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Tax Engineering

Company in Panama IBC LTD or INC

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Offshore companies registered in Panama are tax-free and represent an essential vehicle for tax savings. The companies incorporated in this jurisdiction are involved especially in e-commerce and intermediation services of import and export of goods.

Reference: IBC88452PA

$2941

Offshore company formation in Panama

Offshore companies in Panama are characterized by the ease of transferring shares from one country to another or from one company to another without knowing who is the final beneficiary of this transfer. Using an offshore company registered in Panama any type of property can be transferred: real estate securities, bank accounts, shares of companies, houses, boats, automobiles, intellectual property, patents, etc. In order to reinforce the privacy, bearer shares can be issued making it impossible to know who is really the owner of the company.

A Panamanian offshore company can perform any operation, such as: opening accounts in the name of this company, borrowing money from bank, investing in the stock market, investing in Forex, it can develop international trade activities, request mortgages and exploit intellectual property. It also can give opacity to the shareholders residents in jurisdictions that did not sign the information treaty with Panama. 

Types of Offshore Companies

The following types of offshore companies can be registered in Panama:

International Business Company "IBC" or Non-Resident Company 

These are the companies destined to physical or legal persons no-residents in Panama. According to Panamanian tax laws, the beneficiaries of a non-resident company are exempt from paying taxes. In Panama a non-resident offshore company can have bearer shares and be the holder of a current account opened in the same jurisdiction where the company is registered or in a different one.

Limited Partnership and Limited ("Limited Liability")

It is a mixture of the corporation and community property. LP companies pay a fixed tax rate in Panama and it is up to the final beneficiary to pay the taxes in the country where he resides fiscally. The limited partnerships allow the elimination of double taxation and also distribute the tax burden between the partners separately, according to their participation in the company.

Limited Liability Partnerships (LLP)

These are offshore companies used by professionals for asset protection. They are focused on the communities of goods and are used to avoid the possible seizure that a natural person can face in his country of residence.

Trusts and Trust Companies

Panama is the capital of protection where Trusts and Trust Companies are the structures mostly used to protect assets and carry out legal international tax planning. Offshore companies Trusts can also be called fiduciary or fiduciary company. In Panama the Trusts are highly regulated providing the security to the clients in all their investments. They are characterized by granting a fiduciary power to act on behalf of a final beneficiary.

Advantages of registering an offshore company in Panama

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

  • Panamanian companies are opaque and serve to protect the identity of shareholders and final beneficiaries. There is no obligation on the part of the commercial registry to inform third parties about who owns the shares.
  • Panamanian corporations can be registered with bearer shares.
  • Panamanian companies are specialists in asset protection through Trusts. It is very complicated for a trustee to get its assets seized by third parties such as creditors or claimants.
  • Tax saving or its postponed payment in your country of tax residence. There are no taxes on capital gains, inheritances etc.
  • The maintenance costs of a Panamanian company are cheap compared to countries with high taxes.
  • Little bureaucracy when registering a limited company, limited liability company or Trust.
  • Panamanian offshore companies can open bank accounts in Panama or in any other 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.

Characteristics of offshore company in Panama

General information
Type of Company
SA
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.

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

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