The Republic of Panama is a presidential independent, sovereign state. Panama is a well-conceived and developed offshore center that caters to the international community. Panama has the fastest growing economy and the largest per capita income in Central America.

The legal system is based on civil law system. Spanish is the official language of Panama and English is the second widely spoken language.

Over a hundred international financial institutions have a presence in Panama making this a preferred jurisdiction to setup an offshore company to facilitate offshore banking activities, international trade, investment activities and for asset protection. There are no restrictions or exchange controls in the Republic of Panama. The local currency is the Balboa, which is at par and used interchangeably with the U.S. Dollar. In fact, U.S. Dollar bills are the paper currency of Panama and U.S. coins are used alongside Panama's own coins of equal size and value.

The Panamanian taxation system is a territorial one, so for a company that generates revenues from abroad there is no income, dividend or capital gains tax, even if the company has an established office in Panama. In-fact no tax filing of any kind is required unless you intend to operate a "local" business.

Panama's Corporation Law requires a minimum of three (3) directors and the names and addresses of all directors and officers are filed in the public registry. In order for your information to remain private we have incorporated the necessary “Nominee” Directors and Officers into our package.

Having funds secured away OUTSIDE THE UNITED STATES in an International Bank Account is extremely important in times when currency controls and government interference are getting more and more brazen... If you are targeted and ALL YOUR FUNDS are within the United States, it could ALL EASILY BE SEIZED in a single day....a VERY BAD DAY, leaving you unable to mount a legal defense since you will have NO ACCESS TO YOUR OWN MONEY.

The principal goal of International Asset Protection is to place your assets outside of the jurisdiction of the country's court system where you are resident. With regard to liquid assets, the primary way to accomplish this is by moving funds offshore using Offshore Bank Accounts held by either a foreign corporation / Limited Limited Company or by establishing a Bahamas International Asset Protection (Dynasty) Trust.

Most of our International Incorporation packages include account opening services. We accomplish this, for the most part, without our client (the account signatory) needing to travel. The process can however be daunting, as the “Know Your Client” (KYC) due diligence checks made by the various Institutions and Banking Service Providers are very thorough. You will need to provide detailed information on the purpose of incorporating and the source of funds to be used to capitalize the company (or Trust). Certified Copies of a passport, a drivers’ License, a proof of residential address and a professional or banking reference are also required - and these are all required BEFORE we can begin the incorporation or Trust formation process.

Fortunately, a new generation of FinTech banking service providers has recently entered the market, giving us respite from what had become a horrendous underwriting procedure engaged upon by every offshore bank, wherein every applicant was looked upon as a criminal until proven otherwise. With the arrival of FinTech we are often able to provide scanned and uploaded documents rather than old school “hard copies” notarized and certified and shipped by FedEx around the world several times (before an approval could be given). FinTech has partnered with and given us access to banks that previously would have been inaccessible due to extremely high opening balance requirements.  FinTech has given us access to multi-currency bank accounts with IBAN numbers and “local” accounts all over the world, all within an app on a device that we can carry everywhere. Yes, looking at recent developments, we are optimistic for the future!

Because of laws and regulations such as FATCA, opening accounts for U.S. citizens and residents is certainly more challenging than for a European citizen for example, but we are continually researching, testing, and developing our relationships.  Our Bank Account Opening Service is included with most of our International Incorporation Packages and our success rate is high, but please note however, that we cannot guarantee that you will be able to open an account as this process is out of our control and conditional upon the Bank's policies and procedures. In the rare circumstance that we are unable to open an account for you, we will refund the account opening fee, but we DO NOT refund the fees paid for the incorporation packages.

Please note that the fee that we charge for account opening services will be clearly indicated in your invoice that will be presented to you prior to you becoming a client. Please also note the the fee charged rarely covers our costs, as the process is extremely time intensive. We offer the service out of necessity and as a service to our clients. Please note that the Banks themselves may also charge an "account opening fee" - this is common when an international company search must be completed or if the bank agrees to open the account remotely (without a personal visit). This fee is usually payable only when the account has been opened and is usually deducted from your initial deposit.

One of the keys to our account opening success is the provision of “Nominee” Director services in our packages, so the Director deals with the banking service provider throughout the entire process until an account approval is given, at which time, the bank will release the new account details, login/passwords etc. only to the account signatories.  

The selection of the banking service provider is best left with the Director and will be made after consideration of all factors including the purpose of incorporation, jurisdiction of incorporation, intended use of the account, nationality/residency of account signatories and shareholders and other factors. If you have specific requirements for banking in a certain jurisdiction for example because you want to operate an e-commerce business, this should be discussed with one of our senior consultants PRIOR to incorporation. 

If your International Corporation chooses not to elect "flow-thru taxation", or is otherwise ineligible, such as a Panama Corporation, then the U.S. Shareholders of this Corporation (a "Controlled Foreign Corporation" ) will each need to file form 5471 (detail) (Annual Information Return of Foreign Controlled Corporation) annually along with their form 1040.

In addition to reporting the income of your International Corporation / IBC / LLC there are also reporting requirements for Foreign Financial Assets, Foreign Financial Accounts and transfers of property to foreign corporations so you will probably need to file all of the following forms, but please don't take our word for it, instead, please take advice from your accountant or C.P.A. (or ask us for a referral):

If this is your first time considering an international solution, the process can be daunting, as the “Know Your Client” (KYC) due diligence checks made by the various offshore service providers, Banks and banking service providers are very thorough. You will need to provide detailed information on the purpose of incorporating and the source of funds to be used to capitalize the company (or Trust). Certified Copies of a passport, a Drivers’ License, a proof of residential address and a professional or banking reference are also required - and these are all required BEFORE we can begin the incorporation or Trust formation process.

Immediately upon receiving your order, we will send you the complete requirements. If you are unable or unwilling to meet these requirements and you inform us of this within the first 48 hours, your order will be cancelled and you will receive a full refund. PLEASE NOTE that any and all client due diligence provided will be held confidentially OUTSIDE of the United States.

Price: $2450.00 (renewal only $1385.00)