Panama Company have been of interest for international entrepenuers for decades.
This is mainly due to the international service platform that it offers which are characterized for it´s high quality and efficiency.
What aspects should you take into account?
Proper planning is absolutely critical to executing a successful offshore strategy.
They are offshore companies because they are registered in a country other than the one in which they carry out their economic activity.
In general and worldwide, there are two types of offshore companies:
- The IBC (International Business Company) which is the most common form of offshore company, called a corporation in Panama and
- the LLC (Limited Liability Company) or limited liability company. (Widely used by North Americans)
The first can be found in practically all offshore jurisdictions, in the form of a limited company.
The second, on the other hand, can only be found in some jurisdictions, and is a fiscally and transparent limited company, whose members declare the profits obtained with the company in their individual income tax returns.
Advantages of registering a Panama company.
There are many reasons that support the decision to register a company in Panama:
- Companies do not pay income tax for profits generated in activities carried out outside of Panama.
- The process is simple, fast and hassle-free, because government entities do not create obstacles for foreigners, but rather, they seek to attract more capital and investors.
- Registration is through a suitable lawyer in Panama and the owners can request the service outside the country, without having to travel to Panama.
- It is an economic process and, depending on the type of company you want to establish, the necessary capital is from US $ 10,000.00, which is not mandatory to be paid to register the company.
- Asset protection is high, since the Panamanian banking system is one of the most reliable and secure in Latin America and the world.
- It is ideal for online businesses. Registering a company in Panama and managing it remotely is the perfect option for companies that offer this type of service. If you sell consulting, drop-shipping or through Amazon, this option is perfect.
- Having your company registered in Panama also it makes easier to open a corporate bank account.
- Panama offers low annual company maintenance fees.
- It is not mandatory that the partners and shareholders be Panamanians.
Panama’s adherence to the FATCA Double Taxation Agreements demonstrates compliance with the country’s international obligations and allows it to continue providing tax, wealth and business planning services, in an environment of security and trust.
These adjustments have been aimed at providing greater support, transparency and building trust in the international community and to combat their misuse.
If you want more information about the establishment of offshore companies in Panama and other types of companies, you can visit the following LINK or contact us directly.
Our team will help you clarify all the doubts you may have and will update you regarding the current rates and procedures that must be carried out to set up a company in Panama from abroad.
Take into account the recommendations previously exposed and be encouraged to do business in one of the best countries in Latin America.