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Information About Panama Offshore Companies

Panama offshore companies are well regarded offshore companies coming from one of the world’s leading offshore financial centers. Panama has grown and developed a business and financial environment that is favorable for business, trade and foreign investment ventures. Panama has a range of offshore products, starting with its model offshore corporation that goes back over 80 years.

Panama offshore companies are regulated by the Panama Law on Corporations, which was passed in 1927 which makes it one of the longest standing laws for an offshore company. For this and other reasons, Panama offshore companies command a great level of authority and respectability as corporate structures one with solid credibility.

Panama offshore companies follow a simple process for Panama company registration. The Panama offshore company can be formed by two or more subscribers (of any nationality) who apply for Panama company formations. The subscribers must be present in Panama to sign the company’s Articles of Incorporation which shall serve as the company’s constitution, so this role is generally fulfilled by the local Panama company formation agent in Panama. Then, at least of three (3) officers who take on the positions of Director, Treasurer and Sectary of the company must be in place. Since the companies register in Panama is an open on, the standard procedure of most agents is to form Panama Corporation with nominee officers. The Articles of a Panama company can be executed in any country but must be certified by a Notary Public. The Articles of Incorporation of a Panama Company should contain a few key pieces of information including the subscribers’ names and country of residence, the proposed name of the company being registered in Panama and the general objectives of the Panama offshore company. The name chosen for a Panama company can be articulated in any language, but cannot be alike any other registered Panama offshore company. The name of the Panama offshore company must also have a word or phrase that indicates its status as a corporation.

The Panama offshore company’s Articles of Incorporation should also include the authorized capital as well as the shares details. The Authorized capital of a Panama offshore company can be issued in any currency that is considered as legal tender in Panama.

Panama offshore companies may be formed to conduct any type of business as long as it is legal and complied with the local laws of incorporation and the laws where the Panama Company operates. A Panama corporation can carry out business anywhere except in Panama. The tax free benefits for Panama companies are gained on the offshore company profits or income earned outside of Panama.

A Panama offshore company must have a locally appointed agent and a local registered address for company formation.

Panama offshore companies are an ideal tool for conducting many types of investment, trade and general business activities. In addition to corporation taxes, Panama companies are exempt from a number of other duties and taxes and are ideal offshore companies to use for minimizing taxes and maximizing profits.

One important characteristic of a Panama company is its ability to protect one’s assets. Assets such as real estate and cash can be placed in the name of a Panama Company, thereby transferring ownership of asset to the company. This is one way to reduce personal net worth which can be subject to litigation and other ruling, judgments and settlements. Assets in a Panama corporation are protected.

A Panama offshore company can be used to secure wealth and assets of an owner and that of children or immediate family, as the funds or assets held by a Panama offshore company can be saved in a tax free medium and be used at a later date, during retirement, in the event of an accident or to provide funding for a child’s higher education when the time arises. Panama companies are limited liability companies and are separate from the personal assets of its owners.

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