Offshore companies: keys to investing in Panama if you are from United States

Offshore companies: keys to investing in Panama if you are from United States

For individuals based in the United States, Panama is now a popular choice as a location for forming offshore companies thanks to its advantageous legal structure, tax regulations, and strategic geographical position. These characteristics enable the establishment of businesses in Panama with the ability to engage in operations across various nations.

Characteristics and benefits of an offshore company

A offshore company is a business entity incorporated in one country but operating in another. This arrangement offers a range of attractive benefits, such as safeguarding assets, ensuring confidentiality, and delivering significant tax advantages to its proprietors.

For foreign investors looking to expand their businesses internationally, establishing an offshore company in Panama may be an invaluable strategic tool. Located in jurisdictions with favorable legal and tax frameworks, they offer a range of advantages that can drive the growth and profitability of their investments. The experts at Legal Solutions can guide you in establishing your offshore company.

Benefits of forming a offshore company in Panama

One factor that contributes to Panama’s appeal as a prime location for creating a offshore company is its robust and evolved legal structure, as defined by the Corporations Act of 1927, granting versatility for setting up and managing such entities across various aspects.

With Panama’s tax regulations, offshore companies are liable for taxes solely on earnings generated within the nation, leading to notable tax advantages for businesses operating internationally. Moreover, its advantageous geographical positioning enables convenient entry into the markets of Latin America and the Caribbean, presenting a valuable business prospect for enterprises looking to expand.

Panama also guarantees a high level of confidentiality by protecting the identity of shareholders and directors, without requiring the disclosure of financial information. Lastly, the costs of establishing and maintaining offshore companies in Panama are competitive compared to other similar jurisdictions.

What is needed to create an offshore company in Panama?

To form your offshore company in Panama, you are only required to fulfill the following criteria:

• Identification papers: copies of the valid passports of all shareholders and directors of the corporation (at least 1 shareholder and 3 directors). Additionally, the residential addresses of all shareholders and directors must be provided.

• Forms: completion of the Know Your Customer (KYC) Form to verify the identities and funding sources of the individuals involved. Additionally, the Company Formation Form must be filled out, providing fundamental details about the company such as its name, objectives, and share distribution. Moreover, the Due Diligence Form is essential for capturing information regarding the shareholders, administrators, and business activities.

• Supplementary paperwork: if the shareholder is a Panamanian company or legal entity, a valid Public Registry Certificate (issued within the last three months) is mandatory. For offshore companies, a current Public or Commercial Registry Certificate from their respective country (issued within the last three months) and duly apostilled, is obligatory.

Remember, these are the basic requirements for establishing an offshore company in Panama. It is advisable to consult with specialists in the field, such as the team at Legal Solutions, to receive personalized guidance and ensure that all legal requirements are met.

Grow your enterprise in Panama alongside Legal Solutions

If you are a resident of the United States, Legal Solutions is a legal practice with vast expertise in forming offshore companies, boasting extensive experience and dedicated divisions. They will streamline all these procedures, consistently aiming to offer you optimal guidance for setting up your functional enterprise in Panama effectively.

Are you considering investing in Panama? Visit their website for more information. Contact an advisor to clear up any doubts you may have and receive a free 30-minute consultation.