Advantages of Jurisdiction

Our company is registered in Panama. Republic of Panama is one of the most popular jurisdictions in the world. The reason is its exclusive financial and taxation benefits, and also the fact that this democratic government offers a unique combination of financial and political stability.

Republic of Panama is an independent country located in Central America. It has borders with Costa Rica and Columbia. It has been a UN member since 1945. An official language is Spanish. The President is the head of the country and the government. In 1914, the Panama Channel was built bridging the Pacific and the Atlantic Oceans through the Caribbean. Panama seaports play a key role in developing the country's economy. The Channel made Panama the leading region for cargo transits. Seaports, transits through the Panama Channel and financial services are the fundamentals of the Panama economy. Its banking sector has made Panama the financial center of Latin America.

An important branch of the country's economy is its offshore business. The advantages of offshore business registration in Panama for any investing and financial activity are stipulated by the General Corporations Act, Law 32 of February 26, 1927, which completely exempts offshore companies from taxation and offers a flexible corporate structure, ensures confidentiality for investors and guarantees legal conditions for conducting lawful international business activity. The income of any Panama company with foreign capital is fully exempt from taxes in Panama.

In this way, the basic advantages of a company's registration in Panama are as follows:

Political and economic stability.
Confidentiality of information .
Laws exempting the offshore companies from taxation.
Registration of an offshore company in Panama is like registering any ordinary company, as Panama has no special offshore legislation.
The country has another free trade zone, Colon.

International business companies (IBCs) are the companies established under International Business Companies Act of 1984 (with amendments). The Act regulates the establishment of the companies exempt from taxes and provides big advantages while complying with confidentiality requirements. The only restriction is the requirement to conduct the IBC's activity beyond Panama jurisdiction.

IBCs are completely freed from any taxes, but for a one-time payment for registration and annual license fee. IBCs are legally entitled to conduct the following activities:

establish and maintain partnership relationships with other companies — law and audit companies and registered agents;
manage bank accounts;
keep books;
hold the board and shareholders meetings;
rent real estate;
keep stock or other securities with other companies in Panama.

IBCs can conduct any business activity that does not contradict the law of the jurisdiction.

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