.:What Do Panama International Business Corporations Offer You?

anama companies, also known as Panamanian Corporations, Panama International Business Corporations or IBCs have been recognized as an offshore vehicle of choice for international business, offshore asset protection and estate-planning structures for over seventy-five years.

Panama is the only place where you can form a truly anonymous Bearer Share corporation (for privacy - he who holds the shares, owns them, with or without par value). Under Panama law, a Bearer Share corporation can be formed that is owned by the possessor of the physical certificates of stock with no recorded owner on record anywhere. The corporation can own bank accounts, real estate, boats, planes, cars, businesses, and other valuable assets - all without revealing the actual natural persons who own the corporation. They may own property and invest anywhere in the world.

There are no restrictions for foreigners forming or controlling Panamanian corporations. There are also no restrictions imposed by law or local regulations which do not permit Panama companies to do business in or with any particular country. There are no reporting requirements to the Panamanian Government either.

And, your corporation can be set up in less than a week.

—Holding company for real estate in Panama or elsewhere.
—Holding assets internationally on a favorable tax basis, whereby assets can be transferred between persons in a private transaction through the delivery of shares rather than an exchange of the underlying assets themselves.
—Business start-up in Panama, such as an international consulting service or a hotel in the tourism industry.
—Conduct business in any jurisdiction in which a local or domestic corporation may conduct business.
—Investment and banking.
—Borrowing or lending money.

How Is A Panamanian Corporation Structured?

There are four types of companies that are used as the base for your offshore structure.

Corporation:The corporation with limited shares is the most frequently used corporate form in Panama, and is the usual choice for an offshore operation. A corporation is formed by two subscribers (or nominees in the case of absent foreign subscribers), who execute the Articles of Incorporation (Statutes) before a notary and then record them at the Panama Public Registry Office.

Foreign Corporation:A foreign company can be registered in Panama by presenting the following documents at the Panama Public Registry Office:

Panama Corporations - Private Interest Foundations - Bank Accounts

—A notarized Spanish translation of the Articles of Association.
—Board Minutes authorizing the Panamanian registration.
—Copies of the most recent financial statements.
—A certificate from a Panamanian Consul confirming that the company is organized according to the laws of its place of incorporation.
—Notification of the allocation of capital to the Panamanian operation.

Capital taxes on formation and annual registration fees are payable as for Panamanian corporations.

A foreign company can transfer its seat (meaning the location from where its Directors control the company) to Panama, and will then be subject to Panamanian laws regarding public policy, while remaining under its originating law in other respects. A foreign company operating in Panama, but not registered there, may be sued in the courts of Panama but does not have the right to sue.

Limited Partnership:This partnership may have between two and 20 partners. There is no restriction on the nationality of the partners or their domicile. Capital must be between $2,000 and $500,000. The names of the partners must be registered in the Public Registry, along with details of the amount of capital committed and paid in (in cash or kind) by each of them. The liability of each partner for the debts of the partnership is limited to the amount subscribed to but unpaid. The partners can appoint an independent administrator for the partnership whose name must also be registered. A limited partnership with up to five members is not obliged to hold meetings. Otherwise, the partners must meet at least once each year. There is no requirement for annual returns or the filing of accounts.

Individual Limited Proprietorship:This partnership is structured the same as a Limited Partnership, with the exception that there is only one officer. The sole proprietor transfers assets to the business for the purpose of trading. The business liability of the proprietor is then limited to the amount of the assets committed.

Incorporation Specifics.

Corporation Name:This must end in Corporation (Corp.), Incorporated (Inc.), or Sociedad Anónima (S.A.). Names in a foreign language are permitted. Availability of names must be cleared for use by the Public Registry. Name(s) available may be reserved, if desired, for a renewable period of 30 days at a cost of US$30 each.

Corporate Objectives:These are usually broad general objectives, however, mention can also made in the corporate charter of certain specific objectives for which the corporation is organized, if desired.

Authorized Capital:Panama Corporations do not require paid-in capital and there is no time limit in which Authorized Capital must be fully paid. The standard capitalization for a Panamanian corporation is US$10,000.

Capitalization states the number of shares and their respective par values. If no par value-shares are used, then the government values each share at US$20 for purposes of computing the registration fee on authorized capital.

Type(s) of Shares:Share classifications include nominative and/or bearer, common and/or preferred, the class of shares - class A or class B (when applicable), voting or non-voting, as well as any rights and/or restrictions applicable thereto.

Officers:Panamanian law requires a minimum of three Directors, which may be natural persons or juridical entities. For natural persons, full names (initials are not acceptable) and addresses are required. For juridical entities, complete official name(s) and address(es), accompanied by a notarized and apostilled certification (or Panamanian Consul Authentication) from the regulatory body or registrar of the corresponding jurisdiction(s), indicating that the entity is valid and who its legal representative is, are required.

Panama companies must have a President, Treasurer and Secretary. These may be natural persons, corporations or other entities. An officer may hold more than one position, but the President and Secretary can not be the same person. There is no maximum to the amount of officers appointed. A Director can be an officer of the company.

Directors and officers do not have to be shareholders, Panamanian or Panamanian entities.

No books or records have to be kept by an offshore Panamanian company. If such books or records are kept, this may be done in any country. There is no requirement to prepare, maintain or file financial statements. If the Directors decide to maintain these type of accounts, they can be completed and stored anywhere in the world.

The exception is a Stock Register that is required by law. The register contains the names of the holders in alphabetical order, place of domicile and date of acquisition of shareholders, other than the holders of Bearer Shares.

Corporation Duration:This is usually in perpetuity.

Resident Agent:This is a Panamanian attorney or law firm.

Domicile:This is determined by the registered address.

Meetings of Shareholders and Directors:Annual general meetings of either shareholders or directors of the corporation are not mandated or required. If meetings are held, they can take place anywhere in the world by proxy - via telephone, email or other electronic means. Any resolutions passed are valid regardless of whether they are signed on different dates or in different jurisdictions.

Annual Fees:Corporations pay a government fee of $250 for the first year and $300 for subsequent years.

Records and Accounts:There are no reporting requirements for non-resident Panamanian companies.

Re-domiciliation:Re-domiciliation to Panama of foreign corporations is allowed, regardless of provisions in this respect in the country of origin. Moving Panamanian corporations to other jurisdictions that accept such re-domiciliation is also allowed. (This must be stipulated in the articles of incorporation, however.)

Dissolution:A formal voluntary dissolution of the company is allowed at any time. It requires the approval of the shareholders at a meeting duly convened for such purpose. In this case, a Certificate of Dissolution must be obtained and subsequently published in a local newspaper and the Official Gazette of Panama.

Specific liquidators may be appointed for the purpose of dissolving the affairs of the corporation during the three years liquidation period stipulated by Panamanian law, which is desirable for companies with offshore operations. Otherwise, the Directors on record will act as fiduciaries for liquidation purposes.

Our Panama Corporation Package is only $875 (with Nominee Directors, $975).

With OBR you receive…

— Original Article of Incorporation (Spanish).
— Official English translation of the Articles of Incorporation.
— Nominees Directors (optional).
— Pre-signed, undated Nominee Director resignation letters.
— Resident Agent.
— Registered Office.
— Share certificates for any type you designate.
— First Minutes of the Board, whereby the subscribers renounce to one share each.
— General Power of Attorney (notarized & apostille).
— Certificate of Incorporation.

For only US$450, you can receive a
Panama Corporate Bank Account, which includes:

— USD & Euro currency.
— Online Internet access.
— Check book.
— Corporate credit card (optional).
— Time Deposits (CD).
— English- and Spanish-speaking customer service.

Order Now or Contact Us Today.