Panama, with as many as 400,000 registered Corporations, presents ample opportunities for offshore banking and asset protection. Created under the General Corporation Law, Law 32 of February 26, 1927, Panama Asset Protection Corporations (as these Offshore Companies are commonly known) provide the legal framework necessary for conducting Panama business services on a worldwide scale.

As in other tax havens, no taxes are imposed on the Offshore Asset Protection Companies launched in Panama (excepting the small fixed annual fees) and promises absolute privacy to investors. Forming an Asset Protection Corporation in Panama is not a lengthy process - the incorporation takes no more than 8 working days. You require neither a business license nor any other business services for Panama Offshore Companies.

Hold accounts in Panamanian banks or get involved in business services in Panama on an international scale by investing in Offshore Asset Protection. The following information will help you form and operate your Panama Offshore Asset Protection Company:

The Incorporation procedure involves the constitution and registration of the Corporation. This is done through a Panama lawyer (or law firm) who acts as the Registered Agent, presenting the Subscribers before the Notary Public. Once the Corporation is registered, the documents are couriered to the actual investor. (Note: The Registered Agent's address appears as the legal address of the Panama Non-resident Corporation).

The standard capitalization for a Panamanian Offshore Asset Protection Corporation is US$10,000.00; however, this is not in the form of Paid-In Capital. In fact, there is no set time limit in which the authorized capital has to be fully paid. You will have personal liabilities as a shareholder; hence, you will have to clear the company's debts (to the limit of your share) if and when the company fails to do so.

You will need to register names of Owners or Subscribers (usually two) during incorporation. At least 3 directors, whose names will be part of the public record, are must for forming a Panama Offshore Company.

As said, the Panamanian Non-resident Corporations provide 100% secret investing opportunities and so Anonymous Ownership/Shareholder Certificates will be issued to you in the form of Nominative or Bearer Forms. Again, for purposes of confidentiality, you will need to appoint nominee Directors and officers (for the posts of President, Secretary, Treasurer as well as other officials) for your Panama Asset Protection Corporation. As the actual Investor/Shareholder, you must have the Power of Attorney.

Offshore Asset Protection Companies in Panama do not necessitate Reporting. The Non-resident Panamanian Corporations are 100% tax-free. All you need to pay are the Annual Corporate Franchise fees of US$ 350 each year following the incorporation.

A Panama Offshore Banking Venture does not require you to maintain or file financial statements. The only documents that matter are the incorporation documents filed with the Mercantile Registry and a listing of the names, addresses and date of acquisition of all the actual shareholders.

You do not need a commercial business license to set up a Panama Asset Protection Corporation or even to operate business internationally.

As you see from the above Panama business services, investing in an Asset Protection Corporation in Panama can be advantageous and safe in every respect. Factors like investor privacy and security are attracting more and more offshore investors to this tax haven.