Panama foundations and Panama IBC offers some of the most favorable and flexible offshore incorporation laws available in the world. A Panama company or corporation can provide legal protection of assets and identity. It is an ideal jurisdiction for any international businessman or investor willing to operate in offshore formations.
Panama companies are formed under the General Corporation Law, Law 32. It is amongst the most liberal and stable corporation laws in the world. Panamanian corporation law has not been changed since 1927 and has been used as a model for several other jurisdictions. It offers flexible corporate structure, provides complete privacy and confidentiality and ensures legal framework to conduct legitimate business.
Panama IBC uses some of the most solid banking and corporate book secrecy laws around the world. The privacy and confidentiality here are not only respected but also vigorously protected by constitutional laws that make Panama the most secure offshore financial center. Panama offshore corporations can be generally used for global trade, to set up an offshore bank account or investment bank account, to hold ownership of real estate or any other type of asset.One can easily set up a Panama company or corporation, the following details are requested in the set-up process.
Complete an online form with your all personal contact details.
- Indicate the type of entity you wish to set up. Choose whether you want Panama corporation or Panama shelf corporation.
- On the online application form, you should also declare three name choices for your Panama corporation. The names can be in any language but must include a corporate suffix such as.Inc, Corp, etc. Once you have submitted the form with desired corporation names the first available name selection in the Panamanian Public Registry will be assigned soon as the payment is received.
- On the application form, you also need to specify who you want to assign as director of your Panama corporation. Each Panama company requires 3 directors or officers as Secretary, President, and Treasurer. These can be either individual or entities.
- The applicant also needs to inform how he wishes to issue corporation share certificates. The Panama corporation share certificates are generally issued either to “The Bearer” or in Nominative Form.
- On the online application form, you need to specify your preferred payment method. Payments can be usually made by Credit Card, USD Check, Bank Wire Transfer, PayPal, etc. After you submit your online form you will be contacted by service staff and will be provided payment instructions.
- Usually setting up Panama company takes up to 5 business days.
You can also check from a number of consultants or offshore formation service providers to assist you in your offshore company formation process. Panama acts as home to world’s largest banking centers and the flexible banking laws make it the best of its type.