Tuesday, June 18

Legal Solutions: establishing offshore companies in Panama if you’re from the United Kingdom

For individuals residing in the United Kingdom, Panama presents itself as a compelling option for creating offshore companies, thanks to its advantageous legal structure, tax regulations, and geographically advantageous positioning. These attributes facilitate the formation of companies in Panama that can effectively conduct business across various nations.

Features and advantages of offshore companies

A offshore company is a business entity incorporated in a specific country while operating in another jurisdiction. This arrangement offers a range of attractive benefits such as safeguarding assets, confidentiality, and significant tax efficiencies for its proprietors.

For international investors seeking to broaden their commercial horizons, creating a offshore company in Panama can serve as a crucial strategic asset. Positioned in regions with beneficial legal and fiscal structures, they provide a plethora of benefits capable of propelling the expansion and financial gains of their ventures. The professionals at Legal Solutions stand ready to assist you in establishing your overseas corporation.

Advantages of establishing an offshore company in Panama

One reason why Panama is such an attractive destination for establishing an offshore company is its solid and developed legal framework, established by the Corporations Law of 1927, which provides flexibility for the establishment and operation of these entities at multiple levels.

Panama’s tax system means that offshore companies only pay taxes on profits generated within the country, which can result in significant tax savings for companies operating abroad. Additionally, its favorable strategic location facilitates access to the markets of Latin America and the Caribbean, representing an invaluable business opportunity for companies with expansion plans.

Panama also guarantees a high level of confidentiality by protecting the identity of shareholders and directors, without requiring the disclosure of financial information. Lastly, the costs of establishing and maintaining offshore companies in Panama are competitive compared to other similar jurisdictions.

Requirements for establishing a offshore company in Panama

To form your international corporation in Panama, you simply need to fulfill the following criteria:

• Identification documents: a copy of the valid passport of each shareholder and executive of the corporation (at least 1 shareholder and 3 executives). Furthermore, the residential addresses of all shareholders and executives are essential.

• Forms: completion of the Know Your Customer (KYC) Form is mandatory, which verifies the identity and funding sources of the involved parties. Besides, the submission of the Company Formation Form is required, furnishing fundamental details about the corporation such as its name, objectives, and share distribution, and the Due Diligence Form, which entails comprehensive information on the shareholders, executives, and operations of the company.

• Additional documentation: if the shareholder is a Panamanian entity or corporation, a valid Public Registry Certificate (issued within the last three months) is obligatory. For foreign establishments, a valid Public or Commercial Registry Certificate from their respective country (issued within the last three months) duly apostilled is mandated.

Remember, these are the fundamental prerequisites for founding a offshore company in Panama. It is recommended to seek advice from experts in the field, like the professionals at Legal Solutions, to obtain tailored assistance and guarantee compliance with all legal obligations.

Expand your business in Panama with Legal Solutions

If you are from the United Kingdom, Legal Solutions is a law firm with extensive experience in establishing offshore companies, with a long track record in the field and specialized departments. They will facilitate all these processes, always striving to provide you with the best advice to establish your operational business in Panama successfully.

Are you contemplating investment opportunities in Panama? Explore their site for further details. Get in touch with an advisor to address any inquiries you may have and benefit from a complimentary 30-minute consultation.