Many entrepreneurs willing to open an offshore company, choose a suitable jurisdiction among the various territories known as tax havens, according to their needs.
WHY CHOOSE PANAMA
Many offshore companies are opened in Panama for the tax advantages offered by the territory. Particularly, many U.S. citizens open company branches that can manage from abroad. Since 1932 Panama is considered a tax haven par excellence and today it has more than 120 banks, being considered one of the major financial centers of the world.
THE ADVANTAGES OF A PANAMANIAN COMPANY
Panama is chosen for many reasons: political stability, fast telecommunications, soft cooperation with the tax authorities of other countries, and then the low costs to open a company: legal, company maintenance and life costs. Panama tax system is very advantageous so many companies, both big and small, opt for it! Furthermore, Panama offshore company is tax-free, is not required to present its financial statement or tax return in the end of the year and can be administered from anywhere in the world.
CHARACTERISTICS OF AN OFFSHORE COMPANY IN PANAMA
Normally in a company statute 3 Directors appear, and its shares are to the bearer. The Shareholders’ name sometimes cannot appear at all, thus to create an anonymous company in Panama is totally legal if the right procedure is followed. The only payments to be made are: an annual fee and of the eventual resident agent that amount to 550€ from the second year of offshore company opening in Panama. There are no other requirements in Panamanian jurisdiction.