Panama Corporations are the most anonymous corporations in the world. Incorporating your offshore company in Panama has many advantages.
Panama Corporation Anonymity
- Under Panama law an S.A. corporation (bearer share corporation) can be owned by the physical holder of certificates of stock with no recorded owner in any database or public registry. In fact the government does not even know who the owners of a bearer share corporation are. The Nominee Directors names are recorded in the public registry to preserve your anonymity.
- You can effectively transfer the stock certificates privately with no record of the sale appearing anywhere. The new owner of the offshore company can replace the directors with his own directors and even have resignation letters in his possession for the directors.
What can you do with your Panama Offshore Company?
A Panama corporation can own bank accounts, stock trading accounts, real estate, boats, planes, cars, art, jewelry, businesses, and other valuable assets all without revealing the actual ownership of the offshore company.
Additional complex strategies can be employed using the lawyer to perform certain functions for the corporation. In Panama there is strong privileged communication between the attorney and the client. Please enquire by phone regarding any specific needs you may have.
The Panama IBC, Banking Secrecy and Offshore Company Formation
A bank anywhere in the civilized world will require a beneficial owner for any bank account and will also require identity documents. In Panama, the beneficial owner can be a foundation, which is not owned by anyone. Some countries do consider the beneficiary of the foundation to be the benficial owner. Combined with foreign corporation ownership reporting requirements, this can pose a problem. To avoid this problem a self-owned trust structure can be created. Call for details.
Panama bearer share corporations can be completed in two to three business days after all the information is submitted. We also have shelf corporations and 24 hour account openings at one of the largest banks here in Panama for those under time constraints.
Panama Bearer Share Corporation Information
- For a Corporation in Panama the shares may be issued in physical bearer form similar to the old bearer bonds with or without any par value assigned to the shares. The only documents publicly recorded are the articles of incorporation, which typically will list the officers and directors who are the nominee directors provided for you by us as your the registered agent. The actual owners would be the natural or judicial persons who actually have the physical shares of the offshore company, which may be made out, in blank with no names on them. The identity of the owners do not appear in any public record of any sort and the government of Panama does not even know who they are. There is no requirement to report any changes in ownership to anyone.
- The annual fees Panama Government charges for Panamanian Corporations is $300.00. The total annual renewal fees starting in the second year is only $695.00 and this includes the $300 government fees, resident agent address for the corporation, and three nominee directors. Many other law firms charge as much as $1000-$1500 so be careful to inquire about renewal costs when choosing a law firm.
- Panama requires no minimum amount of paid in capital for a corporation.
- Annual meetings of the shareholders, which would be the owners, or directors, which would be the nominee directors of the corporation, are not required.
- The corporations financial records can be kept anywhere in the world which makes legal discovery exasperating.
- The Panama Corporation Resident Agent does not need to keep the share certificates in his possession and has no obligation to maintain any records for the corporation. Share certificates can be kept at any location in the world and the location need not be disclosed to anyone.
Our Panama Bank Account Guarantee:
If you get your offshore corporation through us we will guarantee you to get a Panama Bank Account without having to travel to Panama as long as you can supply reasonable identification like a notarized passport, a notarized drivers license, bank reference letter, and a business reference letter plus a minimum deposit of $1000.00.
Panama Bank Features
The Panama Bank will have people that speak English and Spanish on the customer support staff, they will have online banking including international wire transfer capability, and they will have ATM cards or Visa Cards. You can have a checking account or savings account. The account can be in US dollars or Euros.