One of the many importants reasons for you to incorporate an international company is to maximize the efficiency of your corporation to help foster its international growth.
If you are planning to incorporate a Corporation in Panama, you will definitely want to know what are the best benefits of doing that.
Here are some advantages of registering a Corporation in Panama.
A Panamanian Corporation can be used for international trade, liquidate trusts or foundations, open a bank account or an investment account abroad, maintain ownership of real estate, intellectual property or maintain any other type of assets.
Panama has a territorial tax system, which means that the income of your Corporation in Panama is only taxed if it was acquired doing business in Panama. Therefore, no tax is paid when the income is obtained from a source outside of Panama, even if the Corporation is administered from within Panama.
A relevant point in tax planning is that Panama Corporations are residents by default in the Republic of Panama and this substance can be further improved through the use of local professional directors and obtaining a local / municipal business license.
Corporate assets or capital of a Panama company can be held outside of Panama. There are also no residency requirements or restrictions regarding owners, directors, or shareholders.
Meetings of shareholders and directors may be held and directors may attend personally or by proxy.
There are also no restrictions on shares. Shares can be held in registered or bearer form.
There is no paid-up capital requirement, inheritance tax, or currency exchange controls in a Panama company.
If you are planning to migrate to Panama and you are from one of these 50 Panama Friendly Nations, then having a company in Panama will help you with the immigration process. Actually, incorporating a company in Panama is one of the requirements to obtain a Panama Friendly Nations Visa.
If you are interested in knowing more, at ba-lawfirm.com, we have Panamanian lawyers specialized in Migration Services, who have solutions to your needs.
If you need advice on migration services, contact us at ba-lawfirm.com or through our email consultas@ba-lawfirm.com, we are ready to help you.
