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OFFSHORE CORPORATIONS OR COMPANIES IN PANAMA

» Benefits and Advantages of Offshore Corporations in Panama

» Constitution of an Offshore Corporation or a Company in Panama

› General Information

› Organization of a Company or Offshore Corporation in Panama

» Steps to constitute an Offshore Corporation in Panama

» Fiscal Benefits of Offshore Corporations in Panama

» Domicile, Virtual Office and Re-Invoicing

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PRIVATE INTEREST FOUNDATIONS IN PANAMA

» Purpose of the Private Interest Foundations in Panama

» Protection of Assets in Panama

» Constitution of a Private Interest Foundation in Panama

» Characteristics and Requirements of a Private Interest Foundation

» Protection of Assets in a Private Interest Foundation in Panama

» Nationality of a Private Interest Foundation

» Fiscal Advantages of Private Interest Foundations in Panama

» Request Form

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LOCATION

Caribbean Sea (approximately 160 kilometers to the East of Puerto Rico).

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SURFACE AREA

102 square kilometers divided among 20 islands, many of which are not permanently inhabited. The biggest one is British Anguilla (B.A.), where the capital The Valley is located.

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POPULATION

13,500 inhabitants (2006 estimate)

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CLIMATE

Tropical

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OFFICIAL LANGUAGE

English

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GOVERNMENT

Overseas British Territory. Is a territory under the sovereignty of the United Kingdom, but does not conform part of the United Kingdom itself.

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STANDARD OF LIVING

High

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BANKING

International banking systems available.

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CURRENCY

East Caribbean Dollar, although the dollar of the United States of America (US$) is also broadly accepted.

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INDUSTRY

Tourism and financial services.

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Excellent corporations law.

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Flexible corporations law.

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There are no taxes on international or banking transactions.

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There are no foreign currency control regulations.

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Political and economic stability.

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Excellent hotel accommodations.

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Excellent international communication systems.

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Qualified personnel.

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There are no taxes on capital gains or income, or other type of taxes.

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Nominative or redeemable shares, at the owner’s option.

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No paid-in capital is required.

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There are no minimum or maximum capital requirements.

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Bearer shares are permitted, but subject to custody services.

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Shareholders, directors, and/or dignitaries can be natural or juridical persons.

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Corporation Registry is optional for the initial directors and/or dignitaries or for subsequent changes of same.

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Directors can grant general or special powers of attorney.

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Companies are allowed to have a sole director.

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Directors or dignitaries need not be shareholders.

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Shareholders, directors, and dignitaries can be of any nationality and be residents of any country.

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Shareholders and/or directors meetings can be held in any country and they can participate in them via a power of attorney or telephone.

ANNUAL TAX DECLARATIONS

It is not obligatory to present neither annual tax declaration nor financial statements; it is not obligatory to hold an annual shareholders or directors meeting.

INCORPORATION AND ADMINISTRATION

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Ample availability of company names for incorporations.

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Familiarity with corporate documents because the British Anguilla (B.A.) is a dependent territory of the United Kingdom.

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The word “Limited” can be used as part of the name of the company.

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Expeditious incorporation process and simple administration.

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The Public Registry of British Anguilla (B.A.) is equipped with a modern and sophisticated online system (ACORN) that increases the speed and efficiency of the processing of documents in a prompt manner.

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There are companies available in reserve; however, with the ACORN systems these are practically unnecessary.

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Taxes and mortgages are registered.

REGISTRIES

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The books, registries, and certificates of the company can be kept in any place or country that the directors choose.

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It is not necessary to neither present nor register annual accounts.

REGISTERED OFFICE, CORPORATE SEAL, AND LEGALIZATION

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It is required that the Registered Office be located in British Anguilla (B.A.).

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Corporate seal is obligatory.

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The Apostille is the method usually employed for the legalization of documents.

DOCUMENTS KEPT IN THE REGISTERED OFFICE

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Copy of Shareholders Registry.

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Copy of the impression of the official seal.

COSTS AND HONORARIES

Reasonable incorporation and maintenance costs.

REDOMICILIATION

Corporations of other jurisdictions can be expeditiously redomiciled to British Anguilla (B.A.).

USE OF INTERNATIONAL BUSINESS CORPORATIONS OF BRITISH ANGUILLA (B.A. IBC’s)

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Titleholder of bank accounts, fix-term deposits, investment projects, and any other financial or commercial title.

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Proprietor of shares of other corporations or legal entities.

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Proprietor of apartments, houses, buildings, ships and any other assets or real estate or chattel.

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Administrator or promoter of international commercial transactions.

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International leasing of vehicles, machinery, ships, and other.

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Ideal instrument to give or receive money in loan, pay or receive commissions, royalties, and other revenues.

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Marketing and promotion of products and services.

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Other commercial and financial activities.