Offshore companies in Panama are quite attractive since they don’t pay taxes if they don’t operate in the country itself and can have bearer shares
Offshore companies in Panama offer multiple advantages that go from paying zero taxes to the anonymity of the shareholders and simplified administration. There are no restrictions on the directors’ nationality; nor are there such restrictions for the beneficiaries. These companies are only recommended to not carry out business in Panama so that they won’t have to pay taxes.
Package includes Act of incorporation registered and apostilled, first-year Tax, Resident Agent, nominee directors, business address, and sending by registered mail. Renewal each year is 650 EUR.
What can you do with an offshore company in Panama?
The objectives of offshore companies in Panama are quite diverse. Practically every legal business can come to be with one of these companies. The stockholders and directors of the offshore companies can be of any nationality and reside in any country.
According to Panamanian law, anonymous companies can issue nominative shares and also bearer shares. In the latter case, said shares will have to be delivered to an authorized Custodian (bank, central depository for securities, authorized lawyers, etc.).
Anonymous companies don’t pay any taxes in that country if they operate abroad. To use this important advantage, it’s necessary that all commercial actions or transactions be carried out, outside of Panama.
The accounting books of the offshore companies in Panama can be kept in Panama or abroad. Plus, there’s no need to present the financial status or deliver declarations of the annual income. Starting in 2022, it will be necessary to send an electronic copy of the accounting to the Resident Agent.
How to form a corporation in Panama
To form an anonymous company with Caporaso & Partners, you must fill out an application form. Include two or three proposals for naming your company, in order of preference.
These names can be in any language. You must include any one of these suffixes: Inc., Incorporated, Corp. Anonymous Company, A.C., Ag, A copy of your passport or identification document, proof of address, and a list of some bank and professional references.
According to Panamanian law, every anonymous company must be able to count on at least three directors, in the position of President, Secretary and Treasurer. These directors can be natural or legal persons.
One person can hold the three positions and, in this case, two vocal directors will have to be nominated. You will have to send the names of the three directors, and the photocopy of their passports. If you don’t have them, Caporaso & Partners can offer the nominal directors for your anonymous company in Panama without additional expense.
Through your email, you will receive information on whether the names that you’ve chosen for the anonymous company in Panama are available or not.
The prices for the formation are published on the site in the menu Application Services. These consist in professional fees for Caporaso & Partners, notarial expenditures, expenditures for incorporation of the anonymous company and the price for sending the documentation.
What I need to know about keeping the accounting of an offshore company in Panama? Download right now the free Guide about How to keep Accounting Records in Panama
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