|
|
WHAT IS A CORPORATION?
A corporation is an entity recognized by law as a separate "person" with limited liability. A corporation has the option to sell shares, the right to sue and be sued, and has perpetual existence.
HOW ARE OFFSHORE CORPORATIONS USED?
Offshore corporations may be used to own and operate businesses, issue shares, bonds or otherwise raise capital, guarantee obligations, hire employees, buy goods and services, sell goods and services, make contracts, rent office space, maintain checking and saving accounts, and maintain retirement plans for employees. Although most offshore corporations are private and closely held, some are publicly traded on major stock exchanges.
WHAT ARE ARTICLES OF INCORPORATION?
The Articles of Incorporation is the document which establishes the corporation and contains basic information such as the name, share structure, and purpose of the corporation.
WHAT ARE BY-LAWS?
The By-laws, or in some jurisdictions "Articles of Association", are rules the corporation creates for its shareholders, officers, and directors. By-laws are adopted by the Board of Directors as one of the first organizational steps in setting up a corporation. Upon instruction, we can adopt a standard set of By-laws for a new corporation. Unlike Articles of Association, By-laws are usually maintained internally but may be publicly filed if requested.
WHAT DOES A CORPORATE SEARCH REVEAL?
A corporate search will reveal the name of the corporation, the date of existence, amendments, and any other publicly filed document. Under Panamian law, there is no requirement that the names of corporate officers, directors or shareholders be filed in any public registry. Such information, therefore, remains confidential.
WHAT IS THE STANDARD SHARE STRUCTURE?
In Panama by default a bearer share certificate over 100 shares at $100 each is issued.
WHAT ARE BEARER SHARES?
Bearer share certificates do not indicate the name of the owner. The certificate is endorsed in blank such that the person having physical possession of the document is the owner. Bearer shares facilitate the transfer of assets because transfer of ownership is accomplished simply by the transfer of the certificate.
WHAT ARE REGISTERED SHARES?
Registered share certificates indicate the name of the owner on the document. The name of the shareholder is also recorded in the internal corporate records of the company. Although the registered owner is recorded in the corporationís internal records, no public registry of shareholders is maintained in either Panama, Liberia or the Marshall Islands. The share registry is an internal corporate document available only to directors, officers and shareholders, under conditions specified in the jurisdictionís corporate statute.
WHAT ARE SHELF COMPANIES?
Shelf Companies are ready-made, never used corporations that have been created to meet a clientís immediate needs.
WHAT IS A REGISTERED AGENT?
A Registered Agent is required to ensure that the corporation has an assigned representative at a known address to receive all service of process (legal notices) on its behalf. The Registered Agent forwards these documents to the address of record of the corporation.
DO YOU PROVIDE NOMINEE DIRECTORS?
If you so desire, we provide nominee directors at no extra charge.
HOW MANY DIRECTORS ARE REQUIRED?
The minimum number of directors for a Panamian Corporation is 3.
Detailed Information
Panama is the jurisdiction of our choice!
Panamaís legislation and related regulations are structured in all cases to promote legitimate operations, with the added advantage of uncomplicated and expedient procedures and a tax policy based on the principle of territoriality.
The Republic of Panama is situated in Central America, at the narrowest part of the isthmus. It lies between Costa Rica (to the northwest) and Colombia (to the southeast). It has an area of approximately 77,000 square kilometers (30,000 square miles) and an estimated population of 2.5 million. Climate is tropical with heavy rains. The dry season runs from mid-December through the end of April; the rest of the year is rainy. Panama is a Republic with a democratic system of government. The President, as Chief Executive, is elected by direct vote for a five-year term, concurrently with the members of the National Assembly, a unicameral parliament.
The Executive, Legislative and Judicial branches function independently. Panama is the worldís most liberal country when it comes to taxing foreign and offshore entrepreneurs.
The most important of its numerous advantages are:
ï Easiest, quickest and least expensive tax-exempt offshore corporation
ï No income tax, no corporate tax, no sales tax, no value added tax, etc...
ï Panamaís official currency is the US dollar - thus, no risk involving exotic inflationary central American "money" issued by corrupt governments; only the US can print the countryís official currency.
ï Panamaís corporation laws are modelled after the Delaware Corporation Law, which is among the most liberal in the world.
ï No citizenship or residency requirements or restrictions with respect to owners, directors and officers as with most other tax havens.
ï Stockholdersí and directorsí meetings may be held anywhere in the world.
ï Capital shares may be issued in a nominative form, or to "bearer" - the ideal protection of the corporation ownerís identity and total privacy.
ï Funds and accumulated offshore profits can be deposited or invested in any country in the world without becoming subject to taxation in Panama.
ï Panamaís current annual maintenance fees are the cheapest in the world.
ï Panama is an ideal residence or a retirement haven, should you choose to relocate.
ï Permanent stay permits are easy to get and naturalization takes only three years. All you have to do is prove that youíre at least 45 years of age and have enough money to support yourself (amount not specified).
ï New Panamian Offshore Company comes complete with articles of incor-poration, nominee directors, resident agent, registered office, Bearer Share certificate and Notarized Power of Attorney with Apostille. Incorporation takes 5 to 10 days upon receipt of funds. Yearly maintenance fee is payable by the anniversary date of incorporation. This is the lowest annual fee anywhere in the world and includes nominee directors, resident agent, registered office and government tax.