Due to the many advantages and characteristics, Panama is one of the leading Jurisdictions for setting up an Offshore Corporation. The Panama IBC (IBC = International Business Corporation) is an International Operating Company accepted in the worldwide banking and financial community as a proven structure to carry on all kind of business interests.
Panama Offshore Corporations may participate in any legal activity in Panama or the jurisdictions in which is desired to operate. This would include consulting companies, shipping companies, offshore manufacturing, online businesses, air transportation companies, licensing and sublicensing companies, small business companies, family businesses and so on. Below, you will find the some general usages of Panama Offshore Corporations.
Vessels and Ship Ownership
Panama has a world class marine economy. A Panama Offshore Company can take title of ownership of a vessel or commercial ship, in this case, the incomes and dividends generated by the vessel outside of Panama will be exonerated from Panamanian taxes.
Hold Real Property | Holding Company
A Panama Offshore Corporation can take title of ownership of real state assets worldwide. Concealing part of your wealth offshore will not only grant you financial privacy, it will protect your assets against potential litigants and any possible potential business failure, insolvency or bankruptcy.
Leasing
A Panama Offshore Company can enter into leases for real property interests and personal property, such as vehicles and equipment, worldwide.
Act as a Trading Company
As the amount of worldwide exporting and importing increases, a Panama Offshore IBC can play a part by performing the function of trading company. The Panama Offshore Corporation can use a second corporation as a fulfilment company to take orders from the customer and do invoicing. Profits would then be captured offshore and can go directly to an Offshore Bank Account.
Tax Planning
One important advantage gained by using a Panamanian Offshore Corporation is its tax treatment, the Panamanian tax principle of territoriality. Under this system only incomes or profits generated within the geographic territory of Panama are subject to tax. Any profit obtained from activities outside of Panama, such as transfers or acquisition of securities, management of bank accounts and investments, the transfer or sale of real property or chattels, and the dividends received from companies operating abroad, will be exonerated from Panamanian taxes.
Privacy Tool | Asset Protection
A Panama IBC can be used on behalf an Asset Protection Trust or Private Interest Foundation as a Privacy tool. It could be used to manage the Trust or Foundation assets.
Other Main Usages
The Panama Offshore Corporations can also act as a holding corporation with ownership in other entities, act as a lender, account receivable factorer and lessor. It is also possible to license and own intellectual & industrial property.
Please, do not hesitate to contact us if you have any further questions regarding the uses of a Panama Offshore Company.
