For those interested in setting up an offshore company, it is worthwhile to take a look at establishing an International Business Corporation in Panama. Panamanian IBCs have several features, some unavailable to IBCs incorporated in other countries. This puts them in a position to offer several unique advantages.
One feature of Panamanian IBCs is that they pay only $300 in annual taxes if their income is obtained from offshore sources. This is added to Panama's already liberal tax climate, which frees individuals and Panama corporations from having to pay taxes on capital gains, inheritance and bank interest income. The incorporation of an IBC by a local representative in Panama takes anywhere from $1,500 upwards, depending on the features the investor wishes to include.
Another feature that Panamanian IBCs offer is the ease with which they can be formed. Once the required documents and funds are available, it takes but two to three days to set one up. Adding to this is the fact that one does not have to be a Panamanian resident or even be in Panama to set up an IBC.
Panamanian IBCs can be under the care of at least two nominee directors. These directors, who do not have to know the corporation's owners, can hold a juridical position if so desired.
Another Panama IBC feature is the ability to hold one or more bank accounts in Panama or in other places. These would be under the IBC's name, and the person setting up the accounts doesn't need to be in Panama or hold a bank account in Panama. It is also possible for the IBC to own stock brokerage accounts. These can be in Panama or in other countries, and can be opened without needing a personal visit to Panama by the corporation owner.
The Panamanian IBC can also own real estate anywhere in the world, its anonymity being preserved by bearer shares, the fact that there are no public records of ownership are held for an IBC and that the government doesn't hold records showing who owns the corporation.
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