Panama Offshore Corporations | Advantages
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There are not currency
restrictions in Panama. The U.S. dollar is the circulating medium.
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It is not necessary to have
a paid-in capital. |
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There
are no requirements to file any reports with the Panamanian government
regarding any offshore activities,
except the annual government franchise tax to have the corporation in good standing. |
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Taxation
in the Republic of Panama is based in the territorial source principle.
Therefore, incomes obtained from operations performed abroad the
Panama territory are not
taxable under our law. |
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It
is not necessary for the interested parties to be present for the purpose
of organizing a Corporation. In
this case, corporations are formed through nominee incorporators in
Panama, who execute the basic instrument for the incorporation called
Articles of Incorporation. |
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The
directors, shareholders and officers, may be of any nationality and
resident of any country. |
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Meetings
of directors and shareholders may be held in the Republic of Panama or in any other country. |
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Share
certificates may be issued to the bearer or in the name of its owner
and may be issued with or without par value.
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Neither the directors nor
the officers need to be shareholders. |
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Shareholders identity
is not registered at the Panama Public Registry. |
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The
accounting books of the corporation may be kept within Panama or abroad
and also by electronic means. |
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Corporations conducting
business outside of Panama do not require a commercial license for
offshore activities. |
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Competitive
incorporation costs compared to other jurisdictions. |
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Incorporation time
frame approximately five business days. |
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