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Want great advice on protection of your assets? Talk to an attorney in Panama. Panama specializes in privacy of assets and asset protection. Panama's banking laws and the structures of Panama Foundations and Bearer Share Corporations favor asset privacy and protection. This combination of factors allows you to avoid being the target of fishing expeditions in frivolous law suits looking for "deep pockets."

Panama Banking and Asset Protection Advice

Setting up a bank account in Panama provides a level of privacy for your bank account not seen in other countries. Panama has no tax treaties with other countries. The privacy of a Panama bank account makes fishing expeditions from your home country very difficult as assets in a Panama bank account are very hard if not impossible to discover.

Panama Bearer Share Corporation and Asset Protection Advice

Setting up a Panama bearer share corporation will be the first or second piece of advice from a Panama attorney for asset protection. For those who prefer to hold their wealth in anonymity a Panama bearer share corporation may be one of the world's best vehicles for asset protection. Such a corporation can do business, hold assets, buy and sell assets, and do all of this in privacy.

Any income derived off shore from Panama is not taxed in Panama. Any banking done in Panama is anonymous as Panama has no banking treaties with other countries and for asset protection the bank account will show the Panama bearer share corporation as the owner of the account and not you. Combining such a corporation with a Panama private interest foundation is even better asset protection advice.

Panama bearer share corporation has no recorded owner. The owner of a Panama bearer share corporation holds physical certificates of stock of the corporation. The Panamanian public registry has no record of the person's name.

Panama Foundation and Asset Protection Advice

The other asset protection advice you will receive from a Panama attorney is to set up a Panama private interest foundation. Overseas assets of a Panama foundation are not taxed in Panama. The only taxation related to a Panama foundation would be if the foundation owned a business operating in Panama. In that case the business would be taxed, not the foundation.

The asset protection advice of a Panama attorney will be that a foundation's assets can only be frozen if the foundation itself is accused of doing something illegal it its own business dealings. Standard asset protection advice for a Panama foundation is to use the foundation as a holding company. If a company owned by the foundation has to deal with legal issues they do not spill over into other foundation business.

Panama Attorneys and Asset Protection Advice

Use a Panama attorney or law firm for asset protection advice and to set up both Panama bearer share corporations and Panama private interest foundations. Attorney client privilege protects the identity of the individuals who set up and derive benefit from these legal structures.

Further advice in asset protection to have the law firm or attorney choose the corporation directors complete with signed letters of resignation. These individuals will not know the name of the person holding the corporation's stock certificates.

Likewise for a Panama foundation the advice of the asset protection attorney will be that the person who registers the paperwork, the founder, as well as the foundation council be chosen by the law firm and have no knowledge of the identity of the "protector" or the "beneficiary" of the foundation.

For advice on choosing a competent Panama attorney contact ABPanama.