarily accessible
Registered capital
10,000 USD
Minimum paid-up capital
1 USD
Minimum number of shareholders
1
Minimum number of executives
3
Non-residents allowed as executives / legal person
Yes / Yes
Registered agent / seat required
Yes / Yes
Local company secretary required
Yes
Local General Assembly required
No (anywhere in the world)
Submission of financial statements
No
Submission of annual reports
No
Mandatory audit
No
Required tax return
Voluntary
Taxation of income
No
Possibility to use a Double Taxation Avoidance Agreement
Yes
About Offshore Panama
Panama is a coastal country located in the southern part of Central America, between Costa Rica and Colombia. It is particularly known due to the strategically important Panama Canal linking the Pacific Ocean to the Atlantic ocean. The Panama territory was colonized as early as in 1508 by the Spaniards.
After its declaration of independence in 1821, Panama joined the United Federation of Colombia, from which it gained independence in 1903. In the same year it signed a contract with USA, which allowed the construction of the canal in Panama, while guaranteeing its administration to USA. In 1999, the canal came under the administration of Panama. Its economic dependence on the
United States is understandable due to historical reasons. It is reflected not only in the monetary area (free circulation of USD in Panama), but also in the influence of Anglo-American law. Panama is a country with a continental legal system, based on the Spanish one.