I will try to convince you haha, I'm also in Panama and I have a foreign business and the main benefit is: Access to better financial services. If I was retired then I wouldn't even bother but since I need to charge cards and issue corporate cards I have found that you can spend less if you use a simple set up in the exterior (US LLC, BC LLP, UK LLP, etc) in combination with a good provider... Doesn't matter if they are taxed at the individual level since there is no personal tax for foreign income
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Please convince me. Real advantages of owning a corporation.
- Thread starter Panamood
- Start date
Of course, If you have a business a proper offshore structure is mandatory to get quality financial services. No question about it being Panama in grey and black lists.
But I'm just a semi-handsome playboy collecting dividends so...
(joke)
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Just to add on the limited liability thing as i see some confusion. Limited liability provided by the company stems from the operations of the company i.e. you place some funds into a venture, if you end up with claims either third party creditors like service providers, stock sellers or banks from where you obtained loans ( although nowadays they all require personal and other guarrantees exactly for working around the limited liability offerred by companies )or an injured employee for example or you ve runned down someone while your trucks are doing logistics services and they sue the company, then the liability is restricted to the company's assets and your capital contribution and does not flow to the shareholders unless in a few very exceptional cases. This is what limited liability refers to. It restricts the potential liability of the venturer or investor to a predetermined amount.
Now asset protection is something different; you may place assets into a company or a trust or similar vehicle somewhere offshore to protect them by either keeping their ownership private ( easier to hide ) or create multiple layers of companies or transfer assets to a vehicle in a jurisdiction which makes it difficult to enforce a foreign judgement or to win a local court case, like for example a cook island trust , or have a well drafted trust document in a reputable jurisdiction and part ownership and control from the assets making it out of reach of creditors etc. etc. The latter examples is what asset protection is all about.
Now OP seems to be doing well as he currently is and staying away from us idiot lawyers. Only thing, he should be urgently sharing some of that p***y, especially now that we know where he lives and where he keeps his assets.
Now asset protection is something different; you may place assets into a company or a trust or similar vehicle somewhere offshore to protect them by either keeping their ownership private ( easier to hide ) or create multiple layers of companies or transfer assets to a vehicle in a jurisdiction which makes it difficult to enforce a foreign judgement or to win a local court case, like for example a cook island trust , or have a well drafted trust document in a reputable jurisdiction and part ownership and control from the assets making it out of reach of creditors etc. etc. The latter examples is what asset protection is all about.
Now OP seems to be doing well as he currently is and staying away from us idiot lawyers. Only thing, he should be urgently sharing some of that p***y, especially now that we know where he lives and where he keeps his assets.
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Panamanian
Ever been there? Locals bitches be build like fridges.
Theres a sizable Russian population tho
hahahah guys guys guys….. you are pointing at the moon And looking at the finger. You are in Panamá but when it comes to girls think of venezuelan… colombian.. russian….
Leave pocahontas for the british.
And beware. Lots of bad bixes. Just be badder & dont fall in “love”
Leave pocahontas for the british.
And beware. Lots of bad bixes. Just be badder & dont fall in “love”
You have to speak Spanish in Latin America otherwise everybody will try to make a fast buck out of you.
Yes, as long as you reside in Panama, your setup works well.
The company might be needed if you start spending significant time somewhere else, so some other country might be interested in taking taxes based on all your personal assets/capital gains.
Hey, nice msg! Would you be able to help me in Panama with residency? Lawyers look crazy expensive.
just dm me with your situation & background and Ill be able to help.
no estate issues?
Do you find being limited to Singapore and HKG ETFs an issue in your current setup? Are HKG stocks not being trashed like Chinese stocks the last year with no end in sight? To save taxes you are limiting your exposure to gains in better markets? I am asking because I face a similar situation but cant see myself buying Singapore or HKG ETFs. is the UK not a better option for the investments. I agree with the other comments on the asset protection side of things. Unless you have any US exposure then I wouldn't worry too much in Latin America.
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To be fair 90% i have it in singapore. rest 10% on the tracker fund of hkg. Maybe, as an option, you can try buying Ireland domiciled world etfs and pay 15% on div income (instead of 30% for US domiciled ones).
That said, S-Reits etfs like CLR.SI look pretty attractive to me at this moment. Good source of regular income (5-6% yield with no tax) from real estate in a place where land is scarce. Also the tracker fund of hkg looks pretty good in valuation now that china is disliked (3-3,5% yield).
But short term, nobody knows of course.
Just because a situation is good now, doesn't mean it will be in the future. Geographically speaking all your eggs are in one basket. Panama is great, but how do you know what it would be like in the future?
If you added trusts, foundations, corporations in other countries you are diversifying your geopolitical risk.
Also, most people here care about minimizing risk. Your argument is like saying "I'm going for a car ride but I'm not likely to crash so I don't need a seatbelt. Convince me otherwise."
I want my money as secure as possible.
I feel that as long as there is no other canal in central America, Panama is as safe as it can get. If they suddenly get a socialist government who wants to break the status quo, pretty sure the US will get there to do what they already did: Keep the canal working in the way they want
still living the simple man life
I do not mean to be disrespectful sir, but if you are really willing to put the effort and money to get the residency, a few bucks for being able to DM won't hurt. Please understand I have to deal with many wannabes that eventually want nothing. That said,
On my side, if we reach an agreement, I will provide you with the best solution for your personal situation, no extra unneeded, pricy bs. And I will gladly help you on the ground if you eventually decide to come to beautiful Panamá.
Have a good one.
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