Panama Finance Information
Luxe Investment Group works with several Panamanian law offices to help you take advantage of the benefits of setting up a Panamanian corporation. Panama is one of the worldwide jurisdictions where you can establish a dully licensed corporation allowed to legally carry out financial operations, including general and financial consultancy, gold, silver and platinum transactions, factoring, payments processing, online processing systems, collection of debts, taking moneys from third parties, forex, amongst others.
International investors, financiers and businessmen find Panama an ideal foreign base country for world-wide operations and transactions. Panama taxes according to the territoriality principle (that is, it does not tax foreign-source income), only the income produced locally is taxable, disregarding the citizenship of the taxpayer. Dividends are not included as income subject to income tax.
Due to its structure, geographical position, political stability and characteristics of its economy, Panama has become one of the most important tax havens of the Western Hemisphere. It has excellent international transportation and communication systems; the United States Dollar has been a currency of legal tender for more than ninety years.
Panama has taken several steps to modernise its economy and promote foreign investment. Most Panamanian and foreign investors choose to form Corporations. There are no exchange controls, currency restrictions or reporting requirements, and Panama imposes no limits on monetary transfers to and from the country.
• No reporting requirements.
• It is possible to keep a business under direct control while maintaining complete confidentiality. Names of beneficial owners are not publicly available.
• It is not required to file any changes to ownership schedule, after the registration is complete.
• It is not required to maintain a legal address.
• No Citizenship or residency requirements or restrictions with respect to Owners, Directors and Officers as with most other tax havens.
• Stockholders' and Directors' meetings may be held anywhere in the world.
• Capital Shares may be issued in a nominative form, or to "Bearer" - the ideal protection of the Corporation owner's identity and total privacy.
• Funds and accumulated offshore profits can be deposited or invested in any country in the world without becoming subject to taxation in Panama.
• One person might hold all three positions of a President, Corporate Secretary and Treasurer.