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OFFSHORE CORPORATIONS OR COMPANIES IN PANAMA
Offshore corporations make it possible to eliminate obstacles to
commerce and expedite trade, via the proper planning of a fiscal
structure of companies, above all, utilizing the triangulation
method and the re-invoicing of goods and services.
All of this can be achieved by the investor, without having to loose
control of his investment or patrimony, always maintaining control
of his operation.
BENEFITS AND ADVANTAGES OF OFFSHORE COMPANIES IN PANAMA
Panamanian companies or offshore corporations are well known around
the world and offer the investor a series of advantages associated
with Panama's fiscal benefits.
Their importance resides in their versatility, their security, and
the confidence derived of their easy administration, on the part of
the investors.
Confidenciality
Confidentiality in respect of beneficiaries, owners, or proprietors
of a company or an offshore corporation, due to the fact that their
names are only registered in the book of shares of the corporation
and not in public offices.
Taxes
Tax exemptions on goods, revenues, benefits, or earnings earned by
the Panamanian company or offshore corporation, when these are
obtained or produced outside the territory of the Republic of
Panama.
Financial, Commercial and Tributary Declarations
It is not required the presentation of financial, commercial, or
tributary declarations on activities carried out by the Panamanian
company or offshore corporation outside of Panama.
Expeditious, simple and prompt Organization
Panamanian offshore corporations can be organized in a period
between 48 and 72 hours. Nonetheless, the complete preparation of
the package for its remittance can take from 5 to 7 business days,
which will depend on additional services, which have been requested.
Language of the Corporate Charter
In Panama, the Corporate Charter of a company or an offshore
corporation can be prepared in another language, in addition to
Spanish.
Meetings
Panamanian companies or offshore corporations allow the Shareholders
or Board of Directors meetings to take place outside of Panama, and
even in a virtual manner.
Capital of the Corporation
The capital of a company or offshore corporation in Panama need not
be deposited in banks, or that the assets of the corporation be
located in Panama.
Shares
The shares of companies or offshore corporations in Panama can be
issued as Bearer or Nominative Shares.
Proprietors
One or more persons (natural or juridical), national or foreign, can
be the proprietors of the Panamanian company or offshore
corporation, except when the company in question is engaged in
retail business within the Republic of Panama.
Directors
The composition of the Board of Directors must consist of no less
than three (3) Directors, and a single person can occupy more than
one position.
General Power of Attorney
In the event that total confidentiality is preferred, having the
corporation nominal directors, the activities of the company or
corporation can be addressed by means of a General Power of Attorney
that does not require to be registered or inscribed in the Public
Registry of Panama.
Flexibility
The flexibility of Panamanian companies or offshore corporations
allows them to appear as proprietor or titleholder of all kinds of
goods or assets, including bank accounts, located in any part of the
world, without having these to be declared in Panama.
Invoicing and Re-Invoicing
The Fiscal Code allows that, under the territoriality principle,
companies or offshore corporations constituted in Panama can carry
out invoicing and re-invoicing operations for goods and merchandise,
from an office located in Panama, if and when said products or
merchandise do not enter the fiscal territory, these operations
therefore being considered as extra territorial activities, and
therefore exempt from income tax.
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