Panama Offshore Legal - Offshore Asset Protection Services

There are a number of factors one must look for when setting up a secure asset protection structure. The tax-free status of the jurisdiction being used is always a major consideration. The anonymity of the corporations and foundations is also important.

Not all Offshore Banks in Panama are Created Equal 

The availability of quality banks covered by bank secrecy laws with online banking is of paramount importance.  In particular, an offshore bank must provide the ability to send and receive wires through the online banking interface.  Shockingly, most banks in Panama fail this test.  Banka (name changed for legal reasons), a large bank here in Panama (recently purchased by HSBC) is a perfect example.  Banka is a great bank from almost every other viewpoint.  They offer online banking, but many customers may be disappointed to learn they are unable to send international bank wires via online banking.  In fact, Banka requires that the client sign a form and fedex it into the bank each time they want to send a bank wire.  Although Banka is a great bank overall it is undesirable as an offshore bank.  The banks we offer our clients have excellent online banking with full wire capabilities.

Beware Offshore Corporation Mills - Deal with a Law Firm only 

Attorney client privilege is something that should never be taken lightly. Always deal with a law firm.  The offshore banking world is full of fly-by-night operators, who offer bad products and register their client's corporations incorrectly.  Recently a customer of one of these "offshore mills" came to us to get a bank account.  When we looked up their corporation in the Panama public registry, we were shocked to find the client's name was right there in full public view.  This is a very serious issue.  Don't trust a "corporation mill" to create your offshore corporation.  They might sound slick, but their quality of work is poor and they don't have a law license to lose.  Don't be fooled when they tell you they have lawyers on staff.  This is NOT the same thing as a law firm!  You are not protected by attorney client privilege, no matter what they tell you.  If they don't say "Law Firm" on their website there is a reason.  They are not not a law firm and are hoping you don't know the difference.

Don't make the mistake of using jurisdictions that used to be good but in recent years have compromised their secrecy and privacy. Click here to read more about asset protection

Offshore Company Incorporation, Offshore Corporations

Today there are a multitude of offshore jurisdictions touting themselves as the best tax haven to domicile a corporation in. What one needs to look for when selecting an offshore jurisdiction is the following:

There should be no taxation on offshore-derived income. There should be serious bank secrecy. One must be able to have a