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By: Staff at Panama Offshore Legal Services
E-Mail: email@example.com || Phone (507) 227 – 6645
Fred and Sally are a Canadian couple living in Panama who wish to continue with their day trading business they had in Canada. They consulted with a Panama business lawyer who recommended they form a Panama corporation to own their business.
Panama corporations are often used for international trades and for setting up offshore brokerage accounts. Fred and Sally can use their Panama corporation to open a brokerage account to buy and sell corporate stocks, commodities, global mutual funds, different countries’ government bonds, buy and sell foreign currencies (Forex) and open bank accounts around the world to move their funds. Panama corporations do not pay tax on interest income or capital gains tax on the purchase and sale of offshore securities.
When engaging in these potentially profitable activities, Fred and Sally can feel comfortable in knowing that a Panama corporation will keep their financial affairs private by providing anonymity. Anyone can start a Panama corporation and take advantage of Panama’s corporate laws allowing a law firm to provide their own staff as “nominee” directors and corporate officers to shelter their clients.
Fred and Sally’s Panama corporation can open corporate bank accounts in Panama or Belize, and a few other countries with strong bank secrecy laws, keeping their financial affairs private. Confidentiality in banking and business transactions is a very valuable asset.
Various types of businesses can benefit from forming a Panama corporation, including those dedicated to importing/exporting, asset management, international consultants, professional services, real estate investments and development and an online business.
Starting a Panama corporation is easy, fast, and cost effective. Consult with a Panama law firm specializing in corporate laws to design a corporation to fit your unique business needs.