Panama is a small country on the border of South and Central America controlling the world's major strategic channel. Because of its advantageous geographical position the Panamanian economy is one of the richer ones in Latin America. Local companies do not pay any income tax on revenue from anywhere outside Panama and do not have to submit a financial statement to the authorities. Establishing a company is easy and fast - in most cases it does not take more than 2 days. A filled in and signed order is required, as well as a copy of a passport and a document with the name and address not older than three months.

Offshore company registered in Panama must have at least three directors who may be of any nationality. If you do not want to be the company director for any reason, you can use the services of a nominee director.

The shares ca be registered or anonymous bearer shares. With bearer shares, the original share certificates must be in the custody of the registration agent in Panama. A company with bearer shares can be used to anonymously hold shares in other (e.g. British or American) companies. The disadvantage of bearer shares is the problem of opening a bank account - most banks refuse to open an account. If a bank account is a necessity but you do not want to appear in the company as a shareholder, you can use the services of a nominee shareholder.

In addition to Panama, bearer shares are only permitted in the Marshall Islands (without restriction), Belize and BVI (the share certificates must be deposited with the registration agent).

The costs of establishing an offshore company in Panama, including a registered office, a registration agent, a secretary, standard company documents verified by a notary and Apostille, share certificates, stamp and delivery by courier are EUR 1,150.

The fees for additional years (registered office, registration agent, flat tax) are EUR 950.

Optional services to keep directors and shareholders anonymous:

Nominee director - three natural persons EUR 500 a year (including one general Power of attorney verified by a Notary with Apostille​ and undated resignation letters)

Nominee shareholder - corporate body EUR 500 a year (including a Declaration of Trust, verified by a Notary with Apostille)

Custody of bearer shares in Panama EUR 400 a year.

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