Panama company formation services
Set up your IBC company in Panama
Panama has become a popular destination for individuals seeking to protect their wealth through estate planning and asset protection. Panama offers several advantages, including: favorable tax system, strong privacy laws and stable economy.
Due to its structure, geographical position, political stability and characteristics of its economy, Panama has become one of the most important tax havens of the Western Hemisphere. It has excellent international transportation and communication systems; the United States Dollar has been a currency of legal tender for more than ninety years. For these reasons, Panama is a great option for those who are looking for set up an ibc company or an offshore ibc incorporation.
Panama has taken several steps to modernise its economy and promote foreign investment. Most Panamanian and foreign investors choose to form Corporations. There are no exchange controls, currency restrictions or reporting requirements, and Panama imposes no limits on monetary transfers to and from the country.
Benefits and advantages to register your business company in Panama
- No reporting requirements.
- It is possible to keep a business under direct control while maintaining complete confidentiality. Names of beneficial owners are not publicly available.
- It is not required to file any changes to ownership schedule, after the registration is complete.
- It is not required to maintain a legal address.
- No Citizenship or residency requirements or restrictions with respect to Owners, Directors and Officers as with most other tax havens.
- Stockholders’ and Directors’ meetings may be held anywhere in the world.
- Capital Shares may be issued in a nominative form, or to “Bearer” – the ideal protection of the Corporation owner’s identity and total privacy.
- Funds and accumulated offshore profits can be deposited or invested in any country in the world without becoming subject to taxation in Panama.
- One person might hold all three positions of a President, Corporate Secretary and Treasurer.
Other common advantages of Panama IBC’s are:
Ultimate financial privacy
Income Tax Reduction, or elimination
No inheritance, succession or gift taxes
Protection from inflation
Reduction in legal liabilities
Reduction in operating expenses
Freedom from currency exchange control
Local Government concessions, subsidies and support
Data on Owners and Directors is not publicly available and remain confidential
Easy access to North American and European Capital Markets
No International Trade Tariffs
No annual tax return requirements
Must have a resident secretary.
No import/export quantity limitations
No costly bureaucracy
Type of company for International Trade Investment
Procedure to incorporate
Restrictions on trading
Language of legislation and corporate documents
Registered office required
Name approval required
Language of name
Names requiring consent or license
Time to incorporate
Suffixes to denote Limited Liability
Disclosure of Beneficial Ownership to Authorities
Approved in March 2020, Law No. 129 provides the legal framework for the establishment and regulation of a beneficial owner register in the country and will apply to all entities incorporated and registered in Panama which includes companies, foundations, SRLs, and foreign entities registered at the Panama Public Registry.
The register will not be available to the public and will only be accessible to resident agents, registered legal entities (such as trust companies and banks), and two designated officers of the Superintendence that meet the required security and technical safeguards.
Authorised and issued share capital
Classes of shares permitted
Double taxation treaties
The purpose for the Republic of Panama is triple: First, to cooperate in the implementation of regulations against international tax evasion. Second, to fulfill international requisites with the Organisation for Economic Cooperation and Development in order to be considered as non-taxation sanctuary of international tax evasion. Third, to avoid the double payment of taxes of foreign citizens or companies domiciled in Panama and in their countries of origin as well.
Annual government fees
Financial statement requirements
Are you looking out to incorporate offshore IBC Company? IBC has risen in stature to become one of the most sought after IBCs in the International Financial Services World. It has numerous benefits such as exemption from taxes all income of an IBC, exemption from taxes on all dividends paid by an IBC, exception from taxes on all interests, rent, compensations and other amounts paid by an IBC. TBA & Associates is the optimum online destination that provides finest IBC incorporation services!
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.