Panama which is also known as the Republic of Panama is situated in Central America and is most famous for the Panama Canal. The Spanish speaking country shares borders with Colombia and Costa Rica. The Caribbean Sea and the Pacific Ocean also washed the shores of Panama. Panama is known as one of the best countries in the world to retire to. The Panama economy is boosted by its industrial, manufacturing industries as well as tourism and its strengthening International Financial center. The Panama offshore sector provides numerous offshore services in Panama, services which includes Panama company registration, banking, Panama offshore trusts and Panama offshore Foundations among other very reliable services.
The offshore jurisdiction of Panama is also known as one of the best tax havens available in South America. All offshore companies and entities registered in tax haven Panama benefit form paying no taxes on business done outside of Panama. Panama offshore business companies are solely responsible for paying a registration fee and a license renewal fee. Panama is one of the few offshore jurisdictions which allow offshore companies to do business in and out of the jurisdiction. So Panama Company registration means taking advantage of the fact that an offshore business company can do local business and local taxes will only be paid on profits gained in within Panama.
Panama Company registration at present is done by many lawyers and solicitors in the offshore tax haven. The process for Panama company registration is completed in less than two (2) working weeks and is very affordable. The Panama offshore registration can be done by two (2) persons of any nationality. For Panama company registration Articles of Incorporation must be signed by the persons wishing to own a Panama offshore company. The Panama Articles of Incorporation must include the information which has been listed below.
- The proposed name of the Panama offshore company
- The registered address of the company
- The purpose for forming the Panama company
- The authorized share capital of the Panama Company
- The par value of shares
- The number of shares to be issued
- The types of shares to be issued
- In cases of different types of shares the rights, designations, powers, restrictions and limitations of each class of share must be stated
- The name and address of the company agent in Panama
- The names and addresses of Panama company directors which cannot be less than three (3) persons. Corporations are also accepted as Directors
- The time by which the Panama offshore company will be dissolved
- The bylaws of the company
For Panama Registration the Articles of Incorporat6ion must be notarized in Panama and this document can be in any language. It is filed with the Mercantile Registry in Panama and a Certificate of incorporation will be issued. It must be noted that the offshore companies’ laws of Panama are very strict about names given to Panama companies for registration. According to Panama laws Panama offshore company registration will not be realized if the company name given is being used by another company.
Some of the many benefits of Panama offshore company registration include the privacy of not having the names and other information of Panama Company shareholders appear in public records. The Panama offshore company upon Panama registration will not have to declare financial statements to the tax authorities in Panama and the company’s financial records and books can be kept anywhere in the world. Panama offshore company registration ensures that an excellent offshore company is obtained; an offshore company which has many uses and even better benefits.