A Panama Offshore IBC 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 advantages of why choosing a Panama Corporations as the jurisdiction for crating your offshore company:
No currency restrictions
There are not currency restrictions in Panama. The U.S. dollar is the circulating medium.
No requirements to deposit or paid the registered capital
It is not necessary to have a paid-in capital. According to our laws the registered capital is just a nominal figure which projects and estimated value of the corporation and it is not required to be paid or deposited.
It is not required to come personally to Panama to incorporate the company
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.
Offshore activities, not required to file reports
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.
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.
Company Directors and Shareholders can be from any nationality
The directors, shareholders and officers, may be of any nationality and resident of any country.
Flexibility for holding directors and shareholder meetings
Meetings of directors and shareholders may be held in the Republic of Panama or in any other country.
Share certificates are issued only in private documents
Share certificates may be issued to the bearer or in the name of its owner and may be issued with or without par value. Neither the directors nor the officers need to be shareholders.
Shareholders identities are strictly private
Shareholders identity is not registered at the Panama Public Registry.
No need to keep accounting in Panama
The accounting books of the corporation may be kept within Panama or abroad and also by electronic means.
No requirement of commercial license for offshore activities
Corporations conducting business outside Panama, do not require a commercial license.
Low incorporation costs
Competitive incorporation costs for incorporating a Panama Offshore company compared to other jurisdictions.
Low Maintenance costs
Annual maintenance costs including annual corporate taxes and resident agent fees are only USD 500.
Quick incorporation time frame
Panama Offshore Incorporation time frame: approximately 4 to 5 business days.
Learn what makes a Panama offshore company right for your business, and visit our Panama Offshore Corporation page for more information regarding the main uses of a Panama Offshore Company.