This is true no matter what country you live or do business in. Anyone in the world, of any nationality and citizenship, can form an offshore company in Panama. Panama does not impose restrictions on where that corporation can operate, and again, no taxes on the activity outside the jurisdiction of Panama.
This is necessarily the case in every country that offers offshore company formation – some do not allow these companies to operate within their own borders, and other requirements have tax due to tax treaties with other countries. Panama does not have any tax treaties with other countries, so we can ignore the gains outside its jurisdiction.
There are many strategies to distance itself from the activities of the offshore company you personally. The way the corporation is set up is important; using proprietary directors, the law firm can ensure the real owner remains unknown in any record, and is known only to them, a fact protected by attorney-client privilege. In fact, a lawyer for the formation of a corporation in Panama, precisely to protect the privacy of the country’s businesses is required.
The use of bearer shares means that ownership is conferred by physical possession of the stock certificates of the corporation – the holder of the shares are owned. This allows the company to change hands several times, just for actions that physically exchanged, again without any registration of the requested transaction. This minimizes the path that connects a particular corporation to a particular individual.
You can also create a society using three anonymous corporations with bearer shares as additional directors, which gives a greater degree of remove. However, this may limit the types of activities that the company can participate in, as some financial institutions are afraid to open the bank or brokerage accounts in these situations. While vested with privacy laws very strong, banks in Panama are nevertheless obliged to take measures to identify openly illegal activities such as money laundering, terrorism and drug trafficking.
A particularly useful strategy in Panama is the combination of a bearer share corporation with a private foundation. Panama foundations are rather unique instrument in the world right now, with some very useful features.
Overall, the structure of private interest foundations of Panama is located between a trust and a corporation, but with some additional benefits. First of all, a Panama Foundation has no owner. In this sense, it is more like a trust created for a specific purpose for the benefit of a person, group or entity.
A foundation requires a founding member, and a beneficiary, both of which can be completely anonymous and can even be the same person. More importantly, the foundation’s assets can not be seized or frozen to meet the personal obligations of the founder or beneficiary, are considered quite separate from the personal assets of those involved in the foundation. The assets of the foundation can only be used to meet the obligations of the foundation, whether to participate in commercial activities (such as signing contracts, leases, loan agreements).
By making the placement of the ownership of its shares under a Panama Corporation Panama Foundation, you can achieve a greater degree of asset protection and anonymity that a single corporation. His relationship with the foundation (however it is established, and there are many different ways to do it depending on your particular needs) is strictly protected by the law of Panama, and the assets of the foundation is also strictly protected by law in Panama.
Unlike a corporation, the establishment of a base requires some capital investment though – a minimum of $ 10,000 – but also offers greater protection for your assets and anonymity in their business activities.