OFFSHORE COMPANIES - PANAMA
Please click here to place your order for a Panama Company.
Panama Bearer Share Corporation Advantages
Panama is one of few places in the world where you still can form a truly anonymous bearer share corporation. Under the current Panama Law a bearer share corporation can be formed so that it is controlled and owned by the possessor of the physical share certificates with no owner on record anywhere. Not even the Panama government knows who is the owner. The shares of the Panama Corporation normally do not have the names of the owners on them and they do not have to be kept in Panama. There is no requirement to keep books and records in Panama either. If the Panama Corporation has a resident address in Panama, yet only has offshore derived income, it pays no Panama taxes and does not even need to file a Panama tax return.
The bearer share corporations have mostly been eliminated in the world since 9/11, Panama is one of very few countries that still has a true bearer share corporation. When sending international wires from a Panama Bank Account under the name of the Panama Corporation, no one monitoring the wires can tell who the owners of the corporation are. It is just like how the famous Swiss numbered bank accounts used to work (today Switzerland still has numbered bank accounts, but you can only receive international wires anonymously – you can not send anonymously), but instead of a number named as the beneficiary the corporation’s name is used. Panama has today over 400 000 corporations registered and the number is constantly growing. Each corporation pays 300 USD in fixed yearly franchise tax (assuming your money is offshore derived), which totals in 120 000 000 USD and this for a country with only 2,9 million people. The Panama Canal only nets around 335 000 000 USD and required 9000 employees in comparison with the corporate filing department that maybe requires 200? Panama is a country highly unlikely to violate corporate secrecy and that is the key reason why Panama has so many corporations registered.
No Corporation Ownership Registry in Panama
Unlike many other “offshore jurisdictions” the lawyer in Panama may only have knowledge of the person who formed the company, but not knowledge of other persons that he or she may have transferred the corporation to since formation. These transfers do not need to be reported and the new owner does not need to be on file anywhere, they just need to possess the shares of the corporation physically. The transfer process could be completed in minutes or seconds. The new owner may reside outside of Panama, and the new owners may be a Company, Foundation, Trust in another country, making trails extremely difficult, expensive and time consuming to find and for most people impossible to follow, especially when you consider that no one really knows how many times the ownership has been transferred. There is no ownership database to snoop into anywhere. Therefore the possibility of a fishing expedition is non-existent.
Also remember that Panama has no tax treaties of any kind with any country and this is usually where fishing expeditions come from. The names of the nominee Directors that we provide are the only names recorded publicly. We will also provide you with signed undated letters of resignation from the directors and a power of attorney giving you full signing rights. Since it is a bearer share corporation, transfer of stock certificates is done effectively and privately with no record of sale appearing anywhere. The new owner can easily replace our nominee directors with his own. If required, we can provide you with a blank bill of sale for the corporation signed by the nominee directors as an optional extra service. If you do not wish to use nominee directors on your corporation, we can use three different anonymous Panama bearer share corporations instead which makes for a more confusing and harder to follow trail but it can be so hard to follow, that the banks will not approve for a corporate bank account due to difficulties with due diligence.
Anonymous Corporate Ownership of Assets
A Panama bearer share corporation can own all sorts of assets: bank accounts, real estates, boats, planes, cars, art, jewelry, businesses, and other valuable assets all without revealing the beneficial owner of the corporation (the bank records are covered by the strictest bank secrecy laws in the world). Additional complex strategies can be applied using the lawyer to perform certain actions on behalf of the corporation. You could have a Panama Foundation own the shares of the Panama Corporation, so you do not own the corporation and no one can own a Foundation under Panama Law, Foundations only have beneficiaries. You control the corporation and foundation through a notarized and apostilled general power of attorney, signed by the nominee directors. You would be the only signatory on both bank accounts. The Foundation is normally formed through an entity that we provide, it usually has nominee council members provided by us and if you wish you could even elect to not be a beneficiary. Now we provide you with a formal agreement making you the protector of the foundation, which is not recorded publicly anywhere. Then we also have optional formal agreements, making you the investment manager or real estate manager for the corporation and foundation including terms of compensation and expense reimbursement, all notarized, apostilled and signed by the nominee directors or nominee council.
Panama Corporation Banking
Today all banks in the civilized world will require a natural person as the beneficial owner for any bank account and will also require identity documents for that person so a bearer share corporation may not be able to conduct banking completely anonymously. However Panama has the strictest bank secrecy laws in the world today, providing for criminal and civil penalties for the violating bank. You could sue a Panama bank for many millions if they were to violate the bank secrecy. The sophisticated Panama bank secrecy laws combined with an anonymous bearer share corporation formed in Panama using a world class Panama bank provides with the most secure, stable and private asset protection structure available today.
Whether it is a Panama Bearer Share Corporation or a Panama Private Interest Foundation you get the same privacy. Wires are sent and received by a corporate account. After 9/11 there have been examples where the US Government has monitored international wire transfers. No one knows who the natural persons are behind a Panama Bearer Share Corporation. This structure provides the same privacy as the old Swiss numbered bank account as it cannot be traced to any natural persons.
Other Attorney Services
Your attorney may represent you and collect rents on an apartment building or office building your Panama Bearer Share Corporation owns in order to keep the ownership of the property concealed from tenants and others. The attorney only forwards the rent proceeds to you or wires them to a bank account anywhere in the world. Your attorney could handle auctions where you sell an art collection, cars, yachts etc. The attorney collects the auction proceeds and forwards them to you or wires them to a bank account anywhere in the world. Your attorney can buy or sell a yacht for your bearer share corporation and handle the registration procedure in Panama, and you can go sail around the world with the share certificates locked up in a vault box in your Panama bank. Panama Corporations can be registered within 2-3 days (24 hours if you use express service).
Additional Advantages of Panama Bearer Share Corporations:
* Yearly Panama Government fees for non-resident Panama Corporations are priced very reasonably at 300 USD.
* Yearly fees Panama Government charges for a non-resident Panamanian Corporations is priced very reasonably at $300.00
* There is no tax on profits derived from outside of Panama.
* There is no requirement for minimum paid-up capital for Bearer Share Corporations in Panama.
* There is no law requiring disclosure of the beneficial owner(s) to a Panama Bearer Share Corporation.
* There is no requirement to keep accounts, file annual returns etc.
* Panama Corporations can have their shares issued in physical bearer share form with or without any par value assigned to the shares. The only documents filed in the public registry are the articles of incorporation, which usually show the directors (these are the nominee directors, provided by us) who are not the owners and the registered agent. The actual owners will never appear in any public record of any sort and not even the Government of Panama knows who they are.
* Annual shareholders’ or directors’ meetings are not mandatory and can be held anywhere in the world.
* The financial records of the Panama Corporation can be kept anywhere in the world, which make legal discovery very difficult.
* The registered agent does not have to keep or maintain any records for the Panama Corporation. In addition your agent is a lawyer, so attorney client privilege is entered into the equation.
* Price is only 1075 EUR including incorporation documents, translation, 3 nominee directors, first year’s government fees, nominee directors resignation letters, board resolution to open a bank account, apostilled and certified general power of attorney etc. No hidden fees or cost. Add 395 EUR for a corporate bank account with HSBC in Panama (without you having to come to Panama). Courier fee is additional 80 EUR.
* Annual fees are only 695 USD (ap. 450 EUR) including everything; Panama Government fees (300 USD), nominee directors, registered agent etc.
+ Add an anoymous international Panama ATM debit card for 395 EUR (only 1% in loading fees)
We also have a package deal with a Panama Foundation and a Panama Company. The ultimate Asset Protection tool. The deal also includes 2 corporate bank accounts 2800 EUR (SAVE 300 EUR)
From 1 September 2008, we can also provide you with 24h registration service for 295 EUR or ready made shelf companies for 295 EUR.
Please click here to place your order for a Panama Company.
Procedure
Go to the order form. Fill in your details, place the order, choose to pay by credit card or bank wire. Within minutes you will receive an invoice to your e-mail, and login details to our client area. Login to our client area, and upload details regarding the benficial owners and the one holding the power of attorney. Also upload the required documentation specified down below (or send it by e-mail). Normally within 5 working days from the date that we have received the payment and scans of all the documents, your company will be registered. Then we will send you the corporate documents + banking agreements to you by courier. You sign the bank account opening forms and return it to us by courier. Normally within 1 week we will get back to you by email with your account details.
L.P. Corporate Services S.A.
Attn: Due Diligence Dept.
Edificio Global Bank
Piso 18, Oficina 18-02
Calle 50
Panama City,
PANAMA
Required documentation from all beneficial shareholers:
* Notarized and apostilled passport copy
* Notarized and apostilled driver license copy (or national id card)
* Bank reference letter
* Business reference letter
Reg. Bank reference letter
Can be made out "To whom it May Concern". You could tell the bank that you have retained a law firm to handle some international matters for you and they need the bank reference as part of their know your client due diligence. A sample letter would look like this on official bank letterhead:
Mr. John Doe has had an account here since June of 2003.
The account is in good standing or is currently open.
If the Bank is resisting writing such a letter ask the bank to write you a letter addressed to you about the status of your account. It should be on a bank letterhead signed by a bank employee. It should state type of account, account number, date opened, and status of account currently such as – open, current etc. along with current balance and average
balance. Yes I know in this format we are asking for balances but you can blank them out with a marker pen.
Reg. Business reference
Letter from a business that knows you such as a stock broker, insurance broker, dental clinic, medical clinic, an attorney, an accountant or other business partner on a letterhead.
Should say they know you and for how long, have done business with you,
you are a good person and they recommend you.