 OVERVIEW Why Panama? 1. Panama is a 100% Tax Haven: Non-resident Panamanian International Business Corporations (IBC's) and Private Interest Foundations do not pay tax on any of their income (as indicated below), nor do they have any reporting requirements to the Panamanian government.
• No income tax. • No capital gains tax. • No interest income tax. • No sales tax. • No tax on issuance of corporate shares. • No tax to shareholders. • No stock sale or transfer tax. • No capital stock tax. • No property tax. • No estate tax. • No gift tax. • No stamp tax. • No succession tax. • No inventory tax. world Private Interest Foundations are also available, and are one of the most widely used estate planning structures in the world today.
one of the most popular jurisdictions to incorporate in the world. • Panama does not impose any reporting requirements for non-resident Panamanian corporations. • Panama does not allow "piercing the corporate veil". • Panama corporations directors, officers and shareholders may be of any nationality and resident of any country. • Neither the directors nor the officers of Panama corporations need to be shareholders. • Meetings of directors, officers, and shareholders may be held in any country and accounting books may be kept in any country. • Corporations conducting business outside of Panama do not require a commercial license for offshore business activities. controls or currency restrictions so funds can flow in and out of the country freely.
monetary discipline while keeping inflation very low - under two percent for the last 40 years. • No currency exchange controls. Panama has no restrictions on monetary remittances abroad, including dividends, interests, branch profits and royalties. • No restrictions on funds flowing in or out of the country. corporate book secrecy laws in the world, which are engraved in its' constitution. With Britain's proposed regulation for removal of bank and corporate book secrecy in the UK offshore territories, it is clear that Panama remains the most secure offshore financial center - where privacy and confidentiality is not only respected, but vigorously protected by constitutional law.
• Panama has no mutual legal assistance treaties (MLAT's) for sharing of banking information with any other nation and does not recognize court rulings from other countries. (Under the new laws, they make exceptions in cases of drug money laundering or drug smuggling) • Panama Private Interest Foundations allow for Private Protectorate Documents and Private Letters of Wishes, enabling controllers (Protectors) and beneficiaries of Private Interest Foundations to remain 100% anonymous and private. |
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