8 Of The Best Benefits Of Incorporating A Company In Panama
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One of the many reasons you incorporate an international company is to maximize your company's efficiency to help foster it's international growth.
If you're planning to incorporate a Panama company you will definitely want to know what are the best benefits of doing so.
These are eight of the best benefits you get when you register a Panama company.
1. A Panama company can be used for international trade, to settle trusts or foundations, to establish an offshore bank account or offshore investment account, to hold ownership of real estate, intellectual property, or to hold any other type of assets.
2. Panama has a territorial tax system which means that income of your Panama company is only taxed if it acquired from doing business in Panama. Therefore, no tax is payable when income is obtained from a source outside Panama, even if the business is run from within Panama.
3. An important factor in tax planning is that Panama Corporations are by default resident in the Republic of Panama and this substance can be further enhanced by using local professional directors and by obtaining a local/municipal business licence.
As such, there is much less potential for legal discussions over the place of residence of a company, when compared to traditional IBC jurisdictions.
4. Corporate assets or capital of a Panama company can be kept outside Panama. There are also no residency requirements or restrictions with regard to owners, directors or shareholders.
5. Shareholder and director meetings may be held and the directors may attend personally or by proxy.
6. There are also no restrictions on shares. Shares may be held in registered or bearer form.
7. There are no paid up capital requirement, no inheritance tax and no currency exchange controls on a Panama company.
8. If you plan to migrate to Panama and you're from one of these 50 Panama Friendly Nations, then having a Panama company helps you with the immigration process. Actually, incorporating a Panama company is one of the requirements in obtaining a Panama Friendly Nations Visa.
Our team can help you with your Panama Company incorporation. Contact us and we will help you with the process.