Many people will look at the advantages of owning a bearer share corporation in Panama and just see the ability to hide money. But the truth is that these corporations can hold so much more. Fine art that is worth a lot can be attributed to the corporation. Land or housing? It’s the corporation’s. What about a car collection or some boats? Both can be given to the corporation. The point is that anything you have that has any sort of monetary value can always be given to the corporation.

You can also start up a foundation to further protect your corporation. This foundation would be in charge of owning the corporation, though technically both are still yours, and can be used in many creative ways. One method to use is to have the foundation hire you, with a contract written out and on record. After all, how can you work officially for a foundation that you own? Arguing such would be preposterous in court. So now all your assets are owned by a corporation that no one can link you to, which is owned by a foundation that has no public owner where you work. Do you foresee anyone finding anything against you here?

Another reason to start a corporation in Panama is the fact that Panama, unlike other countries around the world, does not require formal identification to open a bank account. What does this mean? It means that in most countries, e.g. the United States or England, you would be asked to show an identification with a picture to open or use a bank account. Not so in Panama. They value your secrecy more than any other country in the world and allow bearer share corporations to open anonymous account with no questions asked. This helps make Panama one of the best locations for secret banking in the world.

How will this help you? Lets look at a little scenario. You come to Panama and follow all of the steps outlined above. Now no one knows that the assets owned by a corporation are actually yours. In addition, secure wiring of money can easily be done to bank accounts owned by corporations. Panama bankers have no idea who owns that bank account and do not care. Compare this to the United States where the country does their best to make it public knowledge of who owns what assets in case of legal problems. Why would you ever put your assets in an inshore account?

Overall opening a corporation in Panama is a good idea because of the flexibility and privacy it offers. People in Panama are happy to keep your information secret and even stay out of your information.