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Tax Engineering

Offshore company in Panama IBC

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Setting up an offshore company in Panama is an essential and one of the best solutions for tax saving. This country has a favorable tax regime and advantageous conditions for the development of e-commerce and trading activities.

Reference: IBC88452PA

$2941

Offshore company formation in Panama IBC 

Setting up an offshore company in Panama is an essential and one of the best solutions for tax saving. This country has a favorable tax regime and advantageous conditions for the development of e-commerce and trading activities. 

Offshore companies set up in Panama are characterized by its high level of anonymity and easiness in transferring the shares of the company from one country to another without leaving a trace. This high level of anonymity can be achieved if a company registered in Panama has issued bearer shares making it impossible to identify its owner. Moreover any kind of financial services and property can be purchased in the name of the company with tax saving purposes: real estate, yachts, shares of other companies, intellectual property… etc. 

Offshore company registered in Panama is a perfect scheme for any kind of legal commercial activity, such as: international trading, FOREX and stock market investments, research and investigation, online marketing and consulting services. Also Panamanian company can open bank accounts on its name, request mortgages and be a shareholder of other companies.

Forms of company formation in Panama

Forms of company formation in Panama The following forms of companies can be registered in Panama: 

International Business Company in Panama (IBC) 

IBC is the most commonly used form of company formation in the country. It is also called non-resident company because its shareholders are not the residents of Panama. Therefore, these companies enjoy favorable tax regimes being completely exempt from tax. Also they are not obliged to present annual accounting reports and organize meetings on the territory of this offshore. In Panama IBCs can issue bearer shares, this allows them to achieve maximum privacy. 

Limited Partnership and Limited Liability company 

LP also takes advantage of a favorable regime on the territory of Panama. It only pays a fixed tax rate and it is up to beneficial owner is he wants to repatriate the funds and pay the taxes in his home country or keep it on the account of LP and reinvest it in his business. The amount of tax that should be paid is divided among the partners according to the participation in the company.  

Limited Liability Partnerships (LLP)

LLP registered in Panama are commonly used by professionals for asset protection. They are focused on the communities of goods and are used to avoid the possible seizure of personal belongings that the beneficial owner has in his country of residence. 

Trusts and Trust Companies

Panama is a capital of Trusts registration. Due to the high level of anonymity and asset protection that this jurisdiction offers to the investors Trusts and Trust Companies became the structures mostly used to protect assets and carry out legal international tax planning.

Register offshore company in Panama: Advantages

The main advantages of registering an offshore company in Panama are the following:

  • IBC and Non-resident companies are completely exempted from tax and only pay annual renovation fees. 
  • High level of security and anonymity that allow protecting the identity of shareholders and final beneficiaries.
  • Private commercial registry, not accessible by third parties. 
  • Panamanian corporations can be registered with bearer shares.
  • Registering a Trust in Panama guarantees legal protection in case of your assets being seized by third parties such as creditors or claimants.
  • The maintenance costs of a Panamanian company are cheap compared to countries with high taxes.
  • No bureaucracy when registering a limited company, limited liability company or Trust.
  • Beneficial owners can open offshore bank accounts in the name of Panamanian offshore company in any jurisdiction.
  • There is no obligation to present accounting or annual audits.
  • Panamanian companies can operate in any country in the world. But if the company decides to operate in Panama, it will be taxed like any resident company.

Offshore company in Panama: Characteristics

General information

Type of Company
IBC
Type of Law
Civil law
Shelf company availability
Yes
Time it takes to set up a new company
5 days
Government fees (excluding taxation)
US$450
Corporate Taxation
0%
Double Taxation Treaty
No
Share capital or equivalent

Standard currency
USD
Allowed currencies
Any
Minimum paid up capital
1$
Usual authorised capital
US$10,000 (not disbursable)
Directors

Minimum number
3
Local directors required
No
Corporate directors permitted
Yes
Publicly accessible registry records
No
Location of meetings
Anywhere
Shareholders

Minimum number
1
Shares
Bear and Registered shares
Publicly accessible registry records
No
Location of meetings
Anywhere
Company Secretary

Required secretary
No
Local secretary required
No
Accounting and audits of the company

Requirements to prepare
Yes, but not obligatory to present it
Audit requirements
No
Requirements to file accounts
No
Publicly accessible accounts
No
Other characteristics

Requirement to file annual return
No
Change in domicile permitted
Yes


* Incorporation of an offshore company in Panama with a bank account in the name of the company without a physical presence in the country. All arrangements will be made through E-mail and / or certified mail.

  •  
    in Panama
  •  
    notarized and apostilled in English
  •  
    in EUR, US $ or GBP on behalf of the company with online banking included
  •  
    in the name of the company
  •  
    for 1 year
  •  
    for 1 year
  •  
    for 1 year
  •  
    for 1 year
  •  
    995 euros
  •  
    by UPS or DHL to any part of the world
  •  
    Certified by a notary or notary public
  •  
    Certified by a notary or notary public
  •  
    Electricity, water, gas, telephone or bank statement
  •  
    In English
  •  
    Business letter of recommendation from a lawyer, accountant or tax advisor.

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