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·Benefits/Advantages
·Incorporation
·Organization
·Tax
Benefits
·Request
Form
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Panama
Offshore Corporations
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Panamanian corporations excel as a tax planning instrument. These corporations are widely known throughout the world and offer many advantages to investors, in relation to tax benefits.
Its importance is based on its versatility, security, and trustfulness, derived from the fact that for investors, they are easy to manage.
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Panama, great place for
Offshore Corporations
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Benefits
and Advantages
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No income taxes are paid if income is generated outside Panama.
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Low annual maintenance costs
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Stockholders can be of any nationality and they may be another corporation or company
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Directors and Dignitaries can be of any nationality and do not need to reside in Panama
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Corporate assets or capital may be outside Panama.
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Stockholders and Board of Directors meetings may be held anywhere in the world
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Incorporation
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Corporations are ruled by Law 32 issued on February 26, 1927, establishing for its incorporation the requirement of an agreement between two or more persons, of legal age, from any country, and domiciled anywhere, notwithstanding it may not be the Republic of Panama. Corporations may have any licit objective and may carry on any commercial or industrial activity.
For its validity, Corporations do not require a paid capital, before or after its incorporation. Corporate Stocks may be issued in a nominative manner or to the bearer, and the corporations’ stockholders can be natural persons or other corporations or companies, nationals or foreigners, with the possibility of more than one person having ownership over any stock, and without the need of having legal
residence or being present in the Republic of Panama.
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Panamanian Corporations do not
require
a paid capital
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Organization
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Corporations must be organized according to the incorporation document called Articles of Incorporations, for which a protocol must be done by a Notary Public and an authenticated copy of that same protocol must be registered in the Mercantile Section of the Public Registry of Panama. This document gives validity to the Corporation, while Law No. 32 of 1927 will be applicable to Corporations, as secondary source of rules.
Articles of Incorporation must at least contain the following information:
1. Name of the Corporation
2. Name and domicile of its subscribers
3. Corporate Objectives; businesses that the corporation will carry on
4. Corporate capital: amount, stocks classes and distribution, etc.
5. Duration of the corporation
6. Name and address of directors and dignitaries
7. Name and business address of Resident Agent (must be an attorney of law firm authorized to practice law in the Republic of Panama)
In addition to the Articles of Incorporation, a Stocks’ Register Book and a Minutes’ Book must be kept, while the opening of these books should be authenticated by a Notary Public.
Corporations not planning to do business within the Republic of Panama will not require any commercial or industrial license from local authorities. They can operate outside the territory of the Republic Panama, as Offshore Corporations.
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Tax
Benefits
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Panamanian Corporations are subjected to a tax regime that requires payment of taxes only for its operations within the territory of the Republic of Panama. Under Panamanian Tax Law, commercial operations executed, taking place, or having effects outside Panama will be considered offshore and are not taxable, even when those operations are managed from an office located in Panama, except for the annual corporate tax in the amount of USD 250.00 that all corporations must pay.
Effective from the year 2006, annual corporate tax will be USD
300.00
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Panama, city of great opportunities
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