Offshore Company Formation – Panama
Economy of Panama
Economy of Panama is mainly based on service providing industry. Economy of Panama is an economy that is fully dollarized. This economy in Panama does not have any history of high inflation. Economy of Panama is mainly dependent on the banking industry, on industry of tourism and commerce.
About 80% of the national GDP of Panama is contributed by the service sector in that country. Economy of Panama is primarily based on service sector and this service sector includes the commerce by Panama Canal, the banking sector of Panama, the insurance sector in the country, the colon free trade zone, container ports, registry of flagship, medical and health industry and various other businesses.
Panama has manufacturing industries include manufacturing of aircrafts, manufacturing of aircraft spare parts, cement manufacturing, manufacturing of various drinks, manufacturing of adhesives and the textile industry, manufacturing different variety of clothing.
Panama is a country that is exporting bananas, sugar, shrimp, clothing and coffee to other countries, in the world.
There is a decline of national GDP of Panama, from the year 2007. This GDP is calculated in US dollars. The GDP growth was registered as 11.9% in 2007, which came down to 6.1% in the year 2014.
Panama has a very strong financial sector in the country. There is no National Central bank in Panama. So, there is no such institution in Panama that can act as money lender, to pull out different other banks from financial crisis, it might be facing.
Therefore, all banks in Panama run with a very conservative approach. It had an average capital adequacy ratio of 15.6%, in the year 2012. This ratio was nearly double the required minimum.
The banking sector in Panama grew by lending money to trade. It financed trade for mainly passing through the Panama Canal. Panama does not have any food production and United States is its main supplier.
Why form an offshore company in Panama?
The Republic of Panama is an important country for many foreign investors due to its tax relaxations for offshore companies. Owing to its location they have very good advantage over sea trade routes which makes this region very good for investors into import and export. Even their banks have very good option and the interests you receive from the banks are also tax free.
Basic Incorporation Package
Form your offshore company anywhere in the world within a week. No hidden price, no extra charges
With this package, we will provide you with a compulsory registered office address and dedicated account manager to handle all your queries. Also all the compulsory government fees would be paid up when the incorporation process takes place.
In addition to this, we will provide you with the documents necessary to incorporate a company – certificate of incorporation, appointment of directors, share certificates, company seal memorandum and articles of association.
Advanced Incorporation Package
This package will also include banking solutions and assure full confidentiality of your identity in addition to the full services of our Basic Incorporation Package.
We will provide you with a bank account and also with professional resident director and resident shareholder. This will help you in case you do not want your names to be displayed publicly. The Nominee director will act on your behalf by signing contracts, MoU’s and other documents related to your business.
All these will be provided in addition to company incorporation, registered address and other services included in the Basic Incorporation Package.
Professional Backed Package
This package will take care of the ever changing intergovernmental agreements which are being exercised by most of the countries.
More and more countries are signing up to international trade agreements which means more robust process. The benefit of our package is that it will facilitate your business through the help of qualified accountants, directors, international lawyers, tax advisors and investment advisors. It will ensure that your business runs smoothly and with full privacy and confidentiality.
Customized Package
Customize as per your requirements – whenever and wherever required.
Select what all services you require in what all jurisdiction. You can upgrade the services anytime you want. Choose from a wide range of professional services in addition to the type of company and bank account you want to set up. With the ever changing laws, you can ask our domain experts to guide you through the right direction.
Benefits of Forming an Offshore Company in Panama
- 0% tax on income, capital gains, stamp duty and exchange controls
- Availability of Off The Shelf companies
- No tax on interest receive from banks
- 10% on gains from local assets sold
- Full anonymity to shareholders and directors
- Not required to file annual returns
- 0% corporation tax