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Know More About Panamanian Asset Protection Corporations

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Panama has established itself as the financial destination to head for after the likes of New York, London, Stockholm and Geneva. You have here almost the entire range of financial infrastructure, like banks, Asset Protection Corporations, Insurance, financial consultants and more to take care of all your monetary matters.

Panama, with as many as 400,000 registered Corporations, presents ample opportunities for offshore banking and asset protection. Created under the General Corporation Law, Law 32 of February 26, 1927, Panama Asset Protection Corporations (as these Offshore Companies are commonly known as) provide the legal framework necessary for conducting legitimate business activities on a worldwide scale.

Akin to other tax havens, no taxes are imposed on the Offshore Asset Protection Companies launched in Panama (excepting the small fixed annual fees) and promises absolute privacy to investors. Forming an Asset Protection Corporation in Panama isn’t a Herculean task by any means – the entire process of incorporation takes no more than 8 working days. You require neither a business license nor any Paid-In Capital to start the Panama Offshore Company.

Hold accounts in Panamanian banks or get involved in businesses on a global scale by investing in Panama’s Asset Protection Corporations. The following information will help you form and operate your Panama Offshore Asset Protection Company:

What The Incorporation Process Involves?

The Incorporation procedure involves the constitution and registration of the Corporation.
This is done through a Panama lawyer (or law firm) who acts as the Registered Agent, presenting the Subscribers before the Notary Public. Once the Corporation is registered, the documents are couriered to the actual investor. (Note: The Registered Agent’s address appears as the legal address of the Panama Non-resident Corporation).

What Will Be The Capital Requirement?

The standard capital requirement for a Panamanian Offshore Asset Protection Corporation is US$10,000.00. However, this is not in the form of Paid-In Capital. In fact, there is no specified time limit in which the authorized capital has to be fully paid. You will have personal liabilities as a shareholder; hence, you will have to clear the company’s debts (to the limit of your share) if and when the company fails to do so.

How Do You Go About Staffing Your Company?

You will need to register the names of Owners or Subscribers (usually two) during incorporation. At least 3 directors, whose names will form a part of the public record, are mandatory to form a Panama Offshore Company.

As said, the Panamanian Non-resident Corporations provide 100% secret investing opportunities and so Anonymous Ownership/Shareholder Certificates will be issued to you in the form of Nominative or Bearer Forms. Again, for purposes of confidentiality, you will need to appoint nominee Directors and officers (for the posts of President, Secretary, Treasurer as well as other officials) for your Panama Asset Protection Corporation. And as the actual Investor/Shareholder, you must have the Power of Attorney.

Taxation And Reporting Requirements In Case of The Offshore Asset Protection Companies

Offshore Asset Protection Companies in Panama do not necessitate Reporting. The Non-resident Panamanian Corporations are 100% tax-free. All you need to pay are the Annual Corporate Franchise fees amounting to US$ 350 annually following the incorporation.

All The Records and Accounts That Are To Be Maintained

A Panama Offshore Banking Venture does not require you to maintain or file financial statements. The only documents that matter are the incorporation documents filed with the Mercantile Registry and an index of the names, addresses and date of acquisition of all the actual shareholders.

A Little About Business License Requirement

You do not need a commercial business license to set up a Panama Asset Protection Corporation or even to operate business internationally.

As is evident from all the aforementioned facts, Panama has on offer lucrative and more importantly, secure investment options in an Asset Protection Corporation. Furthermore, you have the lures of absolute investor privacy and security that have had the offshore investors flocking to the country in droves.

We can establish a Panama Corporation for you for less than $1,000. Please see our legal fees below, or contact us for more information.


 

 

 

 

 

 

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