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PANAMA

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PANAMA

The Republic of Panama, more commonly referred to as Panama, is the southernmost country of Central America with a population of approximately 2.4 million. It is a transcontinental nation which connects North America and South America. Panama has excellent telecommunications and postal facilities, and is connected with the principle cities of North, Central and South America, Europe and the Far East by major scheduled airlines. It has a Colon Free Trade Zone (2nd largest in the world after Hong Hong) located near the entrance to the Panama Canal.

Panama Offshore IBC is ideal for the incorporation of an offshore company in an independent offshore jurisdiction. Panamanian corporation law is one of the most liberal and stable in the world. Not only is the setting up of offshore company in Panama affordable and prompt, Panama offshore company can be managed from any place of the world. Furthermore, income received outside of Panama are exemped from all local taxes other than a US $250 annual franchise tax which is payable to maintain the good standing. Other advantages of incorporating an offshore Panamanian company include: confidential information is neither required nor registered; no limitation on Panama offshore company lawful activities; no requirements of a minimum paid up capital; any individual and legal entity may become a shareholder.

The incorporation of a Panamanian IBC is subject to the following requirements and restrictions:

  • -Names may be expressed in any language that uses the Latin alphabet. A Spanish or English translation may be requested by the Registrar.
  • -The company name must end with the suffix Corporation, Incorporated, Sociedad Anonima or the abbreviations Corp, Inc or SA. They may not utilise the suffix Limited or Ltd
  • -Both corporations and natural persons of any nationality may act as directors and the minimum number of directors is three.
  • -The directors of a Panamanian company must appoint a president, secretary and treasurer.
  • -A company should have a minimum of one shareholder, and the names of subscribing shareholders will appear on public record.

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