Benefits of a tax residence in Panama.
Being Panama a leading country in Latin America in terms of the economy, it is very attractive when opening a business.
The Government of Panama is very active in offering programs that encourage foreign investment and, above all, promote the state projects themselves.
The benefits of a tax residence in Panama are:
- Taxes are limited only to local income.
- Little bureaucracy when obtaining the residence visa.
- Exempt from paying income tax in other countries (with the exception of the United States).
- Protect your income from creditors and foreign countries, by sending it to an institution within Panama.
- Banks in Europe and the United States accept UBO (Ultimate Beneficial Owner) accounts.
- The global income report will be kept only in Panama.
All this is due to the banking and privacy laws in force in the country, which provide legal protection for both the depositor and the resident.
If you require more information on the subject, we will gladly advise you at ba-lawfirm.com. Please contact us through our email consultas@ba-lawfirm.com, we are ready to help you.
