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Panama companies vs. other jurisdictions, offer multiple advantages, especially for Italians. Discover the top 10 advantages
Buying a Panama company offers multiple tax advantages, including the ability to avoid foreign income and capital taxes. This means you can enjoy greater flexibility in managing its affairs and greater privacy in its investments. In addition, buying a Panama company offers privileged access to the international market.
Second, Panama companies have a well-defined and stable legal regime, with a reliable and highly protective legal system. In addition, Panama offers great flexibility in the incorporation and management of companies, which results in less bureaucracy for company owners.
Finally, buying a Panama company offers the opportunity to diversify your investments, increasing your protection against economic and political risks in your country.
In conclusion, buying a Panama company offers numerous tax, legal, and business advantages that can help you diversify your investments, reduce your risks, and increase your earning potential.
Let's look at the top 10 advantages of Panama companies
- Tax exemption on foreign income even for small businessmen, whereas, for example in Dubai they will tax income over $100,000;
- No need to file tax returns or submit financial statements to a public registry, as in the United States or Belize;
- Reduced costs compared to other jurisdictions such as the Bahamas, Cayman or Dubai.
- Founders and directors can be foreign, although to maintain privacy most clients require named founders and directors. In addition, the beneficiary of a Panama corporation may also be one;
You can form the company without traveling to Panama, all online. Registration is fast and controllable online;
Other advantages of Isthmus companies include
- Ability to apply for bearer shares even though this creates inconvenience with banks and financial institutions. Used mainly for holding companies; Ability to include various types of activities in the corporate purpose by specifying them as desired. Anglo-Saxon companies, on the other hand, require you to specify one activity or you must include the words “general purposes.” Not being able to specify various activities can be limiting with contractors, public institutions, or banks;
- Have portable phone numbers. Banks and your customers will want to communicate with a phone number from the country where the company is registered and will be wary of companies that use phones from other countries. Try to find VoIP phones or mobile phone numbers from Belize, Cayman, Nevis, St. Lucia in the market–you won’t find them. In Panama we have this service for both fixed and mobile numbers. You will be able to answer calls and receive text messages from PayPal, banks, WhatsApp or social networks, even if you are on the other side of the world;
- Another interesting aspect is that to form a company in Panama, the required share capital is nominal and does not need to be deposited in liquid form in a Panamanian bank account, thus simplifying the company formation process.
- Establishing a Panama company is the first step in obtaining Permanent Residency in Panama for Italian citizens. These enjoy the benefits of the Treaty of Friendship, Commerce and Navigation between the Republic of Panama and the Italian Republic. The biggest benefit of this treaty is that one can take permanent residency with less than 5 thousand euros: with no obligation to reside in the country, nor to return periodically. In addition, after 5 years of residence it is possible to apply for naturalization. Once you obtain citizenship you have a prestigious passport and additional citizenship.
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