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Panama legal services are necessary for residency and asset protection issues in Panama. For foreigners in Panama a Panama lawyer specializes in two things, residency and protection of assets. Panama has become the world's premier retirement destination. Panama legal services are necessary to deal with immigration issues. Panama City has the world's second largest concentration of banks in its banking district. You would do well to use Panama legal services to help you set up banking and other asset protection measures taking advantage of Panama's laws.

A Panama Legal Services and Immigration

It is relatively easy to gain residency in Panama but by law you need the legal services of a Panama attorney to do the paperwork.

Panama has numerous routes by which a foreigner can obtain long term residency. From a social security check in excess of $500 a month to cash payment of $200,000 for a home, Panama law allows foreigners to gain a residency visa renewable indefinitely.

Avail yourself of Panama legal services to explain the old Panama residency law and the new law.

As of February 2008 Panama has passed a new immigration law. Tourists will get back a 90 day visa but a 60 day extension will only be given to those applying for residency. For those who apply for Panama residency before September 2008 the rules will be same as the old law. After September 2008 it will still be possible to gain residency but it will take more money and you will have to renew your visa more often.

As of June 2008 the details of the new law are being finalized. Check with the ABPanama website for new information.

Panama Legal Services and Asset Protection

A Panama lawyer specializes in privacy of assets and asset protection as well as immigration issues. Panama's banking laws and the structures of Panama Foundations and Bearer Share Corporations favor asset privacy and protection.

Panama Legal Services and Asset Protection Vehicles

Use the legal services of a Panama attorney to set up a Panama bank account, a Panama bearer share corporation and a Panama private interest foundation. These vehicles provide great asset protection and attorney client privilege protects the identity of the individuals who set up and derive benefit from these legal structures of asset protection.

Panama Banking and Panama Legal Services for Asset Protection

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, Panama Legal Services and Asset Protection

Why a Panama bearer share corporation? 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 the bank account will show the Panama bearer share corporation as the owner of the account and not you.

Panama Legal Services, Panama Foundation and Asset Protection

A Panama lawyer can set up a Panama private interest foundation as a holding entity for asset protection and privacy. Overseas assets of a Panama foundation are not taxed in Panama.

A Panama foundation can own assets anywhere in the world. The Foundation's assets can only be frozen if the foundation itself is accused of doing something illegal it its own business dealings. 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.

If you choose residency in Panama you will also want Panama legal services to help with the purchase of property.

Contact ABPanama if you need help locating competent Panama legal services.