Everything You Should Know About Company Incorporation in Panama.
As far as offshore company incorporation goes, Panama is one of the best places on earth to set up your company. This country has a population of about 2. Also, the official language is Spanish but many people in the urban areas speak fluent English. Language barrier will not deter you from going on with your business operations in Panama as long as you are a Spanish or English speaker. The jurisdiction governing the domestic and offshore companies is all the same.This means offshore corporations will not have to fulfill a lot of insane demands before they can be allowed to operate. To make it even better, you only pay tax for the income you have got in Panama. It is very simple to have your company registered because that will take less than 48 hours. There aren’t many countries around the world where you can be assured of this.
You will need to have at three directors taking the position of a president, secretary and also treasurer. You will also need two subscribers shareholder but before the incorporation, you only need one. Any of the directors can be the shareholders as well and there is no pressure to make sure there is local representation in the company. To make sure there is privacy and confidentiality in the firms, the incorporation will only submit the names of the directors for the public records. Any other shareholder will be kept private. If the corporations can show that some of the income they made came from outside the country then they will be tax exempt. Panama has the best taxation rules for a corporation in the world.
As long as you are not a resident in Panama, you have no obligation to let the public go through your financial statements. Additionally, it is essential that you have a shareholder’s register but you might keep it anywhere you want even if it is not in Panama.You do not have to keep meeting with your shareholders and in case you have a meeting those not in Panama can listen in through the telephone. Even though there is a lot of freedom for companies operating in Panama, any corporation which needs to extend its bank, insurance or even trust services across the globe will have to conduct the Panama Financial Services Commision for permission to do so.Therefore, you have every reason to open a corporation in Panama.