How to Start an Offshore Company in Panama?

Panama is an offshore destination hub for international trade and financial centres located in America. There are approximately half a million companies that are incorporated in the zone.

Most business investors prefer setting up a business in the zone due to the prime position among the popular offshore jurisdictions.

Panama has witnessed continuous growth and economic expansion, leveraging the freedom of most business owners to come forward and set up their business units.

A politically stable environment backed by pro-business legislation and an attractive tax regime has turned the destination into a professional business centre.

So, if you are looking to start a business in Panama, here’s a guide highlighting the respective steps that need to be followed.

Before we proceed ahead, let’s have a look at certain foundations.

Panama Offshore Business

The Panama offshore business can be used for different companies, and a few of them are highlighted below:

  • International trade
  • Settle foundations or trust
  • Set up an offshore investment account
  • Open an offshore bank account
  • Expand establishing businesses
  • Hold ownership of intellectual property or real estate
  • Hold different types of assets
  • Set up an e-commerce business
  • Deal in private interest foundations
  • Forex and stock trading
  • Start a licensing company
  • Setup an internet service
  • Start an asset protection company

Business professionals prefer to form a Panama business entity for very private and private business transactions in most cases.

Offshore asset protection turns out to be a significant trigger for protecting their assets most securely. Here’s a guide on Why to Start An Offshore Company in Panama that you must read!

Features of Panama Offshore Company

A few of the characteristics of an offshore Panama company includes the following:

  • There should be a registered corporate office
  • Availability of a shelf company
  • No provision of minimum paid-up capital
  • Minimum one shareholder required
  • No need to prepare a yearly audit
  • No need to file the annual accounts return
  • The financial information is not disclosed publicly

Panama Taxation

Business investors enjoy different tax advantages after incorporating a business in Panama.

A few of the different types of tax exemption in Panama include:

  • Sales tax
  • Property tax
  • Estate tax
  • Gift tax
  • Stamp duty
  • Inventory tax
  • Income tax
  • Succession tax
  • Capital stock tax

How to Start an Offshore Company in Panama?

An offshore company in Panama can be incorporated by following the below-mentioned steps:

Select a Trade Name

In the first move, you need to decide the company name. Make sure to do research and then finalize the trade name.

Duly fill out the Application Form

Once you decide on the business name, make sure to fill in the application form with the required details of the business shareholders.

Submit the Documents

After filling in the details, submit the required documents to the respective authorities to gain approval.

Pay the Fees & Obtain the Certificate

You must pay the relevant fee to obtain the respective certificate in the last step.

In short, we have seen the entire process of setting up an offshore company in Panama. The next move is to deal with the legal proceedings correctly.

The best move is to get in touch with a well-versed business consultant in the legal proceedings.

Business Setup Worldwide is one of the top business consultants in Dubai who has been helping business investors to set up a business globally.

Our team members are well-versed with the legal proceedings and can help you incorporate your business dream hassle-free.

For more details on company incorporation, feel free to speak with our experts. Contact us today-we’d be glad to assist!

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