Advantages
1. Income generated by an offshore corporation
in Panama is exempt from taxes only if this occurs outside of
the territory of the Republic of Panama. This is based on the
territorial source principle. Therefore, corporations can manage
operations from an office located in Panama, but income from those
activities is not taxable under our law as long as it stays outside
of national territory.
2. Privacy of the identity of shareholders since
their names are not registered in any public office, only in the
corporation's Stocks' Register Book.
3. In Panama, two types of corporation shares
can be issued: bearer or nominative shares
4. No paid- in capital is required, neither its
registration in any bank. Assets don't need to be located in Panama.
5. The directors and shareholders may be of any
nationality and resident of any country. Its only required to
have a minimum of 3 directors for the corporation to operate
6. Articles of Incorporation, the document to
constitute a corporation, may be created in Spanish and in any
other language.
7. The Law allows holding meetings of directors
and shareholders in any country, in person, over the phone or
electronically.
8. To maintain confidentiality, if the corporation has nominee
directors activities may be handled through a general power of
attorney that must be registered at the Panama Public Registry.
9. Panamanian corporations must pay a one-time tariff known as
Annual Franchise Tax.
10. The corporation does not need any type of commercial license
to operate outside or within national territory
11. Panamanian offshore corporations may own any type of goods
or assets.
12. The owner of a corporation may be only one person, and it
facilitates having total control of the corporation.
13. Offshore corporations constituted under other jurisdictions
may change its domicile to Panama in order to take advantages
offered here. Any Panamanian offshore corporation may also perform
re-domiciliation to another jurisdiction.
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