Moving Canadian corp to Panama

[Panama]

I have a question for Canadians.
Just recently I and my spouse received Panamanian residency and we're looking to move out of Canada to Panama.
The tricky part is that I own a corporation in Canada (50/50 with my spouse).
We have opened the company in Panama.
My question is how to move my Canadian corp and its assets (money+inventory) to our Panamanian company?
Interested in the advice of those who have done it.
Any helpful contacts will be much appreciated.
TIA

 

[JackAlabama]

I have a question for Canadians.
Just recently I and my spouse received Panamanian residency and we're looking to move out of Canada to Panama.
The tricky part is that I own a corporation in Canada (50/50 with my spouse).
We have opened the company in Panama.
My question is how to move my Canadian corp and its assets (money+inventory) to our Panamanian company?
Interested in the advice of those who have done it.
Any helpful contacts will be much appreciated.
TIA

Either create a takeover by the Panama corp of your Canada corp. Or wind the Canadian one down and then recapitalize the Panama one.
And then the funny part begins which means wire the funds to Panama. Maybe Canada is cool with that, but EU gives headache doing it.

Your life will be a 100x easier if you have a USA LLC instead of having to do anything with Panama banks.

Did you do the investment route with 200k$ or you go with the working visa?

 

[Panama]

Either create a takeover by the Panama corp of your Canada corp. Or wind the Canadian one down and then recapitalize the Panama one.
And then the funny part begins which means wire the funds to Panama. Maybe Canada is cool with that, but EU gives headache doing it.

Your life will be a 100x easier if you have a USA LLC instead of having to do anything with Panama banks.

Did you do the investment route with 200k$ or you go with the working visa?

Thanks for your input. We've been lucky enough and got our perm. residency in Panama under the previous rules. Are there any difficulties in the EU doing wire transfers to Panama? I was thinking about US LLC, but it's not the case until I become a non-resident of Canada.

 

[JackAlabama]

Thanks for your input. We've been lucky enough and got our perm. residency in Panama under the previous rules. Are there any difficulties in the EU doing wire transfers to Panama? I was thinking about US LLC, but it's not the case until I become a non-resident of Canada.

Cool. Same here.
Yes, it was a hassle but I have not tried for years now. But here and there I hear similar story. Also wires out of Panama getting questioned a lot.

Yes, first clean up at home and then start it up new as only Panama resident.

 

[startfleetio]

Thanks for your input. We've been lucky enough and got our perm. residency in Panama under the previous rules. Are there any difficulties in the EU doing wire transfers to Panama? I was thinking about US LLC, but it's not the case until I become a non-resident of Canada.

Why do you need to wait until you became a non-canadian resident before you register the US LLC, but not the Panama company?

Since you have already opened the Panama company, try to use it as a holding company to hold the US LLC. This will make your life easier