Panama is one of the countries with extraterritorial tax treatment which makes it attractive for the formation of Offshore companies as well as other jurisdictions such as the British Virgin Islands, Belize, Cyprus, Cayman Islands, etc. But let’s first define the concept of an Offshore Company: An Offshore Company or Company is the company that is registered in a country (such as those mentioned above) that exercises a very low or almost non-existent control, as long as the commercial activity is carried out outside the territory. where the company has been registered.
According to the International Monetary Fund, a quarter of the companies in the world are registered in these countries.
If we talk about the benefits that having an offshore company or company can bring us, we could mention the following:
- Low or almost zero tax burden
- Minimum requirements for the formation of a company
- Protection against superfluous lawsuits
- Reduction of operating costs
- Property protection
- Easy transfer of shares and assets
- Non-discrimination regarding the nationality of the owners of the company
- The owner of the company may or may not live in the country
- Banking secrecy
- Spanish and English are spoken.
- Capital does not have to be paid or released.
In conclusion, Panama is one of the most interesting and convenient options for those interested in forming an offshore company or company, not only for its benefits but also for the investment opportunities that exist in this country, its dollarized economy and its political stability and economic in addition to the beauty of its regions and warm people.
Probably wanna read:
- Offshore companies and business groups, all you need to know
- What is an Offshore Company and how does it work?
- Tax Havens: Positive and Negative Aspects