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Many people like to incorporate offshore company

Discussion in 'Offshore Company & Bank Account Guides' started by Admin, Jun 5, 2016.

  1. Admin

    Admin Forum Moderator The Forum Cleaner

    panama-company.jpg

    Incorporate business in Panama

    in an independent offshore jurisdiction and if you are one among them then you need to consider the option of Panama Company which can be incorporated under the corporate legislation. Name of Panama company can be chosen in any language but it needs to have the legal endings like corporation, incorporation etc. Name needs to be unique and it must be different from already reserved or existing names.

    It is necessary for the Panama companies to have registered office address and an agent who is law firm or an attorney. Head office address can belong to any other country. Shares of the company can be given to other companies and individuals even if they are not residents of Panama. Minimum 1 shareholder is necessary along with minimum share of USD 100.

    Board of Directors are necessary
    It is necessary for every Panama Company to have board of directors and minimum 3 of them are required. Residents from different countries can be made directors. Board of directors further make appointments of officers, secretary, and others. No officer should be a director and he/she can be from any country.

    Authorized Capital
    Standard capital of USD 10,000 needs to be there and it can be divided in to 100 shares. Panama Company is exempted from all the local taxes if it operates its business outside Panama and this includes the capital gain tax, income tax, dividend tax and others.

    Annual Fees
    Companies working in Panama have to pay the renewal fees on annual basis after their first year. Information about owners and shareholders is not public and it is kept confidential. However names of officers and directors are made public and they are available publically. No statutory requirements of audit and accounting are available for the Panama companies and directors can keep the records which they want to keep. Annual meeting are not necessary and directors can call the meetings on their own will even the annual meeting.

    Benefits of Panama Company

    If income gets received out of Panama they all the local taxes gets exempted
    Annual support is inexpensive
    Minimum paid up capital in not a binding
    You don’t have to file the owners and shareholders information to the Public Registry
    Office and it is not made available publically.
    You can make any individual or entity a shareholder.
    There is no foreign exchange control

    You can easily incorporate Panama Company as it is easy to incorporate and manage and you will get lots of facilities along with a good earning. If you are looking for the best offshore business then Panama Company is the best choice for you from which you need to take full advantage. You will not have to face the strict legislations and that is the reason people who have started businesses in Panama are finding them great and they are making huge earning out of them. You can also use the great opportunity to make good earnings for you and your family.
     
    utibi, JohnK, DeepDrilling and 22 others like this.
  2. zohoman

    zohoman Member Entrepreneur

    Can you explain in details what is the best offshore company that you can incorporate in regards to online business and selling products online, getting payment processor and valid registered office address that I can put on website for my customers to see I'm a valid registered company?
     
    blackpearl, suzy, Admin and 2 others like this.
  3. aage

    aage Offshore Agent Entrepreneur

    This is helpful but I'm confused about what offshore jurisdiction would be best for my online subscription selling business? Can you guide me to the right jurisdiction I have customers from all over the world but have only 1 product that I'm selling.
     
  4. alley

    alley Offshore Agent Entrepreneur

    Panama offers both Banking and Merchant account for online business. But I have yet to figure out how to get it all connected to each other and where to find any reliable agent in Panama or Lawyer to help me register a company there.
     
  5. vitomerchant

    vitomerchant Offshore Agent

    What some want to consider when they incorporate their business offshore is that they have much more protections against lenders and creditors. That was one of the important points for me.
     
  6. Jack Dui

    Jack Dui Active Member Entrepreneur

    Only $10k primary capital needed to get a company? Awesome!!
    Benefits of having Panama company also looking great. Definitely will go for it.
     
    newtooffshore, Admin, mert and 3 others like this.
  7. uplana

    uplana Corporate Services Business Angel

    Any benefits left after the scandal of #panamapapers?
     
    Admin likes this.
  8. uplana

    uplana Corporate Services Business Angel

    I don't agree with you any longer. For approx 7 months I would but not after all the media covering of Panama.
     
    suzy, myshufflemix and auric like this.
  9. waltercrane

    waltercrane Member

    Thank you for sharing this article bro. I also think it's the best choice for the low business-man . Since it cost cheaper than the other company.
     
    utibi and myshufflemix like this.
  10. yves

    yves Offshore Agent

    I don't know the costs are higher compare to a Belize (costs only $800) and Seychelles ( costs only $750) and after all the mess with the #panamapapers it seems not to be very secure privacy vise.. but I could be wrong of course.
     
    suzy, newtooffshore and fireserve like this.
  11. shadowcaser

    shadowcaser Member

    Thank you for the article Admin, I have read a lot about incorporating business in Panama. But I haven't decided which one I should choose.
     
    GoGoldPro likes this.
  12. Sany zeth

    Sany zeth Active Member

    Yes they have to keep it low . Because they want to attract more investors.
     
    myshufflemix and GoGoldPro like this.
  13. maiden

    maiden Member

    I think that's because many peoples want to protect their business privacy or even their own privacy from the government.
     
    myshufflemix likes this.
  14. employme

    employme Member

    I don't think Panama will be used any longer after all the stuff happened there.. but I would like to try it if we can find a company that can provide merchant account for a Panama company
     
    Admin likes this.
  15. erzascarlet

    erzascarlet Member

    I'm one of the guy that like to incorporate my business. Especially I working in a marketing business. It helps me a lot.
     
    newtooffshore, Admin and fireserve like this.
  16. deadpool

    deadpool Active Member Entrepreneur

    Is it just me or everyone thinks Panama to be the most unsafe offshore option.
     
    newtooffshore, Admin and fireserve like this.
  17. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    I still love Panama to be one of the first stop when it comes to privacy because when I need a bank account and a way to process credit cards there are many options for normal online biz in Panama. This requires a Panama corp.
     
    Admin likes this.
  18. fireserve

    fireserve Super Moderator Mentor Group Sponsor

    Back when I was new to all of this the best I found was you didn't had to pay in any share capital. Years later many EU countries introduced the exact same thing for their local countries. Som only require 1 Euro
     
    DeepDrilling and Admin like this.
  19. GoGoldPro

    GoGoldPro Member

    Count me in I'm 100% certain that I want to incorporate a offshore company as soon as I have found the proper jurisdiction for my business.
     
    DeepDrilling, newtooffshore and Admin like this.
  20. Admin

    Admin Forum Moderator The Forum Cleaner

    Do you know where you want to incorporate your business already?