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Panama jurisdiction is one of the most famous jurisdictions to form offshore companies, know as International Business Company (IBC), Panama has the second largest offshore companies in the world after Hong Kong
Advantages of offshore companies in Panama
- Ownership: complete foreigner
- Taxes: none
- Local office: none, but required registered local agent
- Limited liability: yes
- Privacy: high level of protection, nominee share holders and directors can be appointed, names of shareholders and directors can not be revealed, also shareholders can be issued a bearer certificate labeled only as bearer certificate with no name for more protection, however Panamanian law requires that the bearer certificate to be held by a bank, an attorney, a brokerage firm, or a fiduciary on behalf of the actual owner. Directors are registered in public records however can be requested to be private
- Speed of registration: fast, in three working day
- Accounting and auditing: none
- Language: English
- Currency: USD
- Minimum share holders: one
- Minimum director: one
- Director can be share holder: yes
- Minimum capital: none
- Annual meeting: not required
- Number of offshore companies: 500000, second largest after Hong Kong
Disadvantages of offshore corporation in Panama:
Directors: Minimum three directors are required (President, Secretary and Treasurer)
Additional benefits when registering your company with us:
- Our dedicated law firm “Pharaohs maritime lawyers” enable us to provide quality and fast service
- Incorporation fees as low as 1100 USD, including government fees
- Annual renewal fees as low as 700 USD including resident agent fees
- Specialized maritime offshore company to act as owner of a ship
- We can appoint your nominee directors for as low as 300 USD a year
- Notarization of your company documents from Panama, will facilitate opening bank account outside Panama
- Company documents translation to English for free
- Assist to open bank account in Panama for 700 USD (subject to banks terms and conditions)
- 48 shelf companies available for sale
Documents issued by Panama jurisdiction:
- Articles of association
- Certificates of the shares of the company
- Corporate Charter
- Powers of Attorney
- Changes to the Board of Directors
- Amendments to the Corporate Charter
- Certificate of Good Standing
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